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Gen Z is less like millennials, more like those raised during the Great Depression

(BUSINESS NEWS) Research is emerging on what’s different about GenZ and it’ll be crucial for businesses and entrepreneurs to keep it in mind as this generation enters the workforce.

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The great divide

Also called “iGen” or “centennials”, Gen Z is what’s coming after millennials. According to the most common calculations, the youngest of GenZ are in kindergarten and the oldest are just entering college. But there’s a good argument to put the division earlier. For example, anyone born in 1995 or younger would not have the cognitive ability to have 9/11 be the shocking and worldview shifting event that it was for those born later. And that’s one of the distinguishing events that researchers look for.

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Some other distinguishing characteristics: members of this cohort don’t remember a world pre-9/11, or pre-economic 2000 and 2008 economic crisis, or even pre-smart phone. The youngest of them will not know that phones didn’t always make video calls.

Wherever you draw the line, Generation Z represents around 60 million young Americans (over a million more than the millennial generation) that promise billions of dollars in purchasing power.

Are they just a new kind of millennial?

The director of the Innovation Group at J. Walter Thompson called GenZ “millennials on steroids” but a different picture is emerging. Unlike the millennials, who were raised by baby boomer parents in a relatively peaceful and prosperous time only to be shattered by 9/11 and the economic crises, Generation Z was raised during the war on terror and the financial downturns. And that means they are going to look a lot different as they enter the workforce and the economy.

In fact, the generation they might be most similar to is the “Silent Generation” raised during the Great Depression of the 20s and 30s.

That generation went on to be the career focused achievers of the 50s and 60s. They were also one of the richest generations in history.

Generation Z has the “weight of saving the world and fixing our past mistakes on their small shoulders” according to Fast Company. Research is emerging on what’s different about GenZ and it’ll be crucial for businesses and entrepreneurs to keep it in mind as this generation enters the workforce.

Diversity

Generation Z is so diverse that diversity isn’t really noticed or talked about until it’s NOT present. They won’t really remember a time before we had an African American president, or a time before comprehensive legal gay marriage. So while they might not be talking about it all the time, they will notice when it’s not there.

They expect it on such a basic level that they don’t spend a lot of time discussing it.

Technology

The millennials were described as tech-savvy but tech-dependent might be a better phrase. Gen Z has this aspect too – they don’t know how technology works but they are immersed in tech all the time. But one important distinction is privacy concerns.

Where millennials were the Facebook generation, Gen Z leans towards platforms like Whisper and Snapchat.

As “digital natives” they are aware of and even curate their online presence.

Finance

The next generation isn’t going to shop like any previous generation. According to one researcher they will “break a lot of business”. They aren’t going to shop in-person when they’ve grown up with amazon prime. They are going to ask why anyone would expect them to drive to car lot to pick out a car. Romans Wear Daily called them “next big retail disrupter” and the industry should be ready to change with the times. There’s also research that Gen Z already values saving over spending.

People might disagree about where the generation starts and ends, but everyone is sure that they will be a game changer.

#GenZ

Felix is a writer, online-dating consultant, professor, and BBQ enthusiast. She lives in Austin with two warrior-princess-ninja-superheros and some other wild animals. You can read more of her musings, emo poetry, and weird fiction on her website.

Business News

Skilled workers can live in any city they wish and still get work [study]

(BUSINESS NEWS) A 2018 study reveals that remote work is on the rise, and the ultra skilled workers can work from any city they wish.

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A 2018 study that surveyed 1,005 hiring decision makers commissioned by Upwork sheds some interesting insights on the attitudes around remote workers and the challenges hiring managers are experiencing finding talent. The remote workforce is the future after all and this study offers both insight into challenges and solutions.

It was noted that talent is becoming harder and harder to find (up to three times more difficult than in past years). Meanwhile, remote work is on the rise, according to 55 percent of managers.

The overarching attitude toward offices becoming temporary anchor points is increasing, indicating that commutes are becoming less common (albeit slightly). Companies are increasingly embracing remote work, and according to 38 percent of those surveyed, it will become the predominant workforce.

A major challenge remains that company policies aren’t caught up to remote work – they are lagging behind or non-existent according to 57 percent of organizations.

Over half of all companies surveyed are using more temporary, contract, or freelance workers and the majority of hiring managers believe agile teams will become the norm in the near future.

Perhaps the juiciest tidbit, the fact that skills are viewed as more important than location suggests that at the end of the day…

remote workforce

If you have the skills, you can live basically anywhere. Remote and freelance work offers a variety of opportunities and means you don’t have to be synchronously local to a team to get work done. This means that you don’t need to be in a big city like New York or Los Angeles to get the big work and have access to opportunity.

Companies are struggling to find talent, and despite a lack of policy support, are opening up to remote work. Adding to this challenge is that more and more Americans are less mobile, due to concerns about cost of living (or other things in our lives), hiring managers are having a harder time finding the right talent to fill their own vacancy.

Skilled workers (those who have the abilities that are in demand and desired by their industry) have the ability to pick and choose where they want to live and it looks like now and the future, companies are coming to meet them. This is good news, and offers more and more opportunities, as well as flexibility for hiring managers.

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Business News

Indeed and Glassdoor are now owned by one Japanese company – what’s next?

(TECHNOLOGY) Now that Glassdoor and Indeed are owned by an international brand, how will their main competitors (and search engines) react?

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This year, Glassdoor, one of the most popular job and recruiting sites, has been acquired by Recruit Holdings Co. Ltd. (RCRRF), a Tokyo-based firm in a $1.2 billion cash transaction to become part of Recruit’s growing Human Resources Technology segment.

Recruit Holdings operates Three areas of business: HR Technology, Media & Solutions, and Staffing. In 2012, they acquired CT-based Indeed, which continues to be the number one job site in the world. Glassdoor will continue to operate independently as a part of Recruit Holdings, which holds companies in North America, Europe, and Asia, but it is noteworthy that a Japanese company owns two of the biggest players in the job search game.

The possibilities from this merger are not yet clear, but given that Recruit holds both Indeed and Glassdoor, the opportunity for integration and grouped pricing could eventually be useful for recruiters and HR/Hiring professionals. Although the company has not formally announced that integration is a possibility, considering the stiff competition from LinkedIn Jobs – it would be a great way to gain some competitive advantage.

The acquisition could help Recruit take on Microsoft (who owns LinkedIn) and Google to keep the two from dominating the online job boards, to which are essential for job seekers and talent seekers.

Of course, nothing is set in stone, but the possibilities are there. Recruiters should consider the possibilities for pricing and plan for how they will use the platforms (and how they will integrate Google for Jobs) to best collect the candidates they need.

Job seekers be prepared for more logins and more search sites for jobs and recognize that the possibility of Google no longer indexing Glassdoor (just as Indeed is not indexing on Google jobs).

The conflict between Indeed/Glassdoor, Microsoft, Google, and maybe even Facebook (look at Facebook.com/Jobs) is going to be an interesting battle to watch. JobBoardDoctor described the conflict of Indeed vs. Google as an old-west shoot out at high noon.

I suspect that with all four players in – it’s going to be a cold war in the recruiting world. Sit tight folks. Let’s see whats next!

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Business News

This fake company weeds out crappy clients

(BUSINESS) The former CEO of Highrise used a fake website to weed out toxic clients. How can you keep problematic customers out of your business?

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weeding out toxic clients

Sorting through your client list to weed out potentially toxic customers isn’t a process which garners the same attention as a company removing problematic employees, but it’s every bit as important — and, in many cases, twice as tricky to accomplish. One innovative journalist’s solution to this problem was to set up a fake website to act as a buffer between unwanted clients and his inbox.

If you’re anything like Nathan Kontny, your inbox is probably brimming with unread emails, product pitches, and pleas from people with whom you’ve never met in person or collaborated; unfortunately, many of these “people” are simply automated bots geared toward generating more press for their services.

Nathan’s response to this phenomenon was to create a website called “Trick a Journalist” in order to see which potential clients would sign up for the service.

Hilariously enough, the trap worked exactly as planned. Anyone signing up for Trick a Journalist was blacklisted and prevented from signing up for Nathan’s CRM software, with Nathan’s justification being that the CRM software in question should never be used for something so egregiously predatory as Trick a Journalist.

By creating a product which sets apart unwanted clients from the rest of the pack, Nathan succeeded in both attracting and quarantining present and future threats to the integrity of his business.

While this model may not be practicable at face value, there’s an important lesson here: determining the lengths to which your clients will go to gain the upper hand BEFORE working for them is an important task, as your clients’ actions will reflect upon your product or services either way.

Ruthlessness in business isn’t unheard of, but you should be aware of your customers’ tendencies well in advance of signing off on their behavior.

Of course, one minor issue with Nathan’s model of operation is that, invariably, someone will connect Trick a Journalist to his brand and miss the joke entirely.

There are less risky routes to weeding out potentially problematic clients than blacklisting them via a satirical website — though one might argue such routes are less fun — but the end result is essentially the same: keeping unsavory clients out of your inbox and off of your product list.

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