“Companies with a solid understanding of [Generation Z’s] values and preferences will be well-prepared to create work environments that attract a new generation of employees and maximize their potential.” ~Bev Graham, Vice President of Enactus USA Programs.
According to the recent Get Ready For Generation Z Study by staffing company Robert Half and Enactus, a student-focused nonprofit that encourages entrepreneurship, Generation Z will make up 20% of the total workforce by 2020. The statistics below are from the study which surveyed 770 individuals born between 1990 and 1999.
While I believe this to overlap the age range of Millennials (typically defined as those born in the 80s and 90s), employers and leaders can still benefit from the insights as they begin to prepare to work alongside a new generation of professionals. Prepare for Generation Z in the workplace.
Generation Z’s Workplace Expectations
1) 77% of Generation Z believe they’ll need to work harder than older generations to have a fulfilling professional life.
2) $46,799 is the mean salary expectation per year for Generation Z's first year out of college.
3) Five years after college Generation Z would like to be entrepreneurs (20%), working their way up the corporate ladder (24%), and/or managing employees (32%).
4) Four is the average number of organizations Generation Z expects to work for throughout their career.
5) Generation Z’s workplace priorities are: career growth (64%), an honest boss (38%), and the ability to mentor someone (21%).
6) 41% of Generation Z described midsize organizations as the ideal work environment, followed by large organizations (38%), and only 14% cited start-ups.
Generation Z’s Career Attitudes
7) 82% of Generation Z say their parents will help influence their career decisions.
8) 30% of Generation Z would take a 10-20% pay cut to work for a company with a mission they care deeply about.
9) Top 3 Generation Z job search priorities are: growth opportunities, generous pay, and making a positive impact.
10) 83% of Generation Z doubt that retirement by age 60 is possible.
11) 54% of Generation Z expect to work until their 61-70 years old.
12) 3% of Generation Z considers an impressive job title a priority.
13) 32% of Generation Z believes they will be managing employees in a corporate environment within the next 5 years.
14) 28% of Generation Z view balancing work and personal obligations as their top career concern, followed by making enough money (26%), and finding a stable job (23%).
Working With Generation Z
15) 45% of Generation Z anticipate potential challenges working with Baby Boomers, 17% with Generation X, and 5% with Millennials.
16) 52% of Generation Z believe it will be easy to work with Generation X.
17) 27% of Generation Z believe it will be easy to work with Baby Boomers.
18) Generation Z’s ideal work environment is collaborating with a small group in an office setting.
19) Generation Z’s least ideal work environment is working off-site as part of a virtual team.
20) 74% of Generation Z prefer to communicate face-to-face with colleagues.
21) 45% of Generation Z prefer to work in a private office.
22) Generation Z values the following qualities in a manager: honesty/integrity (38%) and mentoring ability (22%).
Question: Which Generation Z statistics did you find most insightful?