Generation Z or Zoomers (those born approximately from mid-to-late 90s to early 2010s) are the talk of the town as they enter the workplace en masse and start their careers. They are like no other generation we have seen or have worked with.
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As what defines successful leadership looks like evolves, and seems harder to obtain, I wonder if our next generation of workers from Gen Z still aspire to be like the traditional model of business leaders?
Given the well-documented and sometimes lamented generational shifts we see in behaviour from Gen Z, us more established leaders from Gen X and Boomers (and even the upper-end of the Millennials who are now in their early 40s) ponder how such a complex generation will rise up to the big challenges ahead.
How can they be good stewards of our companies in the face of an increasingly volatile modern economy?
Now is the time to understand Gen Zs needs at work, as the older generations grapple with new ways to mentor them and help them find their purpose - their "why", if you like.
What drives the very reason this new workforce may accept a job offer is more complex than simply offering higher salaries or fancy job titles.
Remember that Gen Zs have been raised with helicopter parents at the helm and grown up during some of the best economic times in Australian history.
This has been coupled with unparalleled access to be able to achieve a high standard of education (and all its pressures). It is little wonder they have such specific expectations from day one at work: this may include more affirmations for doing their job far more overtly and regularly than say when me and my peers were in their 20s.
Backed by 20 years of economic prosperity with no real idea of what a possible recession means for their job prospects, Gen Zs are different and so will lead differently.
In their careers, they want to grow quickly and rise at speed through the levels of progression - they are impatient but also open-minded.
This shows up in their curiosity, drive, and confidence when they are looking for those "quick wins". They crave a sense of impact and achievement immediately. While this workplace enthusiasm is very much needed to be applauded, us more established leaders need to be teaching and role modelling skills of resilience, building their work ethic, and how to succeed when goal setting early on. As an employer, Maximus knows we need to be setting clear expectations of what performance is required with the right mindset.
This is more evident with hybrid working where it's important for Gen Zs to be learning on the job and therefore the apprentice model of sitting alongside people is needed more than prior generations, including mine, have been used to.
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In the next few years, Australian businesses will see an increasing number of Gen Y, Millennials and Gen Zs take up significant executive jobs.
Current evidence of their motivations and behaviour tells us that these younger generations have more purpose-led leadership in their wheelhouse. They also have shown some other behaviours such as lower resilience and even opting out of workplaces they don't enjoy or feel alignment with their values or fail to meet their often high expectations. However, managing these generations is crucial to future economic stability. These generations are often considered less conscientious, less gritty, and more entitled. There is a need to invest in our future workforce leaders, to ensure they will become responsible heads of industry.
Leaders who can navigate sustainable growth, offering stakeholders profit and purpose at the same time, all the time.
We all can learn something valuable from Gen Zs. They have an abundance of mindset, and superior digital capabilities that will help with fresh and new business models. As a society, we need to tap into that capacity as that is what will drive innovation and social impact. Now is the right time to embrace Gen Z. They can teach us all something new including how to shape even better, more aspirational leadership in the future.
Meanwhile, the current leaders - those who have delivered the sustained market growth and abundance we have all enjoyed - have a new job. It's now our turn to guide Gen Z to their own version of purpose and prosperity.
- Vanessa Gavan is an entrepreneur and trained psychologist. She is the founder and joint managing director of Maximus. She is a leadership expert with over 20 years of experience working with clients such as Westpac, Urbis and Suncorp.
