The ladder of success is best climbed by stepping on the rungs of opportunity.
~ Ayn Rand
Move over Gen Y. Gen Z is here!
So much has been written about Gen Y, often referred to as the Millennials, that many have forgotten about the next group of young professionals coming up in the ranks. There is no consensus on when Gen Z starts and ends, but typically it’s between the mid-1990s to the mid-2000s. This makes the oldest in this group around 23 years old.
Who are they?
Several distinctions differentiate this newest generations from their predecessors. Gen Z is the first generation to grow up in an internet-centric society and are highly technologically savvy. Contrasting that, they don’t have highly developed social skills. Some of their soft skills, such as professional written communication, have not been cultivated with their truncated messaging practices.
With Gen X and Y, it was a forgone conclusion that they would attend some college, following high school, if they had the resources to do so. However, in one study, 47% of Gen Z said, they would consider joining the workforce right out of high school and 60% said they would be open to employers offering education in their field in lieu of a college degree. Their preference is to learn by doing and they tend to be more career focused than the last 2 generations before them.
The competition for Gen Z talent is starting
I was surprised to read recently that Gen Z workers are expected to comprise 36% of the workforce in 2020. That’s less than a year away! It seems like just yesterday we were talking about Millennials joining the workforce. This is a meaningful group for which many businesses have failed to prepare.
With unemployment hovering around 4%, the demand for talent is still a big issue for many organizations who will need to adjust their people strategies to attract and retain this group of digital natives.
What Gen Z wants
Contrasting with past generations such as the Silent Generation or Baby Boomers, it’s not JUST about a paycheck, but about work that is fulfilling. They want to make an impact on your business and mission. They want opportunities focused on providing them with career growth and if you can’t or won’t provide it, they will find a company that will.
They’ve grown up in a post-911 world filled with news of terrorism, war and economic distress. Having stability in the workplace is also a priority.
They expect a deliberate use of software and technology in the workplace. They want information at their fingertips. They’ve never known a world without a smart phone.
With all of this ‘technology’ in their background, you might be surprised to learn that most of Gen Z prefers in-person meetings. One survey said over 90% prefer a human element to their teams.
Mentoring is coming back as a much-valued practice, as well as flexibility with work hours and wellness-oriented benefits.
Alphabet Soup
Every generation leaves their mark on society and I am excited to see the advances and positive changes this new group of leaders will bring to the workplace. Despite the classifications and groupings, we all have so much more in common as human beings in society than any generational delineation may indicate.
By the way, in case you’re wondering, the next group of leaders following Gen Z will be called Alphas! If their name is any indicator of what we can anticipate, I have 2 words for you: Get ready!
Start where you are. Use what you have. Do what you can.
-Arthur Ashe