How to maximize the new generation’s potential

We are stepping forward into the new age, with members of Generation Z beginning to seep into the largely Gen Y workplace, and the older generations retiring. The key question now is how to recruit and retain the best talent these generations have to offer. HR should review recruitment strategies, corporate structure and culture:
Recruitment Strategies
In the new age of rapidly changing technology, social media is more important than ever. However, it's not just about increasing your presence – it's also about identifying which demographic you're targeting and the most popular social media for them. Those belonging to Gen Z tend to use Snapchat and Instagram more than Facebook compared to Gen Y, and are less likely to broadcast their opinions and experiences to many people.

More and more job searches are now done online, and therefore making your websites as smooth and streamlined as possible is crucial. Branding is also vital, because members of Gen Z tend not to do business with firms that they have had a bad experience with. Today, it's very much about the customer. An inclusive environment is critical today as well, with new generations more vocal about the diversity problems that exist in society. Being a firm that is open and tolerant will help improve the chances that new employees will want to work there.

Corporate Structure
Gen Y and the iGen prefer an organisational structure where their creativity and innovation are recognised, and a hierarchical structure tends to stifle fresh ideas. A hierarchical structure also may not work, as the new generations have seen the establishment fail, and have no reason to automatically respect authority. But this doesn't mean they won't listen – if they are led by example, they will choose to respect those who are leading.

In a flatter structure, managers work more closely with their employees instead of just supervising them, and this allows new ideas or innovation to develop.

Corporate Culture
Gen Y tends to prefer collaborative group projects that require teamwork to complete. Gen Z on the other hand, is more individualistic, with members preferring to rely on themselves to finish assignments.

Both generations want a chance for personal growth, and are no longer content with just finding a job. Thus, these new employees will value feedback. Many of the iGen have expressed desire to start their own company, or some sort of startup. Allowing this entrepreneurship to bloom can benefit your company, potentially adding a new division to your firm.

For many young people today, a big pay cheque is less of an incentive than a guaranteed pension, or even holiday time. The younger generations want to know that they won't have to work until they drop dead, and that while they are working, they have the chance to enjoy their lives too. With respect to benefits, a work-life balance is imperative in a modern work environment – employees want to know that they aren't just cogs in a machine, but valued people.

A diverse and inclusive environment is also desired. This will not only attract new younger employees, but will also improve team performance by 17% and decision making quality by 20%. Organisations with an inclusive culture are two times as likely to meet or exceed financial targets, three times as likely to be high-performing, six times more likely to be innovative and agile, and eight times as likely to achieve better business outcomes.

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