Generation Z is the world’s largest generation so far, accounting for nearly 30% of the global population. There are nearly 2 billion of them on the planet. This is still a rising group, with individuals who may not have had standard life experiences (career, housing, etc.).
- A university degree is expected to be obtained by one out of every two.
- By 2025, they will account for 27% of the workforce.
- In their lifetime, they are expected to work 18 jobs spanning six careers and live in 15 residences.
Generation Z has been nicknamed “digital natives” because they are the first social generation to have grown up with access to the Internet and portable digital devices from an early age. With most of them being digitally literate.
But what do the future plans and expectations look like for Gen Z?
Generation Z has a strong, comprehensive knowledge of technology and its potential to alter how we live, according to global research by Dell Technologies. The survey with more than 12.000 students showed that 80 percent of them want to work with cutting-edge technology, 38 percent want to work in IT, 39 percent in cybersecurity, and 46 percent want to engage in technological research and innovation.
Gen Z education approach
Looking at older Generation Z members, it appears that they are on a slightly different educational path than previous generations. They have a lower chance of dropping out of high school and are more likely to enroll in college. According to Pew research – in 2018, 57% of 18- to 21-year-olds who had graduated from high school were enrolled in a two-year or four-year college. Which is more in comparison with 52% of Millennials and 43% of Gen X members.
Generation Z students are interested in alternatives to the standard four-year degree, but the majority believe that higher education is important and choose schools that provide the most value.
ECMC Group together with Vice Media surveyed 2.200 high-school students and discovered that 74% agree that an education focusing on trade skills, nursing, science, technology, engineering, and mathematics is beneficial. However, 64% are concerned about how they will pay for higher education.
Students of Generation Z prefer social learning, in which they may be hands-on and actively participate in the learning process. They are also more career-oriented early in their college years. More than half of Gen Z students believe that they learn better by doing rather than listening. They also prefer an interactive classroom and enjoy the class discussion.
More than 40% of Gen Z students want professions that match their precise interests after college. Many of these teenagers are starting to focus early on their careers as entrepreneurs. And over a third of Generation Z students have their own business or want to start one in the near future.
Gen Z career expectations
This generation was shaped by the Global Recession. Many of them witnessed their parents experience substantial financial failures throughout their early years. Generation Z is also joining the workforce at a time when many people are worried about the impact of automation technologies. So this generation believes that job security is a top priority.
Because Gen Z was nurtured in one of the most challenging educational settings, their competitive mentality may be mixed with an eagerness for recognition for their efforts. As a result, they place a premium on having realistic expectations on how to attain professional success and growth.
Gen-Z is extremely motivated to advance in their careers, with 76 percent believing that learning is the key to success. According to a LinkedIn report, 67% of Gen-Z users on LinkedIn spent more time learning in 2020 than they did in 2019. In total, they spent 50% more time watching online courses than users from any other generation.
A workforce institute report says 32% of Gen Zers think they are the hardest-working generation, although they accept that work-life balance influences their hardworking attitude. One in four would work harder and longer hours if they worked for a company that offered flexible schedules.
Gen Z saw others use technology to develop profitable business endeavors as they grew up, therefore 58% of Gen Zers want to own a business eventually, and 14% currently do.
More than half of the Gen Z workers around the world are optimistic about the future. However, this optimism is tempered by increasing concern about job expectations and attaining achievement.