Wondering if your company is OKR ready?
Why OKR Management works best for GEN Z?
GenZ is the next-generation workforce, and thus, creating a workspace aligning for them is what should get the center stage in the coming years.
Unlike prior generations who expected work to pay the bills, fund leisure, and lifestyle — Gen Z tends to find a purpose in their work. GenZ has been raised by its guardians to follow their passion and thus prefers working at a place where they get to follow their career passions.
By now, you can probably guess where we stand on the debate with annual objectives and OKRs for the existing workforce, but why this decision is important for any business that is looking forward to hiring new talent and retaining them is something we need to ponder over.
Although, as of now, businesses don’t have a large population of GenZ in their workforce, even that small portion is not averse to frequent job-hopping. If this is happening with your organization, we think it’s high time you reconsider your goals and objective-setting strategy because as a survey conducted by Deloitte shows Gen Z & Ys will represent more than 75% of the global workforce by 2025.
While GenZ looks for job satisfaction wherever they go, it can be extremely valuable for business leaders to introduce them to OKRs right at the early stage because OKR Software keeps everyone on the same page while setting the objectives rightly. When objectives are aligned with the company’s mission, employees feel a sense of importance in the company. This feeling of contributing to the company’s growth brings job satisfaction. According to a survey by SHRM, the job satisfaction rate had increased from 81% in 2013 to 88% in 2016. And there are various factors contributing to this such as changing mindset of employers, increase in pay, benefits and some. So, before moving ahead, let’s see how OKRs channel Job satisfaction among GenZ.
• OKRs Increase in productivity
• OKRs are great for skyrocketing performance
• OKRs helps in decreasing the Attrition rate
• OKRs keeps the Employees Engaged
• OKRs channels the constructive feedback
Now, as you know the crux of this, let’s take a deep dive into
Why OKR Management works best for GEN Z
• GenZ has Entrepreneurial Minds:
Research says that 42% of GenZ plans to work for themselves at some point in their careers. This quality of GenZ contributes a lot more in making the workplace grow with an entrepreneurial spirit. Businesses these days can make the most of it by tapping into their entrepreneurial mindset by effectively communicating company goals with them. When GenZ gets more opportunities to innovate and overcome the challenges, they’ll feel the entrepreneurial spirit at their workplace themselves.
• GenZ are TechSavvy
A study by Forbes reveals that GenZ is more connected to technology than the previous generations: while Millennials grew up during the rise of technology, Gen Zers were raised as technologically fluent. Thus, modern-day enterprises can make the most of it in the emerging age of hybrid work culture.
When new graduates enter the workspace, they will find it much easier to adapt to performance management and goal setting software being already used in the company. So much so, that for organizations, it will be relatively easier to bring GenZ on OKRs than GenY.
• GenZ knows how to grab opportunities for growth.
As mentioned before, GenZ looks for job satisfaction wherever they go. Thus, their focus is always more valuing grabbing growth opportunities. Insights from various research say that GenZ knows how to maintain the balance of opportunities over salary. With getting the GenZ workforce on board, their focus will be more on the goal-setting structure.
Now, as you know, why OKRs will work best for GenZ. Here are some quick tips on how you can prepare your workplace for them
• Demonstrate your values and authenticity:
To attract the GenZ workforce to your organization, you need to pull up your socks in many key areas. Demonstrating your values and authenticity remains the first. This generation has grown up to value mentorship, and need managers they can learn from. This is why it’s important for companies to articulate to their people how they find personal meaning and value in their work. Once the GenZ workforce is a part of your organization, it’s important to demonstrate your values and authenticity in a way that matches the company’s vision.
• Find ways to empower them as individuals:
This upcoming generation is used to having freedom while working as per their own preferences. Thus, the moment they’ll feel that your organization is not nurturing and empowering them, they’ll leave and find a company that values them. When you allow your employees opportunities for personal growth, they’ll find it reasonable enough to invest their time even in the part of the job that they may not like as much.
Once both the parties share the same level of trust, incorporate OKRs. The OKR framework will give the push to the entire organization in the direction of achieving goals. GenZ will fit best here because OKRs empower people to set aspirational rather than easily attainable goals to help them reach higher success for themselves and for the company.