| ORGANISATIONS When it comes to communicating with today’s young people and marketing to the next generation, a research-based understanding of Generation Z is key. However, the Gen Z’s represent more than today’s “kidfluencers” and tomorrow’s consumers: they are also the next generation of employees. Generation Z are not currently working. However, within a decade they will comprise 10% of the workforce and, a decade after that they will be the largest generation at work. Therefore, from an employment perspective, Generation Z are becoming increasingly important. The current skills shortages and labour gaps are not just due to the economic times, but the demographic realities. More full-time workers are exiting the workforce than are entering it. Not only is demand high, but supply is low and this will continue to create an employees market for decades to come. While today there are 5 people of working age for every person of retirement age, within 4 decades this will more than halve to just 2.4 workers per retiree. Therefore understanding Generation Z will be integral to employment in the years ahead. Engaging with Generation Z is not just a micro-issue: the huge challenges of workforce planning, workspace design, career branding, succession planning, leadership development, and recruitment and retention issues all depend on an effective understanding of this next generation. McCrindle Research, the developers of GenerationZ.com.au have a reputation across the Asia-Pacific for solid research into the different generations. To assist your organisation, we have research papers available on our website, as well as services such as commissioned research, workshops, seminars and consultation. Click here to go back. |