You may have heard recently terms used to explain the 2021 job market as the year of the Great Resignation and Reshuffle.
As the workforce changed with the onset of the COVID-19 pandemic, people were forced to make some substantial changes. Several people were suddenly displaced from the office through unemployment and remote working and had to quickly restructure their priorities.
It also has not gone unnoticed that a record rate of baby-boomers decided to retire when faced with job loss and a pandemic recession; thus leaving the X, Millennial and Z generations to fill, not just the gaps, but the gaping holes in the current workforce.
As things continue to shift, business owners must focus on retention of current staff, resist the urge to quickly fill open positions, and strategically hire for longevity or they will end up facing the high price of ongoing turnover.
That sounds like a lot, but it really begins with understanding the simple values of the the X, Millennial, and Z generations…
Gen Xers enjoy getting the job done in a casual work environment. They tend to embrace technology and value a sense of pride in their work. Work-life balance is a high priority for this generation.
Millennials value work that has personal meaning in a diverse and inclusive work environment. They are intuitive when it comes to technology and are seeking fair pay, flexibility and sense of purpose.
Gen Zers enjoy the experience of work in a flexible and diverse work atmosphere. They embrace human-machine collaboration and value companies with core values that support global concern. They are seeking mentorship and optimism for the future.
Flexibility is the most common value for the majority of those in the current workforce. Employers who offer flexibility in the workplace will have a leg-up on those who don’t. And, hiring qualified employees whos basic values coincide with the culture and core values of your company is essential.