Gen Z's New Rules of Work... The Best Path Forward

Welcome to The Shift, a weekly newsletter where I provide thought-provoking ideas to help you think differently about your career and money.

Last Week + This Week = It’s All Connected

Last week I discussed how more people are taking on a 2^nd job because they want to (90s style). Read here if you missed it. This week I dive into what Gen Z has to do with this trend and what it means for Millennials and Gen X.

It’s All About Leverage

Gen Z is known for forcing change at work.

Change that more than one generation wants to see accelerate.

Gen Z arrived on the work scene with demands in hand in 2017. They wanted work / life balance, meaningful work, and wellness benefits. Above all, this generation wanted to have control over their careers.

Timing was on their side.

A decade before, millennials ruffled feathers about many of the same workforce dynamics to little avail.

The difference: The new generation had more leverage.

A tight labor market post pandemic, demand for entry level talent as millennials graduated into management, and a focus on expenses all played into their hand.

It’s a hand Gen Z continues to play well when combined with their bold persona, independent nature, and distrust of the establishment.

They're not just changing the game; they're creating a whole new playbook.

Putting People at the Center

This is a generation that understands there is more than the traditional career path available to them.

They are willing to evaluate all their options. Including living with their parents for a handful of years while they build their future.

The old playbook of climbing the corporate ladder doesn’t accommodate the interests of this generation – they are looking for:

• Entrepreneurship

• Innovation

• Change

• Diversity

• Health

A new path forward based on these ideas likely puts the employee at the center of work.

Suddenly skills become more important than fitting a job description. The individual becomes an active creator of their career path.

That looks very different than a traditional work contract. In turn, it would reinvent the employer – employee relationship. Likely benefiting all.

The exciting news is we are further along on this journey to evolve the workforce than you may think.

Even more exciting is that more than just Gen Z will benefit.

Unintentional Change

The workforce is already transforming to accommodate this type of work.

Albeit in some cases the change is unintentional.

Ever wonder why you don’t know what your best friend does? She doesn’t know either. The point being: her job duties go way beyond the title.

Nowadays you get hired for a specific job description, but once you are in the door it isn’t unusual to be sent in other directions based on your abilities.

It is skills-based work – it’s just not formalized, giving the employee limited control and making it messy to manage.

The flattening of organizations also leans into this new thinking. Some companies, especially within tech, have gone even further, organizing as teams and projects. This puts a specific task as the center of the hiring process, building a team around it.

This structure could easily work with contractors or independent workers.

I’ve talked about nontraditional work becoming the new norm previously.

Some estimates show more than half of working Americans becoming “independent workers” by 2027¹ . Though this could be a gross underestimate given weak tracking mechanisms.

It will be more than just Gen Z that participates in this trend.

Millennials are feeling nostalgic just thinking about the possibility. And Gen Xers (at least the younger ones) may not want to admit it, but they are into the idea too.   

The ball is in motion because Gen Z seized an opportunity.

Millennials and Gen X are rooting for you.

Let’s make The Shift!

Lindsey

Sources:

1.  World Economic Forum.