The most digitally connected generation on earth doesn’t know what it’s like not to have a smartphone. A world before the internet seems as archaic to them as black and white silent movies are to the rest of us.
Right now, they’re probably the most compatible people on earth when it comes to embracing the new reality of remote working, the decline of traditional office space and their attendant hierarchies. They instinctively turn away from a nine to five culture, care little for presenteeism and prefer to acquire cutting-edge skills in bite-size chunks.
The generation born between 1994 and 2012 takes instant access to information, products and people for granted. Their smartphones are their permanent companions, but rather than feeling isolated, this generation is highly social. They are inclusive, pragmatic and ethical. Connected to myriad online and physical communities, they’re tech-savvy, truth-seeking and deeply concerned about what the companies they work for stand for.
It’s no overstatement to say that Gen Z represents enormous potential for the future of business. The question is – is yours ready to harness this new wave of employees whose CVs are just beginning to reach your hiring managers?
Challenges and opportunities
At ACCA, we have conducted one of the most in-depth studies to date of the challenges and opportunities presented by Gen Z entering the modern workforce.
In the report, created in association with the International Federation of Accountants (IFAC) and which you can download in full at accaglobal.com, we set out what employers need to know about hiring Gen Z and makingthe most of their unique skills and abilities.
ACCA’s mandate is to promote accountancy and the immeasurable value that professionally qualified ACCA accountants bring to businesses and economies. We’re actively working with Gen Z accountants and spoke to more than 9,000 respondents aged 18-25 for this groundbreaking survey.
In it, we advise them on their unique strengths, such as their tech know-how while advising on career-building skills such as personal brand building, teamwork, and adopting a long view while being flexible enough to take calculated risks.
While this advice forms a core part of our strategy to promote exceptional accountancy talent into the workforce, I believe it is advice that applies to anyone, much in the same way as the insights and data from our survey are widely applicable to all employers.
Key role of the Gen Z
I believe that young people at the start of their professional careers can play a valuable role in finding solutions to the problems facing our post-pandemic world. This generation is worried about the future and their wellbeing, and as such is drawn to organisations with strongly expressed CSR values.
Pressing global issues such as sustainability, the megatrend of our times, are important to Gen Z; the pandemic has changed the face of work, while the role of business itself is also being redefined – companies are now expected to contribute to shaping a better world. This is a seismic shift that heralds a huge opportunity to organisations to position themselves for the future and attract the next generation of talent.
At ACCA, we are convinced that great businesses will continue to adopt sustainable, long-term practices as the work landscape continues to transform.
Many roles will change, some will become obsolete and new ones will also arise.
Accountancy, I believe, will endure because finance is the universal language of business. It’s exciting to see how young people entering the workforce will contribute to its future.
Strategies for employers
How to get the most from your Gen Z workforce
Tap into their digital mastery
Gen Z employees may likely be teaching your IT departments a thing or two – they are adept at identifying solutions and are early adopters of the latest technologies.
Create collaboration opportunities
Gen Z want to be part of the ‘bigger picture’ and progress their careers swiftly. Create opportunities for them to work across functions and generations to foster intergenerational learning opportunities and connections.
Be authentic and listen
This generation values authenticity, from leadership approachability to an inclusive culture that values the opinions of all staff. Gen Z want to play a key role in organisations while benefitting from reverse mentoring.
Focus on wellbeing
It’s critical that organisations have clear strategies and resources in place to help address the concerns of their younger employees who may face particular challenges. Along with this, Gen Z are keen to know that their companies demonstrably care about the wellbeing of staff.
Rethink learning
Gen Z are natural self-curators, using technology to access information and knowledge at speed. They respond well to mobile learning, innovative platforms and virtual reality – peer to peer learning is also a powerful tool that can promote team building.