Based on the latest statistics, Gen Zs make up 40 million of the Philippine population. This is considered a big boost in our economy. The younger workforce comes with fresher ideas, which won’t only transform companies but also the entire society.
As of 2020, 20% of the Philippine workforce were Gen Zs. Dubbed as the “digital natives,” Gen Z workers can easily adapt and thrive with technology, and they’d use it to increase day-to-day productivity.
Higher productivity, of course, leads to higher income, which boosts one’s purchasing power.
Now that classes just resumed in the Philippines, companies will anticipate an influx of Gen Z applicants by next year. The positions that fit Gen Z candidates the most are tech-related ones. True enough, 99% of Gen Z students say they recognize the importance of tech literacy. Good thing reputable schools are quickly catching up. Excellent e-learning for senior high school students adequately prepare them for the corporate world.
Let’s see what Gen Zs can bring to the table when it comes to business leadership.
Gen Zs See Jobs As a Passion and Means to Express Themselves
Employees from previous generations (except Millennials) often viewed their jobs as a means to earn. But Gen Zs have a different viewpoint. For them, a job is a passion and a means to express themselves. They value work-life balance, so they prefer companies that allow employees to cash out unused leave credits. They also seek employers who honor public/general holidays and implement a five-day work week.
In addition, over 90% of Millennials and Gen Zs believe that a compensation package must include mandatory government benefits and insurance plans.
While they’d rather not work on holidays, Gen Zs also consider double-pay during holiday work as a plus when looking for an employer. Naturally, they also value 14th-month pay and night differential. However, Gen Zs gravitate more toward day shift jobs, unlike Millennials, who prefer flexible working hours.
That’s because Gen Zs value career growth more than working hours. As such, they seek capacity- and skill-building programs from their workplaces. Moreover, they consider corporate social responsibility relevant. They, along with Millennials, believe that employers must value and contribute to their organizations and help conserve and protect the environment.
These traits make Gen Zs promising future business leaders. Based on their priorities, it’s clear that they will value their organizations due to the output they deliver, not on the hours they render. Gen Z leaders will promote a better work-life balance, treating leisure just as important as work.
Gen Zs Want to Work With Cutting-edge Technologies
As digital natives, Gen Zs are unsurprisingly interested in working with cutting-edge technologies. They want all business processes streamlined, from the hiring process to day-to-day operations. Moreover, they want to reduce the “digital divide” among the five generations in the workplace. Gen Zs are willing to act as technology mentors or digital ambassadors in their companies.
Clearly, Gen Zs will shape the future of the workplace. Once they take the places of the current business leaders, companies can utilize more technology, saving time, increasing productivity, and reducing costs.
Older employees and business leaders may not realize this, but using minimal technology actually costs companies more in the long run. Printing costs, for example, can reach five-figure digits within a month. On the other hand, producing digital documents are paid for through electric and internet bills, which hardly change when you send emails regularly.
With technology in their priorities, Gen Zs will become business leaders that cut costs while improving work quality.
Gen Zs Value Quick Rewards Over Loyalty and Hard Work
The older generation often misunderstands Gen Zs because of their contradicting values. Gen Zs seek generous rewards, unlike older generations who value loyalty and hard work more. Because of this, Gen Zs are often called “entitled.” But that couldn’t be further from the truth.
Rather than being entitled, Gen Zs know their worth. They won’t settle for companies that reward their hard works with mere “thank-you’s.” Besides, employees are paid for fulfilling what’s in their job descriptions. If they’ve been demanded to perform tasks outside their job descriptions and overtime, no less, it’s only fair to give them additional compensation. Business leaders shouldn’t take advantage of their employees’ dedication to the company.
Gen Zs may be young, but they already possess the right mindset for leading an organization. They deviate from outdated business practices, which mostly favor those in power more. Gen Zs seek to create a workplace where everyone, from rank-and-file to managers, feels appreciated in the same way. They will promote a healthy work-life balance, which can help reduce cases of poor mental health and burnout.