Generation Z has grown up in a world of modern and advanced technologies, leading them to develop distinct expectations of their work environment, which necessitates a fundamental reevaluation of human resource management (HRM) strategies and functions to effectively attract, retain, and leverage this young workforce. This applied study, adopting a qualitative, interpretive, and inductive approach, explores these expectations and proposes corresponding adaptations in HRM practices by interviewing 15 purposively sampled students from the University of Tehran. Using thematic analysis, the data was coded in three stages, resulting in the identification, synthesis, and categorization of 6 overarching themes, 35 organizing themes, and 173 basic themes. The findings reveal Generation Z’s expectations concerning six core HRM functions—job nature and conditions, recruitment and hiring, onboarding, training and development, performance management, and compensation and benefits—while offering practical recommendations to align these functions with their needs. Addressing these expectations will not only update and enhance HRM effectiveness in alignment with organizational strategies but also foster greater job satisfaction and professional growth for this generation.