Understanding Gen Z Through the Lens of Gen Z
Introducing Gen Z
To understand Gen Z is to comprehend the nature of their upbringing. Gen Z grew up during a time when the shift from the physical to the digital age occurred. From adolescence, Gen Zers
have been exposed to the internet, online social networks, and to mobile systems. That context has produced a hypercognitive generation that is comfortable with collecting and cross-referencing many sources of information while thriving in both virtual and offline experiences.
To better understand Gen Z in the consulting industry, we conducted interviews with Associate consultants from some of the world’s top consulting firms – such as Bain and Company, Deloitte, and PwC – who have just launched their careers post-COVID-19. We have asked our interviewees about their perspectives on being the bridges to the digital and physical age, their definition of success, their values, and how they envision the consulting industry reshaping with them joining the workforce to come up with findings about how businesses can start integrating trends among Gen Z into their strategies to benefit from this new generation in the workforce.
As consultants play a unique role in the job market as they survey – talk with, and consult hundreds of people across industries – they can be considered “hubs” of knowledge. Accordingly, it can be said that consultants’ perspectives and views are influenced by their experiences across industries and in various workspaces, such as trends in each industry and across industries by working on different projects. Thus, by conversing with consultants who are Gen Zers and identifying trends among them, it is evident that what Gen Z consultants value and emphasize is not just applicable to the consulting industry, but rather a representation of overarching values among all Gen Zers.
Findings
GEN Z will Challenge Organizations to Uphold Higher ESG Standards
Environmentally:
With Gen Z joining the workforce, there is a clear shift in values taking place. While older generations were more likely to prioritize paychecks, titles, or prestige, Gen Zers place more emphasis on company values and whether they align with their personal values. Their moral compass empowers them to be less afraid of walking away from a firm if they don’t feel like a good fit. As a generation, Gen Z is prioritizing the impact they are having or can have by where they work and is motivated by ESG initiatives that the company launches and chooses to engage in. They are willing to work long hours if their work environment is rewarding with good working conditions and if they enjoy who they work with. Gen Z’s sense of purpose is driven both environmentally and socially – “something bigger than a paycheque.”.
Socially:
Social sustainability to Gen Z is measured through their feeling of fulfillment and integrated cohesion in the workplace. They advocate for less separation between “work” and “personal” friends. Life doesn’t simply halt when you’re at work, work and personal life do merge. Well-being is also a critical component of GEN Z’s social priorities – the pandemic has shown the importance of balance, so Gen Z is more cognizant of avoiding burnout. Burnout is a form of exhaustion caused by constantly feeling overwhelmed– chronic burnout has detrimental impacts on one’s physical and mental health. With improved education and better access to resources, Gen Zers are more aware and active in ensuring that this does not occur. Flexible work models, reduced work hours, and increased access to mental health resources are thus at the forefront of their sustainability model.
Governance:
Gen Z consultants are confident that when they are at mid and senior manager levels they will enforce more flexibility in the daily lives of all members of the firm. A 4-day work week could be seen as a solution to having more flexible work hours (ex. choosing your start time), and more flexible time off (ex. a few hours a month for mental health breaks and thereby creating a hybrid work structure). Gen Z consultants argue this added element of flexibility is a more practical and sustainable daily norm to balance personal and professional life. Gen Z will challenge organizations that have time-consuming and outdated protocols to improve their governing structure.
GEN Z will Promote Non-Conformative Identities and Orientation
“Be whoever you want to be”, Gen Z is open-minded and therefore will bridge the gap between cross-cultural differences as workplaces begin to be more diverse. Furthermore, Gen Z’s more social nature can be attributed to the convenience and speed of communication that mobile phones and social media have allowed, Gen Zers strive to foster a close bond with coworkers, and this generational trait will be conducive to achieving productivity in an inclusive and cohesive work environment. A cohesive atmosphere is critical in consulting, therefore GEN Z will be a valuable addition to the industry.
Gen Zers have been accustomed to a dynamic and unpredictable environment, and therefore can thrive in non-monochromatic and more dynamic industries such as consulting, because they are strongly connected to technology. The idea of learning at a quicker pace is natural, and therefore GEN Z consultants have little tolerance for inefficiency and turn to technology to solve problems. The digital age has encouraged GEN Z to be more flexible and open to trying new things while working on projects- they actively learn and apply in real time. Therefore, a growth mindset will be the main proponent in maximizing the potential of GEN Z consultants.
These trends are difficult to understand if you're not from the Gen Z demographic, and that's where student-run consulting firms can provide expertise. Student-led firms such as JED Consulting can fill this highly sought-after perspective by being a hub of GEN Z knowledge as members of this generation and liaisons to other Gen Zers. Their perspectives are valuable in generating strategies to help businesses succeed for the up and coming market. The importance and significance of Gen Z’s perspective are related to them being the most social-media-savvy, progressive, diverse, and well-educated generation, which can be applied not only to the consulting industry but across all industries. Consulting is a subfield of industries Gen Zers are going into, but in any field, Gen Z is bringing their impact-driven, digitally-native, efficiency-first personalities with them. They are arguably one of the most robust and adaptable cohorts, as they have experience persevering during a pandemic and adapting to the new world order that they never prepared for.
It becomes increasingly important for companies to start working on incorporating strategies to attract Gen Zers from a recruiting standpoint to succeed in this new era. There will be approximately 60 million Gen Z job seekers in the next decade. As Gen Zers continue to enter the workplace, companies will have to modify their values, perspectives, and work preferences to attract and retain them. As the first generation to be fully immersed in the digital era, Gen Z employees have a preference for working in businesses that embrace the latest technologies. The unprecedented degree of connectivity that technology has provided Gen Z with speeds up the unfolding of technological and social trends, and makes the generational shift within the workplace more profound. With the newfound demand for digital transformation through the advancement of the tech industry, companies will need Gen Zers who are used to learning at a faster pace in the workforce. However, attracting them will be different from previous generations, as trends among Gen Z point to a necessary adoption of new policies and initiatives: Gen Zers come with a set of growing demands for higher ESG standards, diversity and inclusion, social awareness, and work-life balance. Moreover, they are more willing to turn away from organizations that do not uphold these values. Especially in the wake of the pandemic, conversations around flexibility, work-life balance, social and environmental justice are louder than ever. To attract and retain Gen Z, employers must be ready to adopt a speed of evolution that matches the external environment with a tangible focus on their values.