The optimal employee journey to retain Gen Z and Millennial young professionals in the Netherlands
Gen Z and Millennials are becoming a bigger part of the workforce in the coming years. Gen Z and Millennials will become 75% of the workforce by 2025 (Buganim, 2023). Gen Z refers to the generation of people born between 1997 and 2012 (Merrian Webster, 2023) and the Millennial generation is considered anyone born between 1981 and 1996 (Dimock, 2019). Millennials and Gen Z make a significant impact on the company culture, with their fluency in technology, together with their willingness to speak up to persuade their employers to have a purpose beyond profit, to prioritise actions such as climat... Mehr ...
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Dokumenttyp: | masterThesis |
Erscheinungsdatum: | 2023 |
Schlagwörter: | Gen Z / Millennial / Netherlands / Empleo / MBA / Optimal employee |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-28782364 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://hdl.handle.net/10952/7621 |
Gen Z and Millennials are becoming a bigger part of the workforce in the coming years. Gen Z and Millennials will become 75% of the workforce by 2025 (Buganim, 2023). Gen Z refers to the generation of people born between 1997 and 2012 (Merrian Webster, 2023) and the Millennial generation is considered anyone born between 1981 and 1996 (Dimock, 2019). Millennials and Gen Z make a significant impact on the company culture, with their fluency in technology, together with their willingness to speak up to persuade their employers to have a purpose beyond profit, to prioritise actions such as climate change and creating a more diverse, equal, and inclusive work environment (Deloitte, 2022). When the manager understands the behaviour and needs of these generations in the workplace, it will lead to a higher engagement of employees and a lower turnover. Research shows that Gen Z employees may be struggling with engagement at work. According to a 2022 Gallup Poll, 54% of Gen Z employees are ambivalent or not engaged at work (Fernandez, 2023). A meta-analysis of data from 30 case studies over 15 years found that for employees earning less than €75.000, - annually, the cost of turnover is 20% of the salary. Investing in managing these employees and keeping them satisfied will not only result in a higher productivity and engagement, but also result in less costs replacing the employees (Schroth, 2019). In this report, there is research provided on how to retain young Gen Z and Millennial professionals in companies in the Netherlands. Young professionals are young highly qualified (bachelor degree or higher) employees, who are starters or in the process of taking the second step in their career. These employees are already working in the profession in which they want to advance (Your talent, 2019). The choice for young professionals was made, because they are working in an area they want to stay in, and therefore will be more likely to stay for a longer term within a company. It is profitable for these companies to invest in ...