Generation Z is the next generation poised to enter the workforce.
Born after 1998, Generation Z has never known a Google-free world. Since many of Generation Z are likely to forgo college, employers will be faced with understanding and integrating this next generation sooner than expected.
Growing up during the most accelerated and game-changing periods of technological advancements in history has imprinted Generation Z with new expectations of career, work, and success.
What's influencing the career aspirations of Generation Z? Parents and the economy.
Ninety-four percent of Generation Z say that parents or guardians are at least minimally involved in their career decisions, with 33 percent saying they are very involved.
Generation Z's interest in launching a business or nonprofit venture actually dropped slightly from 35 percent in 2017 to 32 percent in 2018 and those who were "not sure" rose from 38 percent to 41 percent in the same timeframe. In addition, for the first time in years, there is an uptick in the number of U.S. college graduates wanting to work for large companies, with a 37 percent increase over last year.
Uncertainty about economic stability is influencing the career choices of Generation Z.
Generation Z is interested in making a career in medicine or a health-related field as 40 percent of the top ten companies Generation Z want to work for are in this field.
Generation Z's Top 5 Expected Career Paths
- Medicine / Health-related (39 percent)
- Sciences (20 percent)
- Biology/Biotechnology (18 percent)
- Business/Corporate (17 percent)
- Arts (15 percent)
What is Generation Z looking for in a potential employer? Travel and development opportunities.
Three of the five most important work aspects Generation Z looks for in a potential employer surround development (promotion, professional development, and acquiring new skills) and the remaining aspects involve traveling.
Generation Z's Most Important Employer Aspects
- International experience (e.g., travel and working with global clients /colleagues)
- Pathways to promotion
- Professional development opportunities
- Travel for work within the U.S.
- Gaining skills to advance my career
As for a potential employer's benefits and compensation, Generation Z ranks the benefit of flexible work over medical benefits. (Read this to learn more about the employee benefits of work-life balance.)
Generation Z's Most Important Employer Benefits and Compensation Aspects
- Performance benefits
- Base salary
- Other benefits (e.g., vacation, flexible work schedule, location)
- Basic benefits (e.g., medical, dental, and vision)
- Parental leave policies
Employers that can integrate these aspects stand the best chance of attracting and retaining Generation Z talent.