Customer experience has become a brand’s most critical competitive differentiator. For example, a recent Adobe survey found that 64% of Generation Z shoppers and 72% of Millennial shoppers think brands should provide a personalized experience.
They’re young, mobile, and entrepreneurial, and they are destined to change the workforce as we know it.
We’re talking about Generation Z, born in 1997 and onward, according to Pew Research. Some of them have already entered the workforce. And they are nothing like their predecessors in terms of what they expect from, and value in an employer.
The following stats paint a picture of a hard-working, optimistic generation who can’t ever imagine the future of work without modern technology.
1. Gen Z consumers make up 61 million individuals in the U.S. alone and are expected to make up 30% of the labor force by 2030. (Source: U.S. Census Bureau)
2. Gen Z is the most diverse generation in history, and just over half of them non-Hispanic whites. (Source: Pew Research)
3. Nearly one-quarter (24%) of Gen Z thinks they will make $60,000 or more in their first jobs out of school. (Source: Yello)
4. Gen Z starts their job search early. One-quarter begin in their freshman/sophomore year of college, while half start in their junior/senior year. Only one in 10 wait until after graduation. (Source: Yello)
5. Gen Z has a deep understanding of how technology can transform the way we work and live. That’s why 80% said they aspire to work with cutting-edge technology, 91% said technology would influence job choice among similar employment offers, and 80% said they believe technology and automation will create a more equitable work environment. (Source: Dell)
6. Still, Gen Z members worry about having the right soft skills and experience for the workforce. Research found 52% are more confident they have the tech skills employers want than they are about non-tech skills. Related, just over half (57%) think their education has prepared them well for future careers. (Source: Dell)
7. Gen Z also understands the workplace is changing because of technology. The majority (59%) don’t think their current jobs will exist in the same form 20 years from now. (Source: LinkedIn)
8. Unlike their Millennial predecessors, Gen Z is motivated by financial incentives and career advancement. More than half (59%) would learn professional skills to make more money. (Source: LinkedIn)
9. Gen Z is entering the workforce with less job experience than previous generations. Only 19% of 15- to 17-year-olds in 2018 reported working during the previous calendar year, compared with 30% of millennials in the same age range in 2002. In 1968, nearly half of Baby Boomers (48%) reported working in the previous year when they were that age. (Source: Wharton/UPenn)
10. Sixty-five percent of Gen Z employees think salary is important—more so than their millennial predecessors. Millennials care more about work-life balance when choosing an employer (47%), while only 38% of Gen Z employees think it’s important. (Source: Vision Critical)
11. Gen Z isn't just disrupting the workplace. These consumers have very different expectations around how brands sell to them as well. Seventy-three percent of Gen Z said they preferred brands to contact them about new products through Instagram, with Snapchat following as the preferred method at roughly 50%. (Source: eMarketer)
12. Research also finds that Gen Z teens (ages 15 to 17) spend an hour a day, on average, doing homework during the school year, up from 44 minutes a day about a decade ago and 30 minutes in the mid-1990s. (Source: Pew Research)
13. Eighty-eight percent of Gen Z said they are optimistic about their personal future. (Source: Vision Critical)
14. Members of Gen Z are less likely to consider themselves big spenders compared with Millennials. (Source: Vision Critical)
15. Over half (55%) of Gen Z use their smartphones five or more hours a day, and over a quarter (26%) use their phones 10 or more hours a day. (Source: CGK)