Generation Z
What is the gap and How can Employers work better with them?

Who is Gen Z?

Gen Z, also known as the Post-Millennial generation, refers to the demographic cohort that comes after the Millennial generation. While there are no universally agreed-upon dates, Gen Z is typically considered to encompass individuals born from the mid-1990s to the early 2010s. Here are some key characteristics of Gen Z:

1. Digital Natives:
Gen Z grew up in a world where digital technology, smartphones, and the internet were already prevalent. They are highly comfortable with digital tools and online communication. Gen Z is known for its social media proficiency and digital communication skills. Platforms like Instagram, Snapchat, and TikTok are popular among this generation.

2. Diverse and Inclusive:
Gen Z is known for its commitment to diversity and inclusion. They tend to be more accepting of different races, ethnicities, genders, and sexual orientations, and they advocate for social justice and equality.

3. Entrepreneurial:
Many Gen Z individuals have an entrepreneurial spirit. They are interested in starting their businesses and side hustles and are more likely to seek self-employment opportunities. They are the trend setters for being influences such as Youtubers.

4. Global Perspective:
Growing up in a highly interconnected world, Gen Z has a more global perspective and is interested in international issues and cultural diversity. Many Gen Z individuals are also environmentally conscious and actively support sustainability efforts and eco-friendly practices.

5. Shorter Attention Span:
Due to the fast-paced nature of digital content and communication, Gen Z tends to have a shorter attention span and prefers bite-sized, visually engaging information. They may struggle with routine and long hours of work that require consistency and focus. It also means that they are often looking for something that is more, better or different that may lead to higher turnover in organisation.

6. Blurred Work-Life Boundaries:
Gen Z often seeks flexibility in work arrangements, with an emphasis on work-life balance. Remote work and freelancing are appealing options.

It’s important to note that while these characteristics are commonly associated with Gen Z, there can be significant individual variation within the generation and the person themselves based on their individual upbringing, education and experiences. The above is to provide information that Gen Z’s values and behaviors are shaped by their unique experiences and the evolving cultural and technological landscape.

What then is the gap ands How Employers work with Gen Z?

1. Skills Mismatch:
According to a survey by Deloitte, 67% of Gen Z respondents felt that their formal education had not prepared them for the workforce. Gen Z individuals sometimes find that the skills they learned in school don’t match what employers need. They may lack practical skills required for specific jobs.

Gen Z can consider taking additional courses, internships, or certifications to bridge the skills gap.
Employers can offer training programs or mentorship to help new employees develop the skills needed for their roles.

2. Work-Life Balance:
Gen Z places a high value on work-life balance and often struggle to adapt to traditional 9am-to-5pm schedules or working on weekend.

Gen Z can communicate their preferences for flexibility and seek jobs that offer work-life balance with their remuneration and productivity delivery that is aligned to them
Employers can offer flexible work arrangements and understand the importance of work-life balance for Gen Z employees with agreed productivity delivery objectives that matches to the remuneration being offered.

3. Mental Health:
Gen Z individuals often report higher levels of mental stress and anxiety. The pandemic has exacerbated this issue. It can also be due to excessive exposure to social media and information on the internet space.

Gen Z can be proactive in seeking support for mental health, including counselling or stress management techniques by looking at expectations from all level and matching it to the reality
Employers can provide mental health resources, encourage work-life balance, and create a supportive work environment. Ongoing coaching and counselling is a required skills for middle level management.

4. Career Development
Gen Z wants clear paths for career growth and development but may feel uncertain about their future at a new job.

Gen Z can discuss career goals with managers and actively seek opportunities for growth.
Employers can offer mentorship, training, and a clear career progression framework.

5. Financial Literacy:
Gen Z may lack financial knowledge and face challenges in managing their finances and dealing with loans and easy access to credits such as credit card, buy not pay later and finance leases.

Gen Z can educate themselves about personal finance and budgeting.
Employers can provide financial wellness programs or resources.

6. Technology Dependence
Gen Z is highly tech-savvy, but this can lead to over-reliance on technology for communication and problem-solving that may not be effective or efficient. Also it can also be a tool of avoidance in managing issues or tough conversations/ decisions.

Gen Z can develop strong interpersonal and problem-solving skills. Learning to take risk and giving self permission to fail and fall as part of learning
Employers can encourage in-person communication and teamwork to balance technology skills. Grounding them, debrief work done and constant coaching to grow them

7. Professional Networking:
Gen Z may struggle with networking and building professional relationships especially when face to face and eye to eye communications

Gen Z can attend industry events, join professional organizations, and utilize social media for networking.
Employers can: Facilitate networking opportunities within the organization and provide guidance on building professional relationships.

In summary, this is about accepting Gen Z and for Gen Z to notice some of their gap with their Employers who are likely to be Gen X and then to work things out together.

How InTune Outsourcing Can Support SME Business Owners?

InTune Outsourcing is one of the Malaysia’s Most Advanced and Top Outsourced Accounting, Finance, HR and Payroll services providers.

We have served more than 400 clients todate and InTune offer full-range services from start up to small to medium-sized companies.

InTune takes away the stress and pains from managing Accounting, Finance, Payroll and HR, including Bookkeeping, Payment Services, Accounts Payable, Accounts Receivable, Payroll and more, by providing an expert team of CPAs and other accounting professionals who understand the special accounting needs of growing businesses.

We can also help in preparing Budgets too as part of our Consultancy Package.