A New Generation Is Hitting The Workforce

A New Generation Is Hitting The Workforce

Just when you thought it was hard enough to figure out Millennials, a new generation is entering the workforce, and as a forward thinking business, you have to be ready to hire and manage them. While some businesses are still looking for advice on recruiting Millennials (once known as Generation Y), those with a long-term view are turning to their recruiters to find out how to attract the brightest minds among Generation Z. These are some of the things you should know about them in order to figure out how to fit them into your organizational culture and make the most of their talent.

To begin, Generation Z is the first generation to follow millennials, and while the demographic experts are still working out the details, essentially they were born between 1995 and 2010, so the oldest of them are beginning to graduate. They account for about a quarter of the population and are larger than either the Millennial or Boomer generations, which means that in several years, they are going to be making big waves in the workforce.3

One recruitment firm based in Toronto, IQ Partners, identifies at least one similarity between Generation Z and their older siblings, which is an affinity for values-based organizations. In other words, they want to know that the work they do is going to have a positive impact and make the world a better place. On the other hand, they have more anxieties about job security than those older than them, and unlike Millennials, are more eager to become full-time employees than work independently on contracts or as freelancers.

In Japan, they’re called “Neo-Digital Natives” – while Generation Y grew up alongside the Internet, the earliest members of this cohort would have been entering high school just as smartphones began to explode.

More important to you is how they envision their careers and how you can manage or meet those expectations.

#1 When it comes to making educational and professional decisions, their parents have the largest influence, but they also value input from their friends and teachers.

#2 Two-thirds said they have or would choose their major in university because it’s a subject that arouses their curiosity, whereas compensation and future job prospects were the number one concern of only a third.

#3 They value education and aspire to begin their careers better educated than their predecessors, but they are also concerned about overqualification and student debts.

#4 They value job security and a work-life balance, saying that they aspire to careers that would leave them with time to pursue other interests or raise families.

#5 They are more pessimistic than their older, Millennial siblings and they express greater levels of anxieties about finding a career and how they will perform in the workplace, which may mean that they require more positive-encouragement from management.

Working with Toronto recruiters like IQ Partners is how many GTA firms are learning to work with exciting new talent from Generation Z that’s just beginning to graduate. Recruiters make it their business to learn how people tick, what attracts them to jobs, what motivates them, and how to retain them. If you aren’t already working with recruiters, or you want to change firms, find a company that specializes in your industry; firms like IQ Partners may operate in several verticals such as Finance, Marketing, HR, and tech. Start building a relationship with a recruiter today and improve your talent acquisition and retention strategy.

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