Our last article entailed new kinds of workplace trends to be expected. Continuing from that topic, let’s narrow it down to Gen Z.
Who are they?
As Gen Z steps into the workforce, their upbringing in a technologically advanced world has led to a dependency on the internet even for their work. With them inseparable from their smartphones, they are consciously and unconsciously broadcasting their lives and opinions digitally.
The ongoing pandemic has not only affected the economy but also caused a lot of anxiety and stress to the people newly entering the workforce. As part of the biggest percentage of those entering the workforce, Gen Zs are faced with unprecedented circumstances such as job insecurities, social distancing and economic decline which has undoubtedly taken a toll on some of them.
The pandemic changed the reality for Gen Zs, seeing how flexibility in the workplace is becoming a norm, this naturally influenced their thinking and moulded their expectations of an ideal workplace environment.
It is no wonder that businesses now recognise the need to accommodate these expectations that could cause dramatic changes in work culture and business models to recruit and retain their young talents.
Value-based careers
As mentioned previously, as part of a generation raised in a digitally connected world, Gen Zs are known to be vocal in world issues and involvements in social justice. . They tend to have no hesitation to take action when an issue goes against their beliefs, and this trait is usually carried over to their professional lives
This means that their values and beliefs will influence their career path should they perceive that a company’s values do not match theirs.
According to Deloitte’s 2021 study on millennials and Gen Z, 40% of Gen Z in Singapore are stressed out and anxious as well as being highly conscious of the topic of mental health. As such, Gen Z tends to make career choices for companies that value a work-life balance.
This could leave companies that are resistant to change behind that could suffer a talent shortage when their older employees retire. Gen Z is particularly looking forward to making a positive societal impact and industries and organisations would have to take into consideration this factor if they plan to hire young talents.
Flexible choices
Yes, Gen Zs are the group of people that do not favour the typical 9 to 6 workweek. And now that flexibility in work arrangements have become fairly common, a healthy work-life balance is an easily attainable concept for them. However, it is not to say that they completely resist the idea of returning to the office and simply prefer the idea of having a life out of work.
A flexible working life gives this generation the freedom to pursue and grow their personal and professional life. They prefer to not revolve their entire working life around paying for study loans and fulfilling “adult responsibilities” before being able to truly enjoy personal interests and hobbies during their retirement. The separation of work and personal lives is one of their workplace expectations.
The Deloitte study supported this claim that 60% of respondents agreed that their companies are in support of flexible choices. Plus, 40% of them believe flexibility and adaptability are characteristics that contribute to a company’s success.
Benefits and perks
As funny as it may sound to the older generation like the Baby Boomers, today’s graduates are looking forward to perks and benefits that would aid in the non-professional part of their lives on top of the usual basic benefits.
Unlike its predecessors, Gen Zs are less likely to prioritise retirement savings. It is not like they do not think of setting up a safety net for when they get older but they pretty much prefer to live in the present aka carpe diem.
Hence, Gen Zs naturally tend to expect benefits that match their beliefs. Lifestyle benefits are becoming a popular offer. Gym memberships and access to mental health preventions subsidies in hospitals are some of the common ones. In an age of isolation due to COVID-19, keeping employees mentally fit is an attractive perk for the young ones.
As long as these added employee benefits help to let off steam, it would make a company more likeable and attractive to Gen Zs, who are currently making up the new cohort of workers in the working world.
With new generations entering the workforce, they bring in fresh perspectives for businesses to shape their work cultures and benefits. An employee and employer relationship is a give-and-take situation and so, employers would have to meet certain expectations that match these new recruits in return. Only those that stay open-minded to changes will most likely be able to attract new young talents.
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