Watch Out Corporate America, Here Comes Generation Z!

The Millennials are so yesterday.

Generation Z, which includes those individuals born between 1996 and 2015, have started to enter the workforce. Gen Z makes up about 25% of the U.S. population, more than Baby Boomers or Millennials.

According to Wikipedia, “a significant aspect of this generation is the widespread usage of the Internet from a young age; members of Generation Z are typically thought of as being comfortable with technology, and interacting on social media websites for a significant portion of their socializing.”

But that is not their only defining trait.  A Wall Street Journal article shares the results of two large surveys of this large demographic.

Here are some of the highlights from a survey conducted by IEY at the International Intern Leadership Conference, the business consultancy’s annual gathering of interns.

  • Gen Z places a priority on building something better and leaving something better for future generations.
  • They want to have a purpose in their work.
  • More than three-quarters of those surveyed said their ability to work well with people from different backgrounds and cultures set them apart from older workers.
  • Generation Z is excited about artificial intelligence and robotics, with three-quarters of respondents saying they think new technology will spur an evolution of human work. Two-thirds think it will increase their productivity, and more than half think it will allow them to focus on more valuable work.
  • 27% of respondents assign priority to devoting time to their communities when looking for an employer, suggesting that employers provide these young workers with the opportunity to give back to their communities and use their skills in a philanthropic way.
 Goldman Sachs Group Inc. surveyed 1,700 of its summer interns and found:
  • the vast majority planned to get married or form domestic partnerships and have children.
  • Some 83% also expected to buy a house by the time they were 40 and
  • 63% planned to buy a car by age 30.

The survey results do not surprise me. Based on my daily interactions with Generation Z, they seem to be a group of individuals who are ambitious, who want to make a difference, and who want to have balance in their lives.

And if my students are any indication, we have a bright future ahead of us.

*image courtesy of Voices of Youth

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Jim Borden

Accounting Prof. at Villanova; happily married for 30+ years; father of 3 outstanding young men; vegan; interests: fitness, creativity, education, blogging, social media.

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