IMPORTANT QUALITIES OF THE RISING GENERATION
Let’s start by differentiating between Millennials (also known as Generation Y) and Generation Z. Millennials are generally known as those born between the late 1970’s and late 1990’s. Generation Z is the demographic born after millennials and consists of those born between 1995 and later.
According to Huffington Post, “This generation makes up 25.9% of the United States population, the largest percentage, and contribute $44 billion to the American economy. By 2020, they will account for one-third of the U.S. population, certainly worth paying attention to”. Our Gen Z counterparts are not just an extension of Millennials. They were born and raised post 9-11, surrounded by a struggling economy and booming technology. They grew up with smart phones and touch screens while millennials grew up with gameboy and laptops.
The older end of the Gen Z group is around 20 years old, so it’s time to start anticipating their entrance into the workforce. According to a survey by Monster.com and an article posted by cnbc.com, these 3 characteristics are most important to Gen Z-ers and will help to define what Generation Z is ultimately known for:
1. "They Want Real Perks"
Gen Z is not going to buy into the free office keg and ability to wear jeans at work. They want real perks like a reasonable salary, health benefits and a respectable employer.
2. "They Want Work that has Meaning"
Monster’s study found that nearly 75% of Gen Z believes that “work should have greater meaning than just bringing home the bacon”. They want work that makes them feel fulfilled and like they are making a difference.
3. "They are Attracted to Entrepreneurship"
The ever-growing tech world has formed a generation of entrepreneurial-minded people and those classified as Gen Z would prefer to work in an independent environment. Millennialbranding.com shared that 72% of high school students want to start their own business someday and 61% percent expect to start a business right out of college.