Before we start talking about the generations, we should clarify, because there is a lot of confusion over what constitutes a Millennial (or Gen Y-ers) and someone in Generation Z (or a Zoomer as they are known). A Millennial must have been born between the years of 1980 and 1995. Generation Z were born between 1996 and the early 2010s.
The two generations are similar in a few ways in terms of how they view their jobs, sharing an expectation of technological use, a desire for instant gratification, expecting continuing communication and feedback, a need for the company they work for to be doing good in the world and that they themselves are making a real difference within the company.
They differ because Millennials value flexibility, work-life balance, encouragement and written communication, whereas Gen Z-ers love job stability, honesty, career prospects and video communication.
Now, we know every person is an individual and you should not pigeonhole everyone, but you must ask yourself if you are considering the values of the generation of your candidates when interviewing and making offers.
We bring this up mainly because, as the tables have turned and it is currently an employees market, efforts should be made within your organisation to demonstrate the reasons a prospect should choose you over the other offers they are receiving.
Before you start offering incentives, ask yourself if that is what the candidate wants. Some people will reject a big money offer in exchange for a promise of job stability or guaranteed career progression. Does that seem strange to you? When you offered more and more money to that desired candidate, only to be turned down in favour of a lower offer, did you wonder why? Or did you just shake your head and move on?
When you interviewed, did you really sell your firm? As we keep explaining, the interview, whether it is video or face-to-face, is a selling exercise. Obviously, it is harder to sell yourself well via video interview, but regardless, you must show your business in the best light possible. You must allow the values of the company to come across because the candidate will not know much about you, or the job, from your online presence.
So how can you attract them, when money doesn’t work? Millennials want to see the big picture. On the whole, they are passionate about social and environmental responsibility. They are also constantly seeking the next thing so will be interested in promotion possibilities.
With Zoomers, if you can convince them that your company is fair and ethical, inclusive and diverse, you are going some way to convince them that yours is the place they should be. They also want to learn quickly and want to know that their position is not going to be subject to change in the near future.
With around a third of the world’s population falling into the Gen Z category, taking a long hard look at how your business is represented, and what values it possesses that can attract this new generation of workers, will stand you in good stead for your future hires. Yes, money still matters, but it is not the only key factor. When surveyed on whether they would choose a well-paying yet boring job or an interesting job for not great pay, the Gen Z-ers fell 50/50 into each of the columns. Makes you think, doesn’t it?
Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.