With a staggering 250 million individuals born between 1997 and 2012, Generation Z is rapidly asserting its influence in current-day society. In fact, it won't be long before the number of full-time Gen Z employees surpasses that of baby boomers, marking a significant shift in workplace demographics. But how might the Gen Zers affect the future economy and workforce? Thanks to booming job markets and higher wages, Gen Z faces lower youth unemployment rates and greater financial prosperity compared to previous generations at this age. With more purchasing power, this generation will likely be driving innovation and pushing businesses to adapt, particularly in the digital economy, where their tech-savvy nature fuels growth in e-commerce, online services, and digital entertainment sectors. Moreover, Gen Z's economic empowerment is reshaping their approach to work, prioritising self-care, personal fulfilment, and leisure time over traditional career advancement. As such, organisations may need to reevaluate their structures and offerings to attract and retain talent from this generation. What changes do you think Gen Z will bring in the future? More information here: https://lnkd.in/gPwyeV3q #GenerationZ #FutureOfWork #Economy
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Co-Founder & CEO, Spring Planning | Family Enterprise Consultant, Trella Advisory Services | Board Chair, Financial Planning Association of Canada | Board Director & FEA Council Chair, Family Enterprise Canada
I’ve been talking about this demographic shift to just about anyone who might listen lately. As a just-barely-made-it Gen Xer I see this as a massive personal opportunity… but it’s a tough space for businesses to navigate through. To explain what this space looks like I often tell people about having 4 lockers in highschool, because there were more lockers than students, the comparatively simpler entrance requirements for university “back in my day”, and how the elder care homes will probably be empty when I get there. How are you thinking about the knowledge and experience gap between Boomers and Millennials that is not entirely filled by the smallest generation in history? https://lnkd.in/git5JVma
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Coach & Leadership Development Expert | Behavioral Science & Neuroscience | Empowering Human Potential & Wellness
Gen Z is growing up: In 2024, the generation born between 1996 to 2010 is expected to overtake Baby Boomers in the full-time workforce, according to a recent analysis by Glassdoor. Roberta Katz explains how their values and expectations will shape the future of work. However, I think that several of the traits associated to Gen Z are also valid for the generations born before 1996, meaning that substantial changes in the workplace are needed and employers should stay open to hearing about different ways to get things done.
8 ways Gen Z will change the workforce
https://news.stanford.edu/report
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Gen Z's growing numbers in the workforce, now outnumbering baby boomers, is a real generational shift, signaling a change in workplace demographics and dynamics. Their distinct desire for transparency and authenticity challenges current and past corporate cultures and calls for a more open and genuine approach to management. Lastly, their entrepreneurial mindset requires us to rethink our leadership strategies to foster modernization and accommodate their different approach to career development and success. Have a read with this article, it’s packed with some good information and shows that sometimes history does repeat itself. Cheers!
Gen Zers are puzzling the American workplace. To understand them, look at the pre-war generation, not millennials
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Registered Apprenticeship national Expert, Retired US Naval Officer, Retired Federal and State Government official.
Today, older millennials (born between 1981 and 1991) and Gen-Xers (born between 1965 and 1980) find themselves caught in the middle, facing ageism from both sides of the generational spectrum. One of the primary challenges faced by this middle generation is the perception of being 'too old' for certain roles or promotions, coupled with the stereotype of being less adaptable to change. This stereotype overlooks their extensive professional experience and commitment to continuous learning. Moreover, the prevalence of youth-centric cultures in many workplaces exacerbates these biases.
Is gen X the new baby boomer? Navigating mid-career ageism in the workplace
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Professor of Business @ Keiser University | Business Development, Risk Management, Award-winning professor.
Gen Z will revolutionize the world and lead the next economy. noted : Gen Z is growing up: In 2024, the generation born between 1996 to 2010 is expected to overtake Baby Boomers in the full-time workforce, according to a recent analysis by Glassdoor. #world #economy #centralamerica #latam #babyboomers #management #generations #workforce #usa
8 ways Gen Z will change the workforce
https://news.stanford.edu/report
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... interesting from The Economist... they almost got the age ranges correct :) I do not know if they properly normalised the wealth numbers... "Generation Z is unprecedentedly rich. Millennials were poorer at this stage in their lives. So were baby-boomers. Generation z is taking over. In the rich world there are at least 250m people born between 1997 and 2012. About half are now in a job. In the average American workplace, the number of Gen Z-ers (sometimes also known as “Zoomers”) working full-time is about to surpass the number of full-time baby-boomers, those born from 1945 to 1964, whose careers are winding down (see chart 1). As the generation becomes more influential, companies, governments and investors need to understand it.
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Ageism is becoming a problem in the U.S. workforce. Elder millennials, Gen X, and boomer employees all say they’re experiencing serious discrimination issues, and it’s hurting their morale. About 90% of U.S. workers aged 40 or older say they have experienced ageism in the workplace, according to a new report from job platform Resume Now. The most glaring example is compensation—nearly half of these older workers report earning less than their younger colleagues, according to the study. And the same proportion of respondents, about 49%, say they make less money than Gen Z and younger millennial workers for doing the same job. Read more: bit.ly/4dH5HvO
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In 2024, Generation Z is set to outnumber Baby Boomers in the workforce and will make up 75% of working individuals. With this generational shift comes a distinct set of values, preferences, and aspirations. Over the past 10 years, a continuous focus in the people and culture space has been navigating and managing the unique expectations related to culture and work life held by these workforce members. These expectations often include an interest in achieving a better work/life harmony, a continuous pursuit of education and upskilling, and a heightened emphasis on crucial aspects such as diversity, inclusion, sustainability, and community involvement of the organization. What are the changes you are focusing on as Gen Z becomes such a large portion of our workforce?
Gen Z to overtake boomers in the workforce for 1st time in 2024
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CEO at Sharp Reflections | Data Analyst | Entrepreneur | Business Innovator | Earth Scientist | Where Business and Science converge
By 2024, Gen Z will outnumber Baby Boomers in the full-time workforce. Roberta Katz’s research, conducted with a team at Stanford’s CASBS, explores how this shift will reshape workplaces. The extensive study reveals that Gen Z brings distinct values and expectations to their jobs, influencing how companies must adapt to meet their needs and preferences. If you are curious about matters to Gen Z and why , read excerpts from Katz' interview in StanfordReport. Discover how here: #GenZ #FutureOfWork #WorkplaceTrends
8 ways Gen Z will change the workforce
news.stanford.edu
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The Changing Workforce: Gen Z and Millennials on the Rise 1. Demographic Shift: Gen Z is set to surpass Baby Boomers in the full-time workforce. Millennials will dominate the labor market for years. 2. Key Needs of Younger Workers: Employers and policymakers must address younger workers' needs. On World Youth Skills Day, focus on barriers to youth employment and how HR can help. 3. Barriers to Youth Employment: Disconnect between younger workers' priorities and older decision-makers' policies. Misunderstanding of younger workers' values and preferences. 4. Flexibility as a Top Priority: 72% of Gen Z left roles due to lack of flexibility (69% Millennials, 53% Gen X, 59% Boomers). 25% of 18-24-year-olds work multiple jobs for flexibility (16% across other age groups). 5. Diverse Work Forms: Employers need to offer diverse work forms. 28% of young workers with multiple jobs do so for variety. Money drives Gen Z and Millennials to second jobs, but also hobbies, focus change, and networking. 6. Training and Development: Opportunities to meet young people's desire for self-development. 7. Education-Workplace Gap: Soft skills often underdeveloped in young workers. 8. Effective Employment Programs: Programs include soft skills training, certification, and youth entrepreneurship. These programs provide skills, work experience, and financial support. 9. Policy and Legal Frameworks: Employers need flexible legal frameworks to support younger workers. Policymakers should create rules that accommodate flexible job markets. Addressing the unique needs of Gen Z and Millennials is crucial. Employers and policymakers must adapt to create a dynamic, flexible job market that supports the younger generation. #MajhiGroup #WorldYoungSkillsDay
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