Generation Z captures job market

For years, companies have been trying to engage millennials as the stereotype in the job market with Xbox and installed rock climbing walls to boost productivity. However, Generation Z who are known to be the “first true digital nomads” may differ from their predecessors and overrun the job market.

Growing up in the constant technology connectivity, sixty (60) million of Gen Zers are starting to come in the workforce. According to Monster’s survey, seventy-seven percent (77%) from five hundred (500) respondents age fifteen (15) to twenty (20) claims to be still in school. 

Over the next five years, Gen Zers will be taking in most full-time jobs in the market. With their high-tech upbringing, employers expect that Gen Z will bring a new set of work preferences. The question is: should employers be worried?

Generation Z’s work habits

Surprisingly, Generation Z ranked salary as the best motivator in the workplace, according to Monster. While health insurance was described as the “must-have” by seventy percent (70%).

As the student debt skyrockets, the evident priority of Gen Z is financial security and being practical. The survey also revealed that seventy-six percent (76%) of Gen Zers zero in on driving career advancement and another fifty-eight percent (58%) confirmed they are willing to work at nights and weekends for a higher payout.

However, salary isn’t the only thing that pushes them to work hard. Work purpose shows that it matters more than a paycheck at seventy-four percent (74%). When it compares to predecessors, it resonates to seventy percent (70%), sixty-six percent (66%), and sixty-seven percent (67%) respectively for Millenials, Gen X, and Boomers survey respondents.

Almost half of Gen Z ranging to forty-two percent (42%) have confirmed that they are ready to quit and start their own business if they feel they don’t belong to the company’s mission. The number is ten (10) points higher than all the prior groups. 

Challenges confronting Generation Z

While the gig economy and remote work became increasingly common in today’s job market, Gen Z is constantly getting challenged on going to college to pursue a career path. According to Forbes, seventy-five percent (75%) are considering taking education alternatives for credentials than going to college.

According to 2019 Ellucian report conducted by Wakefield Research, ninety-seven percent (97%) of US recruiters place more importance to a candidate having credentials than the one without. 

Across from different workforce generations, the survey concluded that almost half of students claim that credentials are needed to meet their career goals.

The report also revealed that forty-five percent (45%) students and thirty-nine percent (39%) recruiters both agreed that after completion of an educational program, two (2) years on average should be taken for further attainment of credentials to stay relevant for the chosen work field.

As the first wave of Generation Z coming in to flood the job market, the majority rate of employees will soon belong to this–and believe it or not, the play is about grabbing the Gen Zers attention for them to work hard and stay in the workplace. 

Since the upcoming generation is tech-savvy, more ambitious and smartphone-addicted, the job market evolves in response to the demand curve of the work-life expectations and balance of Gen Z.