Is Your Company Ready for Generation Z?
According to a new survey, work-life balance is of primary concern to members of "Generation Z," the generation following on the heels of millennials.
Born between 1990 and 1999, those considered Generation Z want to drive to their jobs, head into their offices and meet face-to-face with colleagues before calling it a day and getting home with plenty of time to enjoy family and friends. By 2020, experts say more than 20 percent of the workforce will be comprised of Gen Z employees, the next generation to come after millennials. The survey was conducted by staff firm Robert Half and Enactus.
"Generation Z employees bring unique values, expectations and perspectives to their jobs," said Paul McDonald, senior executive director of Robert Half in a press release today. "They've grown up in economically turbulent times and many of their characteristics and motivations reflect that."
"Many Gen Z'ers have seen grandparents who have had to go back to work because they were stretched financially or parents who have had to dip into retirement or modify savings to make ends meet. This probably gave them a certain perspective and made them more pragmatic," said Billie Watkins, Robert Half district president.
Among the findings:
- 41 percent described midsize organizations as the ideal work environment, followed by large organizations. Only 14 percent cited start-ups;
- 45 percent of respondents prefer to work ina private office and face-to-face communications is the method of choice for 74 percent;
- 75 percent believe they will need to work harder compared to those in past generations to have a satisfying and fulfilling professional life;
- 28 percent cited balancing work and personal obligations as a top future career concern;
- Gen Z members expect to work for an average of four companies throughout their lifetimes;
- 32 percent believe they will be managing employees in a corporate environment within the next five years;
- One in three would like to retire by the age of 60, but only 17 percent believe it will be possible;
- Only three percent cited fancy job titles as a priority while 64 percent cited opportunity for career growth a career priority;
- Honesty and integrity was the top quality sought in a boss, followed by mentoring ability; and
- 45 percent cited potential challenges working with baby boomers, compared to 17 percent who anticipate difficulties with Gen X and five percent with millennials.
"This group of professionals has grown up with technology available to them around the clock and is accustomed to constant learning. Companies with a solid understanding of this generation's values and preferences will be well prepared to create work environments that attract a new generation of employees and maximize their potential," said Bev Graham, vice president of Enactus USA programs.