We spoke to Manish Kumar, People & Culture at Flint Money to understand how to create the workplace of the future that's centered around GenZ. Here’s what he had to say:
Does a one-size-fits-all approach work with a GenZ population storming workplaces?
No! I strongly believe in categorisation of approaches based on certain traits and behaviours that are unique to GenZ.
Companies must adopt unique ways of managing their workforce, especially people & culture managers. GenZ wants to be the problem-solver, they need hyper-growth, and want to have a sense of entitlement and fame.
Unlike millennials, flexibility and work-life balance is not a luxury for GenZ, it's a necessity. Building customised processes are thus key to building happier & healthier workplaces.
Do HRs need to be trained differently to deal with GenZ?
100% Yes! Not Just HRs but anyone who is in a people managing role must start thinking the GenZ way. You cannot manage GenZ in an old-school way. They will move out of such workplaces. We should start focusing on building a culture of flexibility and high productivity revolving around fast learning.
Productivity doesn't come from long working hours. It comes from the culture and environment that we see and experience at the workplace. HR should start building:
- A culture that promotes peer and mentor learning.
- A culture that promotes honest feedback exchange.
- A culture that promotes pay parity.
- A culture that promotes learning beyond boundaries.
Policymakers must ask themselves the following questions while formulating policies and processes:
- What does GenZ need? (Eg: Which skill/benefit/structure etc)
- When do they need it?
- Why do they need it?
- Where do they need it?
- How frequently do they need it?
Is the definition of work-life balance different for GenZ?
Yes! The primary difference is in the outlook. Millennials are either married or planning to get married. They prefer fixed working hours to manage family time as well. On the other hand, GenZ knows when they are most productive and prefer working during those hours.
They don't like work hours being force-fed to them. They expect the luxury of coming on their own time and leaving when the work is done. ( Making sure the overlapping hours with other team/ cross team)
What do you think is the biggest difference between retaining a GenZ vs a Millennial or a Boomer?*
Millennials are parents of today's Gen Z. GenZ aren’t influenced easily. They have their priorities set. So, even if you want to retain them by offering revised compensation or fancy designation, they may still not be retained because their expectation from organisation is different.
They just don't want a job, they want to be a part of the core and build something that creates mass impact where they can be part of that success. They don't see any risk in their job as that is taken care of by their millennial parents.
How are you preparing GenZ to be the leaders of tomorrow?
We are essentially following a four-step framework that includes:
- Industry Mentors talks and sessions to fast-forward their learning curve
- Sharing & receiving feedback frequently
- Celebrate the victory and learn from failures and move on fast.
- Focusing on right skilling rather than upskilling
- Creating early leadership opportunities
Have you ever found yourself in a tough spot to deal with GenZ?
Sometimes it takes extra effort and patience to explain things to them like the office dress code or code of conduct.
GenZ wants a very casual workspace, they want to wear everything at work (shorts/sleepers) and want to connect and chat with colleagues very casually. They want to work flexibly and want to work at their convenience (coming late and leaving late) because they know when they are highly productive.
People leaders need to change the way they think and operate. The market will soon be dominated by GenZ and if we (people leaders) don't change our approach, attracting and hiring the right talent will become a challenge.
About Manish Kumar
Manish Kumar is a seasoned people & culture professional. He takes care of everything people & culture at Flint. He is a passionate people and culture professional aiming to create a positive employee experience by being a strategic business partner, a change agent, an employee champion and a recruitment expert.
Flint is the home for crypto-natives to grow their wealth stablecoins, envisioning itself to be a comprehensive solution for all wealth management in cryptocurrency, making crypto interactions simple and accessible.