True entrepreneurs know their strengths and weaknesses before starting a venture. The hiring process is done in such a way that it helps cover up his shortcomings. If an entrepreneur decides to start a tech company but lacks the knowledge of anything tech, he would hire a kickass tech team. It is a fact that intelligent succession planning begins with hiring the right people. However, with the next generation of the workforce being entirely dominated by the millennials and the GenZ, the hiring strategies must also adapt according to their needs. Prepare for a workforce that is dominated by the new generation of leaders.
What steps can you take for recruitment?
When it comes to your business strategy, effective succession planning is vital. This starts with hiring the right people and building a solid team. Businesses must consider ways to attract upcoming talent while retaining high-performing professionals. Millennials are securing more managerial roles nowadays due to the inflow of graduates from newer generations. Ensure that you find the next generation of leaders is already a part of your team because they are already here.
The younger generation indeed favors a workplace with flexibility and freedom. They do not work hard like the generation before them. You might call them lazy, but the newer generation often finds more ingenious ways of doing work. Coming back to the point, as the newer generation likes a flexible work environment, it can also be helpful to incorporate it into your hiring process. Eliminating those redundant steps, such as uploading a resume while entering their details on yet another form, can be removed. As mentioned before, the newer generation values work-life balance more than anything. They value time. You can save a lot of time by connecting with them via text message or chat so you can keep them posted.
If you have noticed, Millennials and Gen Z are very individualistic. They have a unique personality that sets them apart from each other and, obviously, the crowd. Some might find it hard to fit in on a resume and resort to other means, like a video resume. Encouraging this behavior might put your organization in a good light among its network of future leaders.
What does the new generation workforce expect from their employer?
Understanding that the newer generation wants something entirely different from their careers compared to the older generation can help you define a good strategy. With the economy down in the gutters and the competition high as ever, job security and money are still factors that appeal to people. Additional to the stable factors, the newer generation expects factors such as:
Flexibility: The newer generations have a life. They like hanging out with their friends after a lovely day at work. Research suggests that 33% of Gen Z want a flexible work schedule with good holidays and vacation days. Also, they do not tolerate being forced to work when they don’t want to.
Freedom of expression: The new generation knows the importance of having an individual self-expression quotient and avoids labels. This ensures a good and safe work environment. They try to be their best selves, and this is what makes them unique.
Values equality and other social causes: The new generation of leaders value having a purpose. They want to contribute to the greater good of society. People look for employers or corporations that strive to do better for the environment and other social causes. Even at work, they ensure that the domain is safe and has no signs of discrimination. They voice their opinion and stand against injustice in any form.
Tech is a part of their life: Being born amongst smartphones and computers, they beautifully speak the language of tech. They were born and raised with technology, so they have naturally adapted to newer tech. They thrive in a remote work setup as well.
In conclusion, understanding what younger workers tend to look for in their employer can do wonders for your organization. It is crucial to create a space where new leaders can work to their full potential. Aligning your hiring process after understanding who or what the next generation is looking for can give you an edge. As mentioned before, the next generation of leaders has already arrived. Is the question… are they on your team?
Speaking of creating a sound business setup, it is pretty impossible without having an outstanding team. Research shows that execution makes a business successful more than any other aspect. So if you have an innovative idea without the proper performance, it’s meaningless and a learning opportunity at most. However, if you pitch your idea to Project 10K Labs, you become a Co-Founder of your dream company. Why Project 10K? Who would not want to partner with a company with a state-of-the-art tech team and a proven track record? The group consists of newer and innovative leaders who collaborate and find better work methods. If you think it would be fun to work with a team like this and want to partner with Project 10K Labs, pitch your idea here: pitch10k.com/pitch.