gen-z workforce

Prepare for Upcoming Gen-Z Workforce: There Will Be More of Them Than Other Generations

The millennial workforce is about to get even younger. And just when you thought you had them figured out (or still not), new studies have broken them down into two categories: the Gen-Ys born from roughly the late 1980s to the late 1990s and the Gen-Zs who have been following them in the nursery room from the late 1990s up to today.

They’re also known for getting the brunt of criticism from the older generations composed of Gen-Xs and Baby Boomers. Yes, they have more technical expertise, social media savviness, entrepreneurial passion, and a genuine desire to make the world a better place to live in. On the other hand, they’re also criticized for lacking loyalty (to their employers), not capable of putting in the work hours that a job demands, and possessing a sense of entitlement that expects the world to follow their way.

The younger Gen-Zs are in high school and college right now. One would think it’s a long time, but wait a few years when they become part of the global workforce. Once that happens, Forbes says they will make up 25 percent of the American working population, eclipsing the numbers of Gen-Xs and Baby Boomers. Are you prepared for them?

Current research creates a profile that mixes the worlds of the millennials and the Gen-Xs. They are as tech-and-social-media savvy as their older siblings, share their entrepreneurial spirit, and yet appear to have the same values of their parents, the Gen-Xs. To illustrate: a Gen-Y and a Gen-Z would want to put up their own business eventually. That’s their dream goal. A Gen-Y aka millennial would treat his day job as a hobby and instead focus on getting investors for his dream company; the minute he gets the big bucks, the day job disappears. A Gen-Z would act a bit differently: while finding investors for his big idea, he would still work hard on his day job and give it his time, energy, and commitment. He sees his day job not as a passing fancy but as an opportunity to learn things as well as a means to financial security before he hits the big time.

As Gen-Zs from all parts of the world pine for that international assignment someday, what can global mobility specialists do to anticipate their role with this younger millennial set? Here are some tips for them to maximize this generation’s talent while also developing their loyalty:

Emphasize the advantages of true employment, including job security and benefits

It may only be a matter of time before your Gen-Z assignee flies the coop and says he wants to put up his own company. But it will take time before he does so. Unlike the Gen-Ys, Gen-Zs have inner securities about engagement in long-term work or being offered work opportunities. In one survey, 32 percent of them believe they had missed out on some great options, while only 56 percent think they will achieve a better life than their parents.

To keep your assignee motivated, give him an idea of the career progression he can earn in the company if he continues to perform. Mention the benefits that his family can enjoy, if any. If your assignee is based in a state like Northern California, then saying that the job allows work-life balance will become an easier promise to keep.

As CNBC puts it, offer him “real perks.” Free lunch meals and playtime at ping-pong won’t cut it. A solid compensation package, medical insurance, and paid leaves will.

Impart to him the company’s true mission and vision, and how his work contributes to the greater good; no patronizing here

Like his millennial siblings, the Gen-Z wants to know he is making an impact on society. Showing the grand scale of how the company is creating a difference in the world will motivate him to perform even better. Show him how his own job goes a long way, for example, in bringing internet access to remote areas or providing medical service to the underserved.

If your assignee is working in a Silicon Valley startup, do not neglect the human factor amid all the tech hoopla; again show him how that particular software that he is devising will soon transform a derelict moribund organization into a powerhouse that can potentially employ thousands.

Invest in their training to earn their loyalty. Fortune says that Gen-Zs have a thirst for learning, especially for knowledge and skills that can boost their career. Providing them training will equip them to increase and attain their business objectives. At the same time, it will keep them tethered to your company because they will want to continue their education.

The Gen-Zs’ desire to put up their own company and yet maintain job security can confuse them. They want to find their dream job and stay in it for another ten years. At the same time, they realistically expect to stay in their first few jobs at an average of three years’ each before moving on.

Global mobility specialists can provide them that balance and keep them engaged for years by understanding what they value and offering them the right working environment and tapping into their deepest motivations.