We are now entering a corporate era where Millennials and Gen Z make up most of the workforce. And in the next decade, that figure is set to shoot up to 58 percent, making the youthful generations the most dominant in the workplace. As these young professionals would put it, “They have entered the chat…”
Millennials have been dominating the global market for quite a while now. While this generation comes with many stereotypes, they have proven themselves as forward-thinking innovators and digital entrepreneurs. Millennials are perceived as ambitious and driven by high achievement – they are willing to push through the boundaries for the sake of breakthrough.
Gen Z grew up integrating technology with their everyday routine – digital activities come naturally to them. In the workplace, Gen Z are known to value work-life balance and personal interests over anything else. “If given the choice of accepting a better-paying but boring job versus work that was more interesting but didn’t pay as well, Gen Z was fairly evenly split over the choice.”, an article from Deloitte says.
What can they bring to the table?
Currently, four demographic cohorts make up the global workforce: Baby-boomers, Generation X, Millennials, and the youngest group, Gen Z. And while the Baby-boomers and Generation X have already made their mark in the system, Millennials and Gen Z are already shaking the business world as we know it.
Digital Natives
Millennials witnessed the world go from a dial-up connection to using 100MBPS bandwidth speed, and Gen Z grew up with advanced technology available at their expense. Organizations adapting to new technology-driven practices and establishing a technology-centric operation is the future of work. And as automation, machine learning, and artificial intelligence are becoming commonplace in the workplace, companies need digital natives that are comfortable in collecting and analyzing data rooted from digital initiatives – a role fit for the modern upbringing Millennials and Gen Z have been attuned to. Digital natives push technology as a catalyst for positive change, and in an increasingly digital global market, their “out with old and in with the new” mentality will shift the focus to a more modern and efficient way of working.
Advocates of Learning
The new generation of talent values personal and professional mastery over monetary equivalence – a work that matches their interest is often motivation enough for Millennials and Gen Z. According to a Gallup report, 59% of Millennials said they viewed opportunities to learn and grow as extremely important when applying for a job. Gen Z are not far off in aligning their priorities – they are on the move to shake the world. This generation is continuously challenging the traditional, developing new skills while utilizing their current ones, and creating opportunities where they can truly grow. Millennials and Gen Z’s core behaviors are all anchored in one element: the desire to learn – and learn for the better.
Flexibility is Key
Having gone through different cultural, political, economic, and digital transformation, it makes sense that Millennials and Gen Z adapt well to change. Both generations grew in a world of exponential change, and as such, they understand the importance of flexibility while staying functional and effective in their given roles. Millennials were forced to become adaptable and learn to go with the flow because the world around them is in flux. Gen Z, on the other hand, see failure as a major driver to success and are not afraid to fail to make way for growth and innovation. Millennials and Gen Z level of agility in reacting to changing environments allow them to perform well under pressure, even in the presence of unprecedented waters and unknown outcomes – making them a highly valuable asset to an ever-changing global market.
The next wave of the workforce will continue to challenge the workplace – and that’s not entirely a bad thing. As it has been repeated time and time, change is good. And the world will also keep changing – there could be more global crises headed our way; new trends will arise as technology continues to outpace itself. To survive, thrive, and come out of these situations stronger and better, you need an army of young professionals with a strong track record for resilience on the one hand and the latest smartphone on the other.