13 Ways Generation Z Will Impact the Future Workforce
13 Ways Generation Z Will Impact the Future Workforce
Almost everything relating to workplace cultures has been focused on millennials, but now that generation Z has started joining the labor force, things are about to change. Consisting of those born between 1995 and 2010, it is only a matter of time before the entire workforce becomes a millennials-generation Z affair. And just like millennials instigated labor market reworks and overhauls, generation Z will likewise present its unique challenges. Below are 13 ways generation Z will impact the workforce.
The rise of security of tenure
Having grown surrounded by various uncertainties, including but not limited to terrorist attacks, the 2008 recession, and hard economic times in general, generation Z will look for increased job security – much like generation X. As a result, the labor market will evolve accordingly by offering increased security of tenure, probably based on given performance parameters.
Money and benefits
Increased job security when it is a poor job in question does not mean much; and as a consequence, employers will have to make job packages more lucrative to attract and retain top generation Z talent. In this respect, generation Z and millennials are similar as both are interested in high incomes and benefits.
Generation Z is likely to be significantly more focused on the materialistic trappings of a job compared to millennials who are more driven by a sense of purpose and contributing to the greater good. This is both good and bad news for employers. Good because it will make it easy to hold generation Z’s talent pool by increasing the salaries, and bad because it will increase the cost of labor.
Millennials are a teamwork generation, but generation Z are the direct opposite. As an individualistic cohort, they prefer a solo approach – a trait that is attributable to the competitiveness driven by online interaction – social media in particular, where they try to outdo each other by exhibiting affluence and means. This competitiveness will doubtlessly carry over into the workforce.
Willingness to work hard
Generation Z, thanks to primarily being the children of generation X, have seen their parents work extra hard to keep food on the table and to thrive. In this view, they appreciate the role of hard work, but the catch is that they expect to be paid for their unquestionable commitment to any cause.
The search for independence
Generation Z is projected to chase fervently after financial freedom. As a result, they are more likely to tend towards amassing wealth like baby boomers to cultivate autonomy. Generation Z’s inclination towards independence will also inspire an increase in the popularity of freelancing so that they can get more flexibility to tinker with their work-life balance.
The culture of impatience
It is a widely known fact that millennials are impatient, but generation Z are worse in this respect. They have grown in an age where they can access anything they want, when they want, and how they want it, and obviously, they will carry this character trait into the workplace. This will translate into a likelihood to avoid projects with long-term benefits in favor of those that offer immediate gratification.
Having grown in a society where everything is competing for their attention, multitasking comes naturally to generation Z. However, depending on the job in question, multitasking can be a blessing or a curse, and this is something employers will have to contend with.
More numbers oriented
Individualistic persons usually judge their performance using numerical terms, holding themselves accountable to very well defined goals. Generation Z’s preference of a solo approach is, therefore, an accurate predictor that they will be a target oriented, numbers driven generation with very clear definitions of success in the workplace.
A hazy work-life boundary
In a society where one is always connected, generation Z may find it hard to maintain a healthy work-home boundary. They will be more inclined to reply to work mails during personal time and sneak work into typical home hours to address pressing work issues. This will be further enhanced by their predicted preference for freelancing and working on self-determined terms.
They will get more done
Courtesy of their inability to separate personal and work time in a definitive manner, generation Z will tend to get more done. This is an attribute they share with millennials, the two generations being heavily influenced by tech and the always-connected global village phenomenon.
They expect to be catered to
Like millennials, generation Z has an elevated sense of entitlement, and they will expect that the workplace adapts to them instead of the other way round. Companies that miss the memo will contend with a high employee turnover and an inability to hold onto their best personnel.
A penchant for entrepreneurship
Like millennials, many of generations Z’s role models are successful entrepreneurs, and in surveys, a significant chunk of generation Z voiced their desire to venture into business. In this regard, they will drive forward the entrepreneurship trend especially now that there exists a small margin between thriving upstarts and brands of old.
The good news is that generation Z and millennials are alike in many respects. This means that forging a work environment that can accommodate these two generations while maximizing output will be easier than has been creating an environment that is conducive for both millennials and generation X.
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