In order to increase retention rates among Gen Z and millennials, executives and hiring managers would do well to consider the priorities of these groups, particularly those priorities differing from other age groups in the workforce. For example, recent findings from the Deloitte Global 2022 Gen Z & Millennial Survey demonstrated that the top concerns among these groups were cost of living (29% and 36%, respectively) and climate change (24% and 25%, respectively).
This staggering research presents ample opportunities for hiring managers and executives to analyze retention practices for gaps. For example, according to StaffingHub, nearly half of Gen Zs (46%) say they feel stressed all or most of the time, and 38% of Millennials agree with this statement, a decrease over 2020.
The top stress drivers for both groups include:
- Their long-term financial future (47% of Gen Zs and 43% of Millennials)
- Day-to-day finances (42% of Gen Zs and 39% of Millennials)
- The health/welfare of their family (42% of Gen Zs and 39% of Millennials)
Methods to Increase Retention Rates Among Gen Z & Millennials
- Prioritize climate action. Of any age group, these individuals care the most about furthering efforts to improve the world’s current response to increased global warming and its adverse effects.
- Provide options and resources for employees to receive mental health.
- Implement opportunities and practices for hybrid work. Millennials and Gen Z consistently want to work for companies that meet them where they’re at and allow them flexible work schedules.
Of course, it can be a challenge to address differing priorities among the varying age groups in your organization. But suppose the recent years of managing a global pandemic have taught us anything. In that case, it’s more important than ever for diversity and inclusion efforts to address the concerns and needs of all age groups in the organization.
Take charge of your career today, and align yourself with a company that understands your values. Are you an experienced IT staffing professional looking to jump-start your career in these booming APC markets like Raleigh, Atlanta, Denver, and Charlotte? We’re happy to help you elevate your career to the next step. Visit our job board and let us help you find the correct position for your needs.
Additionally, we have also provided numerous thought-leadership articles focused on the staffing industry, like the State of Tech Hiring 2022, informative articles on generative AI, and other business intelligence tools, among many others.
Kristen Burgess is the Marketing Specialist at Alliance of Professionals & Consultants, Inc. She has five years’ experience in curating content for digital platforms, social media contributions, and supporting marketing campaigns and strategies. Before joining the APC wolfpack, she worked in digital marketing for software as a service, giving her keen insight into the types of professionals APC hires today. In addition, she likes to stay up-to-date on the most relevant trends within the technology industry through thought-provoking podcasts and newsletters while paying attention to industry leaders’ trends. In her spare time, she serves on the Management Team and helps craft communications for the Junior League of Durham and Orange Counties.