Talent scarcity is the greatest concern of executives around the world. As Generation Z (the generation born in the mid- to late-1990s) enters the workforce, companies will need to fine-tune their Employee Value Propositions (“EVPs”) to favourably position themselves in the ongoing competition for top talent.
Gen Z has largely only known a world in which technology enables universal flexibility. Research has also shown that attention spans tend to be shorter given the increased availability of technology in everyday lives. This will present unique challenges to managers, supervisors, and Human Resource leaders in every sector.
This depends on how much misalignment there is between what an organization promotes and what Gen Z prioritizes. Our study revealed that:
“Gen Z considers Career Advancement, Work/Life Integration, and Work Culture among the most important aspects of their workplace. Within the broader categories of Work/Life Integration and Work Culture, Gen Z survey respondents prioritized Flexibility, a Collaborative Work Environment, and Transparency, a finding that was confirmed by Mercer’s 2017Talent Trends results.
While recruiters are effectively communicating an organization’s Work Culture to Gen Z, they are less successful in conveying possibilities for Career Advancement and ways in which the company supports Work/Life Integration. In fact, a third of employees who asked for flexible working in the US/Global were turned down this year, according to our latest report.”
Converting these findings into an effective and sustainable solution for your organization will require a deliberate consideration of your overall talent management strategy and customizing interventions that supports Gen Z within your multigenerational workforce.