Written by Stella H. Kim
Published April 20, 2023
Work-Life Integration Over Work-Life Balance,
Offer Intrapreneurship Growth Opportunities
Last year, more than 48% of MZ Generation (Millennials + Generation Z) in the United States changed jobs before hitting the 2 year mark. With the MZ generation projected to make up 60% of the global labor market by 2025, global organizations need to strategize to attract and retain them effectively.
At HRCap, a Global Executive Search & HR Consulting firm, we interact with over 500 candidates daily. We listen to their career goals and preferences, understand their unique background and expertise, and provide them with stronger growth opportunities at our client organizations. After analyzing the MZ Generation candidate feedback, we found that they fall into six unique career categories. From this column onwards, we will introduce and differentiate the characteristics across the MZ Generation with unique solutions to attract and retain them.
The first career category of the MZ Generation is the "Eager Entrepreneurs", who resign to start their own businesses. When asked if they are open to consider a new career opportunity, many from this category share that they are starting their own business and would like our help hiring their own team.
As the “most entrepreneurial generation ever”, the MZ Generation make up the majority of the U.S. independent workforce, and more than 60% wish to start their own business. Why are these talents taking a risk to leave their stable jobs to build a start-up? It is because their passion and value motivate them to pursue achievement with autonomy, value creation, and continuous growth, simply over money.
According to a 2022 Microsoft research, 80% of the MZ entrepreneurs continue to work while on vacation. By embedding social responsibility into their business mission, 82% achieved greater business growth and 52% saw improvement in their mental health. The Eager Entrepreneurs gain new inspiration from various environments and feel greater vocational calling and sense of belonging by building and walking their own paths. For them, work-life integration is far more valuable than work-life balance. They are motivated by doing what they love, and their work allows them a meaningful lifestyle.
To actively attract and retain the Eager Entrepreneurs, many companies have already launched Corporate Venture Capitals, Innovation Labs, and Incubation Programs to enable such a mission-based environment. By doing so, they are able to engage and retain entrepreneurial employees to take on high growth opportunities as intrapreneurs instead. That said, companies must be patient and supportive so the Eager Entrepreneurs can truly focus, add value, and innovate with the organization.
When HRCap asked candidates if they were willing to consider a new job opportunity before the pandemic, only six out of ten candidates responded. Now, all ten candidates respond in some way whether they are actively looking, casually exploring, and willing to network for future opportunities. Job transitions are increasingly common. As the MZ Generation begins to enter and lead the future labor market, organizations must study the different nuances of the six career categories to best understand, attract, and retain talent for greater collective growth.
Stella H. Kim
HRCap - Chief Marketing Officer & Global VP
Original Source: [전문가 칼럼] 6가지 MZ세대 유형 (1)'열정적인 창업가'
Source: HRCap, The Korea Daily, JoongAng Ilbo
Adapted Into HRCap Instatoons
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