Millennials, born between 1981 and 1996, are currently between 28 and 43 years old. Generation Z, born between 1997 and 2012, is aged 12 to 27 years old. These generations seek more than just a job; they look for an experience that adds value both personally and professionally.
A search “Millennial & Gen Z Survey 2023”,According to Deloitte, 62% of Millennials and 49% of Generation Z consider work essential to their identity, and they strive for a work-life balance, which is the main trait they admire in their peers and one of the key factors when choosing a new job.
The adaptation of these two generations in the labor market presents unique challenges for companies, requiring a significant adjustment of organizational practices and cultures. To attract and retain these talents, it is essential to understand their expectations and align these demands with the most valued human skills in the modern job market, declares Antonio Muniz, CEO Advisor 10X and President of Editora Brasport.
6 attractions for millennials and generation Z
Flexible hours and remote work
Flexibility is a crucial aspect for millennials and Generation Z. According to Deloitte's research, 75% of millennials and 70% of Generation Z consider flexible hours and the possibility of remote work to be decisive factors in choosing a job."The COVID-19 pandemic has solidified these expectations, highlighting the importance of a work environment that allows for a better work-life balance," declares the CEO.
Purpose and values aligned
These generations deeply value the purpose and values of the companies they work for. According to Glassdoor, 77% of millennials and 80% of Generation Z consider the company's mission a crucial factor in the application decision.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 programs and skill development stand out as 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 out companies that promote diversity at all levels. Inclusive and diverse work environments are highly valued.
Benefits beyond salary
Additional benefits, such as wellness programs and comprehensive health plans, are attractive to these generations. According to a MetLife report, 74% of millennials consider non-salary benefits a decisive factor for staying with a company.
“Today’s young professionals are not only looking for fair pay, but also for a work-life balance that promotes their overall well-being. Offering benefits such as flexible hours and structured mental health programs, diversity, inclusion and personal development opportunities is crucial to attracting and retaining this generation’s talent,” says Renato Herrmann, CEO and founder of Bold Minds and a specialist in Leadership Development.
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 updates with the latest technological trends are important differentiators 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: identify and solve non-trivial problems in a constantly changing environment.
- Critical thinking: evaluating information objectively and analytically, making informed decisions.
- Criatividade: gerar ideias e soluções inovadoras para se adaptar às mudanças do mercado.
- 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.
- Tdecision making and data analysis: analyze data and make decisions based on these analyses.
- Service orientation:meet customer needs with effective solutions.
- Negotiation:negotiate effectively to reach mutually beneficial agreements.
- Cognitive flexibility:adapt to new information and approaches according to different contexts.
For Antonio, adapting the job market to attract Millennials and Generation Z requires a multifaceted 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.” he concludes.
