Radi and Miranda talked in depth about the standards of Gen Z workers and how companies need to shift their culture in order to attract and retain a new, younger, group of talent.
They discussed the current demographic of workers and how by 2030, every boomer will be 65 years or older, retired, or will soon retire. This generation, that so significantly shaped democracy, government, the labour market, company cultures, company hierarchies, and the world of work in general, will make-up only 15% of the workforce.
The culture fostered in the workplace by boomers is extremely different to the culture that Gen Z are expecting and wanting to work within. With a continuous talent shortage, Gen Z have hardly experienced trouble in finding work, and 75% of them expect to have a job immediately after leaving school. In the US alone, 12M jobs are expected to be created by 2030, with only 9M new entries into the workforce. With this pool of employers and roles available, Gen Z are much more inclined to choose a job based on benefits, pay, social responsibility programmes, diversity and essentially whatever aligns with their opinions and personality best.
Miranda and Radi also explored how, for Gen Z, technology is part of them, used to enhance their lives. Smartphones and Snapchat are part of their eco-system of peers. But when it comes to purpose in life and in work, they crave face-to-face/in-person connections and building meaningful relationships. ManpowerGroup have termed this current time: 'the new human age'. For them this is a time where people, especially the younger generations, are using technology and digital tools to enhance human connections, be more productive, and live more meaningful lives. It is in this New Human Age, that our newest generation will enter the labour market, and it is in this age, that your brand has to make a connection to have impact.
Across every global issue—from Diversity, Equity, Inclusion, and Belonging (DEIB) to Climate Change to the LGBTQ movement—Gen Zs are demanding more from their employers. 68% of Gen Z workers are not satisfied with their organisation’s progress in creating a diverse and inclusive work environment and 56% would not accept a role without diverse leadership. The role and expectation for businesses has never been greater, and organisations need to have a clear and genuine purpose if they want to attract, develop, and retain Gen Z talent.
Radi and Miranda also reviewed the way in which Gen Z want their opinions valued and appreciated. They want to have opportunities to feed the innovation cycle of a business – for knowledge-sharing and collaboration, to find a way to hear and engage their voice to help inform the future business decisions. Gen Z are looking to inspire boomers, so as they understand the culture and climate of accelerated change in which the world exists today and to be better placed to respond to keep pace.
The closing sentiment was a statement of encouragement to businesses: engage with Gen Z, appreciate and respect their strengths and gifts, and coach them with their vulnerabilities, giving them what they lack: experience.