A new generation is starting to enter the workforce, and the office as you know it could be about to change dramatically. Generation Z — people born after 1996 — is about to hit the working world in a big way. Consulting firm BridgeWorks estimates that Gen Z accounts for 61 million people in the U.S., a number that's already larger than Generation X and two-thirds the size of the baby boomers.
Gen Zers have lived a much different life than their parents and millennials. They're a generation that, in many cases, can't remember a life without a smartphone in their hand — and they have no memory of the 9/11 attacks, beyond the classroom. As a result, companies looking to recruit and retain them may need to adjust their tactics.
The Center for Generational Kinetics has extensively studied this segment of the population. The good news for companies is this appears to be a group that wants to work hard and learn. They're also a generation that's thinking about their own financial future.
"These Gen Zers have seen their parents struggle financially [due to the recession and student loan crisis], so parents are having conversations about finances, money and debt with kids earlier. They're having conversations older generations never really had before," said Denise Villa, founder of The Center for Generational Kinetics.