Will young people influence the world of work for the better?
With Gen Z (typically defined as those born between 1997-2012) now entering the workplace more widely, there has been much discussion in recent years about Gen Z’s attitude and sentiment towards the world of work. According to a recent poll from Gallup, Gen Z are becoming increasingly detached and disengaged from their jobs.
While it can be easy to play the generation blame-game and point the finger using overly-simplistic and lazy stereotypes, we should instead be looking at the deeper underlying factors and root causes that may explain why so many Gen Zers are feeling a lack of connection to their places of work.
The hurdles Gen Z faces within the workplace
A recent ONS economic inactivity report, highlighted that there has been an increase in people aged 16 to 34 becoming economically inactive in the UK. This has fed into a much wider ongoing discussion about the very real challenges the UK faces with regards to getting young people into the workforce.
Shockingly, a recent study by Fiverr, found that nearly 7 in 10 UK Gen Zers do not want to enter full-time employment, many as a result of layoff fears due to economic instability, as well as what some consider to be an emerging threat to jobs caused by AI.
When we consider the significant hurdles Gen Z has faced since becoming of working age, these fears are completely understandable. For example, the vast majority of Gen Z never experienced working life before the pandemic, and as such have seen first-hand the damaging effects and devastating economic fallout that took place across a wide range of sectors - often resulting in mass layoffs. It’s no surprise that 17% believe that UK companies have no loyalty to employees.
Furthermore, when we consider the rapid surge in AI development and adoption within businesses worldwide, and the associated anxieties that this can bring with regards to job security, it’s clear that these combined factors have created an environment in which Gen Z fundamentally does not trust the corporate world to protect their jobs moving forward.
The widening gap between what young workers want, and what they are being offered
So with this clear and ever-widening gap between what workers want and what they’re being offered - what is Gen Z actually seeking from the world of work? Fiverr’s study found that 60% of Gen Z respondents planning to go freelance or self-employed are already in full or part time employment - and a further 25% are currently students, suggesting that they will look to enter the workforce as either self-employed or freelancers, shunning the traditional career path entirely.
Even more troubling for UK businesses is that nearly a fifth (18%) of Gen Zers surveyed cite self-employment and freelance careers as more stable than full-time employment. As such, it appears that Gen Z workers have decided that the best course of action to progress their careers is to rely on themselves for the stability that they need to pursue their own career ambitions. Freelancing and self-employment allow workers to not only create a stable path to be their own boss, it also grants total autonomy and flexibility over their own lives.
What the future of work looks like for Gen Z
Much like the move away from traditional career paths, Gen Z are also seemingly shunning higher education. Just over a third (35%)% believe a university degree is required for a successful and fulfilling career, and a further 36% believe that a successful and fulfilling career is achievable without a degree or with other formal qualifications (other than a degree such as an apprenticeship).
So what does this tell us about what the future of work will look like for Gen Z? Well, perhaps unsurprisingly given the economic turbulence they’ve lived through, they’re increasingly financially driven. According to Fiverr’s study, 45% desire to be financially comfortable as part of their larger career ambition, with 18% wanting to retire early. These fears are only exacerbated by the ongoing financial pressures caused by the cost-of-living-crisis.
Despite being one of the first generations where many will have never experienced a 5-day week in the office, interestingly only 22% of 16-26 year olds surveyed say a remote working policy would influence their job decisions, a figure which has actually decreased 2% since last year - perhaps indicating a desire for in-person connection and collaboration.
However, it seems while location is not important, there is a real value placed in flexible work, with 39% responding this will influence their job decisions and 1 in 4 also saying flexible working structures are a factor in choosing to be self employed or freelance.
Gen Z is widely considered to be a generation that is not afraid to be upfront with their demands (much to their credit). And perhaps understandingly they have a real desire to reclaim agency over their careers and lives in response to the ongoing threats from layoffs, flexibility demands and the increased adoption of AI.
Some may see Gen Z as being overly-demanding with regards to their expectations when entering the workplace, but given the fact that by 2035 they will be the dominant generation in the workforce, it’s highly likely that, through their often more idyllic beliefs, they'll influence it for the better.
Bukki Adedapo is UK Country Manager at Fiverr.
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