Generation Z and the board

 

It may seem to have come around quickly – but there are a growing number of Generation Z running companies and sitting on boards. Portfolio People Director Paul Gordon, has worked with some of them, and shares the traits he has noticed that make them as distinct from Millennials as Millennials are from Gen Xs.

Who are Generation Z?

Definitions and precise timelines are up for debate, but as a rough reference (backed up by Wikipedia), the working population can be segmented as follows: (baby) Boomers – born after World War II (1946-1964), followed by Generation X, around 1965-1980, then Millennials – sometimes called Generation Y, born in the years running up to the Millennium.

Generation Z are the next generation starting out in the workplace. They can be anyone born from 1995 to the early 2010s. So, Gen Zs in the workplace will range from teenagers up to those in their mid-twenties.

Ambitious and entrepreneurial

Any Gen Z currently running their own business is likely to be very ambitious and entrepreneurial. Quite simply, you don’t get to the top spot in a company in your early-to-mid-twenties without being very driven. I’ve found them very keen to learn and happy to take advice from older colleagues.

Another thing I’ve noticed with Gen Z board members is that they’re fast at making decisions and therefore quicker to pivot than more traditional boards that I’ve worked with.

Globally connected

Gen Zs are incredibly connected digitally. They didn’t live in a world before mobile devices and the internet and are used to having access to data instantly. They’re entirely comfortable sourcing the information they need to make decisions.

Away from the crowd

The Gen Zs I’ve worked with are much more likely to want independent work environments than Millennials, who tend to be more collective in their way of working. Gen Zs will work in a team but are more likely to sit on their own – still connected via a device but not necessarily within a group.

Realistic rather than idealistic

Many Gen Zs will have had to face some harsh realities such as the 2008 recession and the concerns over climate change. I find them more realistic than Millennials, whose ideals were perhaps shaped by their Boomer parents.

Other attitude-shaping factors

Gen Zs are the most educated generation so far – and as such, are likely to have large student debts to clear, which could perhaps explain their drive and ambition. But along with that drive is a strong sense of social justice and environmental awareness – remember this is the generation whose cultural icons include Greta Thunberg and Malala Yousafzai.

An asset to business leaders

This up-and-coming generation already forms a significant part of the workforce and, over the next few years, will only increase their presence on boards and senior leadership teams. Business leaders who understand their motivations will be on the front foot when it comes to nurturing the next generation of talent.

Call People Puzzles on 0203 633 6830 to find out how our experienced People Directors work with businesses to attract and retain star performers to help them grow.

P.S. Look out for Paul’s follow-on blog where he discusses what the younger generation values most in employers and how best to attract them into your business.

People Director, Paul Gordon