The workforce is a revolving door, and people are always coming in and going out.
You could say it’s a generational thing.
When a generation reaches the age where they’re ready to exit the workforce, these gaps need to be filled by the next one.
But the recruitment industry has been seeing larger than normal numbers of people leaving the workforce recently. And it’s predominantly from one age group.
The Baby Boomers. And although this naturally happens, there is a considerably larger number of them leaving their jobs now. What is likely the result of covid and people realising the privilege of being able to travel and spend time with family, Baby Boomers are bringing their retirement plans forward. And the mentality of “why not do it while you can” has spread as quickly as Delta did.
So, although Millennials now make up the largest percentage of the workforce, Gen Zs are now entering the chat. And with this generation being born between 1997-2012, there’s a whole lot more of them to come.
To help paint the picture, a portion of gen z’s haven’t started high school yet. However, although parts of this generation are not of working age yet, they have already started to cause a ripple in the workforce.
Gen Zs are entering the workforce. And?
Well, there’s no denying that Gen Z’s have a different way of communicating. But what they also have are different values and motivators, particularly in a job, in comparison to what the exiting generation has.
We’re seeing more emphasis on online networking (ie. A greater LinkedIn presence) and Gen Z’s already have built a reputation for being go-getters. But who can blame them? This generations = careers are being raised in a time where feeling valued and positively challenged in the workplace is normal and encouraged.
So, this means they know no different. Gen Zs are entering the workforce with high expectations for workplace flexibility, employer branding, and support for their career development. All they will know is a high level of stimulation and appreciation in a role, and if they don’t have it, they know they can find it elsewhere (thanks LinkedIn).
What does this mean for companies and the recruitment industry?
Lots.
As the revolving door that it is, there are always ways in and out of the workforce. But it isn’t just people that travel through, there are also trends. And ones that influence who enters and when.
As the industry sees more Gen Zs enter the workforce there are many things companies should do to attract this generation. After all, the workforce is going to have to employ them at some point.
As an employer, the main thing you can do to retain this generation is to adapt your Employer Value Proposition and employer brand to align more with Gen Z’s values. With this generation being fully immersed in social media, your employer branding is particularly important and is likely something they have a focus on.
The recruitment industry and processes also need to adjust. The attraction and sourcing methods can use a shakeup and traditional recruitment practices are heading toward becoming redundant.
Now, Eight has the knowledge to support this shift in the workforce. And our creative brand is one to stand out to the Gen Z's in particular.
So, if you’re interested about this, Nadene can give you more of the inside scoop on it all. Call her on 0432 124 418 or send an email to nadene@eightrecruitment.com.au to see if Eight can help you with recruiting this new generation.