Generation Z wants constant and trackable feedback from employers. Traditional employee reviews, which happen 1-2 times per year, don’t help with these needs. By using technology to optimize HR functions, such as performance management platforms, Generation Z can monitor daily progress, set goals, surpass them and start the process over again.
The post-millennial generation is joining the workforce in droves. A recent study shows Generation Z will make up 82 million people within the U.S. population — the most populous generation to date. To welcome this new wave of workers, companies need to prepare to accommodate their evolving needs.
Generation Z is the first of its kind: fully digital. This generation was born into the world of smartphones, social media, high-speed internet, and access to unlimited information at their fingertips. Even with so much technology, Gen Zers still have a deep need for collaboration, human interaction and, more importantly, instant gratification. With their dependence on technology, Generation Z wants instant access to information in real-time. For companies still utilizing traditional employee reviews, this won’t work for Generation Z.
Accommodating to this new wave of workers is a small price to pay when you look at all that Generation Z can offer your company; Generation Z has an independent and hard-working mentality, one in two Gen Zers will be university educated, they are the most diverse generation to date, 47% more globally minded than previous generations, and they will undoubtedly make themselves assets to their employers. By integrating digital technology into your workplace now, you will be setting your company up for recruiting and retaining the best and brightest of Generation Z. It can start with re-working your employee reviews.
Ten years ago, HR technology was traveling at a snail’s pace among corporations. Based on a recent study, the HR tech space is now a $148 billion market of HR cloud-based solutions tailored to the future workforce’s needs. Using technology to optimize HR functions like employee reviews will enable companies to integrate Generation Z into their workplace; in turn, businesses can reap the benefits of this diverse and efficient generation.
Traditional Performance Reviews are Outdated
Traditionally, employee reviews happen once per year. In this 30-60 minute conversation with your manager, you cover loads of information spanning across the course of that year, most of which is outdated by the time of the review. Employees don’t need to hear what they could or should have improved nine months ago. They need to be hearing what they could have fixed last month, or even last quarter. By waiting until the annual performance review, managers miss the optimal time to supply information to the employee to adjust their behavior.
Technology can help companies regularly track and provide feedback on employee performance, not just once a year, but every single day. HR platforms such as Paycom and BambooHR can provide employees with consistent feedback, personalized goals based on that feedback and a performance overview. At any time, employees can log into these platforms and analyze their performance for themselves. Not to mention, performance management is just one aspect of these HR platforms. They can also track payroll, administration, benefits, hiring, onboarding and training along with the performance management portal.
Generation Z Needs Instant Feedback
Gen Zers know what they want from an employer and expect a lot in return. But, they are willing to put in the hard work. They yearn for opportunities to prove their skills and abilities in the workforce. Generation Z wants to set goals for themselves and surpass them time after time. To do this, they rely on their employers to provide them with punctual and consistent feedback. Not only do Gen Zers need regular feedback, but they also need it to be productive and trackable. Performance management portals provide data, graphs, personal and team goals, allowing employees to find daily wins or areas of improvement to help them reach their goal, whether it be a raise, promotion or improvement in certain skills.
With companies working fully remote, or even in hybrid work environments, utilizing an HR cloud-based solution can ensure your company is still providing employees with frequent, trackable data and useful tools to work toward their goals.
There’s one major lesson that HR managers can learn from Generation Z, and here it is: constant feedback leads to constant improvement. In a sense, Generation Z is giving you the necessary feedback to improve your company, as well: workplaces can be improved by integrating technology into HR functions, such as employee reviews. If your company wants to reap the benefits of this hardworking and dedicated generation now flooding the workforce, it is important to make the digital shift, and you can start right now.