Did you know that for the past 15 months there have been more job openings, than job seekers? According to The Bureau of Labor Statistics, as of May 2019, the number of U.S job openings are 7.3 million compared to seekers at 5.5 million. That is 1.8 million need of candidates in the U.S job market. Although it lacks details of the industries, it still can conclude to one thing. Candidates want more than what is currently offered by jobs.
Previous generations had a very different motivator when they entered the workforce. Generation X (the generation before millennials) have often explained family as their motivator. They want to give their loved ones what they lacked growing up. This motivator possibly allowed them to put up with more than they wanted to for the sake of keeping a decent paying job. Which is different from Generation Y (Millennials) who are purpose-driven and do not want to stay in a position that they feel lacks appreciation, development, or do not believe in. Understanding the needs of each generation is essential to a successful work environment and filling vacant positions.
The Future of Work
Entrepreneur Staff states 41% of Generation Z plan to become entrepreneurs. That means traditional ways of entering into a career are becoming a thing of thing past. Gen Z’s are watching how millennials attended school and accumulated thousands in debt, only to not make enough money from an employer to make ends meet.The education system lacks personal development, and employers often have steep requirements when entering into the workforce. School does not teach young minds about life or how to get to know yourself and develop into a responsible adult. So, this new generation is taking life into their own hands and thinking about alternative paths for learning. Gen Z’s are living life for them and many have already started their own businesses or nontraditional ways to create income. If employers want to gain interests in this new generation, the way we currently view the workforce must change.
What Can Be Better
Upcoming generations do not want to imitate going to a job you dread every day. So if changing a career path, starting a dream business, hiring a career coach, or finding a new opportunity is what it takes to be fulfilled. It is a risk they are willing to take. The job application process and Corporate America can be very draining. Personally, I look forward to what the future of work looks like when the young professionals transition into the leaders of businesses and the community. Understanding the future generations is knowing that they see a flaw in the current system. With the vision, work ethic and support, Millennials and Generation Z are going to transform the work environment for the better.