There are two important questions you should be asking right now about your business: What are Generation Z looking for as a consumer and as an employee?
With a global population of 2 billion people, Generation Z, those born between the years 1995-2010, comprise a large portion of the talent market, and as a result, companies big and small are looking at how they can attract, retain, and grow the next generation of top young talent on their teams.
Gen Z, also known as the 'Digital Natives' are the first generation to grow up in a world surrounded by touch screen devices, social media, and Wi-Fi connectivity. As a result, this generation thinks and approaches their careers very differently from other generations that have come before.
Young professionals today are not just digitally literate but also digitally confident, and as active digital citizens, they have deep care and passion for the world around them and are looking for opportunities to help make the world a better place.
With the oldest Generation Zs now approaching their late twenties, here are some of the trends we are noticing for our next generation of top young talent:
Purpose over profits: Young professionals are willing to take up to a 30 per cent pay cut to work for a company or a cause that they truly believe in.
Generation Z are incredibly passionate about making the world a better place and is looking to work for organisations that are actively making a difference.
Flexible working opportunities: For Generation Z, flexible working arrangements are a non-negotiable when looking for jobs.
Young professionals are looking for roles that offer work-life balance, and the ability to work from home or remotely is something many consider when choosing future careers and employers.
Sense of ownership: Generation Zs are looking for a workplace that makes them feel valued. Young people don't want to work a job that makes them feel like they would be replaced the moment they quit.
This is why we are seeing a significant shift in top talent opting to work for start-ups, charities, and not-for-profits rather than traditional corporates.
Ensure you empower your staff to take ownership of their projects and make them feel like valued members of the team.
Team culture: A strong trend that has become clear among Gen Z in recent years is that they are considerably less tolerant of toxic corporate cultures than other generations.
This generation is looking for a place they enjoy coming to work, a team they enjoy working with, and work they enjoy doing. Ensure you are investing in creating a dynamic team culture where everyone can share their ideas, and employee happiness is highly valued.
Human-to-human connection: While Gen Z have been nicknamed the 'Digital Natives', this generation craves connection. Whether face-to-face or online, ensure you provide the young professionals on your team with opportunities to connect, collaborate, and build relationships with one another and with other team members.
Can you engage Gen Z as consumers?
Generation Z is a growing consumer market for brands big and small around the world.
This generation is incredibly digitally savvy, well-researched in their decision-making process, and increasingly social as they share their favourite content, products, and deals with their friends in person and online.
For any business looking to engage with Gen Z as future consumers, there are trends you need to consider as you plan your marketing:
Research-based decision making: The average Generation Z will have 6-8 tabs open when making a purchasing decision.
More than ever, companies need to conduct competitor analysis and ensure they demonstrate their unique value proposition to customers throughout the sales funnel.
Conscious consuming: Young people want to shop with, and work for, brands that they are proud to be associated with.
As mentioned, young professionals willing to take up to a 30 per cent pay cut to work for a company or a cause they believe in should ensure their organisation is actively making a difference in the community.
The Anti-Brand: Engage first, sell second. Young people are becoming desensitised to corporate polish and are instead gravitating to brands that are more authentic and less pushy in their sales approach.
They are looking for authentic brands that educate, entertain, or inspire them first, then leave the door open to a purchase if the customer is interested. Try shedding the corporate polish.
Digital by design: It goes without saying that young people today are digital natives. They use their digital tools almost constantly to connect, collaborate, communicate, and most importantly, shop.
Make sure your business has a strong digital presence with engaging content and multiple opportunities for consumer engagement.
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