The Future of the Workplace: 10 Great Things About Generation Z
Make way for Generation Z, the next great population wave. Born after 1996,1 the oldest members of this generation are the new kids on the block, bringing their abilities and perspectives into the global workplace.
If you’re an established business leader, or earning a business administration degree to become one, you’ll want to know more about this emerging talent pool. The research so far tells us that members of Generation Z are:
Generation Z is the most racially and ethnically diverse demographic group yet. According to the Pew Research Center: “Generation Z represents the leading edge of the country’s changing racial and ethnic makeup. A bare majority (52%) are non-Hispanic white—significantly smaller than the share of millennials who were non-Hispanic white in 2002 (61%). One in four Gen Zers are Hispanic, 14% are Black, 6% are Asian, and 5% are some other race or two or more races.”1
Gen Z, representing 20% of the U.S. population,2 is “on track to be the best-educated generation yet,” the Pew Research Center says. A study of the older cohort of Generation Z shows they are more likely to finish high school and go to college than previous generations.1 “Gen Z considers a traditional four-year college education more important than ever before,” according to research from Deloitte and the Network of Executive Women (NEW).3
Gen Zers weren’t born with smartphones in their hands, but most members of the generation were born into the device’s ubiquity. “The iPhone launched in 2007, when the oldest Gen Zers were 10. By the time they were in their teens, the primary means by which young Americans connected with the web was through mobile devices, Wi-Fi, and high-bandwidth cellular service. As millennials came of age, they adapted to social media, constant connectivity, and on-demand entertainment and communication. But for those born after 1996, these are all largely assumed,” says Michael Dimock, president of the Pew Research Center.4
While many of their millennial counterparts enjoy working in teams, Generation Z members prefer tackling tasks independently, according to the Deloitte and NEW research. But they’re not loners. “They prefer independence but not isolation,” the study concludes.3
Generation Z weighs a company’s commitment to social change when choosing who they’ll buy from, and work for. In the Deloitte and NEW survey, 77% of respondents said it’s important to work for a company with values similar to theirs. “To win the hearts of Gen Z, companies and employers will need to highlight their efforts to be good global citizens.”3
Some see Gen Zers as multitaskers. But David Stillman, co-author with his son, Jonah, of Gen Z @ Work, disagrees. “Gen Zers are actually not good at doing a lot of things at one time as multitasking suggests—what they are good at is task switching,” he writes on his website. “This generation can go from task to task at lightning speed.”5
Members of Generation Z are banking their money at higher rates than those who have come before—and they’re starting earlier. That’s according to the Center for Generational Kinetics (CGK): “12% of Gen Z workers have initiated their retirement savings, while 35% plan to begin saving in their 20s. These are people that are 23 years old and younger, and they’re already saving for retirement.” CGK says retirement savings plans, with an employer match, are a big plus for career-minded Zers.6
Influencers, vloggers, business-launchers … A nationally representative Gallup Student Poll found Generation Zers have an entrepreneurial bent. “Nearly 8 in 10 students (77%) in grades 5 through 12 say they want to be their own boss, 45% say they plan to start their own business, and 42% say they will invent something that changes the world.”7
In the same Gallup poll, 91% of the students surveyed said they will take risks, “even if failure is a possibility.” And 85% said they never give up.7 “Ready or not—Zs have learned to be strategic, innovative, and competitive. They aren’t afraid to speak up or fail,” reports XYZ University in Ready or Not, Here Comes Z.8
If you’re a business manager working with members of Generation Z, you’re making your own discoveries about individuals’ traits and talents. “Surveys of today’s Gen Zers are not a crystal ball, with firm predictions of future views,” says Kim Parker, Pew’s director of social trends research. “But they offer a window in which to look at where the nation is headed. That’s what’s so exciting about starting to learn about this new generation.”4
Lead Through the Generations With an MBA degree
Earning an online business degree can help you become a strategic and inspiring leader in today’s rapidly changing business world. Walden University, a leader in distance learning for 50 years, offers an online Master of Business Administration (MBA) degree program that can help you meet your career goals.
Walden’s Master of Business Administration degree program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP), which means your coursework is focused on delivering today’s most in-demand skills.
You can build and hone your abilities by choosing Walden’s General Program or one of four optional specializations that lets you tailor your MBA degree to your professional objectives. Choose from Human Resource Management, Healthcare Management, and Project Management. Or for an even finer focus, choose the Self-Designed specialization.
Walden designs its online MBA degree program for working professionals who want to learn and work at the same time. You can log in to your coursework when it’s convenient for you. And as you move through your online MBA degree program, you can apply what you’re learning in your current position, adding value to any organization. With an MBA degree, you’ll be ready to meet today’s challenges and reap the rewards.
Walden University is an accredited institution offering an online Master of Business Administration (MBA) degree program with multiple specializations. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.
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