Beyond Recruitment: 5 Approach to Master the Art of Gen-Z and Millennial Retention
HR teams, on the frontline of workplace changes, face a burnout crisis. Executive Networks' 2023 Report reveals 41% of HR professionals contemplate leaving in the next year. To support HR, leaders must prioritize enhanced training, coaching access, and acknowledge their pivotal role in organizational success.
- Champion Diversity, Equity, and Inclusion
Demonstrating a sincere commitment to diversity and inclusion is paramount, as 82% of Gen Z candidates consider it a pivotal factor when selecting an employer. Beyond being a moral imperative, fostering diverse teams sparks innovation and ensures alignment with the diverse customer base. Notably, a McKinsey study unveiled that companies boasting the most ethnically diverse executive teams were 33% more likely to surpass their industry counterparts.
- Provide Flexible Work Arrangements
Embracing flexibility is paramount for attracting and retaining Gen Z talent. A January 2022 LinkedIn survey revealed that 72% of Gen Z is most inclined to leave or consider leaving a job due to an inadequate flexible work policy, surpassing other generations (69% of millennials, 53% of Gen X, and 59% of boomers).
- Foster Growth Through Mentorship
Elevate satisfaction and retention through effective onboarding, proven to boost retention by up to 82% and productivity by over 70%. With 71% of potentially departing millennials dissatisfied with leadership skill development (Deloitte), prioritize career growth—40% of Gen Z is willing to trade 5% of their salary for it (LinkedIn). Embrace career progression and learning, leveraging mentorship programs as a vital tool for engagement and growth in a digital-first workflow.
- Highlight Impact and Purpose
With 80% of Gen Z valuing alignment with values, they seek more than a job—they seek purpose. Take Patagonia, for instance, known for its core commitment to environmental activism. Authenticity in your organization’s purpose-driven mission is a powerful draw for young talent, emphasizing shared values and meaningful impact.
- Use technology
Gen Z and millennials, known for their tech-savvy nature, exhibit a 90% interest in workplaces equipped with sophisticated technology. The significance of up-to-date technology is underscored by the fact that 40% of millennials would consider leaving a company lacking modern tech. Embrace the future of work by integrating automation, machine learning, and artificial intelligence to create a contemporary and efficient work environment, meeting the evolving expectations of the tech-driven talent entering the workforce.