Preparing Businesses For Generation Z

  Buckle up businesses and governments as a dramatic shift is coming.  Just when we could barely  understand or could monetize the millennials, generation Z is on its way. Since most of generation Z were born after 2000 their oldest members are turning 18 and will start entering the work force in large numbers in just a few years. 

  
To make it even more interesting Gen Z’s career attitudes are significantly different from the millennials who preceded them. This will completely change the way this future market will buy,work,live,play and date. I personally think the best in super efficiency is yet to come. 
  

Research firm Universum surveyed high school students and recent graduates in 46 countries. One big theme around the world: Members of Generation Z see themselves as entrepreneurial. In fact, 55% of 50,000 Gen Z-ers Universum polled said they’re interested in starting their own company. Why? They want to be their own boss and think starting a business is a great way to make an impact. 

   

 Even though Millennial generation is bigger, more diverse than boomers, Universum researchers have seen a gradual rise in entrepreneurial interest with each generation, and expect that trend to continue from millennials to Gen Z, says Katharine Lynn, Universum’s associate director of marketing and communications. The “growing pervasiveness of startups” like Facebook and Uber”. The increasing desire for independence are helping fueling that drive and interest which Inturn has increased a strong sense focus on their tech skills, which can be learned regardless of where you go to school or what you study. 
  

Gen Z’s independent streak is much stronger than millennials’, with 32% of Gen Z respondents saying autonomy is one of their most important career goals, compared to just 22% of Gen Y. Less essential for Gen Z? Work-life balance, cited by 40% of Gen Z-ers vs. 54% of millennials. And the intellectual challenge of a career is critical to just 19% of Gen Z compared to 32% of Gen Y. Meanwhile, only 27% say it’s important to feel they’re serving a greater good with their work, compared to 35% of their elders surveyed. Even though Millennials aren’t like the Gen X’s the rest of the subsequent generations will benifit greatly from their leapfrogging of technology, goods and services produced. Of course, Gen Z is still made up of mostly students and their relative inexperience may be their single biggest strength of not being influenced by current ways of being and thinking. Despite their zest for entrepreneurship, members of Gen Z are not terribly optimistic about their financial prospects as only 56% of Gen Z expects to have a better lifestyle than their parents, compared to 71% of millennials. I would predict that it would not be long when super efficient shared economies will be the norm spearheaded by the world of Generation Z’s. 

  
By Naved Jafry & Garson Silvers

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