Watch: A conversation on the Gen Z workforce
On Thursday, February 24th, Axios business reporter Erica Pandey looked at how Gen Z employees are reshaping workplace expectations and how companies are innovating to attract and retain young talent, featuring LinkedIn chief economist Karin Kimbrough and Chipotle chief diversity, inclusion & people officer Marissa Andrada.
Karin Kimbrough highlighted trends in what younger workers are looking for in a job, how Gen Z’s career desires differ from those of older generations, and what employers should pay attention to when recruiting and retaining Gen Z employees.
- On career mobility in the Gen Z workforce: “They’re more mobile physically than other generations in terms of moving cross-country for a job. They’re more mobile just in terms of role and willing to switch industries or careers. 75% of them say that they’re open to switching industries or job functions on a dime.”
- On what employers should focus on in retaining Gen Z employees: “I would say number one is if we know, as I said, that Gen Z is looking for investment in their career, trying to create this career path, and of course, compensation, then employers need to think about how do they create viable career paths, mentorship, connection that will keep Gen Zs in place, because they are likely to move around.”
Marissa Andrada illustrated how Chipotle has navigated the Great Resignation, how a company can connect with young workers who joined the workforce amidst the pandemic, and adapting recruiting strategies to appeal to a generation that spends a lot of time online.
- On Gen Z’s connection to company values and purpose: “I think the good news about Gen Z workforce or this new workforce that’s coming into the organizations today is that a lot of them really resonate as consumers with brands that have a purpose that aligns to their values.”
- On meeting young job applicants where they’re at: “Another way that we tried, which was just a trial, and it’s something fun just meeting people where they’re at, is we actually did TikTok resumes last year…to try that modality for our Gen Zers to submit their application via TikTok. So we’re absolutely trying to meet them where they’re at.”
In the View from the Top segment, SAP Concur Thought Leader of Travel & Expense Technology Solutions Ralph Colunga emphasized how trends shaping the Gen Z workforce will impact the future of the workplace.
- “To stay competitive, companies must also look beyond the latest technology innovation to understand expectations from the workforce and talent pool and adjust policies to address their most pressing needs, i.e. workplace flexibility, company culture, corporate responsibility and transparency, trust, and embracing employee empowerment versus draconian policies and processes is extremely important.”
Thank you SAP Concur for sponsoring this event.