The Future Of Work

According to research conducted by the demographer Mark McCrindle, Generation Z (those born between 1995 and 2009) will comprise a third of Australia’s workforce by 2030. These young people entering industries all across the country are bringing a unique set of attitudes and expectations to the workplace, heralding a new future of work, one that is radically different from what it has been for the past decades.

In order to hire, manage, and retain talented individuals from Gen Z, employers need to understand the outlook and motivations of these young workers and adapt how they conduct and operate their businesses to meet the demands of a changing workforce.

Growing up in a globally-connected and hyper-aware world

For Gen Z, their formative years have been marked by significant global events - they have witnessed the effects and aftermath of the global financial crisis in the 2000s, rapid technological progress, and the proliferation of the internet and social media.

Along with that, they have lived through a global pandemic, with many having to start their careers during this tumultuous time. They are also the most climate-sensitive generation, wary of the deteriorating health of our planet.

As a result, Gen Z gives great importance to doing work that has a net positive impact on the world around them. In the words of McCrindle, “We’ve got a generation looking for careers and roles that are around purpose, meaning, values resonance, community connection and making a difference or having an impact”.

Attracting and retaining Gen Z talent

Here are four key areas employers should focus on if they want to future-proof their businesses and maintain a steady stream of inbound Gen Z talent.

Align your company’s values with their values

Traditionally, employees used to be the ones adhering to a company’s values. This is no longer the case. Gen Z employees increasingly prefer working at companies whose values align with their own, and are averse to companies that prioritize profits that come at the cost of significant harm to society and the environment. They expect businesses to be a source of positive impact in the world.

As an employer, you can take steps to effectively communicate how your company improves the lives of your customers, how it safeguards the environment while executing its operations, and how it gives back to society. If you can connect the dots properly, you will see high levels of engagement from Gen Z employees and a low turnover rate.

Embrace flexibility and intrapreneurship

A large proportion of Gen Z employees believe that the 9-5 routine of old is no longer necessary, especially given the current state of communication and video-streaming technology. They prefer companies where they can work like ‘entrepreneurs’, i.e. where flexibility is a core part of how people work, where you are empowered to take important decisions, and where the emphasis is on delivering results instead of on how and when you work.

For businesses, this means offering a work-from-home option to employees and not making them feel guilty about taking it. This also means promoting personal and professional development by encouraging employees to engage in side projects and upskilling. All of this only makes them better at doing their jobs.

Promote a culture of collaboration

Because they place great importance on creating a positive impact in the world through their work, Gen Z employees seek to collaborate with their peers to achieve that common goal instead of competing against each other and engaging in petty office politics.

In many cases, a toxic workplace culture can be a deal-breaker for many young professionals who would rather accept a lower pay than work in a company with such an environment. Businesses that can make sure everyone feels like a part of a team striving towards a common goal will find it easy to hire and retain Gen Z talent.

Care about life outside of work

Young workers today are increasingly demanding that employers care about their general well-being and life success. This involves supporting employees in not just their professional, but also their personal, educational, and other objectives.

This requires leaders who are also excellent coaches and mentors. Businesses that can facilitate the overall life success of their employees will have a significant edge in retaining Gen Z talent and getting the best out of them.

At Segen, we place great emphasis on ensuring that there is a strong alignment of cultural values, attitudes, and expectations between the high-quality professionals we find, and the clients we find them for. If you’re looking to unlock growth for your organisation, take a look at our recruitment solutions here.