This week the Chamber was proud to support the first seminar in the Greater Whitsunday Regional Jobs Committee Greater Businesses series – The Generation Z Advantage: Boosting Business with Young Talent.
The guest speaker was Sophie Renton, social researcher and Manager Director of McCrindle Research.
As businesses navigate rapid technological advancements and evolving societal norms, the influence of Generation Z (born 1995-2009) becomes increasingly significant. This generation, characterised as digital natives, global awareness, and a commitment to social impact, brings valuable skills and fresh perspectives.
Key highlights from Sophie’s excellent presentation are outlined below.
Today’s Intergenerational Workforce
According to McCrindle’s research, today’s workforce comprises of 12% Baby Boomers, 27% Generation X, 34% Generation Y and 27% Generation Z. In ten years’, this will shift to 19% Generation X, 32% Generation Y, 34% Generation Z and 15% Generation Alpha.
Businesses are now considering ways to engage and bring out the best in everyone, particularly in intergenerational teams where there are often differences in communication styles, perceptions of work ethic, approaches to conflict resolution, technical proficiency, and employment flexibility.
Sophie’s advice is for all generations to Seek first to understand each other’s broad strengths and preferences.
Understanding Gen Z
Sophie’s keynote highlighted what is known about Gen Z (born 1995-2009):
- Likely to have 18 jobs and six careers in their lifetime.
- Digitally and socially engaged, with technology fully integrated into their lives.
- Social media is their search engine of choice.
- Delaying traditional life markers such as moving out of the family home, marriage, and having children.
Attracting and Retaining Gen Z
“Around 79% of Gen Z’s want to be self-employed or have a side hustle to their job. This means businesses need to consider paying a premium for their undivided attention,” said Sophie.
To gain the undivided attention of Gen Z as employees, Sophie presented the following insights:
- Gen Z are attracted to business and roles that have a compelling purpose and meaning. Businesses are encouraged to tell their story, the why of their business, through their website, social media, and workplace culture.
- Lifestyle attractors, such as flexible rosters and various locations, are important, as is showcasing development pathways – how individuals can grow and progress in your company.
- Gen Z respond best to leaders who collaborate with them, to mentor not micro-manage. Equally important is leading a culture of respect where managers are approachable, provide clear communication, and posses genuine integrity, empathy, and accountability.
The Regional Jobs Committee is coordinated by Greater Whitsunday Alliance (GW3).
Announcing the winners of the 2024 Whitsunday Business Awards