Add another layer to your #Business literacy. We at Serebral360° would love to know if the Forbes – Entrepreneurs article was helpful, leave a comment, like and share. Let’s dive in and discuss the information and put it to use to grow your business. #BusinessStrategy #ContentMarketing #WebDevelopment #BrandStrategy
Info@serebral360.com 762.333.1807 www.serebral360.com
Grap a copy of our NEW Business Stratgety Books #FFSS VOL1 and #FFSS VOL2
A new study says that 76% of Generation Z expects to be promoted at work within twelve months.
Here’s what you need to know.
Generation Z Study
InsideOut Development, a workplace coaching provider, released a study today of 1,000 members (ages 18-23) of Generation Z – those born between 1996 and 2010 – which shows their attitudes toward work, including for earnings, promotions and management opportunities.
Among the key findings, the research team found:
Gen Z has high expectations for pay and promotions
“Wait your turn” and “put in your time” may not register with Gen Z. According to the study, 76% of Gen Z members believe they should be promoted within a year of starting their first job. If that statistic is startling, 32% believe they deserve a promotion within the first six months of their first job.
Gen Z believes in Bachelor’s degrees
There are whispers in the media that the next generation may forgo college and join a tech startup or start their own company. According to the study, however, that’s not necessarily the case. About 80% of Gen Z believes that at least a bachelor’s degree is necessary to attain a dream job, while nearly 70% think they will need at least a bachelor’s degree to “maintain a comfortable lifestyle.”
Gen Z is concerned about student loans, career choices and being good enough.
Today, according to the latest student loan debt statistics, more than 44 million people collectively owe $1.5 trillion in student loan debt. Only 30% of Gen Z believes they can repay their student loans. Nearly 26% fear they’ll make the wrong career choice, while the same amount fear they may not be good enough at their first job.
Gen Z wants good managers and hopes to become managers
Gen Z is ambitious, with 60% interested in attaining management positions. More than 75% believe that a boss’s ability to coach is important, with about 25% believing that it’s the most important attribute. Nearly one in four would leave an organization due to a boss who leads through fear.
Gen Z is entrepreneurial
While members of Gen Z plan to work for multiple companies throughout their careers, they find themselves to be “entrepreneurially-minded.” While 72% of high school students want to start their own business one day, 61% plan to start a business directly after graduating from college.
Gen Z wants stability
When it comes to work priorities, 69% of Gen Z cares most about work-life balance, followed by compensation and benefits. Interestingly, Gen Z says they want stability more than a job about which they are passionate. Contrast this with Millennials, 88% of whom believe that success in life is defined by happiness
Given these attitudes and perspectives, among others, how should companies and leaders think about managing Gen Z?
Here are some potential approaches from the research team:
1. Create two-way communication and provide frequent feedback
Only 11% of Gen Z expects to receive feedback from their boss. To counter this perception, communication is central. That means providing feedback – both positive and constructive – to help build trust and loyalty. It doesn’t have to be a weekly formal review. Even a quick email or stopping by their desk can go a long way. Sincerity matters.
2. Promote entrepreneurial spirit
Many members of Gen Z think of Corporate America as “a backup plan.” One response is “their loss.” The other is to harness their creativity and entrepreneurial spirit. Show them opportunities to excel and create impact across the organization. Offer development programs to build their skill sets.
3. Motivate through empowerment, not through fear
The fastest path to employee attrition – for any generation – is to manage through fear.
4. Develop soft skills
Members of Gen Z aspire to be managers later in their careers. Help them early in their career by instilling in them soft skills like empathy so they can become better leaders.
5. Coach them
Despite their lofty ambitions, Gen Z members want to be coached. Show them, teach them, inspire them. When employees feel empowered, they are more willing to trust and cooperate.
March 13, 2019 at 08:53AM
Forbes – Entrepreneurs