Generation Z and changes in the structure of the modern labor market

Abstract

The article is devoted to the analysis of the characteristics of representatives of generation Z on the basis of modern studies of "digital children" and the provisions of the theory of generations are outlined. The author analyzes the specificity and uniqueness of generation Z, considers the relationship of generations in the context of their influence on each other (Baby Boomers, Generation X, Y and Z), which influence the formation of values and attitudes of people of this era. Due to the inevitable change in the percentage of different generations in the workforce in 2025-2035 (an increase in the percentage of generation Z in the working population structure), employers need to understand the main characteristics of the next generation when designing new jobs and structures, as well as when planning changes in pre-existing corporate systems. The article analyzes the modern features of the functioning of the labor market in connection with the increase in the proportion of representatives of the Z generation, which strives for individuality both in work and in personal life, is quite skeptical and realistic, and is more prone to entrepreneurship. It has been proven that this generation, firstly, is more freedom-loving and less holding on to its workplace, wants to “change the world for the better” and serve society, adapts to changes more quickly, and also wants to be more successful than past generations. Generation Z is looking for more freedom to create and be inspired - they are more interested in creating their own unique content and will work for startups that give them the opportunity to innovate. Secondly, it is more ready to take risks and bear responsibility, sets new consumption patterns. Self-actualization is of paramount importance to them, along with a fulfilling job and a positive work environment. For Generation Z, work flexibility is especially important. The overall importance of work as a source of income is decreasing - the importance of the salary level itself is decreasing, the importance of moving up the career ladder is decreasing (a rather strong contrast with generation X and Y). Thirdly, generation Z knows from a very young age which career path they want to take. Many of these people are self-taught and use the many technologies around them such as webinars, YouTube, podcasts to get ahead in their early careers. Career development is an important part of their life and they are ready to work more not so much for money, but for promotion. Generation Z in the next decade will begin to take more and more places in companies and employers who are not ready for this will lose young talented candidates. It is substantiated that in the modern labor market, the growth of platform employment stimulates representatives of generation Z to open their own microbusiness and early entrepreneurial activity - they are extremely competitive, determined and hardworking, with a spirit of competition and a desire to grow professionally.