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I think I'm suited to answer this. I manage multiple people, including Gen Z. I am also Gen Z. People are actively trying to work here.
One of the biggest factors is employee appreciation and respect. A lot of companies will half-ass that front through just giving their employees an occasional pizza party. The problem with that style of management, is that it removes the human aspect. It kind of just turns it into another thing to just "check off the list" for corporate. It's something commonly thrown back at employees who complain. We've seen that happen enough to not want to deal with it.
It's also important to focus on the little things. Small details are what make up the big picture. If you leave those out, the big picture will be incomplete. Congratulate them when they reach a new goal. Tell them when they do work that would make the company proud, within reason. Encourage them, and actually work alongside them sometimes. If you want to throw free food on top, maybe poll your staff for their opinions on restaurants/food trucks. Show them you care.
Regarding the human aspect, a happy employee stays, and a happy employee is also usually a productive employee. Get to know your staff a bit, casually. Try to give reasonable allowances for time off during stressful life situations, like when their home floods or their sibling dies. Most companies will only allow the legal minimum.
Don't expect more from them than what you are willing to do yourself.
Accept their imperfections and work with them towards improvement. Instead of shouting, go straight towards the solution, and include them in the process. Allow them to learn how to avoid the mistake and learn how to fix it with you. Don't baby step it, but maybe show them a cool trick for that process if you have one. Remember that they are human and that there was also a time where you didn't know how to do it.
I'll be frank with you. Many of us don't see a great future over the horizon, so we're kind of making the best with what we have. We want to enjoy as much of the time in-between as we can. We've seen our grandparents, parents, siblings, and other family members become burnt out and emotionally overwhelmed, and we don't want that for ourselves.
The best way to not have that, is to not go along with it. So, hypothetically, I would go to the next job that treats it's employees well, even if the wage is the same. Why would I waste my efforts and hard labor on someone who doesn't value it? Why not spend it somewhere where I can learn, improve, and thrive?
Those all apply to any employee though regardless of generations. Gen z gonna look for another job after 2 years. Expect it.
I don't disagree with that. For some reason, a lot of places think that Gen Z will put up with it like their parents and grandparents did. They treat them like crud, then they're shocked when they leave.
Of course Gen Z might change jobs within 2 years. Most people don't have their entire life plan figured out in their 20's, which I think is fair. It's even more understandable with the craziness of everything going on around the world.