As the years go by, you can expect to see more and more Generation Z individuals are slowly graduating from University and entering the workplace. Either as employees with full time, part time, or temporary jobs in Singapore
But, before we delve into the differences between Millennials and Gen Z employees, we must first understand what Gen Z is.
Who is Gen Z?
Gen Z (a.k.a. iGeneration), refer to those born between the year 1995 and 2010. In Singapore, the Gen Z cohort is massive, making about 30% of the residents here. This is a generation that values individuality. Additionally, Gen Z’s is a demographic that grew up with digital technology - they’ve grown up with smartphones and high-speed internet.
Many have described Gen Z employees as people that are not concerned about the title of their job. Instead, this is a generation that values meaningful positions that help them discover their purpose.
The Difference Between Millennials and Gen Z Employees
Unlike Millennial employees, Gen Z’s are known to be:
Not University Educated: Unlike their predecessors, Gen Z individuals prefer to not start their life filled with debt. As such, many will skip University, unlike Millennials. Of course, this differs between amongst the individuals.
More Individual: Gen Z’s want to achieve everything by themselves, and prefer working alone, as opposed to a team.
Less Patient: Gen Z wants things right now, and fast! Remember, this is a generation that grew up with a mobile device in their hands and super speed internet. This is the reason for the generation’s needs and expectations to get things fast.
More Unfocused: Gen Z employees tend to be less focused than their millennial counterparts. The average Gen Z individual has an attention span of 8 seconds whilst compared to Millennials, who have an attention span of 12 seconds.
Less Tolerant: Unlike the previous generations, Gen Z employees will #cancel brands or websites if they experience problems with it. The same ideology can apply to the workplace.
With these differences in mind, employees will have to ask themselves the real questions:
Can companies entice Gen Z employees with their current benefits package?
Are the benefits different from the package created for Millennials?
1. Health Insurance and Dental Benefits
Health insurance at work is now considered to be a standard benefit amongst most employees in the workplace. Much like the previous generations before them, Gen Z workers want to be rewarded for their hard work. These range from dental, health insurance, maternity leave to additional holidays.
2. Offer Safe Spaces
Gen Z’s are high achievers. Combining the drive and need for achievement with constant work stress and fatigue is a recipe for mental health disaster. However, unlike earlier generations of workers, Gen Z employees are not afraid to let their supervisors and HR know that they’re mentally unwell. One benefit to entice Gen Z employees is by providing them a safe space to talk about these issues.
3. Include Lifestyle Benefits
The reason that Gen Z individuals love Instagram, Snapchat, YouTube, and Facebook is because they want to share their fabulous lifestyles. Or spy on an influencer’s lifestyle. Employers can use this to appeal to the young generation.
Offer Gen Z’s lifestyle perks to choose from and let these young employees choose what they want to take up. Some ideas to choose from include a gym membership, a spa weekend, or the option to choose what courses to take (i.e. language course, digital marketing course). However, they have to be something that can be done outside of the company.
4. Simple Tokens of Appreciation (e.g. Food.)
Money is a motivational factor, but it is simply not what keeps Gen Z (or millennials for the matter) engaged in the long run.
In fact, small tokens of appreciation can go a long way in motivating Gen Z employees. Since this is a very individualistic generation, something as simple as a rewarding team lunch can make everyone happy and motivated.
As a busy recruitment agency in Singapore with a diverse mix of generations - from Generation X to Millennials, to Gen Z, we found that food is a commonality that bonds everyone.
One foolproof method of showing appreciation here is BGC Group is simple: taking the team out for awesome lunch lunch treats. Don't believe us? Check out our Instagram page for pics of food and more food.
Most recently, the BGC team visited a really cool, newly opened Western Fusion and Bar that's close to our office at Raffles Place. Mpire, located at 77 Amoy Street, the restaurant is only breezy 10 minute stroll from most offices in Singapore’s CBD.
It was surely a treat for our young employees - for some of us, it was our first time lunching at an affordable fine dining (or #atas) restaurant.
It's a really cool spot guaranteed to bond team mates of all generations. As we quote, our young-foodie-cum-marketing Intern, Gabriel Wee -
“Never have I ever craved for a salad this much. I would recommend this restaurant to anyone who wants to have a chill date or a post-office meal together. I definitely don't mind paying to come here with friends! The fresh oysters are to die for.”
5. Personal Space
Unlike their Millennial counterparts, Gen Z employees prefer to work individually at their own time. Previous generations might’ve viewed remote working as something out of the norm. However, Gen Z’s view remote work as the norm, and not a perk. Organizations looking to attract these youths should aim to provide access to remote work, and flexible schedules.
6. Offer Mentoring Options
The good thing about Gen Z employees is their desire to learn and upskill themselves. Despite the generation’s lack of interest in University (mostly due to the amount of student debt incurred). Employers can appeal to the thrifty nature of Gen Z and their desire to learn by offering free upskilling opportunities.
Why You Should Restructure Your Employee Benefits Package for Gen Z
Whilst the workplace isn’t really saturated with Gen Z employees yet. It is important to reconsider changing the employee benefits your organization offers, to keep younger employees happy.
Currently, the oldest Generation Z individual is close to completing their university studies. They are going to be on the hunt for both job and internship opportunities soon. There is no better time than now to find ways to keep this large demographic interested in your organization.
To learn more about the differences between Millennial and Gen Z employees, check out our BGC Huddles episode below!