Gen Z in the workplace: How to attract young talent to Credit Management
Recruiting and retaining young talent is a challenge many credit managers struggle with. The arrival of Gen Z in the labor market brings new expectations and a different perspective on work. They grew up in a world of digitalization, social media, and an evolving work culture. But what truly drives them? How do they view their careers, and how do they fit into a sector like credit management?
We spoke with Oliwia, Nino, and Olav, three young employees at Ultimoo Incasso who deal with debtors, payment arrangements, and customer contact on a daily basis. Their insights reveal what companies must consider if they want to attract and retain this generation.
Inspiration from a Different Angle: Social Media as a Career Advisor
While older generations often found career inspiration through professional literature, networking events, or mentors within an organization, Gen Z looks primarily to social media. Platforms like TikTok and LinkedIn play a major role, but in a very different way than traditional networks are used to.
LinkedIn is still recognized as the go-to platform for business insights, but it doesn't hold the same allure that older generations often attribute to it. Young people see it mainly as a place where you 'must' showcase your achievements, whereas TikTok shows what is actually possible. Short videos where young entrepreneurs demonstrate how they became successful, how they generate passive income, or how they invest, capture their imagination much more effectively.
This doesn't mean companies should move their entire employer branding to TikTok, but it does illustrate that traditional recruitment and inspiration methods don't always resonate with this generation. Young talent is motivated not just by a career path within a company, but by the broader opportunities and possibilities they see passing by online.
Work: A Means or an End?
For Gen Z, work is no longer an obvious life goal in itself, as was often the case for previous generations. While the 'Boomer generation' grew up with the idea that hard work was automatically rewarded and Millennials sought work that provided fulfillment, Gen Z has a much more pragmatic view of work.
Salary is important; all three employees acknowledge this immediately. But money is not the only motivation. They want to develop, hold a challenging position, and feel that their work matters. A job must be varied and offer room to grow. Stagnation is seen as regression.
Nevertheless, the financial factor cannot be underestimated. Ask a young employee if they would rather have a challenging management role for a good salary or stock shelves for an even better salary, and the choice is surprisingly often financially driven. This shows that Gen Z does not settle for the promise of future growth without receiving something immediate in return. Companies wanting to compete in the labor market will therefore need to invest not only in growth opportunities but also in an attractive starting salary and excellent secondary benefits.
The Debt Collection Industry: Image vs. Reality
When a Gen Z employee mentions they work at a debt collection agency, it is often met with a skeptical look. The sector has an image problem and is too often associated with 'aggressive debt collection.' However, the reality within the industry is different.
Younger employees see their roles much more broadly than simply demanding money. They view themselves as problem solvers, seeking feasible agreements and payment plans. Not everyone can pay immediately, and providing a solution that works for both the debtor and the client is seen as essential.
The importance of empathy in credit management is becoming increasingly clear. It helps when employees understand that a large energy company operates differently than a local football club with small membership fee arrears. While one customer may feel immediate consequences of a payment delay, another might be able to wait without direct repercussions. Understanding these nuances and acting upon them makes a collection specialist more effective.
For employers, this means they must continue to emphasize the human aspect of credit management. Young talent doesn't just want to work for a company that achieves results, but for an organization that operates in a socially responsible manner.
Automation: Will Artificial Intelligence Take Over?
With rapid developments in AI and automation, the question arises whether human collection specialists will become obsolete. The younger generation is well aware of this and views technology primarily as a tool, not a replacement.
AI can make many processes more efficient and reduce repetitive tasks. But where a system stops at programmed scenarios, a human can ask follow-up questions, recognize nuances, and show empathy. Especially in complex claims or distressing situations, human interaction remains necessary.
Still, there is a clear expectation that automation will lighten the workload and potentially even lead to a shorter workweek. The traditional 40-hour workweek is already being questioned. Why work five days if AI allows you to do the same work in four? For companies, this means that flexibility and an efficient work environment are more attractive than ever.
How Do You Bind Gen Z to Your Company?
Companies that want to successfully engage Gen Z and young talent must take several crucial steps. These steps are sometimes at odds with the 'sacred cows' that have been common in the world of credit management for years. Three elements stand out:
- Growth Opportunities and Responsibility
Young talent will not stay in a job with no future prospects, even if the salary is good. They want to know there is room to develop and that performance is rewarded. - A Flat and Accessible Corporate Culture
Hierarchy and rigid protocols do not work for this generation. They want to be heard and experience direct lines of communication with management. Companies that encourage flexibility and collaboration have a competitive edge. - Flexibility in Working Hours and Environment
The traditional 9-to-5 mentality is becoming less attractive. Working from home, hybrid work, and a workweek that adapts to productivity rather than fixed hours are becoming increasingly important.
Investing in Young Talent
Gen Z is not 'lazy' or 'demanding,' as some stereotypes would have you believe. They are ambitious, critical, and want work to align with their lifestyle and values. Companies that understand how this generation thinks and works can benefit from their fresh perspectives, energy, and digital skills. In the world of credit managers, this generation is a valuable addition. Their fresh outlook on the world is often deeper than initially thought.
“At Ultimoo Incasso, we reap the benefits of young talents like Oliwia, Olav, and Nino every day. What appeals to me personally is the beautiful balance between 'an agreement is an agreement' and the sincere will to help. Gen Z hates injustice but also has a social heart. It’s great to see how this works both ways in the collection world—toward the client, but also toward debtors. Our decision to invest in a new generation of professionals has proven to be a resounding success.”
The question is not if companies should adapt, but how quickly they will do so. Because if there is one thing Gen Z has no patience for, it is waiting for change.
