Gen Z is making a strong entry into the job market, disrupting the status quo. But why is this generation being stigmatised? What are its objectives? Is it really as “spoilt” as we are sometimes led to believe? What challenges do businesses face?
There is no exact time frame for defining Gen Z. Certain people place it with generations born from 1995 onwards, while others, with those born from 2000 onwards. As for the constituent elements of Gen Z, its predominant characteristic is that it grew up in the world of the internet and digitalisation. It therefore handles with ease the new technologies that it has incorporated into its everyday life, and for this reason, is referred to worldwide as “digitally native”.
Books, smartphones, schools
Gen Z is often accused of being ‘trapped’ in the digital world, ‘addicted’ to social media, not occupied by activities that nurture the mind and foster learning, such as book reading for example. Nevertheless, young people occupying themselves daily with new technologies become equipped with resources that open doors and opportunities not available to previous generations in the past.
The fact that smartphones and tablets have acquired a pivotal role in the lives of pupils has an immediate impact on their education. In studies conducted in Canadian territories during the 2010s, it was ascertained that there had been a drop in grades in subjects such as maths and physics. While this debate was ongoing, Apple published a study of its own, according to which the decline in pupils’ performance was due to the fact that the new generation does not consider the use of books and boards an attractive means of teaching. It proposed the introduction of computers and tablets in schools.
Other studies however were quick to refute the technology giant’s assertion. According to the latter, pupils tended to become distracted by the use of new technological devices when these included access to applications such as video games or popular social media platforms. That said, digitalisation is now a fact of life. Educational systems are therefore being called on to find ways that new technological means can support learning and education effectively.
Employer-employee balance
It is not education alone however that needs to adapt to the new generation’s particularities. There is a more general call for the job market to find ways of integrating Gen Z into the economy, which itself is in constant flux in light of new technological innovations, such as AI, whilst at the same time taking into account the dynamism that characterises young people today.
From the perspective of HR managers, it is often difficult to reconcile Gen Z’s high expectations with the reality of the job market. Many executives note that young talent overestimates its capabilities, particularly as regards the remuneration it seeks. Moreover, stereotypes often emerge, portraying this generation as one that seeks ‘easy solutions,’ acts impulsively, and lacks realism.
The reality is however, that the job market scales are close to balancing out. The power balance is no longer tipping in favour of employers as it did during the crisis years. Younger generations entering the job market have acted as catalysts for the redress of this power balance, with Gen Z at the forefront. Even Greek small and medium-sized businesses, which are traditionally the backbone of the Greek economy, comprehend the need to change in order to attract candidates. At the same time, the reputation of employers is gaining prominence as a leading factor in attracting human resources.
Remuneration requirements
Indeed, Gen Z does persist with putting forward to the job market its requests and requirements, and it may, to an extent, act impulsively in certain cases. Gen Z’s demand for higher salaries stems partly from economic uncertainty, which is worsened by rising living costs. Businesses are thus called on to develop attractive remuneration packages that live up to these expectations, without exceeding their own financial limits.
What is often overlooked however, is that the expectations of these young people as to remuneration are in no way unique. A study by the German Friedrich Ebert Foundation (FES) has shown that Gen Z is not alone in making it a fundamental priority to secure a viable income, since generations X and Y also shine a spotlight on it, heading in the same direction. The significant reduction in unemployment, combined with the integration of generation Z into the job market, have changed the landscape. Employers are no longer the ultimate “bosses” who set the rules. Rules are now decided upon jointly with employees. If the salary is not high enough or the business is not operating properly, the employee will simply change jobs.
So, the minimum wage will very soon be out of the picture. There will be hardly any companies left that will be able to find employees willing to accept the minimum wage. And of course, if non-remunerative contributions are not reduced, Greece will even find itself beneath Bulgaria in terms of net disposable income. The above data was presented in November by Adecco, a company providing human resources services in the sectors of sourcing and selecting personnel, as well as that of temporary employment.
Gen Z frequently switches jobs
Companies aim to retain the new generation of employees in the long term, so that they may capitalise on their skills in terms of productivity. It has been noted however that it does not take much for Gen Z to change its working environment.
Gen Z’s willingness to move jobs lies in its expectations for professional advancement. It seeks opportunities for quick promotions and defined career progression. If their current company fails to fulfil these expectations, young people often turn elsewhere, meaning that businesses do not benefit from their potential, despite having invested in their training. Companies are therefore being called to find new attractive “packages” to retain their human resources in the long term.
Therefore, aside from its familiarity with technology and digitalisation, the fundamental difference between Gen Z and previous generations is the moral dimension that it brings to the working environment. It expects to be treated in a manner arising from a framework that takes into account its particularities and that it will earn recognition. For this reason it seeks balance between professional obligations and private life, giving gravity to matters of mental health, and it is prepared to make radical changes, if it deems them necessary.
Student- business people
Bringing Greek reality into focus, it is worth taking a moment to consider the findings of a study conducted by Orientum career counsellors. With 20 years of experience under its belt, Orientum has been coming into daily contact with pupils in Greek senior school, at the time when they begin to research their vocational options. The co-founder of Orientum, Spyros Michaloulis, highlights that “career counselling sessions confirm everything that studies have shown about this generation, which prioritises its work – personal life balance over career progression at the cost of exhaustion, the approach taken by previous generations”.
In Orientum’s study on Greek pupils’ vocational interests over the decade between 2012 and 2021 (sample of 55,000 senior school pupils), which is highly representative of Gen Z, entrepreneurship ranks first in their interests with a percentage exceeding 40%. They view starting their own business as an opportunity to create a working environment that gives them flexibility, independence and the quality of life they desire.
Train employers
No one can of course expect senior school pupils to have full cognisance of what steps to take to start a business or seamlessly integrate themselves into the job market. For this reason, Reporter approached Business Consultant and Public Speaker Konstantinos Kintzios.
When asked whether education today lives up to the needs of Gen Z, Mr Kintzios stated that “it has made some progress, but it still doesn’t live up fully to the real needs of young people”, adding that “there is a significant gap between what is taught and what is necessary for someone to be successful in the modern job market and society. Although there are examples of schools and universities that are innovating, these are still the exception rather than the rule”.
According to Mr Kintzios, achieving better educational outcomes requires closer collaboration between educational institutions and the business sector, with the aim of strengthening the practical skills of the new generation. It is necessary, in parallel with this, to modernise study programmes to highlight Gen Z’s digital skills, amongst other things. He further emphasises that there needs to be an interdisciplinary approach and for focus to be placed on the personal development of young people. Contacts in the relevant chambers and professions have stated at times that the younger generation is not being prepared appropriately for the job market. Reporter asked Mr Kintzios whether there is an issue with Gen Z not receiving recognition in the market, particularly in relation to its digital capabilities: “Broadly speaking, the market appears to recognise the new generation’s capabilities, but it still only makes use of these to a limited extent. There are businesses that invest in innovation and embrace the skills possessed by young people in technology, but they mostly remain trapped in traditional models of thought and practice”, Mr Kintzios remarks.
In his opinion, there is a lack of innovation in the market and he further adds that important skills such as use of data analytics and AI are not adequately recognised. He also holds fast on the importance of continuing professional development: “The market often expects young people to be ‘ready by themselves’, but this is merely wishful thinking and nothing more”. For the better integration of Gen Z into sectors of productivity, Mr Kintzios proposes the creation of jobs specialising in new technologies, as well as educational programmes for employers, so that they may learn how to utilise the new generation in the best way possible. He also believes that it is necessary to promote the integration of technologies that are already available into businesses, with the aim of increasing creativity and productivity. Mr Kintzios thinks that interventions in this direction, both in the fields of education as well as that of the job market, will result in significant benefits, since it will make the gap between Gen Z and other generations smaller, thereby reinforcing mutual understanding and progress for all.
