In just three years’ time, there will be as many Gen Zers as millennials in the Asia-Pacific (APAC) region. These two generations will take up half of the population and will be the most dominant workforce. Do you know how to relate to them in a candidate-driven market?  

What is Gen Z?

Gen Z refers to the generation born between 1996-2012, as opposed to the millennials (born between 1981-1996), Gen X (born between 1965-1980) and baby boomers (born between 1946-1964). As the first generation of digital native – being exposed to the internet and digital devices when they were born – Gen Zers are tech-savvy, culturally diverse and values-driven. 

The earliest cohort of Gen Z is now 26 years old. They might have just started to get their feet on the ground, mostly without a family of their own. They are waiting to commit to a career that they would dedicate their time and energy. Employers, and their employer brands, need to be Gen Z ready before it is too late. 

Companies in Hong Kong are competing for talents

Interestingly when we hear so frequently about global recession and massive layoffs among the tech giants in U.S., employers in Hong Kong are worrying about talent shortages, or the exodus of talents. Labour force is near a decade-low, dropped 6 per cent from 2018 to 3.75 million people. In April 2022 alone, the total number of the employed and those looking for work fell by 33,700, that is the largest drop in one single month since 1990. During Q2 of 2022, overall job postings in Hong Kong have increased by more than 30 per cent. With demand greater than supply, Hong Kong’s job market has become more candidate-driven than ever. Employers should understand what truly matters to Gen Z in order to attract them.

Gen Zers’ perspective on work and implications

• Opportunity to grow over monetary returns – A study finds that Gen Z are more willing to sacrifice pay for a better chance to grow in a role. Employers should review what career advancement and learning opportunities are offered and communicated to their employees. 
• Values-driven and authenticity – Gen Z wants to see meaning in their work. A study finds that 42 per cent of Gen Zers would rather stay at a company that gives them a sense of purpose than one that pays more. As recruiters, we notice that our Gen Z candidates are often quite vigilant about the social and political stance of their potential employers. Since Gen Z are allergic to inauthenticity, employers should be prepared to show real commitment in addressing the wider social and environmental challenges than just talking about it. 
• Flexibility and work-life balance – the tech-savvy Gen Z expects a certain level of hybrid or remote work for a better work-life balance. A LinkedIn study shows that, when compared with other generations, a higher proportion (72 per cent) of Gen Z is more likely to have left or consider leaving a job because the employer did not offer a flexible work policy. Employers should appreciate the changing notion of work and embrace the new realities offered by technology. 

The naming of different generations provides an analytic tool to understand ‘how different formative experience interact with the life cycle and aging process to shape people’s view of the world.’ One must, however, resist the temptation to oversimplify differences across generations. Some major events such as the pandemic could have far-reaching impact on the humanities regardless of generations. That said, many companies noticed it is simply impossible revert operations back to the pre-pandemic times. Those who can adapt to address what work means to the post-pandemic generations will definitely put themselves at a better position for future talent competition.