Move over millennials, Gen Z is here and they are boldly entering the workforce. In the next two years, 61 million Gen Z’ers will make up 20% of U.S. workers. Born between 1995-2010, the post-millennial generation is vastly different than their predecessors. Unlike Millennials who are often associated with negative professional characteristics like apathy and entitlement, Generation Z is hard working, financially savvy, and success oriented.
According to expert Marcos Jacober, it’s wise for entrepreneurs and business leaders to learn everything they can about Gen Z’ers.
“This group may be young, but in the next few years they will be your biggest competition in business…”
….says Jacober, CEO of Life Hacks Wealth, a business that provides mentoring and support for young or underprivileged entrepreneurs. Working closely with this group has given Jacober unique insight behind the entrepreneurial mind of Generation Z.
One of the largest cohorts since the baby boomers, there has been a ton of speculation on what this group will be like as adults. Raised during the Great Recession and the Student Loan Crisis, Generation Z is understandably conservative with money. They are focused on finding stable jobs and lucrative career paths…but the path to success looks a bit different today than it did a few years ago. To avoid student debt, many Gen Z’ers are opting out of the traditional route of higher education and instead of going straight into the workforce or pursuing more affordable online degrees.
Right now many businesses re-assessing key elements of their workplace in an attempt to attract Gen Z employees…but what’s more important? Retaining them.
Although businesses want to attract these young people, technology has reduced the need for companies to hire entry-level positions. Rather than waiting for the job market to improve or for companies to consider hiring them over Millennials, Gen Z’ers are taking matters into their own hands. They are hungry, they are ambitious, and they are tech savvy. Many college grads are interning at established companies and then using that experience to start their own businesses. And in today’s interconnected, shared economy, it has never been easier to experiment with entrepreneurial endeavors.
“Generation Z is poised to take business by storm and if you are an entrepreneur, the time to prepare for the competition is now,” says Jacober.
ABOUT MARCOS JACOBER
Brazilian immigrant Marcos Jacober is an investor, author, international speaker, and teacher. He is the CEO of Life Hacks Wealth, and the founder of Airbtheboss. Jacober moved to the US in 1998 with only a dream and $100 in his pocket. Against the odds, he achieved the American dream using the gig economy to fuel his success.
Father of two beautiful children, Jacober has helped thousands of individuals from different countries start their careers here in the US. His new book Eat This Mr. President was released in 2018.