Millennials and Gen Z in the Workforce
Society is just beginning to see the effects of the internet in everyday life. As a whole, we expect products, service, and communication immediately if not close to it. Millennials were the first generation to have the internet, and Gen Z has never lived without it. Here’s what that and other factors mean for them in the workforce.
Millennials like teamwork and want their work to serve a higher purpose. If they are working for what they see as “just a job,” they’ll promptly move on. Gen Z is different in that regard. The great recession influenced them, so they are less optimistic than Millennials. Therefore, their priority is stability. If you can offer them a steady paycheck, and excellent benefits, they will be happy. Both generations, however, like constant feedback and like to advance quickly. Eyal Gutentag recommends structuring your business for continuous change and growth to keep younger workers.
As Business Owners
Millennials would do best to start a non-profit because the profits go to furthering a cause, and the work they do directly impacts the world for the better. Young adults from Gen Z may have less risk tolerance which is necessary to be an entrepreneur, due to their need for stability. If they do choose to start a business, it’s their strong individuality and competitive nature that is going to drive them.
Freelancing is an excellent opportunity for Millennials to work directly for companies and people they support. Job boards like Flexjobs have filters for award-winning companies, or flexible or remote work, which appeal to the Millennial’s desire for work-life balance. Gen Z loves to work alone. Freelance work offers them just that, and they can advance as quickly as they like.
The standards and tech-savviness that each of these generations has are the future of the workforce.