Generation Z is financially focused
When it comes to work, Generation Z views their job as a means to an end. Unlike their Millennial counterparts who often need to love what they do, Gen Z understands that work is performed for financial reasons. They will readily accept employment that provides a steady income and necessary benefits even if it is not their dream job. It is not to say they would not prefer to enjoy what they do, but it is not a necessity for Gen Z. If the decision came down to doing something they love or getting a more substantial paycheck, the paycheck will most often prevail.This financial focus is a byproduct of watching their Generation X parents lose significant savings in a very short period of time during the market crash and recession of 2008. They witnessed how quickly the money can disappear, so financially driven actions lead much of what they do.
Generation Z is entrepreneurial
We regularly hear about rags to ric es stories that have resulted from the technology boom. Whether it is the notable rise of Steve Jobs and Bill Gates from toiling in their garages to accumulating limitless wealth, or the recurring stories of teenagers creating apps in their free time that make them overnight millionaires, Gen Z knows there is money to be made from good ideas. They are not afraid to chase those ideas and believe that they have what it takes to have similar successes. They are also keenly aware that everything they do not currently know is a simple click or two away, which makes the bold decision to be an entrepreneur less arduous and easier to swallow.
Generation Z enjoys other people
Sure, Gen Z likes face-to-face interaction, but it does not always have to take place in the same physical location. Regularly utilizing apps such as FaceTime or Skype, members of Gen Z will often have face to face conversations with thousands of miles separating the participants, utilizing technology of which they are so adept. The main difference between Gen Z and older generations is the reduced amount of eye contact employed. The younger generation was born with a device in their hands and are simply used to looking down. It is not meant to be a sign of disrespect or disinterest in the person speaking to them, although older generations may interpret their lack of eye contact as such.
Generation Z is competitive
This group is very focused and competitive in most areas of life. Not only do they want to get into the best schools and get the highest paying jobs, they want to win every debate and every sporting event. Competition constantly drives this group. Competition may be against others or within themselves. And, competition against the clock is a constant. They want what they want now! Patience is a lost art with Gen Z, knowing they have to act quickly to get what they want fearing someone else may beat them to the punch.
Generation Z prefers independence
A key differentiator between Gen Z and their Millennial counterparts is Gen Z s preference to work independently. Millennials are all about collaboration, but the competitive nature of Gen Z contributes to them wanting to control their own destiny and not rely on others for their own success. Workplaces who lowered cubicle walls and created open work areas for the Millennial workforce may want to rethink this strategy because it is typically not embraced by members of Gen Z.
Generation Z wants to be heard
Having access to so much information, Gen Z has strong opinions and wants them to be heard. This is especially true in the workplace, where they expect to be an equal contributor. Gen Z members believe their ideas are just as valuable as ideas from members of other generations. While they may lack experience that only comes with time, their ability to change on a dime, process information quickly and compete make them a voice to be heard in any organization.
Change is welcomed by Generation Z
With limitless information at their fingertips, Gen Z has a lot of knowledge and exposure to many different topics. With this breadth of knowledge, they constantly seek new ideas and experiences. They will change direction on a dime without a second thought, leaving some of the older generations shaking their heads trying to keep up. Unlike previous generations, this youthful group is actively engaged in political conversations despite many of them not yet being able to vote. Information is easier to find, making them experts on subjects very quickly. With this mentality, they tend to rally behind causes that resonate with them, often before they even take time to consider the other side.
Diversity does not even register with Generation Z
They have grown up in a diverse world and it is all they know. Neither race, sexual orientation nor religion are the identifying characteristics that they may have been for previous generations. People are just people to Gen Z. It doesn’t mean they will not judge, however. Gen Z is more likely to judge someone for what you are, rather than for who you are. With changing demographics happening in America, Gen Z will be the last generation where a majority of the population is white. Gay marriage and a black president is a way of life during this groups formidable years, making diversity the norm thus eliminating any need to focus on the subject specifically.
Generation Z is all about technology
From the time of their birth, the internet and cell phones were commonplace. Gen Z wants instant gratification and they know if that if they need information, it is easily accessible. Because being connected makes communication virtually limitless, it is not uncommon for members of Gen Z to have friends all over the world. For many, communicating with someone halfway around the world may be easier than communicating with older relatives at the dinner table during a holiday meal. While phones may be confused for an extra appendage on members of Gen Z, cell phones are used, first and foremost, for entertainment purposes. Members of this generation still prefer to have face to face human contact whenever possible, especially with people they know. Gen Z does a lot of research online and companies trying to reach this group would be well served to attract them through online means compared with old school methods of print, radio or television. They research companies online, and rely on user reviews to backup their gut instincts about a company before they actually do business with them.
Generation Z is sustainable
There are just seven short years left before the damage from climate change is irreversible. As found in a recent UNiDAYS survey, 93 percent of Gen Z believes brands have an obligation to take a stand on environmental issues. From developing company-wide environmental policies to making smart climate related investments, Gen Z wants to see actionable plans and measurable progress. Younger generations in the workforce increasingly are committed to making social and sustainable impacts, pushing companies hunting for talented employees to follow suit. Nearly half of millennials and Gen Z are more attracted to making a positive impact in society and communities than starting a family and having kids, according to Deloittes 2019 Millennials Survey. Last year around 70% of millennials said they prefer to work in a company with a strong sustainability agenda, according to a Fast Company survey. And about three quarters of them are even willing to take a smaller salary to work for an environmentally-responsible firm. These generations grew up in a different era, where they have much more exposure to climate change, says Wu Xuchao, Head of Energy and Sustainability Services, JLL South Asia. They possess greater awareness of issues critical to the planet and humankind, and are more willing to act on them compared to the past generations.
