Seizing the Gen Z opportunity

By 2025, Gen Z will account for one-third of the workforce. But the expectations of this generation are very different from earlier generations in a variety of ways, particularly their expectations for work. 

​​As companies work to fill their open positions, attracting and retaining Gen Z is becoming increasingly important. In this blog, we will cover what Gen Z really wants from their employer and how they are disrupting the job market. In order to attract and retain Gen Z, employers will need to thoroughly understand what makes them unique.

Targeting your efforts

In the ever-evolving landscape of talent, employers can’t afford to ignore the emerging trends that Gen Z are enforcing. Understanding and adjusting to the preferences and work dynamics of this generation will be essential to securing a qualified and inventive workforce as firms face unprecedented market difficulties.

One of the key challenges facing firms right now is a shortage of workers. In fact, the Bureau of Labor Statistics July 2023 reported  8.8 million job openings on the last day of the month.

The US is facing talent shortages across a variety of sectors for a multitude of reasons. One of the reasons being the retirement of baby boomers, which has led to a significant loss of experienced professionals in sectors like manufacturing and healthcare. Another reason being recent global events, like the Covid-19 pandemic, that have disrupted labor markets, impacting the mobility of workers and has even resulted in talent opting out of certain sectors, like government. Lastly, despite high unemployment rates in certain sectors, there is a lack of talent that are qualified to do those jobs, leading to a skills gap. 

Amidst these challenges, finding qualified talent has become a race against time. As experienced professionals exit the workforce and global events reshape employment dynamics, the need to replenish with fresh, skilled individuals becomes critical. By aligning workplace policies and expectations with the preferences of this emerging generation, organizations can position themselves to not only fill the immediate talent void but also foster a workforce that thrives in the evolving economic landscape. 

Bridging these gaps demands not just immediate fixes, but also a long-term strategy that recognizes the potential of the upcoming generation. As the generational torch is passed, the relationship between the outgoing professionals and the incoming Generation Z can serve as a blueprint for not only surviving but thriving in an era marked by transformative change.

Work-life balance

Attitudes towards work-life balance is one of the largest distinctions between Gen Z and earlier generations. Gen Z is more likely to expect more of a work-life balance and is less likely to be willing to work long hours or sacrifice their personal lives for their careers.

In fact, Gen Z has created a new trend to fulfill their ideal work-life balance called “Lazy Girl Jobs”. While “lazy” usually has a negative connotation, the “lazy girl jobs” trend doesn’t mean slacking off at work. Gen Zers are increasingly rejecting Millennials’ hustle culture and looking for low-stress jobs that still pay a decent salary.

Is this just a TikTok trend, or should employers take note?

Our analysis shows that this growing emphasis on work-life balance is affecting where Gen Z chooses to work. 

We define “lazy girl jobs” as those where employees solely meet requirements to easily achieve work-life balance, while earning an annual salary of $50,000/year or above. According to our data, three lazy girl jobs – Media Analyst (+470.5%), Market Research Analyst (+232.2%), and Logistics Administrator (+165.5%) have all seen a notable increase in number of clicks, suggesting individuals are increasingly prioritizing work-life balance without compromising on their financial aspirations. Therefore, this trend proves that Gen Z’s priorities have significant impacts on the job market.

This trend demonstrates the value Gen Z places on flexible work schedules and a work-life balance. It means using conventional concepts of productivity overlooks the importance of efficiency and creativity that result from a staff that is well-rested and balanced. In response, employers should look to provide more flexible work schedules, remote work options, and foster a results-oriented workplace culture that prioritizes both personal well-being and performance. Ultimately, embracing the trend will result in higher job satisfaction, engagement, and improved overall outcomes for both employees and the company.

Another pattern that is growing in popularity among Gen Z employees is “quiet quitting.” Quiet quitting is when an employee stops going to work and stops communicating with their employer, without officially resigning. This is frequently done when the employee is dissatisfied with their position and is often a result of a lack in work-life balance. They don’t go above and beyond, rather they do just enough to not raise any concern.

According to a survey published in September by advisory firm Gallup, at least half of the American workforce are quiet quitters, many being Gen Zers. Quiet Quitting can be a significant issue for companies, as it can prompt lost efficiency and a decrease in morale. Bosses actually should know about this pattern and to do whatever it may take to prevent it.

Accommodating for Gen Z

Now that we know Gen Z can and will continue to shape the job market, it is crucial for employers to consider: what can we do to answer Gen Z’s concerns and fulfill their needs? Below are a few points to consider implementing to do so.

Flexible work: Most of Gen Z completed part of their education online during the pandemic. They know how to work remotely effectively. The option of working remotely, even part of the time, will increase their likelihood in taking the job and staying. In a study by Deloitte, flexibility is the most important factor for Gen Z when considering a job. When asked, 75% of Gen Z respondents stated that they prioritize a job with flexibility over one with a higher salary. Those employees that offer flexibility, even if it’s part time, are more likely to win over Gen Z talent.

Compensation: HR managers will need to start by reevaluating raises and starting salaries. Additionally, they should think about including pay transparency in their talent strategy and culture. Gen Z are actually more likely to have open salary discussions with their peers. In fact, many won’t even apply if there isn’t a salary posted on the job opening. According to Adobe’s Future Workforce Study, 85% of upcoming US post-secondary and recent graduates stated that they are “less likely to apply for a job if the company does not disclose the salary range in the job posting.” Employers that don’t do so may lose out of attracting Gen Z. 

Growth and development: Lack of growth opportunities is also a determining factor among Gen Z. Gen Z has a strong desire for professional growth and prefers businesses who provide clear paths to advancement. Encourage your managers to build career paths and ensure they provide regular training with their team. In an analysis of Gen Zer’s motivations, Korn Ferry global engagement data shows that 76% of them view learning and development as an important driver in their own engagement. The opportunity for growth within the organization and encouraging professional development  is not only crucial in attracting and retaining Gen Z, but also in ensuring they are engaged employees. 

Culture: To build a positive workplace culture, it is important to have a company mission, purpose and values, but that alone isn’t enough. Employers need to weave these values into their everyday practices. In a Deloitte study, about 44% of Gen Zers reported that they have rejected positions that do not align with their personal values. Creating a positive culture is a conscious effort. A few ways to do so are celebrating successes, encouraging managers to regularly provide constructive feedback or have regular team-building activities. 

Labor shortages remain across the US and employers nationwide will need Gen Z workers to fill these vacancies. The businesses that win the Gen Z talent over, will be those that prioritize incorporating what makes Gen Z unique.  Through considering this advice, businesses can make a work environment that is appealing to Gen Z.

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Read more: How to recruit remotely