Finance News & Insights

Are you ready for Gen Z in your finance department?

Just when you were figuring out how to handle Millennials in the workplace … in comes Generation Z!

Seventeen million of these folks, born from 1997 on, are now adults entering the workforce.

And in many ways they’re extremely different from any other generation.

As these folks become everything from your new payroll clerk to your next auditor, here’s what you need to know.

Wanted: financial stability above all else

As with Baby Boomers and GenXers, you never want to paint an entire generation with a broad brush. But there are some very distinct trends among GenZers that you’ll need to be aware of:

  • They crave financial stability. This group came of age during the economic collapse of 2008. So finding a job that provides this is Priority No. 1.
  • They want to make money. Who doesn’t, you say? But 83% of this group says it’s important to be well-off. That’s much higher than the Millennials, who seek meaningful work first.
  • They’ll put in the extra hours. GenZers are much more willing to work overtime than the Millennials before them.
  • They don’t necessarily want to strike out on their own to do it. These folks are considered more pragmatic than entrepreneurial.
  • They need a career path. A job with “opportunity for growth” is important to 41% of GenZers, vs. 30% of Millennials. So that’s something you’ll want to map out with them from the get-go.
  • They have an even more limited attention span. You thought Millennials had trouble focusing! Get ready – The average attention span for a member of GenZ is a mere eight seconds. You got at least 12 with the generation before them.

 

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