Heard the words “bet” “bro” ,“lit” &“bruh” before? They’re just a few examples of what you’ll be hearing from GenZers as they use “bet” to confirm something or “bro” - a shortened version of “brother”, this term is typically used to greet a friend, no matter their gender or “lit” - to describe something cool, call a close friend “bruh” . This reworking of the English language is the beginning of Gen Z’s influence.
Generation Z characteristics are interesting and specific. Generation Z is very enthusiastic about games (avid gamers) and music, and they are known for always being on the internet, on social networks, and connected to technologies , proving that they are truly “Digital Natives”. They tend to care about trends, but are also quick to research about them.
It’s no secret that today’s students differ from other generations. Not only are interests like political activism and social justice among the most salient features of Gen Z, but they are avid consumers of information and fluent in the use of digital technologies. Engaging them means meeting them where they are and supporting them in ways that produce their unique worldviews.
Making money & having a successful career is a priority
When it comes to career and financial goals, this young generation isn’t so different from the previous generations
Gen Z adults, between ages 18 and 21, prioritize making money and having a successful career. These two goals are more important to them than having close friendships, getting married or traveling.
When it comes to money, Gen Z and Millennials hold similar views. Saving is a top priority for both generations . Millennials put more stock in Software Workplace benefits like quality healthcare, parental leave and vacation time than Gen Z, but that’s not so surprising considering that they likely haven’t needed to use those perks yet.
According to this research, when asked to list the three things that would improve their lives the most, Gen Zers said:
50% of them said having more money is important
27% believed in being more self-confident or self-reliant 24% of them believe in doing work they enjoy
Young adults are more likely than older people to use a debit card or cash rather than a credit card to pay for everyday purchases. Where they really differentiate themselves from previous generations is that GenZ is more likely to define themselves by their work, and a larger proportion have aspirations of being famous/popular. But if Millennials and Gen X are any indication, Gen Z might grow out of that.
A Financially Uncertain Generation
Despite their ambition and drive, Generation Z is saddled with substantial uncertainties about their current financial status and sees significant room for improvement around how to manage money day-to-day : Over a quarter (28%) of Gen Z views their generation as not at all responsible when it comes to finances, which is double that of the general population (14%) and well above the percentage of Millennials who say the same (22%).
57% report not knowing how much money they have in savings, a significant increase from the general public (46%) and their Millennial counterparts (48%). Nearly seven in 10 (69%) say they don't have great clarity on how much they can spend now vs. how much they should be saving for later.
Goal-Oriented & Motivated To Pursue Enjoyable Careers
Gen Z will soon surpass Millennials as the most populous generation on Earth, with over one-third of the world’s population counting themselves as GenZers. They are on the verge of entering the workforce and spending money on products, services and solutions that you produce, provide and create. The generation is entering the workforce at a time when the overall Software Workforce is shrinking and aging.
Therefore, understanding what matters to GenZ will be critical to the success of Software Companies in attracting the members and Software Organizations in the future as they are the future IT workforce. While money and salary matters a great deal to Gen Z, there are many other values they hold. It’s important for GenZ to work at Software Organizations whose values align with their purpose.
(Author: Abirami Vellayappan is a curious cat and a social media writer at TechDoQuest.)