They prefer their jobs to be stable touchstones they can rely on — but still, they want it to be on their own terms. Stubborn independence — Despite wanting stability, the iGeneration, like their millennial predecessors, are practical.
Gen Z consumer characteristics
Gen Z'ers consumer characteristics tend to reflect their pragmatic approach to money and education. Other key influences are their affinity for technology, their belief in social causes, and a strong individualistic streak.
The Economist has described generation Z as a better-educated, well-behaved, stressed, and depressed generation compared to previous generations. Gen Z is also more ethnically diverse and familiar with gender-neutral pronouns.
Gen Z is very concerned about their ability to communicate and forge strong interpersonal relationships. This may be due to the fact that technology has negatively impacted their cognitive skill development, and they recognize that their social skills, like critical thinking and communication, are weak.
70% of Gen Z say that anxiety and depression are significant problems among their peers. ² 30% of parents surveyed felt that their child was experiencing negative effects on their emotional or mental health due to social distancing and school closures.
One in four Gen Z respondents reported feeling more emotionally distressed (25 percent), almost double the levels reported by millennial and Gen X respondents (13 percent each), and more than triple the levels reported by baby boomer respondents (8 percent).
The youngest generation in the workforce is also more likely to play conservative with their paychecks right now, with Gen Z most likely to put in longer hours or work harder. Nearly a third are also considering taking a second job or a more stable gig in the face of potential recession layoffs.
Gen Z's awareness and approach to mental health can have a positive influence on their parenting by allowing them to be emotionally healthy and drivers of open communication. It can also help shape a future generation that will understand, accept, and seek to treat their own mental health issues.
Gen Zers aren't prioritizing romantic relationships — or if they're open to one, they want it to happen organically. A majority (52%) expect to meet their significant other in person instead of via mutual acquaintances (30%) or an app (6%), according to the Goldman Sachs intern survey.
But Gen Zers are different from older generations, because they are the first consumers to have grown up wholly in the digital era. They're tech-savvy and mobile-first—and they have high standards for how they spend their time online.
In general, Generation Z shifted to an egalitarian family type. Unlike Generation Y, members of Generation Z valued spiritual satisfaction and underestimated achievements. In the hierarchy of family life values, they focused on spiritual satisfaction, self-development, individuality, and active social contacts.
Born between 1995 and 2010, this generation have already found themselves up against immense challenges as they make their way into adulthood: climate change, inequality and social unrest, political division, economic distress and more.
They are pragmatic and financially-minded
Many Gen Z‑ers grew up watching their parents take huge financial hits during the Great Recession. Having witnessed their parents' struggles, this generation is driven by pragmatism and security.
Gen Z is also the smartest and best educated generation. Having an unlimited wealth of information at our disposal has not gone to waste. In America, 57 percent of Gen Z is reported to have enrolled in a two-year or four-year college, compared to 52 percent of Millenials and 43 percent of Gen X.
Only 37% of Gen Z fell into the loyalist category, defined as those who bought a product from the same brand they were considering at the start of the shopping journey. This is quite different from the 56% of boomers who did so. We found a steady decline in loyalty with each generation.
While 83 percent of people born between 1928 and 1945 (dubbed “the Silent Generation”) were married by age 37, researchers predict that Gen Z - born between 1997 and 2012 - are marrying far less.
Recent surveys show that Millennials place a higher priority on health and wellness than any other generation, including the oldest Americans, and the importance that Millennials give to a healthy lifestyle has increased more dramatically than other generations over the past decade.
What are Generation Z workplace stereotypes. Gen Z employees job hop and don't stay in one role for long. Gen Z workers have a short attention span and are always on their phones. Gen Z constantly multitasks to a fault. Gen Z simply cannot professionally interact face to face.
One-third (32%) of Gen Z respondents say they are the hardest-working generation ever, with Millennials ranked as the second-hardest working generation at 25%. More than half (56%) say the Silent Generation is the least hardworking generation of all time.
Coming from a world where the economy was thriving and opportunities were booming, baby boomers tend to be driven in terms of their work ethic. Many people in this generation had an opportunity for a career and a university education, unlike their counterparts earlier in history.
Gen Z (42%) is about twice as likely as Americans over 25 (23%) to battle depression and feelings of hopelessness. Gen Z is three times as likely (18% to 5%) as Americans over 25 to say their challenges are so severe that they thought they might be better off dead.
Among the working generations, Millennials were the happiest with 57%. Gen X came next with 52%, and then Boomers and Gen Zs came after with 41% each.
Not only do Gen Z work hard, they also take responsibility for their career. This generation is willing to put in the extra hours if they'll be rewarded for it.