Just as employers are finally making sense of millennials, along comes the next, far-more-tech-savvy generation – so how can businesses be sure to attract the brightest and best?
The media has a rather nebulous definition of ‘millennials’ – anyone born between 1980 and 2000 is breezily lumped into this chunk of the population. Derided as lazy, entitled narcissists who still live with their parents, Time magazine dubbed them the ‘Me, me, me generation’.
But it’s a broad brush to paint with, as mid-thirtysomethings clearly have different drives and aspirations to teenagers playing Call of Duty in their bedrooms. Perhaps that’s why there’s so much confusion when it comes to understanding this catch-all generational term, and no surprise that we now have a different category to consider.
The new kids on the block are post-millennials or ‘Generation Z’ – those born between 1995 and 2012 – who will be walking through the glass door in the next decade. And already we are mystified by their tech-savviness and the world they inhabit.
The question for businesses is fast becoming how to attract these bright young things, especially at a time when they face the very real prospect of never needing a ‘proper job’. Take YouTube sensations Zoella and Alfie (Zalfie) - heroes to the younger generation through their wildly popular online vlog. Zalfie capitalised on their 18 million subscribers through a lucrative advertising partnership with YouTube. This September they were immortalised in wax at Madame Tussauds as part of a new ‘YouTube area’, leaving the rest of us asking ‘WTF?’.
And you can forget pocket money – since e-gaming became a spectator sport through Twitch and YouTube, young gamers can earn intimidating sums of money before they’ve popped their last zit.
By 2030, many of the world’s largest economies will have more jobs than skilled people. As a result, the talent market is going to be more competitive than it is today. Being able to predict the future workforce is more essential than ever.
But just how will that future workforce think and operate? Will they disrupt the culture and conventions of the workplace by choosing to work remotely and being their own boss? Or will the insta-generation be whimsical and easily distracted, chasing PokÉ pidgies around the copy machine?
Gen Z are undoubtedly Techno Sapiens. At no time in history has technology moved so fast, and this bunch are digital natives. They’re the ‘always on’ generation, connected 10+ hours each day through high-speed mobile devices, allowing them to consume and share content with ease. They easily adapt to new technologies and implement them in their workflow. They’re very comfortable interacting online with their peers.
Connectivity has been empowering for Gen Z as they’ve been able to enter the business arena much earlier. The anonymity of the internet and remoteness of online transactions affords them a credibility they simply wouldn’t get offline. People don’t stop to consider the developer’s age when using an app or online platform that adds value to their lives.
George Streten, teen tech entrepreneur and a founder of start-up Space Lounges, says there are pros and cons of working at a younger age. “It has a major effect on people’s perception of you,” he says.
“Different people deal with youth in different ways – some see it as being unique and fairly amazing that we have the motivation to be working off our own backs, others see us as being ‘children’ with no experience. The latter is something that we have to work especially hard to overcome.
"A major advantage, however, is the fact that people seem to be far more welcoming to support you… Entrepreneurial spirit at our age is a major factor in fast-tracking the processes that take far longer for traditionally aged entrepreneurs.”
Employers: get ready
But there are plenty of Gen Zs who don’t want to break out on their own, so how do employers harness the creativity and tech understanding of this generation to empower their businesses?
A company’s vision and clear communication of purpose and values is critical to Gen Z when choosing an employer, according to a recent Universum survey. It found that 39 per cent of those surveyed said vision, mission and values were the most important aspects in inspiring leadership, with 37 per cent calling for professional development, open communication and feedback.
Silicon Valley companies such as Google and AirBnB have learned this lesson and are incorporating entrepreneurship in the workplace experience through ‘hack days’ and by improving the workplace culture with hands-off management and project work.
“To stand out, employers need to think about their employee value proposition (EVP),” says Katie Faulkner, Managing Director of Excel Recruitment. “What makes you special as a company to work for? What are the unique benefits you offer in return for their skills, capabilities and experience? Companies need to define the essence of what makes them a great place to work, how they are unique and what they stand for. This can be discovered through workshops and focus groups with your existing staff, so you can effectively communicate your EVP through the right marketing channels.”
But what channels will Gen Z be using to search for their future employers? According to the Universum report, 60 per cent of Gen Z specifically search for an employer through Facebook, while 83 per cent of young students are open to the idea of being contacted on social media by a future employer.
So how are recruiters adapting to this brave new world? Shelley Kendrick, Director of Kendrick Rose Recruitment in Jersey, says: “The focus of our business is digital. We’ve revamped our website this year and refocused our efforts on social media. In many ways it’s become an employee’s market now so we need to go where the people are by having a strong online presence.”
Workplace culture
According to Universum, Gen Z’s greatest fear is being stuck in a role where they don’t fit and can’t grow. Thirty-seven per cent were concerned they wouldn’t find a job that suited their personality and 36 per cent were worried they’d have no development opportunities. The number one aspect for a personality match was ‘friendliness of people’.
Katie Faulkner underlines this workplace culture issue. “Personal recommendations matter to young people. As we’ve seen on social media, young people tend to have shorter attention spans and are unlikely to watch a web video that’s much longer than 30 seconds,” she says. “But they’ll watch it if it’s been recommended by a friend. You can use the same peer-to-peer network to attract and hire young talent. If you create a workplace culture that’s innovative, friendly and open, young people will refer your company to their peers.”
In the finance industry, with vast amounts of capital administered in global markets, attention to detail is a key skill. The insta-generation is accustomed to split-second videos, condensed Tweets, skipping to the good bit. Should the finance sector be worried, then, about their levels of concentration?
Shelley Kendrick is more optimistic. “Zeds favour speed over accuracy and organisations need to adapt to their style of working,” she says. “We’re already starting to notice new trends. The ‘workstation’ has been outmoded by hot-desking from hand-held devices, and meetings are being held virtually rather than face-to-face. The young generation can process information quickly and make swift decisions. Zeds will further set the pace.”
She adds: “Businesses can invest ahead of the curve by working out the logistics of work sharing across virtual private networks. Data security will need to be a priority, especially in finance, but organisations must adapt and recognise that ‘Z’ is different.”
Research has shown that a large proportion of Gen Z wants to join the workforce and bypass Higher Education – 62 per cent of those surveyed by Universum are open to the idea of going straight into work instead of pursuing university studies.
Whether they’re trying to attract Gen Zs who want to go straight into work, or those that do want to go to university, where does all this leave the Channel Islands? “There will always be skills shortages because of the logistics of the island, housing regulations, five-year ruling, and so on,” says Kendrick. “It’s difficult to attract bright young graduates back to the island when 60 per cent of available jobs are in the finance sector.
“Zeds are attracted by other industries, such as digital and tech. We are starting to diversify our economy with inroads in digital and non-profit sectors, but there’s still work to be done to stem a potential Gen Z brain drain.”
Faulkner concludes: “There are steps a company can take to ready themselves for the next generation. They can provide bursary schemes to help with university fees, offer clear professional development and the opportunity to travel. There will always be generational differences but the greater proportion will want a secure, stable career with attractive prospects. We know what’s important to Generation Z; we just need to learn to speak to young people in their language.”