How Gen Z is Transforming the Modern Workplace: Expectations, Preferences, and the Future of Employment

Generation Z, those born between 1997 and 2012, are now entering the workforce in significant numbers and in the superyacht industry, this trend is already visible. The average age of a Junior Steward(ess) on Yotspot is 27, and the average age of a Junior Deckhand is 26. These statistics illustrate the increasing presence of young professionals in roles that require dedication and skill.

Changing Demographics in the Superyacht Industry

The influx of younger workers isn’t the only shift happening in the yachting industry. Yacht owners themselves are becoming younger. According to Business Insider, superyacht owners are now 10 to 15 years younger than they were two decades ago. This trend is expected to continue, with a study by the International University of Monaco, in collaboration with shipyard Rossinavi, projecting the average age of yacht owners to be between 35 and 45 over the next two decades.

These demographic shifts have significant implications for hiring practices and workplace culture in the superyacht industry. Understanding what Gen Z values in the workplace is crucial for attracting and retaining this dynamic group of professionals.

Key Characteristics of Gen Z in the Workplace

1. Technological Savvy

Gen Z has grown up in a digital world. They are comfortable with technology and expect it to be seamlessly integrated into their work environments. For the yachting industry, this means investing in advanced onboard systems and ensuring that crew members are equipped with the latest tools to perform their duties efficiently.

2. Desire for Growth and Learning

This generation values continuous learning and professional development. They are keen on acquiring new skills and are attracted to roles that offer clear career progression. Employers should provide opportunities for training and development, such as certifications and workshops, to keep Gen Z employees engaged and motivated.

3. Work-Life Balance

Gen Z places a high priority on work-life balance. They seek roles that offer flexibility and allow them to maintain a healthy balance between their professional and personal lives. In the superyacht industry, this could translate to more structured time off or opportunities for remote work when possible.

4. Purpose-Driven Work

Having grown up in an era of social and environmental awareness, Gen Z is drawn to companies that demonstrate a commitment to positive impact. They want to work for organisations that align with their values and contribute to causes they care about. Superyacht companies can attract Gen Z by showcasing their sustainability initiatives and social responsibility programs.

5. Collaborative and Inclusive Culture

Gen Z values diversity and inclusion in the workplace. They thrive in environments that foster collaboration and respect for different perspectives. Employers should cultivate a culture of openness and inclusivity, encouraging teamwork and innovation.

Adapting Hiring Practices for Gen Z

To attract and retain Gen Z talent, employers in the superyacht industry need to adapt their hiring practices. Here are some strategies to consider:

• Leverage Social Media: Use platforms like Instagram, LinkedIn, and TikTok to reach out to potential candidates. Highlight the unique aspects of working in the yachting industry and showcase stories of current employees.
• Highlight Career Paths: Clearly outline the potential career trajectories within your organisation. Provide examples of how employees can grow and advance within the company.
• Emphasise Training and Development: Offer robust training programs and emphasise the importance of skill development. Make it clear that your organisation is committed to the professional growth of its employees.
• Promote a Positive Culture: Showcase your company’s culture, focusing on aspects like teamwork, inclusivity, and work-life balance. Share testimonials from current employees to provide authentic insights into what it’s like to work for your company.
• Demonstrate Social Responsibility: Highlight your company’s efforts in sustainability and social responsibility. Show how you are making a positive impact on the environment and the community.

ThoughtExchange’s recent report, Gen Z At Work, outlines some of the key expectations that Gen Z are bringing to the workplace:

• 96% of Gen Z employees say it’s important that they feel valued, included and empowered at work
• 80% want a job that allows them to explore and develop new skill sets, rather than focus on one skill
• 79% would like their manager to care about their personal development as much as their professional development
• 53% say they consider workplace benefits when looking for a new role – on average, Gen Z workers would be willing to take a 19% pay cut if it meant that their non-salary needs were met
• 39% specifically look for remote working flexibility, and 71% of those in remote or hybrid work say they would not return to a fully in-person workplace

The Gen Z workforce have high expectations for ESG (environmental, social and governance) in the workplace. 73% would leave a company if business practices were not ethical, while 68% would leave if their business was not sustainable, 62% because of social differences and 58% due to political differences.

Gen Z is bringing new energy and expectations to the workplace. For the superyacht industry, understanding and adapting to these expectations is key to attracting and retaining young talent. By leveraging technology, providing growth opportunities, ensuring work-life balance, promoting purpose-driven work, and fostering an inclusive culture, employers can create a workplace that resonates with Gen Z and positions their organisations for future success.