Generation Z made up 20% of the workforce in 2020, and is,
according to Deloitte, set to soon become the most populous generation on earth.
It is also the most diverse generation, with 77% of Gen Z-ers saying that it’s important to work for companies or organisations whose values align with their own.
Gen Z is also prioritising their mental health. A study from jobs website Indeed found that 58% of
Gen Z workers reported burnout, and recent data from an Ogilvy study identified that 70% of Gen Z-ers say their
mental health needs attention or improvement.
That is not the only way this emerging generation of workers differs from their predecessors.
A recent study found that 83% of Gen Z say an employer’s commitment to
diversity and inclusion is paramount when choosing where to work. Other data has found that
75% would reconsider applying to a company if they weren’t satisfied with its diversity and inclusion efforts.
Gen Z-ers are ambitious, with 76% of them expecting to be
promoted within 12 months of starting a job–and in fact a third believe they deserve a promotion in the first six months of their first job. While other workers may be content to coast, Gen Z has bigger ideas and 60% are interested in achieving leadership
positions.
When it comes to money, remuneration matters more to this cohort than it does to millennials. There is a caveat, however; a survey from Intuit found that
for 66%, experiences matter more than money, and their interest in their finances is a means to support their current interests.
That might not be too surprising; this is a generation which may be doomed to long-term renting, with just
1% of Gen Z and millennials currently living in their long-term home.
Pragmatism is rife among Gen Z workers and they are careful about where they want to work. As a result, the shine appears to be wearing off the tech sector.
A recent
piece of research found that for those entering the workforce for the first time, they want to sign with brands such as Nike as opposed to Salesforce or TikTok. Aerospace and defence firms do well with this generation too, with interest being shown in Raytheon,
Lockheed Martin, and Boeing. Finance giants Morgan Stanley and Capital One are also hot tickets.
It’s not too hard to see why Gen Z-ers may now be wary of tech behemoths. As they either graduate from university, enter the workforce for the first time, and settle into their first roles, it is in a period where the news cycle has been dominated by massive
tech redundancies.
Younger workers are spooked by news that Amazon has cut 18,000 jobs, including recent hires. In January, Meta
withdrew offers to at least 20 recruits due to start in its London offices. Previously, it had rescinded
2023 summer internships too.
Deloitte says that instead, these employees are drawn to work that supports the greater good, such as education (41%) and healthcare (37%).
New career paths
No matter what your age, however, you may be considering a new career path this year. The
Finextra Job Board contains thousands of open roles to discover, like the three below.
Barclays is looking for a
Wealth Manager in Manchester to help clients create clear financial plans for their future, supporting them to protect, grow, and enjoy their wealth, via a full-service offering. You will need to be educated to degree level or equivalent, RDR level 4 qualified
and have experience of building a client base using internal and external networks.
In London, Monzo is seeking a
Credit Risk Oversight Director. You will lead the credit risk oversight team and work closely with colleagues to perform effective and insightful oversight, as well as owning the credit risk management framework. You will need significant experience of
leading a credit risk function within a fast moving and innovative financial services environment.
Starling Bank is looking for a
Regulatory Affairs & Policy Associate to ensure that the bank is on top of regulatory developments, that there are no surprises in dealings with regulators, and that it can lend its voice and experience to regulatory policy development. You will need to
be passionate about driving change in banking and have knowledge of the regulatory environment.
Browse the Finextra Job Board and discover dozens of opportunities.