Today’s corporations are faced with skills gaps, talent shortages, and aging employees. To overcome these challenges, organizations need to look to younger employees – but what can businesses do to appeal to and retain the best talent from among Generation Z and millennials?
Firstly, employers need to understand what makes these younger generations worth the sweat. Millennials and Generation Z rent more than the purchase -and this “sharing economy” allows them to relish everything from designer clothes, vintage furniture, music, cars, and even pets without the bother of ownership.
That says a lot about younger generations. Those who share things rather than own them outright aren’t after jobs for life – they’re interested in experiences. While hiring a younger workforce might seem like a risk, it could actually be one of the best choices you make for your business.
Now more than ever, an increasing number of companies are seeking young talent. Today’s job market is booming with young individuals looking for work, and their background/experience is often perfect if you’re looking for an employee to develop to the shape of the business.
However, attracting and retaining a younger workforce may require a different approach to promoting your business. Unlike their parents, the major events in youth’s lives are different, and they’re seeking workplaces that respect their career goals and needs.
Above all, younger generations want their employers to care about wellbeing.
The year 2020 stressed the importance of employee wellbeing for most companies. If the people in your company aren’t healthy – emotionally and physically -your company isn’t healthy either. But a company’s stance on employee wellbeing has long been a critical factor in workplaces and how they feel about their employer – at least, it was a top issue for every generational cohort before the pandemic.
Most companies have implemented wellness programs – but as we well know, physical wellness alone is never enough. For instance, Millennials may be physically healthy but suffer from social anxiety that hinders their productivity. Entry-level employees may be experiencing severe financial challenges that affect their daily performance.
Whether we like it or not, we need five elements of wellbeing – social, career, financial, community, and physical – in order to thrive and live a well-lived life.
Gen Z and Younger Millennials Want Employers Who Support Inclusive and Diverse Workplace
This generation grew up in a society that was way more diverse than previous generations. They want equity, respect, and inclusion – and they’re voting with their employment and consumer choices.
Diversity, respect, and inclusion are more than a “nice to have” for Gen Z: it’s a must that is central to their personal identities. One way to think of these attributes in the workplace is individualized respect. Young employees want to be valued for their unique contributions, and they want to feel appreciated.
Hiring Gen Zs and Younger Millennials to Future Proof Your Organization
Agile and flexible working and job-sharing prospects are all ways of helping workers – not just millennials – maintain a healthy work-life balance. Today’s organizations also encourage job swaps and international assignments as means to ensure skills and business know-how are available and shared where necessary, as well as being important tools to generate developmental opportunities.
Gen Zs and Millennials often start and interrupt relationships with companies because of the company’s positive or negative impact on society. Today’s brands can make meaningful contributions through their technological development, reach, and people, be that through environmental challenges or building better digital lives, for instance. Now more than ever, companies have a greater chance of capturing the hearts and minds of the younger generations. Those who are investing in young talent now will be repaid through loyalty, advocacy, engagement – all of which are imperative in a future-proofed organization.
Affordability and Community Connections
It’s more effective to grow your own workforce rather than seeking talent and buy-in skills later on. Gen Zs and Millennials tend to have less work experience since they’re newly arrived in the workforce. To help reduce the unemployment rate, local governments affirm their commitment to maintain and expand opportunities for local young people.
In what is one of the most challenging periods for younger people, local authorities, leading agents in the Newcastle area, and brands are leading the way in supporting youth employment prospects and pathways to careers. Young people looking for work need an environment where they can learn from experienced professionals regardless if they start at a lower salary than more experienced employees doing the same job.
While a lower salary means lower-income expenses, costs are not the only considerations when hiring new employees.
Millennials Will Bring a Fresh Perspective into Your Business
The great thing about younger generations is that they bring ideas and fresh outlooks to your workplace. They also represent an advantage for your business if you’re trying to attract younger audiences. A new generation means new perspectives on many different things. They can bring an attitude of openness to your workplace; they value equity and celebrate difference and inclusion. Employing Millennials can help your company keep up to date and provide a diversity of ideas and experiences.
To audiences their own age, Millennials are familiar. Younger teams can help create marketing strategies that appeal to their age group.
A willingness to Learn
Training is key for the newly arrived Millennial workforce, as they are essentially a blank slate. Younger people don’t have bad or old habits like more experienced staff might. They don’t hold grudges nor have massive egos built in previous experiences, which can often be a challenge for co-workers and employers. Not to mention they are great at coping with change.
What’s more, the younger workforce can be trained to suit specific business needs. If the idea of training Gen Z and Millennials intimidates you, you’ll want to develop a training program that addresses both the strengths of younger employees and the realities of your company.