Essential Things to Know About Hiring Gen Z
Attracting the next generation of employees requires strong compensation packages, recognition programs, and performance incentives.
The competitive job market has forced recruiters and human resource departments to reevaluate their employee-benefit packages and reinvent the hiring process.
Gen Z has also entered the workforce during one of the most tumultuous times in recent history; however, before the pandemic disrupted work and hiring environments across the globe, it’s important to remember that Gen Z was one of the first to be fully immersed in technology from a young age.
When developing an approach to hiring Generation Z, it is essential to consider both the technological savvy of this generation and the way the COVID-19 pandemic has created challenges and opportunities during their entry into the workforce.
3 THINGS GEN Z CANDIDATES PREFER IN AN EMPLOYER
- Strong compensation packages
- Recognition programs
- Creative incentives — which may no longer include all traditional benefits
How to get from application to offer fast
Today's hiring process has been improved to better accommodate technologically competent applicants and eliminate archaic steps.
Gen Z is less likely to spend an hour or more filling out a job application or writing a cover letter, and they would rather work for a company that has implemented digital hiring practices. Many companies are transitioning to mobile applications and one-click processes. There is an expectation to receive a response from a company within 24 hours that provides as much information as the prospective employer can.
Don’t Fear the Chatbot
To attract top talent, employers must move quickly and think outside of the box when recruiting potential candidates. This includes providing regular updates and communication throughout the application process.
Automating some processes related to hiring can be crucial to success in hiring. Chatbots which use artificial intelligence can be used to communicate with potential candidates, starting the engagement process and providing relevant information as required. However, it is advisable for employers to plan for a live interaction with a candidate within 48 hours of their application.
Geofencing campaigns, web crawlers, and AI-based tools are all helping to engage passive candidates and target specific groups.
Companies need to interact with candidates at various points between offer and start date, but with departments stretched thin, AI can shepherd the candidate at regular intervals.
Who Needs a 401(k)?
Gen Z is searching for purpose in their work, rather than the traditional benefits package of compensation, growth opportunities, health insurance and retirement plans. In light of a lack of retirement planning, Gallup studies have shown that Gen Z and millennial employees seek out employers who maintain an ethical workplace culture and prioritize employee wellbeing. The most commonly requested benefit among Gen Zers is the ability to work remotely, which is often the first question asked in an interview.
If company policies do not allow for permanent, remote work, employers should anticipate losing the interest of some potential applicants.
With regards to compensation, we are seeing a preference among younger Millennials and Gen Z candidates for higher compensation over benefits packages that include mainstay perks such as gym memberships, discounts and even healthcare in some cases. As these individuals age and establish their own families, they will place greater importance on traditional benefits and financial stability for the future.
The Takeaway
To attract Gen Z employees, companies must offer exciting jobs and opportunities with strong compensation packages, recognition programs and performance incentives.
The workforce is changing and so must the way we recruit new employees - especially those from Generation Z.
