According to a recent study, by 2026, Generation Z will make up 82 million people within the U.S. consumer population, surpassing millennials as the most populous generation. As many Gen Zers enter the workforce, the impact of their entry will be profound. In order to accept this new generation of workers, companies need to prepare by taking action now.
Gen Z is the first fully digital generation. They were born with access to high-speed internet, smartphones, and instant, unlimited access to news and social media. However, they contradict the typical teenage stereotypes of bad attitudes and behaviors. Yet, they still yearn for human interaction and collaboration.
Additionally, they crave instant gratification and can consume content at incredible speeds. For many companies still using traditional employee reviews, it just won’t suffice for this new generation. With their reliance on technology, they want immediate access to real-time information. In this blog post, we will discuss why traditional employee reviews no longer work, what companies can expect with the incoming generation and how they can best adapt to fit their needs.
Traditional employee reviews are no longer sufficient
Traditional employee performance reviews generally happen once a year, or more often if there are underlying circumstances. Generally, when an employee hears the term “employee review,” a sense of dread seems to overcome them –– oftentimes, managers feel the same way.
Why are they so dreadful? Employees don’t want to know what you thought of their work eight months ago; they want to know how they are doing in real-time. Additionally, by taking time out of their day to have a 30-60 minute conversation with their manager to review piles of outdated information, you’ve missed the optimal time to provide feedback, and the ability to shape the employee’s behavior is now limited.
Gen Zers crave feedback
For Generation Z, they seek feedback and expect to receive it in real-time. The generations in the current workforce view promotions and raises as a success. For Generation Z, in particular, feeling seen and appreciated fuels their drive to succeed. In a 2018 Ernst & Young survey, it was found that 97% of Gen Zers are receptive to receiving feedback on an ongoing basis or after completing a project.
Gen Zers not only expect to receive feedback on an ongoing basis, but it needs to be constructive and trackable as well. While they expect these check-ins with their managers to only take a few minutes, using other resources such as a technology portal to track how they are reaching their goals can help them feel as though they are working towards something.
Gen Zers know what they want and expect a lot from their employer –– but are willing to work hard in return. They want a chance to prove themselves in the workforce, and to do so, they expect employers to provide consistent and timely feedback. As your company prepares for the new generation, it is important to cater to your strategy to fit their needs.
To learn more about multiple generations in the workforce, check out our blog on 3 Ways to Limit Stress in a Multi-Generational Workplace!
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