What Generation Z Wants in an Employer

Move over, millennials — the next generation is entering the workforce

1/25/2017 10:45:00 AM
What Generation Z Wants in an Employer
These days, most businesses are focused on marketing their products to millennials, who have a great deal of spending power. But if you run a business and are in the market for fresh new employees, you may want to focus on selling your product to the next generational group preparing to enter the workforce — Generation Z. You may find that their outlook is slightly different than what you are used to with Generation Y.
Monster, a global leader in linking job seekers and careers, recently disclosed results from its first-ever multigenerational survey, which was completed earlier this year. By comparing results from the baby boomers and generations X, Y and Z, Monster was able to highlight what makes the youngest generation, whose members are set to soon graduate from college, unique in what it looks for in a prospective employer:
Room for advancement. Monster found that in this segment, entrepreneurship is a major priority. Members of this generation are willing to do whatever it takes to reach their goals, because they see themselves as driving their own professional advancement. This does not mean, as Business Insider notes, that Generation Z all wish to start their own businesses; rather, it means that they aspire to see meaning in their work and positive results stemming from it.
Altruism. Generation Z cares about more than just making money; it wants to change the world and leave it a better place for the generation to follow. Members of this group are attracted to careers that serve both purpose and pragmatism, with 74 percent of the Gen Z respondents in the Monster survey believing jobs should have a greater impact in the scheme of things.
Honesty and respect. The majority of members of Generation Z also believe that honesty is the most important quality in a good leader. Therefore, they want open and forthcoming bosses who are not condescending to their age or title but who will instead support their ideas and respect their contributions. That respect then comes full circle with honesty and ethics. For example, another 2016 study — this one from EY (formerly Ernst & Young) — revealed that 71 percent of respondents think respect is the most important factor in building trust with potential employers.
Fair salary. The Monster survey found that the top three “must-haves” in a job for Generation Z are health insurance (70 percent), a competitive salary (63 percent) and a boss who they respect (61 percent). Furthermore, the study reported that members of Generation Z are willing to work hard to earn the salary they believe they deserve, as 67 percent are willing to relocate and 58 percent will work nights and weekends if it means a better paycheck.
With technology and social media dominant forces in contemporary society, it is important for businesses that want to recruit the best employees to build strong reputations that prove they can provide what the next generation wants. If successful, they will find themselves with a motivated, philanthropic and ethical workforce that is likely to stick with them for longer periods of time.

Published by North Shore Bank. Includes copyrighted material of IMakeNews, Inc. and its suppliers.

Related Blog Posts

Jobs to Keep You Active During Retirement

These jobs will help you stay active, engaged, and earning money as a retiree. Full story...

North Shore Bank's In Your Interest Podcast - 9 Essential Tips to Prepare Your House for Sale

Episode 10 Full story...

Making a Down Payment on a House

A lot goes into buying a home, but one of the biggest hurdles for many is saving enough for a down payment. Full story...