Gen Z is ready to get to work. But, is the workforce ready for them? Young Australians are entering the workforce – and then leaving again, quickly. As we speak, 30% of Generation Z respondents are looking for a new job.
Our findings reveal several key issues which are necessary knowledge for future-ready employers. We’ve discovered the priorities of Gen Z employees: work/life balance, positive culture and convenience.
We’ve also uncovered some major barriers in standing between Gen Z and employers. Misaligned expectations about flexibility, money and support are leading to dissatisfaction and high exit rates.
We want to help! Let’s start an insight-driven conversation about the future of work.
What is included in this 35-page report:
- Who is Gen Z at work?
- Key findings
- How to hire and retain Gen Z
- Future of work insights
Understanding Gen Z in the workplace: Who Are They?
Gen Z is entering the workforce, and they’re not like anything we’ve seen before. They share different values with Millennials and baby boomers, and have different expectations when it comes to the workforce.
Let’s break it down and take a look at who Generation Z really is. This will help prepare your organisation for the next generation knocking on our doors.
Who is Gen Z?
Gen Z is the cohort born between 1996 and 2012, and when it comes to working, they know what they want.
So why do you need to be thinking about this now, I hear you ask? Because they’re coming in the door as we speak and will make up the majority of the workforce before we know it.
With this being said, it’s important you’re aware of their values, expectations and behaviours so you can attract and retain top talent in a way they respond positively to.
What does Gen Z look like?
This 35-page report covers everything you need to be a future-ready employer so you can attract and retain this upcoming generation knocking on our doors.
Based on our own research, the majority of Gen Z still live at home (68%) and are just beginning to enter the workforce.
Currently, 16% work full-time, 25% work part-time, 20% work casually, 17% are not currently working, and 19% have never worked.
They love all things digital, personalised experiences, and diversity. A healthy work-life balance in the workplace has significant value in leading a lifestyle they enjoy.
What is Gen Z looking for in the workplace?
When it comes to Gen Z in the workplace, they’re looking for a fulfilling career. With roughly 37% of Gen Z working in their desired career, this leaves an overwhelming 63% of employees dissatisfied with their work.
However, for those aged between 20-24, the number increases to 46% being satisfied with their roles, a trend suggesting that as they become older, they’ll settle into a career they enjoy.
Alongside career trajectory, Generation Z prioritises income, with 15% of Gen Z stating this is their top priority when job hunting.
This proves that they’re savvy and not willing to settle for low rates of pay. They know their worth and are looking for employers to invest in their potential and skills.
Add in great company culture, transparent employee communication and genuine care for employee mental health – you’ll have the recipe for attracting and retaining Gen Z.
They’re aware of the saying – working to live, not living to work, so they place a high value on having a positive work culture and mental health days.
Additionally, 75% of Gen Z employees now expect their employer will provide mental health support, such as an employee assistance program (EAP).
If you’d like to learn more about our EAP, get in touch with one of our small business specialists today to walk you through a demo.
What does the future of work look like for Gen Z?
Currently, the oldest Gen Z is 25 years old. They’ve recently finished studying and will continue to enter the workplace in force over the next 15 years.
With Gen Z, 75% of workers plan to leave their current place of employment in the next two years and 49% plan to leave within one year.
This is because younger workers are looking for roles that can expand their knowledge and have a strong career trajectory.
Being born during the era where mobile devices are in the mainstream, their tech-savvy nature naturally puts them in front of other generations who have had to learn technology.
What about the not-so-distant future?
The average age of a CEO is 58 years old. This means that in 35 years’ time, Generation Z will be the CEOs of the world.
They’ll have different values from leaders today, and until then, we can only watch as they begin their climb on the career ladder.
Based on their values, we can expect their management style to take a more relaxed, creative approach, with a focus on technology.
There may be higher adoption rates of workplace solutions (such as recruitment software) that help streamline workflow and improve efficiency.
Surprised? Nope. Neither are we. With this in mind, it’s important you invest in their learning and development to shape the leaders of tomorrow.
The Wrap Up
Generation Z is here, and they’re like no other generation we’ve seen before. If you want to attract and retain top talent, it’s crucial you adapt to their expectations and values.
If you don’t, you could see top talent walk out the door. They’re looking for employers who are ready to invest in their learning and development, value good pay and want to work for a company that has a good culture.
If they don’t experience this, you can expect them to already be looking for their next role. Ready for Gen Z? Go on, start strategising how your organisation can adapt to attract and retain top Gen Z talent!
Download our report now to get access to get in-depth insights into Generation Z in the workplace.