Understanding Gen Z is critical to your company. By 2020, more than 20 per cent of the workforce will be Gen Z, say experts on young people in the workplace. For them, innovation is the way you do business.
Also known as Post-Millennials, the iGeneration, Founders, Plurals, or the Homeland Generation, Generation Z is the demographic cohort after the Millennials. Researchers typically use starting birth years that range from the mid-1990s to early 2000s, yet there is little consensus about ending birth years.
Gen Zers have been born into the crisis period of terrorism, the global recession and climate change. They are predicted to spend their young adult years in a time of economic and social renewal. They are also living in an era of changing household structures, and are the students of today and university graduates, employees and consumers of tomorrow.
Gen Zers are part of a generation that is global, social, visual and technological. They are the most connected, educated and sophisticated generation ever. They are the early adopters, the brand influencers, the social-media drivers, the pop-culture leaders. They comprise nearly 2 billion people globally, and they do not just represent the future: they are creating it.
In general, we can say that:
• They are more private: Perhaps it is because they watched their older siblings get in trouble from posting controversial content on social media, but younger teens do not want to be tracked. Apps like Snapchat have seen explosive growth in the last few years.
• They are purely entrepreneurial: Like Millennials, these students plan to be pioneers, not merely settlers in a career. Of current high-school students, 72% want to start their own business. They feel like hackers, not slackers.
Statistic: About 72 per cent of current high-schoolers want to own their own businesses, and 76 per cent hope they can turn their hobbies into full-time jobs.’ For the entire duration of the Generation Zers’ lives, the world has constantly asked them for feedback, response, creativity, and opinions. Generation Zers see great value in participating in activities with their whole person. Why would they not expect the same thing from their work?
• They are multi-taskers: According to almost every measurement so far, these Gen Z kids will take multi-tasking to a new level. They prefer to be on five screens at once, not two screens like Millennials. Get ready to communicate with them while they look around, not into your eyes.
• They are hyper-aware: Generation Z has communicated enough with marketing researchers and academics to reveal that they experience 4D Thinking. Because their minds are streaming in so many directions, they have become post-moderns who are hyper-aware of their surroundings.
• Technology-reliant: Gen Zers are addicted to technology. Gen Zers put technology in the same category as air and water. They cannot imagine living without tech innovation and being connected all the time.
Those leading creative Gen Zers must prepare to become hands-on, coaching-style managers who promote innovation while customising and calibrating their direction and feedback.
How innovation can help you conquer the new generations
FROM THE START:
Loyalty is no longer enough to both employers and the workforce
Aylin Olsun, managing partner of ASO Company
Diana Neves de Carvalho, Exago’s CEO