Research clearly shows that Generation Z will make up almost a quarter of the global workforce by 2020, making it the fastest-growing generation in the workforce. Gen Z workers have high expectations when it comes to earnings, promotions, and management opportunities, but still worry about making decisions, not being “good enough,” and their ability to repay student loans, according to newly released research from workplace coaching provider InsideOut Development.
The firm’s new survey provides unique insights for employers who are now managing the next generation of employees. For instance, the majority of Gen Z (75 percent) workers say it’s important to have a boss who can coach employees. They also strongly value bosses who communicate company vision effectively, provide frequent feedback and are overall consistent in the way they deal with employees.
What Gen Z Looks for in a Company:
Additional findings include:
Gen Z has high expectations for pay and promotions
- 75 percent believe they should work in their first position for only a year before receiving a promotion, and 32 percent believe they will deserve a promotion within the first 6 months of working.
- More than 40 percent believe they’ll make more than $100k per year at the height of their career, and half of those believe they’ll clear more than $150k per year.
Gen Z believes in Bachelor’s degrees
- 80 percent believe they need at least a Bachelor’s degree in order to land their dream job.
- Nearly 70 percent believe they’ll need at least a Bachelor’s degree to maintain a comfortable lifestyle.
Gen Z is still concerned about student loans, career choices and being “good enough”
- Only 30 percent are confident they’ll be able to repay their student loans.
- When it comes to getting their first job, Gen Z is most afraid of discovering they made the wrong career choice (26 percent) and not being good enough (26 percent).
Gen Z wants good managers and hopes to become managers
- 60 percent aspire to management positions of their own.
- More than 75 percent say a boss’s ability to coach is important (almost one in four say it’s the most important attribute of a manager).
- 25 percent would leave an organization because of a boss who manages through fear.
This survey polled more than 1,000 respondents aged 18-23 across the United States. For the purposes of this survey, Generation Z refers to individuals born between 1996-2010.