Things are changing fast for you. A new generation is entering the workforce; another is entering leadership. The 40-hour workweek is all but kaput, and flexibility is becoming ever important.
Do you know the wants and needs of your present and future talent? Be honest. Because according to the U.S. Bureau of Labor Statistics, the unemployment rate has been on the decline for the past five years. What does that mean for you? It means you’re no longer in the driver's seat, my dear employer. It’s time to get hungry. Read on for recruitment strategies to win the war for talent in a strong job market.
Introducing Generation Z
Are you ready for the post-millennial generation? Because they’re coming to a workplace near you. Born between 1995 and onwards, they bear little resemblance to the last generation to enter the workforce. Here are three of their key traits, as outlined from a global workplace study by Millennial Branding:
An entrepreneurial spirit
Not necessarily motivated by money
Prefer face-to-face communication, despite growing up with technology
Having learned their lesson from millennials, who came of age during a financial crisis, Generation Z will enter the job market (for better or worse) with a more conservative state of mind. Here’s what that means for you:
They’ll be far more prepared
They’ll be more likely to succeed
They'll be more realistic about money and opportunities
Career growth and advancement will be key
They'll be following the corporate ladder, rather than trying to take it down
In short, Generation Z has big plans, but they’re playing the long game: They will seek jobs that are stable, offer growth, and put them on a path to their dream jobs — preferably sooner rather than later. Attracting and retaining Generation Z will be like trying to hit a moving target, but as you can see, their unique ethic and mindset will make them worth pursuing.
Millennials in the Workplace Are Entering Management
As confirmed by the Washington Post in 2014, approximately 10,000 baby boomers are retiring every day. Do you know who is stepping up to replace the outgoing generation of management? Millennials.
And in filling that leadership vacuum, millennials have brought along their own set of values from the time they first entered the workforce. Having lived through the doom and gloom of the Great Recession and seen their careers stall, they’ve done away with the ways of old and are interested in managing with a people-first approach.
If you want these dynamic leaders of the future, you’ll need to say goodbye management styles that require:
Complete command and utter control
Rigid 9-to-5 working hours
One person having the final say
An annual performance review
Doing things because that’s just how you’ve always done it
And be open to leaders who will:
Lead with collaboration and input
Provide flexible hours for employees who need to attend to life outside of work
Measure productivity with key performance indicators while providing regular feedback
Trust their teams to get their jobs done
Improve processes, not defend them
Flexibility Is a Key Benefit
The 40-hour workweek is dead and probably has been for some time. Life doesn’t stop between the hours of 9 to 5. With encroaching work hours, an inability to disconnect from our jobs, and our work-life balance having turned into more of a work-life blend, flexibility is a topic that isn’t going away anytime soon.
And is a topic that needs to be discussed, especially when it’s possible you and your talent don’t see eye to eye on just how important it is. It is becoming a top-three benefit for employees — on par with paid time off. Not to mention an inflexible work environment is becoming an increasingly common deal breaker for a job seeker.
If you would like to avoid burnout, keep high retention rates, and see benefits yourself, embrace telecommuting, alternative scheduling, and letting people work at their own pace — as long as you can trust them to get the job done.