Written by Claire O'Brien
Imagine coming of age in a world that makes the volatility of the Bitcoin market look stable. That鈥檚 the reality for Gen Z, those .
In an era defined by unpredictability (climate change, a global pandemic, financial crises and international conflicts), it鈥檚 not surprising that Generation Z takes a different approach to risk than previous generations. What is surprising is how cautious that approach can be. Also known as 鈥,鈥 they are shaping up to be more pragmatic than millennials.
The drawback? They may struggle to develop essential coping skills and may miss out on certain . Calculated risks, after all, can lead to new career opportunities, foster business innovation, teach us lessons from failure and help us step out of our comfort zones to experience personal growth.
So, what happens when an entire generation, shaped by the uncertainties of its times, leans toward avoiding risk 鈥 but only in certain situations? Jamie Johnson, MS, NCC, CCC, career advisor at 澳门天天彩开奖记录, weighs in.
Generation Z鈥檚 risk aversion has captured the attention of many researchers, who look at everything from their financial strategies to Interestingly, studies reveal this rising generation tends to blend caution in some areas, like , with boldness in others, such as their comfort level with sharing .
Johnson comments on this dichotomy: 鈥淲e have to go back to their foundational experiences and what influenced them to make the certain choices they鈥檙e making now. For example, one Gen Z client shared he is seeking new work opportunities in Bitcoin, part of the crypto revolution in digital investing. He loves the idea of risks and possible rewards and helping people make new choices in investing. Yet he still lives at home and would prefer to work remotely.鈥
That blend of practicality and boldness not only defines Gen Z鈥檚 present choices but also has implications for how they navigate their education and careers, trends that will ultimately shape future business culture.听
So, how does Generation Z鈥檚 approach to education and career stack up against their risk aversion? Johnson has observed a shift in overall educational preferences, noting the generation鈥檚 inclination toward more practical and secure options.
鈥淭hey鈥檙e making all the traditional choices that students make, but there鈥檚 a more practical bent to what they choose because they鈥檝e come through a pandemic,鈥 she says.
While traditional education pathways 鈥 including higher education and various majors 鈥 still attract Gen Z, their career expectations may have changed. Johnson notes that future earning potential is a genuine concern, but so is interesting work combined with a .听
As Generation Z is expected to make up , their unique attitude toward risk could potentially make for a dramatic shakeup at work. Johnson specifically predicts a new wave of flexibility driven by the younger cohort鈥檚 work鈥搇ife balance expectations.
鈥淲e鈥檒l see more opportunities for people to be flexible with their work,鈥 she says. 鈥淓ven in the corporate setting, I think we鈥檒l see more freedom with that. And I think that will be the new wave of creativity in the workplace because that鈥檚 normal for them. They expect it.鈥
Employers, meanwhile, need to take note. 鈥淚 know a recent grad who is not interested in working hybrid or in an office due to his high anxiety 鈥 and he鈥檚 not the only one,鈥 Johnson says.听
Gen Zers鈥 aversion to certain risks and insistence on work鈥搇ife balance may be partially explained by their personal experience with mental health: ages 18 to 24 reveals that 42% have a diagnosed mental health condition.
Even more startling, 31% rated their overall mental health as poor in 2022.
On the positive side, 87% of the survey participants feel comfortable talking about mental health 鈥 and are more likely to have taken mental health days off work or school and discuss mental health issues with supervisors. This willingness to prioritize and discuss mental health in their careers and personal lives may drive employers to offer digital and in-person mental health-based benefits.
鈥淔lexibility to take care of themselves and their family is important when considering joining a company,鈥 Johnson adds.
The current narrative of Generation Z鈥檚 risk aversion is only the beginning.
Johnson explains: 鈥淭hey will take risks, but we need to define what it means in their world. They dealt with COVID-19. They dealt with a world turned upside down. And the world has changed 鈥 technology brings the workplace to them, and that means the world is their oyster. How they take risks won鈥檛 be the way a baby boomer or Gen Xer would look at it, because that wasn鈥檛 even available.鈥
This generation鈥檚 approach to risk has been shaped by transformative global events and the generation鈥檚 unparalleled digital connectivity. Bear this in mind then as they carve out their space in the workforce over the next decade, especially with regard to leadership.
鈥淭hat鈥檚 when we鈥檒l see true work鈥搇ife balance,鈥 Johnson predicts. 鈥淭hey鈥檙e going to be leading the charge. Millennials brought it. Gen Zers will make it happen. They鈥檒l be great bosses to work for.鈥
Whether you鈥檙e a Gen Zer, Gen Xer, millennial or boomer, UOPX offers a variety of resources to help students, alumni and others prepare for their career journeys. Explore the following resources.
LinkedIn is a registered trademark of LinkedIn Corporation and its affiliates in the United States and/or other countries.
A graduate of Johns Hopkins University and its Writing Seminars program and winner of the Stephen A. Dixon Literary Prize, Michael Feder brings an eye for detail and a passion for research to every article he writes. His academic and professional background includes experience in marketing, content development, script writing and SEO. Today, he works as a multimedia specialist at 澳门天天彩开奖记录 where he covers a variety of topics ranging from healthcare to IT.
Christina Neider is the dean of the 澳门天天彩开奖记录 College of Social and Behavioral Sciences.听Neider鈥檚 career spans more than 30 years in academia, healthcare and the U.S. Air Force. She has held several academic leadership roles at 澳门天天彩开奖记录, and she is the Vice President of membership for the Arizona Chapter of the Healthcare Information and Management Systems Society.
This article has been vetted by 澳门天天彩开奖记录's editorial advisory committee.听
Read more about our editorial process.
Read more articles like this:
November 13, 2023 鈥 7 minutes
April 01, 2024 鈥 6 minutes