What to Expect from Gen Z, the New Grads Entering the Workforce

WHAT TO EXPECT FROM GEN Z The New Grads Entering the Workforce in 2016 "Gen Z has a clear advantage over Gen Y because they appear to be more realistic instead of optimistic, are likely to be more career-minded, and can quickly adapt to new technology to work more effectively. Gen Z has seen how much Gen Y has struggled in the recession, they come to the workplace better prepared, less entitled and more equipped to succeed." DAN SCHAWBEL Managing Partner of Millennial Branding, a Gen Y research and consulting firm.* WHO ARE GEN Z? Generation Z (Gen Z) is the generation born between 1994 & 2010. The 1st wave of Gen Z will enter the workforce in 2016. They are jaded from the recession & suffer from student loans. They are even more entrepreneurial, loyal, flexible & realistic in their approach to careers compared to Millennials. They choose opportunities for growth & work-life balance over salary, when choosing what company to work. Like Millennials, they will seek mentors at the beginning of their careers. GEN Z & CAREER ASPIRATIONS O 1 in 3 want to become managers in the next 5 years. More than 3 in 4 believe they will need to work harder compared to past generations to have a satisfying & fulfilling professional life. O 1in 3 would like to retire by the age of 60. O Less than 1 in 5 actually think this is possible. GEN Z & TECHNOLOGY 2 in 3 say that technology makes them feel like anything is possible. Almost 4 in 5 display symptoms of emotional distress when kept away from their personal electronic devices. 9 in 10 would be upset if they had to give up their internet connection. They have 10* apps on their smartphones. 1 in 10 have 40+ appS. GEN Z AS EMPLOYEES MANAGEMENT COMMUNICATIONS PREFERENCES 51% In-person communication 16% Emailing 11% Instant messaging KEY TAKEAWAY Even though they are highly connected through technology, their 1st preference for communicating with their managers is in person. WORKPLACE MOTIVATIONS 34% Opportunities for advancement 27% More money 23%l Meaningful work KEY TAKEAWAY The number 1 way to motivate them is to show them a clear path to career progression. TEAMWORK & RELATING TO PEERS 45% Anticipate challenges working with Baby Boomers 17% Anticipate challenges working with Gen X 5% Anticipate challenges working with Millennials KEY TAKEAWAY Clashes in the workplace between Gen Z & Baby Boomers will become evident. Baby Boomers will be retiring in their masses over the next few years so this will naturally work itself out. GEN Z & WORKPLACE EXPECTATIONS 60% want to have an impact on the world with their jobs, compared to 39% of Millennials. 52% value honesty as the most important quality in good leadership. They expect to work for an average of 4 companies in their lifetimes. 41% want to work at midsize organisations as their ideal work environment. 38% want to work in large organisations. DID YOU KNOW? 60% say that a lot of money is a sign of success. GEN Z ATTITUDES TO EDUCATION & DEVELOPMENT O 50% will be university educated, compared to 33% of Millennials. O 64% consider earning an advanced degree as one of their life goals. O 60% say they like to share their knowledge with others online. O 33% watch lessons online to educate themselves. 89% say they spend part of their free time doing productive & creative activities. DID YOU KNOW? 26% are currently volunteering. GEN Z & ENTREPRENEURSHIP INTERESTS 62% would rather start their own companies than work for one. 3% currently run their own business. 71% expect to experience significant failure before achieving success. Almost 40% say they see failure as an opportunity to try again. 80% think they are more driven than their peers. DID YOU KNOW? 28% say balancing work & personal obligations is their top future career concern. *The expert quoted is not affiliated with the Brighton School of Business and Management. REFERENCES forbes.com/sites/danschawbel/2015/11/01/10-workplace-trends-for-2016/3/#12e192b825e8 danschawbelcom/blog/39-of-the-most-interesting-facts-about-generation-z millennialbranding.com/tag/gen-z Brighton School of Business and Management brightonsbm.com Online Distance Learning Courses