Why It Matters What the Millennial and Gen Z Talent Pool Think Of Your Brand

With Gen Zs about to join millennials in the workforce in their multitudes, it's imperative that you get on board with their way of thinking. Why, you ask? It’s pretty simple when you think of the staggering numbers involved.Research shows that by 2025, approximately 75% of the workforce will consist of millennials. That’s excluding Gen Z, who will soon overtake millennials to be the most populous generation on earth

And it's not just the quantity of millennials and Gen Zs that will be in the workforce, it's about how much they’re spending too. To give you an idea,Millennials were projected to be the highest-spending generation in 2020, at an estimated $1.4 trillion!

And so, as the baby boomer generation and Generation X begin to retire, you may want to be looking more closely at who’s replacing them in the workforce.Here’s what millennials and Gen Zs are looking for in a potential workplace:

A culture fit

Workplace culture is significant, but even more so to the average millennial, who rate its importance as 8.5 out of 10. Your company’s values and behaviors are paramount to whether a millennial will choose to work for you or not.

Employers who care about their wellbeing

Probably catapulted even more by the Covid-19 crisis in 2020 and 2021, today’s workforce wants to know that their future employers care about both their health.And not just physical health, mental health too.

Technology

Millennials are the generation most influenced by social media. In fact, 75% of their purchase decisions are directly influenced by social media marketing.Millennials are also the generation most likely to make online purchases.

Accustomed to using technology in their everyday lives, these generations expect it to be in their workplaces too. And so, if your marketing strategy is still the same as when you were targeting your marketing to the baby boomers or Generation Xers, you need to rethink it – urgently. Millennials and Gen Zs will be the deciding factor of how businesses function in the future.

Millennials and Generation Zs spend far shorter periods at one job than previous generations. And, if you want to keep the costs of turnover and onboarding down, it’s imperative that you’re giving them what they want in the first place. If your company isn’t willing to adapt to the needs of millennials and Gen Z’s, it’s likely to find itself in a bit of trouble

“We need to remember across generations that there is as much to learn as there is to teach.” – Gloria Steinem