Gen Z is here and they are large!
* 2017 was the first college graduating class
* They will be the college talent for the next 15 years
* Largest generation ever – by 2025, Gen Z will make up 29% of the population
A new generation has arrived. Generation Z is here and they are here to stay. Not only are they here, but they are the largest generation ever. And they are different from previous generations. For example, the most important attribute to gaining their trust is how inclusive you are as a company. Companies that make this a priority will win the future.
Gen Z isn’t in love with the startup craze, either; they want stability. They don’t want to go through the pains that their parents when through during the financial crisis. They also don’t trust what companies have to say, which makes it critical to communicate in a way that aligns with them.
So what can employers do to attract this new Gen Z talent?
Below, you will find statistics to enhance or confirm your understanding about Gen Z, as well as action steps you can take starting today.
Gen Z Has Arrived
Gen Z is here and they are large!
- 2017 was the first college graduating class
- They will be the college talent for the next 15 years
- Largest generation ever – by 2025, Gen Z will make up 29% of the population
Gen Z grew up differently than millennials, which leads to some stark differences in the way they view the world. They saw what the Great Recession did to their parents, have been bombarded by technology and ads since they were young, and grew up in an equality-minded world with President Obama. It’s what has shaped Gen Z to make stability their top factor in choosing a job, a mistrust of corporations as part of their DNA, and equality a non-negotiable.
Stability
- Top career aspiration is financial stability; 31% prefer stability, more than a dream job (28%)
- 80% prefer to work at a midsize or large company; 37% increase compared to millennials
- Reason: they grew up in the Great Recession
Mistrust
- Only 6% trust that corporations will do the right thing compared to 60% of adults
- 22% trust what employers share online
- Reason: bombarded with ads since a young age; technology and information overload makes it so young people are naturally skeptical of brands
Equality
- The #1 factor in trusting an employer
- Reason: they grew up with President Obama; inclusion is a way of life
Increased Importance of Diversity
Stats prove that being diverse and inclusive will expand profits, increase effort amongst team members, and improve retention. But it also improves your odds of landing the best Gen Z talent. Being diverse and inclusive is the responsible business decision of the future.
First non-white majority in US history
- 72% believe racial equality to be the most important issue today
- 60% will support a brand if they stand for equal rights, sexual orientation, and race
- As previously mentioned, equality is their #1 factor in trusting an employer
How to Improve Diversity
According to the Harvard Business Review, targeted college recruiting increases women and people of color in management positions by up to 10% within 5 years
- Diversity is a competitive advantage
- Gender diverse companies financially outperform by 15%
- Ethnically diverse companies outperform by 35%
- A diverse and inclusive workplace improves individual effort by 12% and intent to stay by 20%
Simple, actionable steps
Gen Z doesn’t care how much you know, or how interesting your company is, until they know how much you care. You can become their employer of choice by aligning with what matters to them, investing your time and resources into providing that, and most importantly, showing you care by taking the time to respond. Here are four simple tips for engaging with Gen Z talent:
Take time responding
This seems basic, but it’s a critical area of improvement that Gen Z seeks. It’s important that companies designate a human to answer any questions, especially for your high-priority talent (STEM, diversity, etc.)
Provide a scholarship for underrepresented students ($1,000)
Low cost commitment, great way to show students that you care, and attract students to your brand; plus, students LOVE it
Host a webinar (or conference, if resources allow)
The diverse STEM talent pool is already small, which increases the importance of getting outside of your target schools; webinars make this easy – set up a camera in a nice part of your office, use a webinar service or YouTube/Facebook Live and spend 45 minutes sharing what it’s like to work at your company and do a Q&A
Engage with clubs
- #1 source of motivated, diverse talent on college campuses
- When emailing clubs, be concise, and show the students that you care
- Sponsor clubs; they are underfunded and need money for food and travel
- To streamline the process, use an online community like Door of Clubs
- Gen Z trusts online communities more than any other avenue on the internet, including social media
- Share opportunities across thousands of clubs at once
- Target specific students by using filters
- Track results with analytics
To learn more about Door of Clubs visit their website at https://www.doorofclubs.com/
