Are You Ready for The Next Generation? How to Prep Your Workplace for Gen Z (Infographic)

Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more.
Meredith Wood

The youngest millennial is 22 years old, while the oldest is well into their adulthood at 36. The next generation is now reaching adulthood and the workforce. Known as Generation Z, the i Generation, Net Gen, and Digital Natives — it’s clear popular culture is still undecided on Gen Z’s identity. Though their impact on workforce characteristics is still a mystery to many, Generation Z is already different than those who came before them. Despite sharing an affinity towards technology with their millennial peers, they tend to be more financially wary and independently minded.

To prepare your workplace for the next wave of young professionals, you need to understand what motivates these new employees. Generation Z has never known a world without smartphones. Unlike millennials, they tend to value face-to-face communication. The rise of video chatting and face-time has given them a greater inclination towards verbal communication than their slightly older peers. This new generation’s childhood was shaped by the Great Recession of 2008. The median net worth of Generation Z’s parents fell by nearly 45% during this time. As a result, Gen Z values financial stability and hard work more than their predecessors.

In addition to being more adept with technology and globally minded, Generation Z offers many benefits to your workplace. With the latest education and a mind for the future, hiring young grads can reinvigorate your business with new ideas and strategies. Generation Z is one of the most well-educated, diverse, and hard-working generations. So whether your business is well-established, or still growing, making your workplace friendly to this new workforce can help ensure that it continues to be sustainable for generations to come.

Sources:
PewResearch | RyanJenkins | Forbes | WallStreetJournal | Cultureamp | Randstad | BankingJournal | Adweek | Entrepreneur | LinkedIn

Editorial Note: Fundera exists to help you make better business decisions. That’s why we make sure our editorial integrity isn’t influenced by our own business. The opinions, analyses, reviews, or recommendations in this article are those of our editorial team alone. They haven’t been reviewed, approved, or otherwise endorsed by any of the companies mentioned above. Learn more about our editorial process and how we make money here.
Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more.
Meredith Wood

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