Gen Z: The Data

The oldest Gen Zer is 27 this year, while the youngest is just 12. Over the next decade, we’ll see this generation land squarely in the employment sector.

What can we expect?

According to research by Samsung, about 50% of Gen Zs polled admitted to wanting to own a business at some point. While business ownership is a big part of most people’s American dreams, what makes this generation different than previous generations is that they come out of school with the idea that “now” is better than later. Where other generations would’ve seen business ownership as the eventual goal after some sort of formal or informal apprenticeship to learn the ropes of the industry, Gen Z believes they can piece together all that they need to know about starting a business from YouTube.

After watching mass layoffs over the past two years (or being a part of them), coupled with the insights that often loyal employees make less than new hires, Gen Z has “learned to follow the money,” according to Business Insider. The paper reports that the single most important deciding factor in Gen Zers taking a job is money. 64% of Gen Zs polled say salary is the top selection criteria for offers, up from 45% who said the same in 2021.

That’s a significant increase in the importance of money.

Additionally, more than half of graduating seniors expected to be promoted within their first year on the job. Career pathing will become increasingly important to a generation that seems focused on money and advancement.  (Maybe you can’t offer a true promotion but what could they be doing in a year that they might view as a promotion?)

Business Insider also reports that Gen Z is unhappier at work than any other generation. “Only 44% of workers under 30 told Pew Research in May that they were very satisfied with their job, compared with 67% of workers 65 and older.” And it’s not just an angsty young person’s attitude that’s impacting their views on work life. Compared to previous generations (when they were in their twenties) Gen Z is still less satisfied with their jobs.

In the past, we’ve seen work culture experts swoop in and introduce things like game rooms, food, and experiences to improve employee engagement. But Gen Z doesn’t seem to be disillusioned thinking that all that glitters is gold. They appear to carry some cynicism into the workplace. Gen Zers want to know what you’ll be doing for their bank accounts as many of them have student loan debt. In fact, A Bain & Co. study found “…workers in the 18-to-25 age bracket said they prioritized good compensation, followed by learning and growth.”

If you want to attract Gen Z employees, you want to focus on rock-solid ideas, not nebulous concepts. Unlike the idealist Gen Ys, or perhaps because of coming of age in uncertain economic times and a global pandemic, Gen Z wants to talk about salary and future earning potential. That’s a challenge for many businesses. But if you’re prepared, you can be ready to shape the conversation.

In Gen Z recruitment, you need to keep in mind what they’re looking for:

• a salary that can help them pay off student loans and they experiences they love
• a stable job that won’t be laying-off next week
• learning opportunities
• job growth and promotion

Don’t wait for them to bring these things up in an interview. Talk about how your organization can meet those needs. For instance, if not in raw compensation, how? What are they able to learn with you? How might the position help them be more successful in the future (exposure to a rich network of top executives?)?

Gen Z Recruitment

To recruit the entrepreneurial Gen Z, you need to help them gain the knowledge they desire–usually in video form that they can watch on their own time. Yes, some may value building a network for the doors it may open, but those with entrepreneurial dreams also envision being in control of their schedule and working when they want to.

In addition to their business, they’re looking for ways to promote on social media and teach people how they became a success. Business success is a spectator sport to them. For instance, consider a Gen Z having success buying clothing (high-end brands) at thrift stores and sell it on eBay. 

Now that they have experienced solid financial success, they are focused on teaching others how to do this as part of growing their brand. At some point, they will monetize this knowledge and create a source of income that doesn’t require trading time for money. This may be webinars, courses, or monetizing their YouTube channel, etc. This “path to wealth” is as well-known by their peers as the advice of “starting at the bottom, working hard, and climbing the corporate ladder” was for previous generations.

If you want to improve Gen Z recruitment, you must personalize your approach and think specifically about their wants and needs. Don’t expect them to hear (or read) your benefits package and apply it to themselves. They haven’t been taught to derive the answer, just find it. That shift in education theory during Gen Z’s formative years will impact what marketing technique is the most effective in reaching them. Don’t be clever. Be obvious. Spell out benefits as they apply to income.

And know that for every Gen Zer you bring on, your organization will be more appealing to the others.