TO tackle the worrisome job-hopping trend among Gen Z employees and mitigate high recruitment costs, employers need to recognise and adapt to this generation’s workforce needs which include transparently managing expectations on salary/compensation and ensuring employee personal well-being.
Such is the gist from a recent virtual forum on “How to Hire, Engage and Retain Gen Z Talent”, which was jointly organised by the SME Association of Malaysia and Kabel, an interactive on-demand job matching app that connects hirers to thousands of interns and fresh graduates in Malaysia.
As rightly pointed out by the SME Association of Malaysia national secretary-general Chin Chee Seong in the forum’s opening speech, Gen Zs are not solely motivated by money while their expectations in the workplace are value-driven and aligned with their personal well-being.
One of the biggest struggles for employers is managing the expectations of Gen Z about salary and compensation which should be fairly based on the person’s output in addition to benchmarking against the industry, according to PeopleBiz Consulting managing consultant Usha Devi.
Usha also pointed to career progression plans as being vital to show employees how they can grow with the organisation.
For Taylor’s University head of career services Raja Edriana Baizura Raja Ehsan Shah, this generation is concerned about work-life balance and prefers flexible working arrangements.
Meanwhile, MYSJ Sdn Bhd head of strategic communications Azzedine Tarmizi stressed that beyond money, Gen Z looks for intrinsic rewards once experience is gained in their fields and seek purposeful work in an organisation that aligns with their values.
He also emphasised the importance of employers to show care and empathy to employees.
Kabel founder Camelia Loh urged organisations to engage with Gen Z consistently to attract and retain good talent to build a sustainable business.
While industry needs are essential and indispensable, the requirements of Gen Z need to be included in the feedback loop. Employees who are aligned and passionate about their roles will do wonders for retention rates.
A 2021 survey by Employment Hero revealed a staggering 81% of Gen Zs plan on switching positions in a year.
Of those who want to leave their company, 36% cite lack of career growth as the reason for leaving, while 27% said they do not feel appreciated or recognised for what they do.
Other reasons cited by the survey include not being given pay raises, promotions and organisational problems among management, feeling overworked, and lack of flexibility. – July 22, 2022
