Jersey City — It’s no secret that Gen Z has a huge impact on the way the world operates today.
The oldest demographic of Gen Z (born in 1997), will turn 26 this year. Those born in 2005 will be turning 18. Consequently, the Gen Z workforce is expected to triple by 2030.
As the generation begins to take a larger stake in the workforce, their norms will likely shift every workforce possible, just as they have greatly shifted societal expectations and behaviors.
This column will predict what the tech workforce will look like when Gen Z makes up a majority of the sector.
Welcome to the first edition of The Gee Code.
Let’s dive into these predictions.
Gen Z’s “Be Your Own Boss” Mentality Will Drive An Increase in Young Startup Founders
Gen Z is a digitally native generation. By default, we have grown up with unlimited access to the information we need at the touch of our fingertips. That said, it’s not very hard to locate the resources needed to start a business.
In fact, a study by Connectd, a network that connects entrepreneurs with investors/advisors to secure growth, revealed that over 62% of Gen Z have started or intend to start their own company.
While everyone’s reason behind starting a company will vary, a general consensus amongst Gen Zers is the desire to be their own boss which in return eliminates the need for Gen Z enter an unstable job market where tech layoffs are common.
Becoming a startup founder or small business owner instead allows Gen Z to take matters into their own hands and offers the opportunity to build generational wealth.
Gen Z Investors Will Put Capital Into Startups That “Do Good”
Venture capital roles have historically belonged to white-males making their way through the tech sector. This lack of diversity has consequently resulted in the fact that funding for startups operated by people of color is disproportionately less than their white counterparts.
The rise of Gen Z investors will inherently combat that gap. Considering the fact that Gen Z is the most diverse generation to date, I predict that Gen Z investors will be a lot more open minded than previous generations in the space.
Not only do I predict that Gen Z will invest in diverse founders, I believe they will invest more into social impact startups that drive stick true to a deeper purpose while also bringing in a return on investment.
Afterall, we’re one the generations of children who grew up in times of huge social triumphs for equity such as Barack Obama being the first Black president and gay Marriage be legalized. If there’s one thing we’ve been taught to value is equity.
Gen Z Will Crave The Flexibility and Work Life Balance The Tech Sector Brings
As a digitally native generation, Gen Z is no stranger to utilizing social platforms and online resources to gain an understanding of the outside world.
With more of Gen Z entering the workforce, employer trends are revealing that the generation has high and oftentimes not-negotiable expectations at work. Common workforce expectations among Gen Z workers include high-pay that allows them to live above minimum-wage, flexible working hours, unique benefits and inclusive workspaces.
Not many fields of work offer this conglomeration of high-pay and benefits, especially for entry-level workers, but, tech does. Tech is one sector where remote work was common before the pandemic and hefty-salaries with huge benefits are too.
If there’s one thing Gen Z really craves is to be in a place of work that allows freedom and the opportunity to live-will. That said, I predict that tech will be of major interest to Gen Z workers, especially to those who may have planned to work in other career fields post-grad.
Keeping it gee, time will tell what Gen Z’s impact on the tech industry really looks like. Give it a few years and remember that if any of these predictions come true, you heard it here first!