Generation Z, born between 1997 and 2012, accounts for 67.06 million people or 20.35% of the U.S. population (Statista). By 2030 this age group will make up about one-third of the nation’s workforce.
According to Financeonline.com, the most common stressors for this age group are money (81%), work (77%) and paying off student loans (66%).
While the impact of the pandemic on this group is still being surmised, early indicators suggest a deepening of the following trends.
- Technology is critical. Gen Z is the first generation to grow up from day one with smartphones and social media. They not only value technology more than any other age group, an astounding 91% say technology is a decisive factor in choosing a job (Truelist).
- Gen Z is also the most racially and ethnically diverse cohort. The U.S. Census Bureau projects that by 2026 the majority of this generation will be non-white. Gen Z individuals highly value diversity in their workplaces, with it having a major effect on employment decisions.
Health and well-being are central. Gen Z was already very health-focused before the pandemic hit, and now is even more so. Up to 42% of Gen Zers prioritize a good work-life balance over other job perks. Employers should consider creative ways to promote well-being and a healthy lifestyle in the type of working conditions, sick and vacation leave, and health benefits they offer.
- Authenticity and values are crucial. Gen Zers want to support, work for, and buy from organizations that align with their core beliefs. They expect their employer to be authentic in matching actions with rhetoric and public image. Individuals in this age group need to establish trust with an employer and steer away from work they see as exploitive or disingenuous.
- Gen Zers are purpose-driven. Most prioritize enjoying the work they do and making a difference over making money. Employers need to position Gen Z staff to be impactful through their careers.
- Connection is key, and not just electronically. Face-to-face interaction has become more important to this generation since the isolation of COVID lockdowns.
