What the Arrival of Generation Z Means for Your Payroll Department

Get ready, hiring managers. Generation Z, those born between 1990 and 1999, has already begun entering the job market. This cohort of recent graduates is brimming with talent and eager to put it to use in your payroll department. But to make the most out of working with Gen Z, you need to understand what makes them tick and how they’ll relate to their baby boomer, Generation X and millennial colleagues.
 
Not every member of Gen Z can be neatly categorized, of course, but their own comments about their work preferences provide useful insights about the group as a whole. Here are some key highlights from Robert Half’s and Enactus’ Get Ready for Generation Z study, and what they mean for payroll managers:

Stability matters
Generation Z isn’t very interested in risky ventures. Because they grew up during the Great Recession, they value workplace security. About eight in 10 (79 percent) Gen Zers polled said their ideal work environment is a midsize or large organization, while only 19 percent wanted to work for startups or as independent consultants. When recruiting this age group, sell them on the solidity of your company’s current and future financial state.
 
Overachieving is the new norm
These young professionals don’t shy away from responsibility. In fact, 77 percent of respondents expect to work harder than employees from millennial, Generation X and baby boomer groups. Additionally, Generation Z is ambitious. When asked where they see themselves in five years, the top response was “managing or supervising employees.” To keep Generation Z satisfied at your company, provide them with professional development opportunities and a clear career path.
 
Collaboration is key
The vast majority (79 percent) of Generation Z respondents feel comfortable working with and learning from millennial colleagues, but 45 percent feel it would not be as easy to work with baby boomers. As a manager, you’ll need to bridge the gap between baby boomers and Gen Zers by highlighting their similarities and teaching them to appreciate the differences each group brings to the table.
 
Generation Z is ready to make their impact in the workforce. Make certain your payroll department is prepared to recruit and maximize the potential of this skilled and eager cohort.
 
Accountemps, a Robert Half company, is the world’s first and largest specialized staffing firm for temporary accounting, finance and bookkeeping professionals. Accountemps has more than 340 locations worldwide. More resources, including online job search services and the Accountemps blog, can be found at accountemps.com.