The APAC recruitment market is for the most part candidate driven. With digital disruption in the era of industry 4.0, businesses left and right are expanding their digital capabilities, requiring talent and people who can deliver.
Seeing the tight competition for the best candidates and talent in the market, companies are doing more and more to appeal to the youngest joiners to the job market, the Gen Z.
What are the Gen Z about & How Do They Gen Z Differ From Millennials?
Millennials has been quite the buzz word for over a decade now but there’s a new kid in town, the Gen Zs. Gen Z are broadly classified as those born between 1995 and 2015.
While many of us are now (for the most part) accustomed to living with technology, Gen Z differs in that they were born right into the time of mobile technology, where they could easily access the internet and be connected all thought a device in their hands.
Being born in an era where every company and product is aimed at bringing about instant gratification for its users and consumers, Gen Zs are accustomed to the speed and have little patience for processes that don’t bring about immediate response.
A Generation of Go-Getters
You thought you were frustrated by back and forth calls to schedule an interview? Well according to research by Yello, a talent acquisition software provider, Gen Z job seekers are 66% more likely than millennial counterparts to be frustrated with the back and forth process in scheduling an interview.
When every other aspect of life for Gen Zs are set a pace of instant gratification, businesses looking to attract the sharpest and brightest talent will also have to follow suite.
With technology and social media setting the new standard of experience and engagement, if companies want to properly engage with the new generation, they will need to update the way they interact with Gen Z candidates and employees. While only 38% of millennials have applied for the job via their mobile device, 46% of Gen Z said that they have once done so, 20% more than the Gen X, according to studies by Yello.
On top of setting a new pace, social media has also provided this generation with a new platform and means to connect and make money. Over the years, the percentage of teens taking summer jobs has dropped, but not because they are not money conscious. Instead, according to a study by Harvard Business Review, around 70% of teens are self-employed, making Gen Zs more financially independent at a young age that previous generations.
A Surprising Need for Interpersonal Connection
Armed with a conscious understanding of data and personal information, Gen Z are less comfortable (44%) with how companies use their personal information compared to millennials (55%). In the same research by Salesforce found that only 63% of Gen Z would say they trust companies while 71% of millennials indicated that they trust businesses.
What’s interesting however is that in Yello’s research it was revealed that Gen Z were more likely to value interpersonal interactions, with 51% preferring face to face interaction in the recruitment process.
This pursuit for authentic engagement also meant an impact Gen Z’s decision process to accepting an offer. Compared to the 29% by millennials, 44% of Gen Zs (Study by Yello) said the recruiter they spoke with had the biggest impact on their decision to accept a job.
What does this all mean for businesses? With the rising competition for the best talent in the market, companies need to start now in updating their recruitment process to appeal to the latest generation of the working population. This means updating their HR system to meet the new digital era. Is the recruitment process at your company up to date?
HR tech: More than just a cherry on top
Previously, companies were able to take a more laid back stance towards investing in HR tech and strategy. However with the Gen Z entering into the workforce, unless businesses are willing to lose the best talent to their competitors, they will need to quickly update their HR arsenal in order to appeal to the best people in the market.
Restoring the role of recruiters
It’s not always that businesses will get a second chance like this. However, with Gen Zs seeing recruiters as trusted advisors, it’s important that businesses use the opportunity wisely by putting in place the right people and strategies to properly attract and retain talent.
Much to do, little time to lose
While recruitment is key, it’s important that companies adopt a more holistic approach in attracting and retaining Gen Z talent. To update the HR function as a whole, businesses will need to turn their attention to streamlining their HR system so that they won’t appear dated and risk damaging their internal brand.
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With 20 years of recruitment experience in Asia, Links has been trusted by over 10,000 clients with finding the best people to build their businesses. Get in touch with own of our representatives and learn how we can help you expand your team.