Gen Z is the newest generation to be named and were born between 1995 and 2015. The age group which makes up the generation is between 4 and 24 years of age.
They are commonly mistaken with Millenials, or Gen Y, who were born between 1980 and 1994 and are currently between 25 and 39.
But why should we care about labelling and what makes each generation so different?
For years now, Millennials and Gen Z have both been tainted by a negative connotation: both generations are seen as “entitled know-it-alls”.
Not ones to be labelled, both generations continue to break through these negative stereotypes in a variety of different ways.
For example, we are becoming one of the most educated generations to enter the workforce and have higher expectations for customer experiences.
But why would any of this information concern you? Whether you are a future Gen Z Manager, a colleague, or simply a member, it’s important to be knowledgable of how the workforce culture is changing to be geared towards its people.
To help you get an idea of how hiring Gen Z talent could benefit your company, here are 15 stats to help you understand the labourers of the future workforce:
- Numbers- In 2019, Gen Z outnumbered Millennials whilst making up 32% of the world’s 7.7 billion-person population (Bloomberg)
- Employment- Gen Z is expected to cause an influx of roughly 60 million job seekers in the next decade (CSP.edu)
- Social Fears- Although they’re interested in learning hard or technical skills, 37% of Gen Z worry that technology is weakening their interpersonal communication skills (CSP.edu)
- Job Insecurity- With the evolution of works tyles and emerging technology, 59% of Gen Z professionals think their jobs won’t exist in the same way in the future (LinkedIn Learning)
- Life Learning- When it comes to discovering new skills, 62% of Gen Z will take classes or learn new skills if it makes them better at their job, while 59% will do the same if it will boost their salary (LinkedIn Learning)
- Out Of Office- 77% of the generation reports doing creative activities, such as painting when offline. Meanwhile, 48% say they regularly do creative activities, like meme creation, when online (Snapchat)
- FaceTime- Despite their connection to social media, 51% of Gen Z prefer to communicate with co-workers, friends, and family face-to-face rather than through messaging. (2019 Yellow Recruiting Study)
- New skills- Nearly 60% of Gen Z want to learn a new skill but they feel like they don’t have the time (LinkedIn Learning)
- Thinking Ahead- Nearly a quarter of Gen Z college students start their job search before their junior year (2019 Yello Recruiting Study)
- Thinking Ahead 2.0- About 35% of the age group plans to start saving for retirement in their early 20s (CSP.edu)
- Blurring The Lines- Only 38% of Gen Z say work-life balance is an important aspect of a job, while 58% say they’ll work nights and weekends (CSP.edu)
- Identity- 48% of Gen Z identify as racially or ethnically diverse (Pew Research Center)
- Management Style- When it comes to interactions with their bosses, 40% of Gen Z want daily communication (CSP.edu)
- Lights on- More than half of Gen Z spend over 10 hours a day on an electronic device (CSP.edu)
- Society- Despite Gen Z’s connection to technology and social media, more people in the age group report feeling lonely than previous generations (Cigna U.S. Loneliness Index)
From the stats above, we can see how Gen Z continue to prove against the negative “entitlement” stereotype by demonstrating a major interest in learning.
This could mean that Gen Z are committed to life-long learning by taking courses, or feedback to better themselves. A positive knock- on effect is that all this acquired knowledge will be passed on to companies in a variety of ways. For example, with new ideas and insights that could make them more competitive.
After reading this article we hope that you have a more thorough understanding of the feel around Gen Z and how to use the information above to help tailor management styles and work place communication. Gone are the days of micro- management, only to be replaced with digital strategies and nurturing company cultures.