Make Way for Generation Z!

I can’t believe my cute little nephew is set to enter the workforce soon! It’s a good thing because now he can trouble his colleagues rather than his family members. Like my nephew, millions of youth who are members of Generation Z (aka iGeneration) are poised to enter the workforce in numbers. This generation, comprised of approximately 61 million members, is one of the largest in recent years. It’s double the number of Generation X and about 2/3rds the size of the Baby Boomers. By 2020 they will make up 20% of the workforce. To say they will make an impact at the office is hardly hyperbole. This upcoming generation will most likely bring with it a tidal wave of change!

While the Millennial generation has already reshaped the workplace over the past two decades, the oldest of that cohort is nearing 40 and may have less in common with Generation Z than many may assume. The values that the Millennials brought to the workplace may not align with those of the up-and-coming generation. For one thing, it’s already been shown that Generation Z is far more competitive and independent-minded than their Millennial colleagues. But there are any other differences, some obvious and some subtle, that will need to be addressed in order for workplaces to make way for Generation Z.

Who is Generation Z?

Those who belong to Generation Z were born between ca. 1995 and 2012. The majority of them were born after 9/11 and were children during the Great Recession. Because they have grown up in an era of financial insecurity, they are much more driven to achieve financial stability than previous generations. What does this mean for businesses? It means that these new workers will focus on their salaries and work hard to become financially sound. In fact, according to Fairy God Boss, 77% of Generation Z fully expect to work harder than previous generations have.

What to Expect?    

Expect less of a focus on collaboration. This is a generation that has felt incredible pressure to excel at school in order to gain entry to university. They are incredibly driven and are less focused on the feel-good values that Millennials brought with them. They are also the most diverse generation in the U.S. to date.

Because they are natives when it comes to high-speed technology, they will work faster and will be more willing to jump head first into a project with the need to have quick results. Workplaces will find that streamlining their processes will be a requirement.

Because they were raised in a world that prioritizes online interactions to face-to-face ones, Generation Z will not have the same level of interpersonal skills as previous generations. That said, unlike their Millennial counterparts, they prefer person-to-person discussion thanks to the shift towards videos and video chat on social media.  

Generation Z will choose where they work based on cultural fit rather than on the particular role itself. While past generations applied to work based on job descriptions, this new generation will want to know if the company’s values align with theirs.

Additionally, if they feel that a business is not providing the work culture they desire, they are more likely to start their own company. 72% of current high school students say they wish to start their own businesses! So, it’s good to be aware that businesses will need to focus on their brand and their culture to stay competitive.

What Can Businesses Do to Help Generation Z Succeed?

While Millennials have already made their mark on the workforce, Generation Z will bring with them a further push towards a future of work that those of us from previous generations need to be prepared for. Be ready for a more youthful approach to doing business, one that is brand-centered, technology savvy, hard-working, independent-minded, and competitive.

To help Generation Z succeed, businesses will need to do the following:

·        Become more flexible.

·        Integrate more competition within the workplace, while maintaining the collaborative nature the Millennial workforce prefers.

·        Design workspaces with cutting edge technological integration.

·        Create more opportunities for face-to-face interaction – even if via video chat.

·        Provide career advancement opportunities via upskilling.

·        Build a work culture that is part of their brand.   

With this new generation on the cusp of entering the workforce in large numbers, it’s an exciting time for businesses. If we approach this generation ready to learn from them, we’ll be able to surf the youthful tidal wave instead of finding ourselves dragged by the undertow into the obsolete abyss.