Daily SumUp

An incredible transformation is unraveling the workplace – from AI to Zoom. The growth of digital technology, combined with the pandemic, has shifted the rules of work. But there’s arguably a more influential change: the rise of a new generation.

Born between 1995 and 2009, Generation Z – or Gen Z – currently accounts for about 2 billion of the world’s population and is expected to represent 27 percent of the workforce by 2025. This could compound the changes to work as we know it, as employers seek to attract and retain new talent.

“Generation Z is already having a positive impact on our workforce and our business,” says Sally Henderson, Group Head of Talent at Zurich Insurance Group. “Gen Z employees are really important to us because, let’s face it, they are the future of our company. But you need to understand and meet their expectations, which differ from other generations. And provide purposeful employee experiences, development and future careers. Do this, and you can attract amazing talent with new skills, innovative ideas and diverse perspectives.”

How does Gen Z differ from older generations?

Gen Z is the first generation to have grown up entirely in the digital age. They have never known the world without the internet; instead, their lives revolve around the latest tech – from smartphones to virtual reality gaming headsets – which play out across a growing mosaic of social media channels. It is this tech savviness – and dependency – that sets them apart from their predecessors: Millennials, Generation X and Baby Boomers.

Despite media attention over the phenomenon of “quiet quitting,” a recent survey by Deloitte finds that nearly half of Gen Zs (49 percent) say their job is central to their sense of identity – although this is lower than for Millennials (62 percent). For Gen Zs, their family and friends are more important, and this probably explains why 42 percent of Gen Zs value work-life balance, remote working and flexible leave as their top priorities when looking for a job.

Valuing values

But what values do Gen Zs look for from prospective employers?

Gen Zs expect companies to show, not just tell, how they support people and the planet. And this needs to be communicated in a way that resonates with them on the channels they follow. Diversity, equity and inclusion are very important, and Gen Zs also want their employer to care about the planet. In fact, 55 percent of Gen Zs research a company’s environmental impact and policies before accepting a job – with 17 percent