Delivered April 29, 2020. Contributor: Katherine D.
Support research for a sales process by providing insights on some of Generation Z's values.
It's all about supporting communication
There is a parallel in the skills that Generation Z believes will be the most important to their future success in the workforce, and the skills they believe they need the most help with. 57% of them said being good at communication was the top skill, and 49% of them said problem-solving would be the top skill. However, the top two skills they said they wished they were stronger in also revolve around working with others- 50% of them said public speaking and 45% explicitly said communication. Interestingly, "hard" skills like computing, reading, and other expert areas do not make an appearance.
This emphasis on adaptability and human skills is likely reflecting broader social trends around how work is changing and how quickly traditional skills can be replaced.
It's (often) about making money
Gen Z is hyper-aware of financial responsibility. 77% of Gen Z currently earns their spending money- which is mind-boggling considering this is on par with the percentage for Millennials, who are about ten years older. 38% of them say they will continue to work during college, which may change the job market in terms of who already has experience, who is available for interviews and internships, and who is better placed to wait out better job offers.
Over 1 in 5 Gen Z say that debt is to avoided at all costs, which is a marked change from Millennials (the previous generation) for whom college debt has become a basic fact of life. This is likely because the debt conversation has been so prevalent in American consciousness for so long- in the survey, even members of this cohort as young as 14 had strong views on the topic.
This is most likely due to an increasing comfort in talking about money with parents. 56% of those surveyed said they had discussed saving money with their parents in the past 6 months, while 53% had discussed earning money. Parents are likely to be a pivotal influence in Gen Z's decisions about money (and therefore employment) down the road.
Similarities with millennials
Surprisingly, men and women in this generation spend differently. Gen Z men prefer spending on products, while Gen Z women prefer spending on experiences. However, this gender breakdown is similar to the spending patterns observed for Millennials. It offers an opportunity for companies to communicate to both generations simultaneously (in the case of recruiters, to fresh graduates and relatively entry-level or junior-level employees) in a way that appeals.
48% of this generation say they get input from family or friends before making a purchase. Of course, this could be a reflection of their relatively young age, but this statistic is similar to the more-settled Millennials. 44% of the latter generation say they do the same thing.
It's also important for them to get information from real consumers of the brand (or in this case, employees), again similar to Millennials. 30% of them say they prefer to get their information this way.
This allows for effective communication across generations, but emphasizes the importance of ensuring "real" faces and low degrees of connection to any company seeking to hire.
Interestingly, 30% of them believe that YouTube ads are more trustworthy than any other source of advertising.
Only the project owner can select the next research path.