Around 20.2 million workers left their employers between May and September of 2021. In the time of the Great Resignation, hiring and retaining workers has never been so important. With so many people retiring, employers are looking to Gen Z to fill the gaps, but this new generation has different needs from previous generations.
Diversity, Equality, and Inclusion
Recent surveys have found that 87% of Gen Z’ers reported diversity, equality, and inclusion (DEI) strategies in the workplace were very important to them. In fact, 86% of this demographic said they would be interested in contributing to these strategies. Conversely, if it became clear that DEI programs were not a priority after coming on board, many left. Therefore, employers who are struggling to hire or retain employees should look to reinvigorate their DEI programs.
According to a report by the American Psychology Association, 70% of Boomers, 51% of Gen X’ers, 56% of Millennials, and 45% of Gen Z’ers describe their mental health as either very good or excellent. The youngest generation has grown up in a time where therapy is much more commonly accepted, so comprehensive wellness packages focusing on mental, physical, financial, and social wellness are an important add to your benefits offering.
A 2020 study from WeSpire found that Gen Z is the first generation to put purpose ahead of salary. Tallo research said 72% of Gen Z applicants are looking for an ethical boss and 47% want a job that makes a social and economic impact. The pandemic has proven that workers who don’t feel satisfied with their work or workplace conditions will leave, so employers should clearly communicate and emphasize their values.
Research has shown mixed results as to what Gen Z applicants are looking for in terms of remote, in-person, or hybrid work options. Experts believe this is because people prefer the ability to choose. Some workers crave the stability and sense of safety working from home provides them while others need the social aspect and drive of working in-person. It is speculated that the majority prefer something between the two. Offering flexibility in workstyles is key in hiring and retaining employees.
Connection and Recognition
No matter the work style, employees like to feel connected to the company, its values, and their fellow coworkers. Some companies are checking this box by hosting social events, either online or in-person. Others are implementing a more team-based, collaborative work style promoting the opportunity to recognize each other’s good work. Workers are much more likely to stay with their employer if they feel their work is meaningful and recognized.
Hiring and retaining employees can feel difficult but when revamping your strategy, it can be helpful to focus on one thing at a time. If you have any questions, feel free to email us at firstname.lastname@example.org.