Maulik Parekh, in his book “Futureproof Your Career and Company,” worked as CEO of a company with over 20,000 people in his global workforce. He surely knows what he is saying. Securing his permission to quote him and his book, Maulik says: Three characteristics set Generation Z apart:
1. They want to work with the latest technology.
Gen Z witnessed people upgrading their smartphones every two years. They witnessed Siri, Alexa and Google ceaselessly evolving from a mere novelty to an intuitive and intelligent virtual assistant. They saw the speed for internet connectivity increase by 20-fold. They only know one way to exist. Upgrade. Get better. Get faster. Get smarter. Repeat.
It is no surprise that they are picky when it comes to choosing their employer. They are looking for an employer who will provide them with the latest technology to work with.
In a 2018 survey conducted by Dell, 80 percent of them said they want to work with cutting-edge technology. And, 91 percent said the technology offered by an employer would be a factor in choosing among similar job offers.
Companies must ensure their technology meets the demands of their customers and tomorrow’s employees that promotes a fluid and personalized work environment where one can work from anywhere and at any time.
2. They are entrepreneurial.
“Do you know Charli D’Amelio, Baby Ariel or Jacob Sartorius? If not, you are not alone. I had to Google them myself.” says Maulik.
They are outrageously popular celebrities. And perhaps the reason you haven’t heard of them is that they found their stardom not in movies or TV series but on relatively new platforms like TikTok, YouTube, and musical.ly. Charli alone has over 52 million followers on Tiktok and is growing by the day. All three of them were born after 2000.
What’s impressive is that, like real entrepreneurs, they have turned their social media following into a lucrative business, signing sponsorship deals, releasing music albums, landing prominent roles in popular TV series and movies, and even appearing in Super Bowl commercials. They are not alone. Many Gen Z are making money by doing what they love to do. Their motto (in Gen Z speak): “You do you.”
Why are young people more likely to become an entrepreneur today? Because it is much easier for them to start a business than any other generation in their youth. All you need is an amazing idea, a smartphone, and internet connectivity.
The implications? They won’t survive too long in companies where the bosses at the top make the decisions and micromanage the rest to carry them out.
3. They are purpose-driven.
These digital generations are the most woke and inspired generations to tackle the urgent social and environmental issues facing the world today.
According to a 2019 study conducted by Porter Novelli/Cone, 88 percent of Gen Zers feel their generation has the power to transform the world for the better, not because they are naïve, but because they have seen proof in the person of youngest recipient of Nobel Prize Malala Yousafzai and Greta Thunberg, the Swedish environmental activist who is internationally known for challenging world leaders to take immediate action against climate change.
So, what does this mean for you as an employer?
Young people are looking for employers equally engaged in and committed to solving social and environmental issues near and dear to their hearts. They won’t take your word for your CSR. They are a skeptical bunch. They want to know if you are putting your money where your values are. The bottom line is: People won’t commit to your brand until you commit to your social responsibility.
And then Maulik gave a very sharp observation as he closed his section on Generation Z. He says: “In 1970, Milton Friedman, a renowned economist, wrote an essay in New York Times magazine, titled, “The social responsibility of business is to increase its profits.’’ He argued that a company has no social responsibility to the public or society, and its only responsibility is to shareholders.” He hadn’t met the Millennials and Gen Z yet.
The pandemic has changed a lot of things. Perhaps Gen Z would not have the luxury to indulge in the employment of their choice but trust me, this behavior and personality of the young people would be with them. This leads me to the question that you and I will have to consider. Are the leaders in your organization ready to lead them? Get the book. It’s one of the best I have read last year.
(Connect with Francis Kong at www.facebook.com/franciskong2. Or listen to “Business Matters” Monday to Friday 8a.m. and 6:30 p.m. over 98.7 dzFE-FM ‘The Master’s Touch,’ the classical music station.)