Baby Boomers, Generation X, and Millennials, pay attention, a new generation is coming! Generation Z includes those born between 1995 and 2010, and this generation is just entering the workforce. They currently make up less than 10% of the workforce, but within the next decade, they will be responsible for over a third of economic output. This young future workforce differs significantly from previous generations. Even compared to the preceding Generation Y, the experiences in youth and schooling are vastly different. A time without constant connectivity and learning without access to the internet is unimaginable for the digital youth, aptly referred to as iGen in the US.
Entrepreneur Generation
I am part of this generation, and we are in the process of revolutionizing the world. Studies say we have more in common with peers on the other side of the globe than with our own grandparents. Global networking and the digital world, in which we have been immersed since school days, shape our perspective - even towards future employers. I myself became self-employed at 18, right after high school, and in surveys, over 40% of my age group regularly express interest in starting their own businesses and being their own boss. It is clear that established companies must adapt to our terms, or we will become their strongest competitors. It gets even worse: Our values and attitudes are contagious, influencing not only about 15 generations but also long-standing employees who will adopt a new life philosophy.
Our Expectations
But what are our conditions? I want to assert for my generation that there is more to life than just work and career. We no longer subordinate life to work - on the contrary: the workplace is a means to an end, enabling us to pursue our personal goals. For us, clear guidelines are more important than flexibility. Taking work into the weekend on a Friday is out of the question for us. While we may be reachable around the clock, this primarily applies to friends and family. We consciously switch off our work phones at the end of the day, just as we activate the out-of-office reply before vacation. We do what is required, the rest is not our problem. I know this may sound arrogant, but we have our reasons. From our perspective, loyalty to employers has shifted more towards companies showing loyalty to their employees. We are disillusioned because we have witnessed how companies treat their staff. When push comes to shove, employees are still seen as the biggest cost-cutting opportunity. Yes, we are shaped by our parents' shattered dreams, the financial crisis and its aftermath, and the knowledge that we will change jobs far more often than previous generations. While the average length of employment has remained constant at around 10 years for decades, employees under 30 were staying with a company a quarter longer in the early 80s than they do today. This trend hints at what will happen as my generation, which almost entirely rejects emotional attachment to companies, floods the job market.
Your Opportunity
At the same time, we have new role models, nearly same-age influencers and entrepreneurs who have succeeded as teenagers. It is clear that if we want, we can also succeed on our own terms. The only reason more of us haven't done so yet: only the first half of our generation is slowly finishing their education or studies, and we are not naive. We know that entrepreneurship is demanding and risky. So, we are open to opportunities for your business! We are the most formally educated generation. We do not want to overwork ourselves and can appreciate employment with clear guidelines. For those who manage to find the top talents among us and succeed in keeping us committed to their business long-term, we will be the game-changer - promised!
