A series of reports from Gallup this fall have examined trends and available data on Generation Z (anyone born from 1997 to 2012) and younger millennials (born 1989-2001).
Although measurements for socially responsible organizations have been around for decades, environmental, social, and governance (ESG) criteria are increasingly at the forefront of investor, board, and executive conversations, Gallup said.
One study found that employee engagement in the U.S. rose early in 2020, chief human resource officers from the world's largest corporations noted that increased communication and town hall meetings were well-received.
However, while U.S. employee engagement showed a surge, it took a historic drop during the George Floyd protests. Diversity, equity, and inclusion (DEI) are now a top priority for business leaders.
The report also said that although Gen Z and millennials make up 46% of the full-time U.S. workforce, more than 50% are not engaged at work, a little higher than other generations.
Sixty-eight percent of Gen Z and younger millennials report feeling stress a lot of the time. Some millennials feel they were duped into student loans that they are still paying off more than a decade later.
Nonetheless, millennials are more likely to look for career development (by 17 percentage points) to seek remote work (by eight percentage points), and greater work-life balance and better well-being (by seven percentage points).
However, the report advised that young employees may not know the value of asking for feedback or being available to volunteer for extra projects alongside experienced peers, informal mentors, and coaches.
Many may also be entering the workforce with a narrow view of well-being, and success, and how unexpected interactions at work may provide opportunities they didn't know were possible.
Gallup research shows that enjoying what you do at work is also a factor in overall well-being. And, of course, increasing income and healthcare and retirement benefits also support long-term overall well-being.
Gallup identified five elements of well-being: career, social, financial, community, and physical. Each element influences the others, and thriving in all of them is necessary for a life well-lived.
A McKinsey & Company report found some ways that American Gen Zers are different from their millennial counterparts:
Almost 40 percent of adult Gen Zers say their purchasing decisions are most influenced by social media. For millennials, not so much.
Gen Zers buy on any device and in any format or channel. At the same time, they are much more likely to shop in physical stores than millennials, who were the first generation to grow up with online shopping and who are more likely to shop that way.
Gen Zers want to stand out, not fit in, so they are looking for the next unique product. Gen Zers care about experiences, but it is more important to spend on those that enrich their everyday lives, such as hobbies and home entertainment. Millennials are more likely to splurge on things like travel and luxury hotels.
According to Glassdoor Economic Research, some of the highest-rated employers for Gen Z (and non-Gen Z) include Microsoft, Google, Morgan Stanley, Trader Joe’s, Total Quality Logistics, NVIDIA, General Motors (GM), Fidelity Investments, HubSpot, Bank of America, Intuit, IBM, LinkedIn, Northrop Grumman, and Smartsheet.
Glassdoor also found corporate recruiting roles offer GenZers the most job satisfaction as it provides them the opportunity to shape how companies attract and retain talent, including helping to build diverse and inclusive workforces.
The highest-rated jobs for Gen Z and Millennial demographics are ranked below:
1.Corporate Recruiter
2. Marketing Manager
3. Social Media Manager
4. Data Scientist
5. Product Manager
6. IT Specialist
7. Account Coordinator
8. Credit Analyst
9. Project Engineer
10. Business Development Associate
Source: Glassdoor Economic Research (https://www.glassdoor.com/research)