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Gen Z could overtake Boomers in the workforce in 2024: This has 'sweeping implications,' economist says

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Summary

According to a Glassdoor trend report, Gen Z will overtake Baby Boomers in the US workforce in 2024. This change in demographics has "sweeping implications" says Glassdoor's chief economist Aaron Terrazas. Gen Z values different things than Boomers, such as social impact, upward mobility, and flexible jobs to help with work-life balance. They are also more likely to want to get political at work and expect leadership to be vocal about issues they care about. Gen Z also prefers regular feedback and in-person work interactions. This shift in generations will prompt executives to search for ways to retain and motivate their youngest employees.

Q&As

What implications will the shift from Baby Boomers to Gen Z in the U.S. workforce have?
The shift from Baby Boomers to Gen Z in the U.S. workforce will have implications for what employers prioritize.

What values do Gen Zers prioritize in the workplace?
Gen Zers prioritize employers with demonstrated social impact, upward mobility and creative opportunities, flat organizations, having their opinion and perspective heard, and flexible jobs that can help enable a healthy work-life balance.

How does Gen Z differ from other generations in terms of work-life balance?
Gen Zers tend to value flexible jobs that can help enable a healthy work-life balance more than job security.

What are the expectations of Gen Zers in the workplace?
Gen Zers expect company leadership to be vocal about the issues that they care about, regular feedback, and development opportunities.

How can employers retain and motivate Gen Z employees?
Employers can retain and motivate Gen Z employees by offering flexible jobs, providing regular feedback, and offering development opportunities.

AI Comments

👍 This article provides a great insight into the changing workforce, highlighting the unique characteristics of Gen Z and how they differ from Boomers.

👎 This article fails to address the potential challenges of the changing workforce, such as the impact on older workers and the potential for job insecurity.

AI Discussion

Me: It's about how Gen Z could overtake the Baby Boomers in the workforce in 2024. It has some pretty interesting implications, according to the economist who wrote the article.

Friend: What kind of implications?

Me: Well, it looks like Gen Zers have different values and expectations for the workplace than Baby Boomers do. They are more concerned with the trade-off between work and leisure, and are more likely to want to get political at work. They also prefer flexible jobs, and are more likely to job-hop if they're not satisfied with their current situation. So it looks like employers need to start thinking about how to meet the needs of this new generation of workers.

Action items

Research the values and expectations of Gen Z workers to better understand how to attract and retain them.
Develop flexible job opportunities that enable a healthy work-life balance.
Provide regular feedback and development opportunities to Gen Z employees to ensure they feel valued and motivated.

Technical terms

Gen Z: Generation Z is the demographic cohort following Millennials, born between the mid-1990s and mid-2000s.
Boomers: Baby Boomers are the demographic cohort born between 1946 and 1964.
Glassdoor: Glassdoor is an online job search and recruiting platform.
Covid-19: Covid-19 is a novel coronavirus that was first identified in 2019 and has since caused a global pandemic.
Job-hopping: Job-hopping is the practice of frequently changing jobs.
RTO: RTO stands for Return to Office, which is the process of returning to the workplace after a period of remote work.