Generation Z, the group born between 1997 and 2010, is growing up fast. To prepare for their arrival, they’re taking precedence over today’s Millennial generation.
As this generation is maturing and entering
into the modern workforce, they’re having a strong impact on the world of
business. Gen Z is already leaving their distinct mark on the corporate world
as forward-thinking strategies are preparing for their arrival.
What
Does Gen Z Want From Their Workplace?
With an approximated population of 61 million,
there’s no question that Gen Z will make big waves in the workforce. Experts
are expecting this generation to ‘radically change’ the contemporary office
scene in every respect — from workspace design to corporate cultures.
That being said, everyone’s asking the same
question —
what does Gen Z want?
When it comes to the workplace, Gen Z isn’t
shy about laying down their demands. Research and surveys conducted on this
generation show that their priorities are quite different than their Millennial
predecessors, who valued experience and work-life balance over all else.
Instead, the incredibly pragmatic Generation Z
has named salary and security as their top professional priorities. A study on Gen Z conducted by Concordia University
shows that 65% of Gen Z view salary as important, and 70% state that salary is
a top motivator in choosing an employer.
Besides a hearty paycheck, Gen Z is interested
in using the latest and greatest technologies to optimize their workflows. Digital
infrastructures are important to Gen Z-ers who are interested in using their
tech-savvy nature to the fullest.
An
Evolving Corporate Culture
Gen Z is changing up the corporate culture set
in place by the Millennials.
While the cooperation-loving Millennials
enjoyed the message of ‘one for all’, Gen Z is more apt towards ‘all for one’.
Generation Z believes their own professional success lies in their hands, and
they’re ready to work their way to the top. Studies show that this money-conscious
generation is willing to work overtime if it means boosting their salary.
Another difference between the lifestyle-perk
loving Millennials and the work-centric Gen Z is the need for amenities.
Generation Z isn’t looking for games and events, as they’re more interested in
having the tools they need to succeed. Gen Z would rather work in an office
that has great tech software than areas for frivolous fun.
In addition, Generation Z believes that
face-to-face contact can’t be replaced by digital communications. Generation Z
would prefer to handle things with straight-forward person-to-person contact.
But, this doesn’t mean that they’re looking
for a highly social workplace. Privacy is important to Gen Z, who view boundaries and personal space as imperative to
productivity. Gen Z doesn’t love the fully open-office concept, as
they prefer quiet spaces and personal work zones.
What
These Trends Mean for Commercial Real Estate
These trends are changing things up for CRE.
To meet Gen Z’s high work ethic, office buildings need to expand their operational hours to account for overtime and
weekend shifts.
Tech-based areas are going to be replacing the
fun-fueled amenities left behind by Millennials.
Privacy-based design schemes will be shaking
up the open-office concept, so developers should start designing
easy-to-navigate floor plans featuring lots of personal space.
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