Candidates born between 1997 and 2012 are known as Gen Z and are the newest generation to enter the workforce. Renown for the ‘Me Too’ movement, businesses hoping to onboard Gen Z candidates will need to transform their recruitment process in order to appeal to the younger generation, especially when recruiting for roles within finance, which can often require stricter protocols and working in an office as opposed to 100% remote opportunities. So to help you revamp your job offers and hiring process, we’ve put together our strategy for success.
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Who is Gen Z?
Before we start talking about restructuring your entire recruitment process for finance roles, we first need to quickly recap who Gen Z is and what makes them so unique within the workforce. Well, this is the first generation to grow up immersed in technology and social media. They were born tech-savvy, and many were holding a tablet or iPad device before they were in primary school. Highly entrepreneurial, many have opened their own business or side hustle, especially during the COVID-19 pandemic. And this makes hiring for full-time in-house roles more challenging than ever before.
Gen Z prioritises roles that give them a high job satisfaction and greater work-life balance. They are most attracted to job offers that include hybrid working and/or home-working with flexible schedules as standard, and sometimes even unlimited paid time off. Yet, they are financially aware, making smarter financial decisions than other generations, and taking time to analyse the brand, their ethics, and practices before making a final decision.
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How to Adapt Your Recruitment Process to Attract Gen Z Talent?
So, how do you attract a generation of digital natives who enjoy self-care and are searching for a stable low-stress job in finance? Well, let’s get into it!
Starting with the recruitment process, to attract Gen Z talent, companies should consider;
Embrace Technology:
Candidates in Generation Z expect a streamlined, tech-driven recruitment process. This entails reaching out to them via platforms such as LinkedIn, Glassdoor, and Indeed, as well as conducting virtual interviews and assessments. They certainly won’t work for companies that seem hesitant or fearful of change and refuse to introduce digital solutions to speed up production and increase performance.
Shine a Light on Company Culture:
Workplace culture is an important factor to consider when applying for a new finance role if you’re part of Gen Z. So companies looking to create a happy team must put their positive company culture in the limelight. But whatever you do, never describe company culture as ‘like a family’ or ‘we’re just one big family’ as this is seen as a toxic workplace for Gen Z candidates.
Focus on Diversity and Inclusion:
Gen Z values diversity and inclusion and expects companies to prioritise these values as they do. So you’ll need to make sure to highlight your commitment to diversity and inclusion in your recruitment process in order to attract Gen Z talent. Make a point that you understand the importance of a ‘mental-health’ management and that employee wellbeing is a priority in your organisation as a Harvard Business Review Mental Health at Work Report found that 75% of Gen Zs have left a job due to mental health reasons.
Offer Flexibility:
Since Gen Z values a harmonious work-life balance and prefers flexible work arrangements, consider offering options like remote work or flexible working hours to attract Gen Z candidates. This can help make even a finance role seem more flexible and stress-free.
Show Career Growth Potential:
Another way to get Gen Z talent to consider joining your team is to clearly show how they can quickly move up the corporate ladder within your company. While stability is important, career growth is just as vital to Gen Z, and with an entrepreneurial spirit, they’ll be looking out for ways to advance within a company as fast as possible.
Where do Gen Z Look for Job Opportunities?
Now let’s move on to posting your finance role online and getting candidates to apply to it. First, you need to understand where Gen Z searches for jobs.
As digital-first professionals, they will be active on platforms such as LinkedIn, Instagram, and TikTok. So, as a recruiter, this is where you should be promoting your open vacancies for finance roles. By sharing job opportunities on these social media platforms, you’re also demonstrating to potential candidates that the company is modern, forward-thinking, and understands the power of social media marketing.
Combine a recruitment push on social media with a couple of posts about your company culture, brand vision, flexible working hours, and supportive team, and you’re onto a winner! Your social media profiles should give potential candidates a glimpse into your company culture, values, and working environment.
How to Position a Finance Role as an Exciting Opportunity
Finance roles may not seem exciting to Gen Z candidates at first, but there are some pretty smart ways to position them as desirable opportunities. Here are some strategies to consider as a recruiter;
Highlight the Impact of Finance:
Finance plays a critical role in any organisation, and it's important to highlight the impact that finance roles have on the company's success.
Emphasise Career Growth Opportunities:
As we’ve just mentioned, career development is key to Gen Z, and finance roles offer many opportunities for career growth and development, including certifications, promotions, and lateral moves.
Showcase Innovation:
Finance roles are becoming increasingly tech-driven, with automation and data analytics transforming the industry. Highlight the innovative and dynamic nature of finance roles to appeal to tech-savvy Gen Z candidates.
Offer Unique Perks:
Consider offering unique perks like student loan repayment assistance, financial planning, and wellness programs, or flexible work arrangements to make finance roles more appealing. Do you reward employees by allowing them to bring their pets to work? Do you have a Wednesday treat day? Do you provide a budget for training and team building? Perks like this can help encourage candidates to join your company, without having to offer more than you can afford in terms of salary.
How to Make the Onboarding a Success & Turn Them Into Happy, Long-Staying Employees
Last but not least, we come to the onboarding process. Once you've successfully recruited Gen Z talent for your finance roles, it's important to make the onboarding process a success to ensure they become happy, long-staying employees.
Here are some strategies to consider:
Provide Clear Expectations:
From the start, establish clear expectations for the role in the finance team and the company as a whole. Job responsibilities, performance metrics, and cultural expectations are all part of this.
Offer Mentorship and Support:
Mentorship and support are important to Generation Z. Consider assigning a mentor to new hires or providing regular check-ins with their supervisor to ensure they feel supported and valued.
Emphasise Training and Development:
Opportunities for career growth and development are important to Gen Z. Provide regular training and development opportunities to assist them in growing and advancing within the organisation.
Foster a Positive Company Culture:
Company culture is crucial in retaining Gen Z talent. Encourage a positive company culture by providing socialisation opportunities, promoting diversity and inclusion, and recognising and rewarding employee contributions.
Embrace Technology:
Because Gen Z is highly technologically savvy, incorporating technology into the onboarding process can help them feel engaged and connected. To make the onboarding process more engaging and interactive, consider using virtual onboarding tools, gamification, or social collaboration platforms.
Solicit Feedback:
Finally, seek feedback from new hires to identify areas for improvement and to ensure they feel valued and heard. Check in with new hires on a regular basis to see how they're doing and solicit feedback on the onboarding process and company culture.
To sum it up, hiring Gen Z for a Finance role in your business doesn't have to be difficult as long as you follow our strategy for success.
For more tips, here are 6 mistakes to avoid when hiring a new finance team member.
