Gen Z, currently those who fall in the 18-25 year range, are beginning to become an emergent force in the job market. That said, many people have preconceived notions regarding what these younger workers want, citing a fun environment and more recognition at work. Contrary however to such opinions, it seems that this generation has a far more practical set of expectations when it comes to their work life. According to a recent survey, among their top wants health insurance and retirement benefits.
Some experts note that this generation is the most educated generation yet. That said, education costs money. They thus understand where the value lies and consequently how important benefits packages are when they do enter the workforce. The survey also showed that Gen Z prioritizes student loan help as part of their career benefits nearly ten percent higher than their millennial counterparts.
For business owners looking to attract this young talent, one good way to do so is through social media versus more standard channels. Gen Zers have never known a world without social media. This is their primary go-to for essentially anything.
When Gen Zers do start the actual job search, beyond the benefits package, they are also looking for firms that emphasize an inclusive and friendly work environment. The study suggests that over sixty percent of those polled said if at the interview they did not get a positive vibe, they'd turn the job down.
Other things for prospective employers to note about Gen Z—they are not big fans of cubicles and by the same token, they're also not that on board as far as the open office concept. Almost sixty percent did say they'd prefer to work remotely. This generation is way ahead of their older peers as far as learning and training. With almost ninety-five percent answering that they spend their own out of office time working on upskilling.
What are some of this generation's deal-breakers when it comes to looking for a job? First off, it's important to note, that of those surveyed over thirty percent said they thought it fine to stay at a position for less than a year. They tend to think more short term stints, rather than life long careers. Some other Gen Z deal breakers:
- Negative social impact
- An inflexible work schedule and environment
- Poor work-life balance
- Little advancement opportunity
Soon enough Gen Z is going to be quite prominent in the workplace. It is thus important for small business owners to pay attention to what they are saying, what they're asking for, and what they prioritize. Needless to say, every generation is different in some respects and Gen Z is no exception.
First Union Lending would love to be able to help your small business during this challenging time. If you need additional cash to make it through this, we can certainly get you the funds you need. Call today and let's get started together!