Generation Z: Preparing for Shifting Workplace Values

With the widespread distribution of the vaccine and the steady increase in local government proposal activity, the world is slowly emerging from the shock and devastation that the COVID-19 pandemic has wreaked on our economic, social, legal, and medical institutions for the past two years. As many businesses transition away from Zoom and business-on-top-sweat-pants-on-the-bottom, and into in-person meetings and formal business attire, many are reconsidering the pre-pandemic workplace cultures, which, for a long time, have been status quo. This reimagining of the workplace is especially true amongst Generation Z, who had just begun to enter the workforce when COVID-19 upended it. 

Defined as those born between 1996 and the early 2000s, Gen-Z will comprise 40% of the American work and consumer population by the end of 2021. Yet, their vision of the world, shaped by their experiences growing up through several international financial crises, the social media boom, and a global pandemic, is currently at odds with many workplace norms. To remain desirable to prospective employees and competitive in the industry, AEC employers must adjust accordingly. 

Generation Z is a highly motivated cohort, with 55% reporting feeling pressure to gain professional experience in high school and 75% saying they are more worried about getting a job and starting a career than they were about finding a soulmate. Gen Z is internally motivated to succeed, but the values they find important in the workplace are very different from those ascribed to prior generations. For example, the top three “must-haves” in a job for Gen Z are health insurance, a competitive salary, and a boss they respect. Further, 93% of Gen Z said that a company’s impact on society affects their decision to work there, 77% report that a company’s level of diversity affects their decision to work there, and 75% report wanting their work to have meaning (versus 70 percent of Millennials). 

Interestingly, unlike millennials, whose primary career value is to find meaning, Generation Z lives by the mantra of “surviving and thriving.” Generational researcher David Stillman describes this phenomenon, “[Gen Z] will not be looking for the same things…Millennials look[ed] for when they started. Millennials were all about finding meaning in their jobs and how best to make the world a better place. With Gen Z coming of age during the recession, they are putting money and job security at the top of the list. Sure, they want to make a difference, but surviving and thriving are more important. The cultures that can foster that are the ones that will win the war for talent with Gen Z.”

Given their unique position in history, the demands of Gen Z within their work and personal lives are dramatically different from any other cohort. This isn’t only a values-driven campaign; the data supports their philosophy. For example, studies have shown diversity in the workplace yields greater engagement, innovation, and productivity. 

To remain competitive with the fast-changing employee demographic, firms must: 

• Develop a robust learning & development program with a focus on diversity, equity, and inclusion. 
• Bolster mentorship opportunities by matching professionals in different generations and based on skillset. Cross-generational mentorship programs allow firms to leverage the expertise of Gen X, Gen Y, and Boomers to help mentor Gen Z into strong leaders. Further, employers can also set up an internal marketplace to match emerging professionals with leaders that heighten specific skill sets and knowledge transfers. 
• Hire for the person; not the role. Ahead of any hire, an employer should understand the intangible characteristics that will make a successful employee. 
• Create consistent & transparent shared mission, vision, and values. When a Firm has a clear, consistent mission and vision shared across the organization, employees feel they are united under a common goal, working together toward a greater idea. Click here to learn more about mission, vision, and values, how to create each one, and the importance of their implementation throughout an organization. 

For any company that wishes to remain competitive in an increasingly modern, diverse, and changing world, it is imperative that they assess their internal workplace customs, values and work towards aligning them with what the talent of the next generation demands.