By 2020, Gen Z will comprise 20% of the workforce – that’s only 3 years away! They were born between 1994 – 2000 and have seen a lot in their short lives. This sets them apart from previous generations of workers – especially the slightly older Millennials.
So what can your business expect from this new era in the workforce?
1. Values forged by the GFS & post 9/11era
For the first time in many decades, Gen Z has grown up with large-scale violence, uncertainty and financial instability.
9/11 changed the world we live in and Gen Z was born in the post-9/11 era. In 2008, they experienced economic uncertainty with a global financial crisis that saw their families struggle financially with reduced working hours and/or unemployment.
These factors have developed a strong need for security and predictability in Gen Z workers and they are prepared to work hard to achieve financial stability.
2. True digital natives
Gen Z were born with technology at their fingertips. Mobile phones were used to entertain them as toddlers. At school, educational tools were based around digital means.
According to US job site Monster, 23% of Gen Zs believe texting is an appropriate form of business communication (compared with 13% across all other working generations). They also believe in the power of “social networking” for business.
However, they value in-person communication at work and want to develop strong, open communication with their co-workers and managers.
3. 74% want meaningful work
While income is important to Gen Z, 74% believe work should contribute more than an income. Up to 30% said they would be willing to accept a pay cut to work for a cause they feel passionate about.
4. They’re entrepreneurs
Almost 13% of Gen Zs have already begun their own business while almost half plan to do so in the future. This ambition is, in part, fuelled by their quest to remain in charge of their careers so they do not fall victim to the employment wows of their parents. But it is also driven by their ability to access all the information they need quickly and inexpensively so they can solve problems and acquire new skills.
5. Extremely hard working with a need for flexibility
77% of Gen Zs expect to work harder than previous generations. They are often willing to work long hours, evenings and weekends. But these long hours come with an expectation for flexibility with laptops and other mobile devices considered essential to perform their work. In fact Gen Z expect to be free to work remotely as part of their normal work week.
Managing performance across the generations
There is no age barrier in recruiting high performing staff. The trick is to have the knowledge, culture and procedures in place to ensure your business can make the most of these high calibre people.
Help and advice is only a phone call away. End2End Business Solutions are your out-sourced HR department. Whether you need general advice or assistance with a tricky staffing issue, call End2End today on 02 8977 4002.