Podcast: How Generation Z Is Changing the Workforce
The US Department of Labor says that Generation Z - those individuals born beginning in the mid-1990s - will make up almost 25% of the US workforce by 2020. In fact, Generation Z is already beginning to make its presence felt in the workplace.
On this podcast, the Chief HR Officer at Randstad North America, Jim Link, discusses the emergence of Generation Z and what employers need to know to interact effectively with these young workers. While Generation Z employees have had digital technology in their hands for most of their lives, Link says, "When it really matters, Gen Z members want to communicate with you face to face rather than texting back and forth."
Employers must communicate accordingly and be aware that Generation Z workers expect constant feedback. "The idea of a once-a-year performance review is a tombstone. Its time has passed," says Link. And the same holds true with rewards. That's why, Link notes, the idea of waiting around a year-and-a-half or more for a promotion won't sit well with these individuals. As a solution, he suggests providing spot bonuses after the completion of key tasks and foregoing the merit-based pay increase.
A survey that Randstad conducted of Generation Z and Millennials revealed that in addition to the desire for communication and rewards, the biggest concerns among these workers include:
- Student debt;
- Work/life balance;
- Career advancement; and
- Stress.
They would also like their employers to do a better job of incorporating technology into the workplace. Link discusses these findings and much more on the podcast.
Additional Resources
Managing a Multigenerational Workforce - Supervisor Training
How to Foster Employee Motivation
