Gen Z are not 'coddled. ' They are highly collaborative, self-reliant and pragmatic, according to new Stanford-affiliated research. Generation Z, the first generation never to know the world without the internet, value diversity and finding their own unique identities, says Stanford scholar Roberta Katz.
But Gen Zers are different from older generations, because they are the first consumers to have grown up wholly in the digital era. They're tech-savvy and mobile-first—and they have high standards for how they spend their time online.
Millennials are often more optimistic, with a highly entrepreneurial and inventive mindset when it comes to decision-making. In direct contrast, Gen Z individuals are more risk-averse and cautious because they witnessed and read about the instability millennials experienced.
They're impulsive. Another weakness of Gen Z is that they can be quite impulsive. With instant gratification being so easily accessible, this generation has difficulty waiting for anything. They want what they want and they want it now!
Gen Z also faces an unprecedented behavioral health crisis: US Gen Zers surveyed by McKinsey report the least positive outlook and the highest prevalence of mental illness of any generation, and European respondents report struggling with self-stigma.
You'll find that they are quite different from the previous generations. Gen Z prioritises positive relationships, work-life balance, schedule flexibility, and job stability. 90% of them want human interaction at work and direct communication from their co-workers.
Gen Z is known for being resourceful, independent learners who value diversity and inclusive culture and place a priority on well-being and mental health in the workplace. They are fiscally conservative with a keen focus on investing and income. Gen Z values justice and equity.
Some reports indicate that the competitive nature of Gen-Z means they are more interested in working independently. After all, they were raised by highly independent Gen-Xers, so today's youths are used to doing things on their own. However, other reports call Generation Z more collaborative than Millennials.
Gen Z: Gen Z is the newest generation, born between 1997 and 2012. They are currently between 9 and 24 years old (nearly 68 million in the U.S.) Gen A: Generation Alpha starts with children born in 2012 and will continue at least through 2025, maybe later (approximately 48 million people in the U.S.)
Unlike the previous generation who had fought for "changing the system," the Silent Generation was about "working within the system." They did this by keeping their heads down and working hard, thus earning themselves the "silent" label. Their attitudes leaned toward not being risk-takers and playing it safe.
And it looks like Gen Z is indeed shaping up to be a homebody generation as well: Looking at their favorite activities by age, 13-18-year-olds are the most likely to say they “go out with friends” for fun in an average night, but playing video or mobile tops their list, followed by watching TV or movies.
83% of Gen Z workers affirm that workplace diversity matters and around 33% declare they wouldn't apply for a job in a company where diversity is not considered. Diversity, equity, and inclusion of all communities are core values for this demographic group.
Digital communication
Nearly half of Generation Z spends a whopping 10 hours a day online. The rest spend at least 1 hour connected online daily. Digital communication – especially on mobile devices – is central to how Gen Z communicates. Interestingly, Generation Z is big on emails too.
Despite stereotypes endorsed by older generations, millennials are one of the hardest working generations. Over a quarter of them work 2 or more jobs. The number of weekly working hours is also astonishing for this generation, with 73% working more than 40 hours per week, and almost 25% working more than 50 hours.
It's little wonder why: Gen Z are more likely than other generations to report that the pay they receive for their work does not afford them a good quality of life (26% compared to 20%), and 77% of them are in search of a new job (nearly double the rate of other respondents), per a McKinsey & Company report.
Unlike previous generations, Gen Z has little to no memory of a world without the internet, smartphones, and social media. Technology is a substantial part of their life. Being continually connected can also result in self-esteem issues and feeling pressure to conform.
Managers said they struggle with Generation Z workers for other reasons: Lack of motivation. Lack of productivity. Poor communication skills. Short attention span.
Members of Generation Z report higher rates of depression and a number of other mental health conditions than do generations before them. At the same time, they are more likely than previous generations to report these problems, positioning those who seek help in a place to receive it.
Students fear a lack of finances and fulfilment
The greatest fears for Generation Z centre on not achieving their hopes and dreams for the future.
According to Finder's Consumer Confidence Index, Gen Z saves an average of $857 per month, while millennials save $294. Gen Z also has an average of $10,062 in savings compared to $7,165 for millennials.