According to surveys, 42 percent of 17 to 23-year-olds are employed full-time, part-time or as freelancers, which is the highest percentage of younger people. These three forces are evolving into a powerful confluence of technology and behavior. The adolescent behaviours that we have discussed in the past will influence the attitudes and consumption of these generations. [Sources: 0]
Each generation shapes workplace culture and how marketers reach their consumers. Generation Z is no different from any generation before it. What makes this generation unique is their desire for creativity, cutting-edge technology and the opportunity to share their experiences online. [Sources: 5]
Gen Z feels safe in their use of technology, but they also keep a close eye on how their information is used and how privacy is respected. They want brands to reach them on social media, even if they don't expect to be reachable all the time. This push-pull creates an interesting dynamic for a generation that wants to decouple but seems incapable of doing so. [Sources: 5]
The Internet has given Gen Z access to thousands of years of collective knowledge, and they are used to Googling things and asking for advice. They are concerned with autonomy and independence, and this is reflected in the way they work. More than previous generations, Gen Z understands that alternatives to traditional 9-to-5 jobs exist and are viable options. They are also aware of how the world of work needs to change: 62% believe that technical and hard skills need to change, and 59% do not believe that their jobs will exist in the same way in 20 years, so the best way to win them over is to show that your company is investing in education and skills. [Sources: 1]
Gen Zers knows what they want and is willing to work hard for it. Unlike the team-oriented millennial generation, Gen Zers enjoy some healthy competition, thanks in part to the experience they gained during the recession. We saw our parents fighting at home. [Sources: 1]
Generation Z needs a cooperative, human environment. This is the most technology-oriented generation to date, and according to a recent survey, 90% of Gen Zers prefer a human element to their workday and interact with other team members on technology-based projects. [Sources: 9]
Generation Z attaches great importance to comprehensive training in the workplace. As they are trained in a new, more technology-oriented, collaborative environment, the traditional standards of employee training need to be adapted to the new workforce. [Sources: 9]
As automation, machine learning and artificial intelligence become ever more commonplace in the workplace, companies of the future will have to face up to work and switch to a more modern and efficient way of working. This will transform the skills that companies are looking for in their employees, moving from hard skills to soft skills and focusing on automation in many roles. Since hungry young workers see employment as a one-way street, it is essential to understand how they will do otherwise in order to attract and retain them. The future of job-taking by organizations is a new technology-driven practice, and a new age of talent is entering and disrupting the way businesses operate. Although driven, young workers tend to be transient, spending short periods in a job for each generation after them. [Sources: 3]
While the majority of future Gen Z employees are still at school, many Gen Z employees become ideal candidates for companies that open new positions. The youngest generation, Generation Z, covers the period from 1997 to 2012, which means that older members of Generation Z have been able to work since 2011. [Sources: 9]
This generation is starting their careers in the midst of a pandemic. According to several studies, they enter the labour market with less experience than previous generations and are more focused on making money. They are looking for alternatives, and new technologies are creating rapid opportunities. [Sources: 5]
As native Internet users, Gen Z is accustomed to moving quickly with technology for instant gratification, but, as our research has found, they also feel that time is short. So perhaps L & D and HR leaders should invest in micro-learning to know how to close the skills and knowledge gap and blend in with Gen Z's busy lives. [Sources: 2]
In fact, members of the other generations we interviewed share this sentiment. Gen Z consumers are more educated than brands, and the reality is they should be. But they are not, and they know how to get information and develop a point of view. When a brand promotes diversity (or lack of diversity) in its own ranks, for example, the contradictions are striking. [Sources: 0]
About half (42%) say they have their own business. This is 10 percentage points more than any other working generation surveyed. If you recognize Gen Z's entrepreneurial obsession, you want to give your prospective employees more opportunities to own their work and keep it on the payroll. [Sources: 6]
Generation Z (born between the mid-1990 "s and early 2010" s), or millennials, will dominate the workplace in the not-too-distant future. Various studies show that by 2025, the millennial generation (those born between the early 1980 "s and mid-1990" s) will constitute the majority of the global workforce - 75% of the labor force, to be precise. [Sources: 7]
We know that she is different from previous generations in important respects, but in many ways she is similar to the millennial generation that came before her. The members of Gen Z are more diverse than previous generations, and they are well on their way to becoming the most educated generation ever. They are digital natives and have little memory of the world as it existed before the smartphone. [Sources: 4]
One in 10 eligible voters in the 2020 election belong to a new generation of Americans: Generation Z. Most members of this generation born after 1996 are not yet old enough to vote, but those older than them will be 23 years old this year, and 24 million will have the opportunity to vote in November. Unlike millennials, who came of age during the Great Recession, Generation Z is on the verge of inheriting a strong economy with record low unemployment. Their political influence will continue to grow in the coming years, as more and more of them reach the voting age. [Sources: 4]
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. As researchers at Boston College's Center for Retirement Research show, millennials were more affected by the recession in 2009 than young adults of previous generations. Not only do they have more student debt, but 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. [Sources: 8]
Sources:
[0]: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies
[1]: https://business.linkedin.com/talent-solutions/blog/hiring-generation-z/2019/how-to-hire-and-retain-generation-z
[2]: https://www.linkedin.com/business/learning/blog/learning-and-development/gen-z-is-shaping-a-new-era-of-learning-heres-what-you-should-kn
[3]: https://www.occupop.com/blog/how-to-attract-a-millennials-gen-z-workforce
[4]: https://www.pewresearch.org/social-trends/2020/05/14/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far-2/
[5]: https://www.forbes.com/sites/cathyhackl/2020/09/07/gen-z--the-future-work--play/
[6]: https://www.monster.com/career-advice/article/gen-z-boss-0816
[7]: https://www.digitalhrtech.com/millennials-vs-gen-z/
[8]: https://www.theladders.com/career-advice/generation-z-careers-coronavirus-pandemic
[9]: https://www.thebalancecareers.com/working-with-gen-z-4771336
