My last blog was “Three Key Points in Response to the Recent Anti-DEI Backlash” where I provided ways that organizations can proactively address the recent increase of vocal opposition to diversity, equity and inclusion initiatives. I now want to add to the discussion triggered by an article I read in the March 1-7, 2024 issue of the Triangle Business Journal.
It was actually the cover story and titled “A New Generation, A New Workplace” written by Laura Brummett. The tagline on the front page read, “Starting this year, Gen Z will make up a larger portion of the U.S. workforce than baby boomers. But are companies ready for this change?”
The first statistic shared in the article is that this year, the Gen Z (people 27 years and younger) population in the workforce surpassed the number of Baby Boomers (ages 60 to 78.) And not only that, I’d like to add a point that I raised in my last blog … that this younger generation is much more diverse; over 50% are people of color, and over 20% identify as lesbian, gay, bisexual or transgender.
The TBJ article raises many critical points about this growing younger workforce. They include:
• This new generation is known for caring about social issues, such as diversity initiatives and sustainability.
• This generation is leading to a more progressive culture to seep into the corporate world.
• Savvy hiring managers seeking the best talent are now looking for grit, curiosity and ambition from candidates, instead of the names of prestigious schools or grade point averages. This shift results in companies bringing in more diverse talent pools.
• And as I mentioned in my previous blog, diversity in talent brings different workplace perspectives that drive innovation and transformation.
• Employers are now increasingly seeking talent from community colleges, where 50% of graduates are first-generation college attendees and even more diverse that the general Gen Z population.
• Gen Z-ers are more entrepreneurial and willing to change companies, so organizations wanting to retain and grow excellent diverse talent need to provide this generation what they want from a job. This includes continual learning and growth as well as work-life balance.
As we continue to understand the generational shift in the workplace, DEI strategy and execution become increasingly critical. Those who are part of this anti-DEI movement will soon find themselves obsolete, and ultimately less relevant and less profitable.
