5 Ways Gen Z will change the future of work
The oldest Gen Z members are already 25, meaning many of them have been in the workplace for quite some time. Zurich Insurance Group estimates that Gen Z will make up almost 30% of the workforce in only 3 years.
The way Gen Z approaches employment is going to alter the workplace forever and employers need to prepare for the future by adapting accordingly. The future impact on the economy and employment by this budding generation isn't set in stone, however, we can anticipate some workplace demands and trends from Gen Z with relative confidence.
Gen Zs are digital natives and this is going to have far-reaching effects on their viewpoints about employment. They know that most operations and processes can be conducted digitally and will require their workplaces to reflect that. A 2022 study conducted by TalentLMs shows that nearly 75% of Gen Zs would choose a job based on whether they can work from home and employers will need to make provision for this.
2) Work-life balance
Millennials introduced the focus on the importance of a good work-life balance and healthy boundaries but it's been solidified by Gen Z. They no longer see their job as their entire identity — it's just one part of who they are. Gen Z also expects employers to care more about their health, particularly mental health: over 80% of surveyed Gen Zs want "mental health days." Business leaders must re-examine their commitment to their employees' wellness.
BBC Worklife reports that Gen Z will likely change jobs up to 10 times by the time they're 35. They're the generation statistically most likely to quit a job due to low job satisfaction. A 2021 study conducted by Bankrate found that approximately 80% of Gen Z were actively job-hunting at any given time. Job-hopping is most often driven by low salaries or wages and feeling overworked. It's imperative that organization executives pay attention to employee experience to retain employees in this age cohort.
4) Career growth
Zoomers, as they're often referred to by their older counterparts, are looking for jobs that offer them the possibility of career advancement. They want to work in organizations that prioritize upskilling and professional development. LinkedIn's 2022 Workplace Learning Report found that over three-quarters of survey respondents believe continuous learning is essential in their careers. Employers will have an obligation to give these employees the opportunity to participate in skills improvement and move up through the ranks.
5) Diversity and sustainability
Members of Gen Z regard diversity, equity and inclusion (DEI) and environmental sustainability as prerequisites when looking for jobs. They care about organizational transparency and ethics, and they want their workplace to align with their morals and values. The TalentLMs survey found that close to 80% of the survey's participants cite a company's dedication to DEI determining factor in whether they'll apply for a job with it. Bosses will be required to demonstrate how their organizations support DEI and sustainability efforts.