How to make the job market more attractive for millennials and Gen Z?

Millennials, born between 1981 and 1996, are now between 28 and 43 years old. Generation Z, born between 1997 and 2012, is in the age group of 12 to 27 years. These generations seek more than just a job; they seek an experience that adds value both personally and professionally. 

A research “Millennial & Gen Z Survey 2023”, from Deloitte, points out that for 62% of Millennials and 49% of Generation Z, work is fundamental to their identity, work-life balance is something they strive for, being the main feature they admire in their peers and one of the main points when choosing a new job. 

“The adaptation of these two generations in the labor market presents unique challenges for companies, requiring a significant adaptation of organizational practices and cultures. To attract and retain these talents, it is essential to understand their expectations and combine these demands with the most valued human skills in the modern labor market”, declares CEO Advisor 10X and President of Brasport Publishing, Antonio Muniz. 

6 Attractions for millennials and Generation Z

Flexibility of working hours and remote work

Flexibility is a crucial aspect for millennials and generation Z. As Deloitte research, millennials' 75% and Gen Z's 70% consider schedule flexibility and the possibility of remote work decisive factors in choosing a job. “A COVID-19 pandemic has consolidated these expectations, highlighting the importance of a work environment that allows a better work-life balance”, declares the CEO. 

Purpose and aligned values

These generations deeply value the purpose and values of the companies where they work. According to Glassdoor 77% of millennials and 80% of Generation Z consider the mission of the company a crucial factor in the decision to apply. For Antonio, organizations with strong social responsibility and sustainability practices are particularly attractive to these groups.

Professional development and growth opportunities

According to Gallup, 87% of millennials see professional development as extremely important. Continuous development is a priority for millennials and Generation Z. Companies that invest in training and skills development programs stand out as the preferred employers.

Culture of inclusion and diversity

PwC showed that 85% of millennials consider diversity and inclusion policies important when evaluating an employer.Generation Z, even more aware of these issues, actively seeks companies that promote diversity at all levels. 

Benefits beyond salary

Additional benefits, such as wellness programs and comprehensive health plans, are appealing to these generations. According to a MetLife report, 74% of millennials consider non-wage benefits a deciding factor in staying in a company.

“Youth professional people today are not only looking for fair pay, but mainly for a work-life balance that promotes their overall well-being. Offering benefits such as flexible schedules and structured mental health programs, diversity, inclusion and personal development opportunities is crucial to attract and retain talent from this GENERATION”, points out Bold Minds CEO and Founder and Leadership Development expert Renato Herrmann

Use of advanced technology

Digital natives, millennials and generation Z expect companies to use advanced technology. According to Dell Technologies, 80% of these young people believe that technology in the workplace is essential for their success. For Renato, the implementation of digital collaboration tools and constant updating with the latest technological trends are important differentials for these generations.

Human skills need to be valued 

The World Economic Forum has been dedicated to understanding the skills needed for the future of the labor market. According to recent reports, some of the key skills that professionals should have are: 

• Complex problem solving: identifying and solving non-trivial problems in an ever-changing environment.
• Critical thinking: evaluate information in an objective and analytical way, making informed decisions.
• Creativity: generate innovative ideas and solutions to adapt to market changes.
• People management: lead and develop teams to promote collaboration and productivity.
• Coordination with others: working effectively as a team, adjusting to the actions of colleagues.
• Emotional intelligence: understand and manage emotions to build relationships and deal with complex situations.
• Tomada of decision and data analysis: analyze data and make decisions based on these analyzes.
• Service orientation: meet customer needs with effective solutions.
• Negotiating: negotiate effectively to reach mutually beneficial agreements.
• Cognitive flexibility: adapt to new information and approaches according to different contexts.

Adapting the workforce to attract millennials and Gen Z requires a multi-faceted approach that combines flexibility, purpose, development opportunities, inclusive environments, comprehensive benefits and cutting-edge technology. 

For Renato, “investing in the development of human skills such as complex problem solving, critical thinking and emotional intelligence is essential. Companies that understand and meet the expectations of these generations can build more motivated and engaged teams, boosting their long-term success.”.