Every generation that enters the workforce comes with their own unique set of strengths and challenges, and it seems like every day there’s a new article about the latest and greatest generation to enter the workforce – Gen Z.
It's no secret that Generation Z is the future of the workforce. By 2025, they will make up half of all employees in the United States. With this in mind, it's important to understand what makes them tick and how to best attract and retain them. What it all boils down to, is connection, engagement, and growth opportunities.
Here are some statistics to prove that a focus on development is urgent if you want to retain your key Gen Z players:
When it comes to feedback, 60% of Gen-Z workers want direct, frequent communications and check-ins with their supervisors for performance evaluation. (Forbes)
94% of employees would stay at a company longer if it invested in their career development. (CNBC)
58% of workers said their companies didn't currently have enough growth opportunities for them to stay long term. (Inc.)
59% of employees are less likely to seek out a new job in the next year if they are engaged in their work. (Gallup)
Only 12% of employees actually leave their job because they want more money. Money is not the problem. (NPR)
70% of employee engagement depends on their relationship with their manager. (Gallup)
90% of Gen-Z workers desire and value a human connection when it comes to their at-work communication. (Forbes)
Again, the biggest takeaway from these statistics is that Gen Z wants to feel connected and developed when it comes to their work. They don’t want to punch the clock and collect a paycheck. Now more than ever, it’s important to figure out how to develop your staff, but where do you begin?
Build an internal Leadership Development Program that allows for connection to other team members while allowing a unique growth track for each participant.
Have weekly (or at least bi-weekly) 1:1 meetings where you discuss their goals to keep them front of mind. Ask all staff members to have at least one growth goal a month, a quarter, or a year, depending on the intensity.
Offer to buy team members books that will help them grow, and set up a staff book club to encourage community learning.
Pay for LinkedIn Learning for your staff so they can have unlimited access to learning in areas related to and outside of their current role. At the end of each month, have team members send a recap to their manager of at least one learning they participated in.
Have one team member speak to the staff about one of your values each week to allow them to practice public speaking and assess where your employees experience your organizational values being lived out.
Sponsor team members to attend ToastMasters or other courses focused on building leadership skills.
Gen Z is looking for a challenge, they want to feel like their work has purpose, and they are attracted to companies with strong values. They also place a high value on work-life balance. If you can create an environment that meets these needs, you’re likely to have no trouble attracting and retaining top talent from the Gen Z demographic. Have you had success hiring Gen Z employees? What would you add to our list for retaining these employees? Let us know in the comments below!