Workplaces and the economy are changing rapidly thanks to the rise of Generation Z. According to recent surveys conducted by Deloitte, Gen Z now makes up nearly ¼ of the U.S. population. With their expected contribution of $44 billion to the national economy, Gen Z will have an even greater say in workplace practices and brand-building. HR professionals and companies are going to have to make some crucial shifts to their structures if they want to attract and retain top talent from this new generation of workers. So here we’re going to highlight some Gen Z hiring trends to look out for: Who is “Gen Z”? Before we talk about hiring trends, let’s define who they are first. The demographic of Generation Z, called “Gen Zers”, are those born between the years 1992-2012. What’s more: they are set to become the most diverse generation in the history of the United States by 2024.Having grown up with technology and no knowledge of the pre-Internet world, many stereotypes have been constructed around this generation for their reliance on technology.And if anything is true about this generation – it’s that they reject stereotypes the most. So playing on these tropes isn’t going to get you very far if you want to connect with them. Not to mention, as stereotypes often are, many are untrue on a mass scale. For example, older generations pin Gen Zers as fully dependent and over-consumed by tech – even more so than Millennials. And while exposure and reliance on tech have increased, most Gen Zers actually value human connection more than one might think. In fact, one study discovered that 90% of Gen Zers say they value human connection when it comes to their workplace. So they’re not as different as you might think. Gen Z and the Shifting Job MarketWith Gen Z becoming bigger than the millennial generation, the shifts in the job market are becoming pronounced. From 2000 to 2018 the workforce has lessened by 4% – and not many companies are ready for the changes that are on the horizon. Gen Z will be replacing millennials and older workers in the workforce bringing an entirely new worldview and HR needs to be prepared to attract the. At the current rate, 10,000 baby boomers retire every day – and that impact is huge. In fact, from 2017 to 2027 there will be a shortage of over 8.2 million workers in the U.S. – which is the most drastic deficit percentage-wise in 50 years. So what are the current Gen Z hiring trends and changes that will help you build better rapport with this growing pool of talent? 4 Gen Z Trends to Focus On 1) They value freedom and flexibility Many Gen Zers are turning to freelance work more than any other generation. But most of all, they highly value workplaces that offer a flexible work-life balance, hours, perks, and employee benefits. This is particularly important when it comes to extra added perks like maternity/parental leave, good salary, and financial support. Gen Z hiring trends are showing that Gen Z prefers independence at work – but not to be mistaken for isolation. While this group values the social connections of a work opportunity, they also want to have the opportunity to work more independently. They prefer this style of working excessively on group projects. That’s why many companies are opting for remote work or hybrid opportunities. 2) They are entering organizations at all levelsGone are the days when newcomers into the business start at the very bottom doing manual, basic tasks. While automation has taken plenty of entry-level tasks, Gen Z hiring trends are leaning towards bringing this generation into higher roles right out of the gate. This means employees aren’t being promoted and engaged in the same way. They are less incentivized to stay and work their way up like the millennials. Because of this, employers are going to be forced to think of a new way to keep employee satisfaction for Gen Z high and keep them interested.3) They have a big focus on financial wellbeingGen Z has had an increased focus on financial wellbeing (even more so than Millennials!). Growing up during the depression, the wealth gap, watching family members struggle and seeing the rising cost of basic needs has induced an added level of financial stress amongst this generation. As a result, while money is still the most important factor when choosing an employment opportunity – but it is valued less than any prior generation. In fact, while it’s still extremely important, Gen Z hiring trends are showing that there was a split sense of priority when choosing either a work opportunity that paid more or less interesting, versus an opportunity that was more interesting but offered a slightly lower salary. This is where personalization and getting to understand each individual is going to be highly important in employing and retaining Gen Zers. 4) They want to connect with the values of their workplaceGen Zers are far more attracted to working in industries they interact with or are passionate about, rather than ones that are foreign to them. But most importantly: they need their employer's values to align with their own. Some of the main things that Gen Zers look for the most when picking an employer is whether or not they: Offer growth and entrepreneurial opportunitiesValue DE&I and hire a diverse team Offer a stable incomeIf your company does these things, you are far more likely to have loyal and more trusting employees over a longer period of time. Gen Zers also don’t just look at the product when choosing a place to work. They want to know the impact, ethics and practices behind building such a product – and they want to see it benefit society in a sustainable and unifying way. In fact, social activism is most important to this generation compared to the others – with 77% of Gen Z employees agreeing it was an important influencer when choosing to work with an employer. So what does this mean when it comes to building employee satisfaction for Gen Z and making sure that you’re attracting the best pool of talent to your organization? We have a full post on it here.