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June 2018

Enough About the Millennials: What About Generation Z?

Enough About the Millennials: What About Generation Z?

The world is full of Millennials, literally. These young people will officially outnumber Baby Boomers as the largest generation sometime next year, and as a result it's easy to forget about Generation Z (young people born between the mid-1990s and early aughts). We've spent so much time in the past focusing on how to handle Millennial retention and how to keep these workers happy, and it seems as though Generation Z has fallen through the cracks.

While we know that Millennials want to matter in the workforce, what about the people from Generation Z you recently brought on board? What are HR executive search experts and staffing firms saying about the youngest generation of workers? It's time to forget about Millennials and start focusing on what Generation Z wants.

We know that 86% of companies with an employee recognition program see an improvement in worker satisfaction, and such strategies will be key as Generation Z enters the workforce. Forbes contributor Christine Comaford writes that "Gen Z tend towards being impatient and often experiene FOMO (fear of missing out), so instant feedback and satisfaction are key."

Additionally, the Generation Z-ers are focused on money and job security. They see that as a top motivator for why they do what they do. Compared to Millennials, who want to do work for a purpose, the Generation Z group still wants to make a difference but also feels as though surviving is more important. People from Generation Z want to advance in their careers and want to do so quickly. They are looking for a boss or manager who can be honest and transparent with them in terms of if they're going to move up in their company or not. Oddly enough, they feel as though the separation of generations within a workplace has made things extremely complicated. They're focused on salary and benefits and want to see if the number is constantly going up.

Ultimately, safety means more than anything to people from the Generation Z group, who grew up watching their parents cope with 9/11, the housing market crash, the student debt crisis, and the Great Recession. Thus, they are looking for some sort of stability within the workplace, but aren't afraid to take risks to be able to advance further in their careers. As a whole, the group is very focused on creating their own projects instead of working within a group. In addition, they're extremely competitive and want to show it off.

But, much like Millennials, Generation Z-ers truly want their managers and bosses to understand exactly what they're doing their job for. Of course, whether your employees are mostly Millennials, Generation X-ers, or even pre-retirement Baby Boomers, all workers are extremely important and crucial to a workplace. Without them, the company you own or manage would be empty. Take the time to speak with your human resources team and HR executive search committee to figure out how you're going to focus in on each group's needs and wants.