4 Ways to Attract and Retain Top Gen Z Talent
By implementing these strategies, brands can remain competitive and ensure they are taking advantage of the unique skills and perspectives that Gen Zers have to offer.
Luxury brand companies are increasingly looking to hire Gen Z workers due to their unique skill set and outlook on the future. Gen Z is the first generation to grow up with technology (rather than into it like millennials), meaning they are more comfortable with digital tools and services than any other generation. With their more holistic view of work-life balance and being used to collaborating and working with diverse groups of people, Gen Z brings a fresh perspective to the workplace.
With the oldest of this generation in their mid-twenties, many have started the first phases of their careers. As such, it’s important to make sure your brand is appealing to this generation of workers. In this blog post, we’ll discuss four strategies for attracting and retaining the top Gen Z talent in the luxury and premium brand space. By implementing these strategies, brands can remain competitive and ensure they are taking advantage of the unique skills and perspectives that Gen Zers have to offer.
Offer Perks and Benefits
Unlike other generations, Gen Z places a heavy emphasis on mental health and wellness. According to Handshake, 76 percent of Gen Z respondents said healthcare is the most important benefit, and 73 percent in the same survey respondents said benefits would be the number one reason they would stay with an employer.
If you want to attract and retain the best Gen Z talent for your luxury brand, one of the most important steps is to offer them unique benefits and rewards. When it comes to luxury brands, Gen Z is looking for experiences, not just a paycheck. To ensure that your company is attractive to top talent, you should strive to offer incentives that are both competitive and reflective of your brand’s core values. This could include anything from gym memberships and flexible work hours to mental health days and an overall competitive PTO package.
By offering these extra benefits, you can show Gen Z that you value their contributions and are willing to invest in their well-being. Additionally, by providing unique benefits, you are demonstrating that you are a cutting-edge brand committed to meeting the needs of its team members.
Foster a Culture of Inclusion
Luxury brands need to create an environment that is welcoming, accepting and inclusive of all backgrounds. When it comes to DE&I initiatives, nearly 80 percent of Gen Zers said that it’s important for brands to address diversity and inclusion, and more than half (53 percent) want to see more diversity in senior leadership positions.
It’s essential to demonstrate that your company values diversity and respects each individual’s unique qualities and contributions. This can be done through activities such as diversifying hiring practices and implementing policies that protect against discrimination. By creating opportunities for employees from diverse backgrounds to come together and share their experiences and perspectives, the brand will become more aware of the needs of its diverse employee base, cultivating a culture of inclusivity, acceptance and appreciation. This cultural awareness will also lead to a better inherent understanding of a diverse customer base, which is a key goal of most consumer brands.
Create Opportunities for Growth and Development
One of the most important aspects in attracting and retaining top Gen Z talent is offering ample opportunities for growth and development, both personally and professionally. This can be achieved in a variety of ways, with luxury brands looking to find unique and creative approaches that capture the attention of potential employees.
Luxury brands should focus on providing career guidance and mentorship. Having an experienced mentor that can help guide career goals is invaluable for younger generations, creating a feeling of connection between companies and their employees. Job shadowing programs or internships can also be beneficial, as it allows them to gain experience in various areas within the company.
It’s also important to make sure Gen Z employees have access to the necessary resources they need to grow in their roles. Companies should invest in online courses, seminars or other learning experiences that can help develop skills that are both industry-specific and personally beneficial.
Gen Z Talent Wants You to Leverage Technology
Technology is one of the most important tools to attract and retain Gen Z talent. Luxury brands should recognize the potential technology offers to reach new and diverse audiences, differentiate products and better understand customer needs. From developing a strong online presence through social media marketing to introducing innovative customer service strategies and leveraging machine learning, brands must be willing to adopt technology if they want to remain competitive.
For example, creating an AI-enabled chatbot on a website or app can help customers better understand product features, answer questions and provide tailored recommendations. Additionally, technology can also be used to offer a personalized shopping experience, with brands using predictive analytics to anticipate customer needs and target individuals based on their browsing history. Luxury brands should also take advantage of virtual reality (VR) technology to create immersive experiences for customers. VR can be used to give customers a closer look at products, from the cut and fabric of apparel items to the artisanship of handbags and watches. By providing an interactive environment to learn about their products, brands can show that they are modern, cutting-edge businesses that are in tune with the needs of the Gen Z generation.
The Bowerman Group is your partner for investing in the future of talent with our deep connections and insight into our chosen target market of luxe and premium brand companies. Reach out to a recruiter today and grow your team with the right fit.