A Millennial Nomad, someone who sees themselves as an explorer, a thinker, a person who embodies being wanderlust and doesn’t necessarily have one single place they call home. It’s the stories you read about where a person buys a van, redoes it, and then travels the country side. But it’s also people who, in their workplace, have the option to work remotely, so they do. According to a survey conducted by AfterCollege networking site, 59% of current job seekers look for a flexible work schedule from a prospective employer, while 70% said they’re more likely to accept a job if there’s the option to work from home at least one day a week. Both of these rank second to work/life balance.
Now, as more and more Millennials ditch the corporate 9-5 for this nomadic lifestyle, other Millennials have taken notice and built companies around helping more people become Millennial or Digital Nomads. Take for instance companies such as WiFly Nomads or The Remote Experience. These are two, of many, companies that give you the option to work remotely from a chosen destination with 20 or so other like-minded individuals. You can take your passion to travel, skip the van living, and work remotely from some paradise halfway around the world. And if your work doesn’t offer remote work, well, they’ll help you find a job that does! It’s like studying abroad in college, but now you’re studying abroad for work.
And Baby Boomers, I know what you’re probably thinking, this is just an excuse for the younger generation to get out of work. But, that’s not the case. Millennials want to work, but they see the value in having the option for more “bleisure” (business and leisure) travel. In fact, per a study done by Expedia, 62% of Millennials are more comfortable mixing business with pleasure, compared to 37% for the Baby Boomers.
So, what could this possibly mean for your organization and retaining employees? Well, according to a recent survey done by LinkedIn, Millennials will jump jobs four times in their first decade out of college. That's nearly double the bouncing around the generation before them did. So now think about this, if you’re not offering flexible work schedules and there’s companies out there systematically helping Millennials find remote work opportunities, what’s keeping them at your organization? That one extra day off you give them off around the Holidays? Probably not. And I’m not saying you need to go and create these elaborate work abroad programs, even though there’s companies currently doing so, but what I am saying is it might be time to rethink that 9-5, Monday through Friday working style within your own organization, especially as Millennials and Gen Xer’s start to take over the workforce.
Need more tips on how to retain employees? Check out our resources page for FREE downloadable research papers.
In many ways, it’s symbolic that Generation Z is named after the last letter in the alphabet because their arrival marks the end of clearly defined roles, traditions, and experiences. After all, Gen Z is coming of age on the heels of what has been referred to as the most disruptive decade of the last century. America has become an increasingly changing and complex place.
Members of this generation have undoubtedly been shaped by crisis and disruption. This generation will largely be responsible for confronting the aftermath of the Great Recession, high youth unemployment, the effects of climate change, terrorism, energy sustainability, and more. These dark events have undoubtedly made this generation more cautious and pragmatic, but they have also provided this generation with the inspiration to change the world – and their grit will likely allow them to do it.
Coming of age during disruption means that most Zs will be comfortable being the disruptors. While Millennials tend to be collaborative and innovative, this generation tends to be sincere, reflective, thick-skinned, and self-directed, and will likely approach work in much the same way.
In the era following World War II, Boomers (1946-1964) were born and eventually became the wealthiest, most prosperous generation in history. Raised to aspire for the American Dream, this very large generation moved into positions of power and influence, and served as the workforce majority for 34 years.
With the American Dream alive and well, Boomers had no reason to teach their children, mostly Millennials, about competition. Instead, they taught them to focus on academic achievement and to be team players because if everyone works hard, everyone can win.
Enter Generation X (1965-1981). In contrast Boomers, Xers came of age during a time when change and economic and political uncertainty began to take root. They have lived through four recessions, struggled with debt and economic decline most of their lives, and watched the best educated and accomplished generation of all time (Millennials) graduate during the Great Recession and become the most debt-ridden generation in history.
Gen Xers can be defined by their independence and anti-status quo approach to life, and they have taught their Gen Z children to be competitive, believing only the best can win. They have encouraged their children to be realists, finding something they are good at and aggressively pursuing it.
Xers have raised their Zs with an intense focus on competitiveness -- in academics, sports, and other activities. This approach to parenting has many implications, but one stands out in terms of business: Gen Z is likely to lead.
Millennials in the workplace created and aggressively advocated for collaborative work environments. In fact, their aversion to leadership has been so strong, some Millennials sought out companies that boasted boss-free or team-managed workplaces.
In contrast, Zs have been raised with an individualistic, realistic, and competitive nature. They have been taught the skills to successfully defy the norm. This means we’re going to see the pendulum shift away from collaborative workplaces towards a widespread demand for, and pursuit of, leadership development.
While Millennials have been criticized for their “delayed adulthood”, Gen Z is showing signs of “early adulthood”. Educators and parents often describe this generation as being more serious and contemplative about the world. Zs are thinking about their career paths and exposing themselves to career training at an earlier age than Millennials. It’s probable that some of this early onset of adulthood is caused by parents, who are pressuring their children to be competitive and successful and to avoid the debt that plagued both the Gen Xers and Millennials.
The numbers from our global research found 46% of Gen Z said they know what career to pursue and 51% have taken a class at school focused on their career interests. Forty percent joined an extracurricular program (team, club) based on their career interests.
Zs have been shaped by the aftermath of the Great Recession. They watched Millennials become debt-ridden and are concerned about falling into the same trap. XYZ University’s survey results show 66% of Zs said financial stability is more important than doing work they enjoy, which is the exact opposite of Millennial survey results. Also, 71% of survey-takers have a paying job.
When presented a list of leadership traits, Zs ranked positive and trustworthy the highest. While Millennials and Gen Zs both value trust in a leader, Millennials usually cite collaboration and vision as most important. In other words, Millennials focus on the outcomes leaders inspire, whereas Zs are more likely to consider leaders’ attitudes and personalities. To Z, what leaders encourage others to do isn’t as valuable as how they make them feel.
Both Millennials and Gen Zs place a very high value on feeling challenged and appreciated in the workplace. However, according to our survey results Millennials rank appreciation slightly higher than challenge, whereas Zs rank feeling challenged slightly higher than appreciation.
Time will tell how Zs go down in history, but we know this generation’s influence on history will be unlike any other.
Does your organization have what it takes to engage the next generation? Take this quiz to find out.
Sarah Sladek is CEO of XYZ University. Our generational intelligence can assist you with engaging and retaining young talent and members.
Looking for a game changer at your next event or a strategy unique to your organization?