The recently released data from Microsoft gives us an insight into the minds of Gen Z college students. Generation Z, defined as people born between 1997 and 2012, is growing up in an age of skyrocketing college costs, increased environmental awareness, and unprecedented technological progress. Debt, climate change and technology are just some of the issues Gen Z knows about. [Sources: 4]
The poll, conducted by YouGov, asked 17 to 25-year-olds about their career goals and expectations before they entered the workforce. The data show that the 2019 class is a tech-savvy, value-oriented group of young professionals. According to the YouGov survey, half of students believe technology will help them work with older generations. Mark Sparvell, senior manager of education marketing at Microsoft, talked to BestCollege about what a typical Gen Z student is looking for in a job. [Sources: 4]
Having a job that is consistent with their values is a top priority for millennials. Icon: GenZ wants to dedicate itself to a work that has meaning and purpose. Forty-four percent of respondents said they would rather be unemployed than stuck in a job they don't love. [Sources: 4]
Gen Z believes they have a deep understanding of how technology is changing the way people work and live. They are ready to learn new professional skills and are confident that they have the technological skills employers are looking for. Many in Gen Z worry about the right soft skills and experience to be in the workplace. [Sources: 0]
Each generation shapes workplace culture and how marketers reach their consumers. Generation Z is no different from previous generations. What makes this generation unique is their desire for creativity, cutting-edge technology and the opportunity to share their experiences online. [Sources: 0]
The main motivator for Gen Z workers is to learn how to improve their work to earn money and get promoted, which is consistent with the professional and financial values they aspire to in their careers. Technology is evolving at a rapid pace, and as each new generation of workers enters their careers, one of the best ways to learn about the future of work is to observe how Gen Z works. As workers grow up digitally, they need to understand the fast-paced nature of technology, which requires adaptation and skills building to succeed in their careers. [Sources: 7]
Hoping to achieve better pay and job mobility in an uncertain economy, workers are looking for jobs, and job hopping is a trend that millennials and Gen Z are expected to dominate in 2021. According to a new study by IBM's Institute for Business Values, one in five workers changed jobs last year, with 33% identifying as Gen Z and 25% as millennials. Gallup identifies millennials as the most likely generation to change careers, suggesting that six in 10 millennials are open to new job opportunities. Nearly one in four workers plan to change jobs this year, an increase from last year. [Sources: 6]
The idea that millennials and Gen Z are creating this trend is a common misconception. While every generation has experienced job hype in search of the right job, data suggests that millennials are slower to do job-hopping than their peers of the previous generation. [Sources: 6]
A recent Gallup report on the millennial generation found that 21% of millennials said they had changed jobs in the past year, more than three times as many non-millennials who reported the same. Gallup estimates that millennial sales cost the US economy $305 billion a year. People of this generation (born between 1980 and 1996) who are not members of any organisation or institution are more likely to move from business to business than any other generation, according to the data. [Sources: 8]
Millennials are increasingly worried about the future, meaning they won't find a job on the list of dying industries. According to BLS data, the majority of jobs that are expected to grow on average over the next decade are physician assistants, statisticians, and market research analysts hoping for strong employment growth. [Sources: 2]
As more and more people enter the labor market worldwide, the pace of labor growth will continue to exceed the rate of job creation, according to the International Labour Organization. This means that there will be more job seekers than vacancies. Even among well-educated millennials, developing countries still suffer from high unemployment and underemployment. [Sources: 1]
This imbalance will only get worse in the coming years. Nearly 9 in 10 U.S. citizens who are part-time MBA candidates are millennials. Indeed, there are more unemployed college and university graduates looking for their first job than ever before. Along with millennials and Gen Z, the number of US workers in occupations requiring above or below-average education, training, and experience rose from 4.9 million in 1980 to 8.3 million in 2015, an increase of 68%. [Sources: 1]
Many full-time job offers include internships, but Brainlys research shows that 58% of students said their summer internships were cancelled due to the coronavirus pandemic. The traineeships were 41% personal traineeships, which means that 59% of students did not take advantage of traineeships. The good news is that employers that adapt to remote work will be able to offer students better virtual internships. [Sources: 5]
They can also demonstrate their skills online. Create your own personal website to showcase your skills, experience, references and portfolios. Whether you are a professional or have a college degree, we all stand out in today's crowded labor market. [Sources: 1]
I imagine that many older generations will read this and roll their eyes because they think Gen Z and millennials are much more self-determined than they are. I would reply that they should bear in mind that young workers have few prospects in the current system and are dissatisfied with the options before them. We have seen what happens when companies hold their current positions of power unchallenged, that history goes on, that the status quo can be ignored, and that everything is digital. [Sources: 3]
Millennials were hit hard by the recession in 2009 and, as young adults, are less financially secure than previous generations, according to researchers at Boston College's Center for Retirement Research. Not only do they have more student debt, they also have less money in their retirement savings, their net worth is lower than that of baby boomers and Generation X, and fewer of them own homes. Gen Zer's ability to get a job that pays a fair, non-recession-related amount affects how well they are able to pay off their student loans, affecting their ability to save for retirement, buy a home, and build equity. [Sources: 5]
This generation grew up witnessing how the economic depression affected their families and the families they knew. They have heard horror stories of millennials taking full-time jobs and needing part-time jobs to earn enough money to pay for essentials. Indeed, a 2019 Bankrate survey found that 49% of adults 35 and older have a sideline, and one in three have taken a sideline to survive. [Sources: 7]
Sources:
[0]: https://www.forbes.com/sites/cathyhackl/2020/09/07/gen-z--the-future-work--play/
[1]: https://thriveglobal.com/stories/the-future-of-work-for-millennials-and-gen-z-is-bleak-unless/
[2]: https://www.monster.com/career-advice/article/popular-jobs-millennials
[3]: https://diginomica.com/covid-19-millennials-gen-z-and-future-work-system-change-needed
[4]: https://www.bestcolleges.com/blog/gen-z-career-guide/
[5]: https://www.theladders.com/career-advice/generation-z-careers-coronavirus-pandemic
[6]: https://www.cnbc.com/2021/02/28/millennials-gen-z-are-job-hopping-but-maybe-not-enough.html
[7]: https://www.entrepreneur.com/article/353964
[8]: https://www.gallup.com/workplace/231587/millennials-job-hopping-generation.aspx
