Latest news with #MarcieMerriman
Yahoo
28-07-2025
- Business
- Yahoo
Employers, beware: Gen Z is the ‘pragmatic generation' redefining success, seeing money as just a means to an end, landmark EY survey says
A seismic generational shift is underway, and its epicenter is Generation Z. Born from 1997 onward, Gen Z is coming of age in a world where traditional milestones like landing a lifelong job, buying a house in your twenties, or chasing wealth for its own sake have become difficult, or borderline impossible, in the modern economy. Gen Z has responded pragmatically, insisting, well, maybe they don't really want those things anyway. A massive new study from EY's Generational Dynamics core team, spanning more than 10,000 young adults across 10 countries and five continents, finds Gen Z is often misunderstood—and their measured approach should define them as the 'pragmatic generation.' The authors, Marcie Merriman and Zak Dychtwald, wrote Gen Z approaches 'life's traditional milestones' with a sort of 'reasoned skepticism.' According to Joe Depa, EY Global chief innovation officer, the research reveals how 18- to 34-year-olds are taking a surprisingly pragmatic approach to adulthood, finances, and their future. 'Far from being financially reckless,' Depa tells Fortune Intelligence, 'this generation is focused on long-term stability and redefining success along the way.' Money, for them, is necessary but not the be-all and end-all: 87% say financial independence is important, yet only 42% rate wealth as a primary marker of success, trailing far behind metrics like mental and physical health and family relationships. Put simply, for Gen Zers, financial stability is a tool—not a goal. They use money to open doors to flexibility, purpose, and well-being. Depa says the research 'tells a different story' about Gen Z. 'The idea that young adults are postponing adulthood is outdated.' They're approaching life milestones not with rebellion but with 'reasoned skepticism and a global perspective.' As employees and customers, Gen Z will challenge organizations that have been wired around a different way of doing things. For business leaders, understanding this shift will be vital to attracting and retaining talent. The job-hoppers Where baby boomers and Gen Xers often stuck with one employer for decades, Gen Z is dismantling that concept. EY's research found 59% of young adults globally expect to work for two to five organizations throughout their lives, and nearly 20% say they will work for six or more. This flexible approach to employment—embracing job changes and flexible gig work—reflects not only a desire for varied experiences but also a strategic response to rapid change, uncertainty, and a lifetime of economic instability. 'Younger generations are not merely reacting to financial constraints,' the EY Generational Dynamics team writes, but making rational and thoughtful decisions about what aligns with both their own lived experiences and the pitfalls suffered by previous generations. EY says it's a perspective that contrasts sharply with the 'pull yourself up by your bootstraps' mentality often espoused by older generations, with Gen Z finding that to be dismissive of their specific context. Redefining success: inside out, not outside in Success, in Gen Z's eyes, is an inside-out project: emotional well-being, strong relationships, and impact outrank titles and salaries. It's no longer about ticking the boxes of homeownership, lifelong employment, or even traditional family milestones. Landmarks such as marriage and children are being postponed—not out of rejection, but for pragmatic reasons: economic insecurity, housing unaffordability, and a desire to be emotionally and financially prepared. The rise of job-hopping has replaced the well-worn 'script' of adulthood: Only 59% see working for a single organization as a viable path, whereas nearly 20% of respondents said they plan to work for six or more employers in the course of their careers. Linear career ladders and employer loyalty are giving way to 'project-based' growth, taking new jobs, and side hustles, all in search of variety, autonomy, and purpose. 'Job-hopping is not viewed as a negative, but an essential step to open doors and advance opportunities,' the EY team writes. The average Gen Z respondent reports feeling like an adult earlier than previous generations, and as a result, more than half (51%) said they prioritize physical and mental health as their chief markers of success, with family ties also outranking wealth in many countries. The push for authenticity is also striking; 84% cite 'being true to oneself' as extremely important. Employers, beware (and evolve) For Gen Z, a job is not a life sentence, nor is money alone enough to keep them engaged. Employers used to loyalty and linear career ladders may be blindsided by Gen Z's willingness to prioritize purpose, wellness, and flexibility—even if it comes at the expense of job security or long-term benefits. Conventional incentives are losing their grip. For employers, this new pragmatism is both a wake-up call and an opportunity. Flexibility is mandatory, with hybrid and remote work, fluid hours, and support for 'micro-retirements' between jobs becoming nonnegotiable. Gen Z expects employers to have clear values around well-being, sustainability, and social justice—and to act on them. Over 70% want their employer to be transparent about values and pay, and are unafraid to challenge leadership if authenticity is found wanting. This generation will quickly leave if growth stalls: 57% would quit for better professional development. They crave mentorship, personalized learning, and a sense of upward mobility. Gen Z is less loyal to brands or employers unless that loyalty is returned; nearly half say they have 'zero loyalty' to brands, and only about 60% feel any loyalty to their employer. Empathetic leadership and honest, two-way communication are expected, not a bonus. Gen Z wants to be included in company decisions and expects a seat at the table. This finding aligns with separate research from Glassdoor, whose Worklife Trends report in June 2025 found emotional intelligence is now a standard expectation held by workers, many of them Gen Z. 'The bar on what constitutes a good manager has been raised,' Glassdoor chief economist Daniel Zhao previously told Fortune Intelligence. Employers slow to adapt to these realities won't just struggle to recruit Gen Z—they'll risk losing relevance altogether. The pragmatic playbook demands companies redesign everything from hiring and communication to values and pay structures. The flip side? Gen Z's pragmatism can also be an asset: They are technologically adept, mission-driven, and resourceful. But their skepticism can also translate into disengagement or even open dissatisfaction if workplaces fail to address their real priorities. Businesses would be pragmatic in their own right to tune into what Gen Z values most—authentic leadership, transparent communication, and support for well-being—if they want to retain this generation. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. This story was originally featured on Sign in to access your portfolio
Forbes
19-06-2025
- Business
- Forbes
Top EY Researcher Says These 3 Things Are Missing For Gen Z Workforce
Building the future of work with Gen Z. The new EY Global Generations Report 2024, based on a survey of over 22,000 individuals across 22 countries, offers critical insights into the evolving ambitions and workplace expectations of Gen Z (those born between 1997-2007). Inside a challenging job market, where both employers and students are questioning the value of a college degree, a non-traditional career path is emerging for high-growth organizations. For business leaders, and Gen Z job seekers, a roadmap to the future of work is being brought to life via a revised understanding of the authentic desires of the youngest generation in the workforce. For companies that want to create greater employee engagement and retention, particularly when working with Gen Z, these three critical elements are where the conversation begins. Marcie Merriman, Cultural Anthropologist at EY. That's according to Marcie Merriman, EY Global People Advisory Services Leader. In an exclusive interview with Forbes, she shared what organizations are missing, when it comes to Gen Z - and how the youngest generation can still find ways to realize their career goals. 'The ambition of Gen Z extends beyond material possessions,' she says via Zoom, referencing the EY study. In the survey, only 31% of Gen Z respondents feel financially secure - but there's more to the story. While nearly 9 out of 10 respondents prioritize financial security, less than two thirds want to 'get rich'. Indeed, wealth can be measured in many ways - including some things that money can't buy. Understanding the values of Gen Z is crucial in the hiring process, for forward-thinking leaders today. "The Gen Z cohort measures success by their mental and physical health, the impact they make, and their ability to live authentically," Merriman says. For Gen Z, this means seeking out roles and cultures that genuinely support their holistic well-being and allow them to connect their daily work to a larger purpose. For organizations, generational expectations demand a rethink on incentive structures and career paths, emphasizing training, leadership development and growth. Contribution, challenge and personal development are places to concentrate. Fostering environments where employees feel genuinely valued, challenged and fulfilled beyond their paychecks isn't easy in the age of AI - but difficult is not the same as impossible. Here are three critical elements that employers need, in order to attract and retain the brightest and best: For Gen Z job seekers, Merriman offers this critical mindset shift for career success: move from a supported to supportive mentality, at work. She says we have to let go of preconceptions around the way the world is supposed to work, so that we can really get to work on what matters. 'Gen Z has lived in a world where the world was designed around serving them,' Merriman says. From parents who tried hard to avert every crisis (including COVID, but it hit us all nonetheless), the feeling that the world is supposed to come to you, support you and protect you is an outdated idea. 'The mindset is, ''I'm supposed to be taught, I'm supposed to be educated.' So whether it's middle school, high school, college, this world is here for my benefit,' she explains. The hard part is shifting into the understanding that the employer is not here for their benefit. 'When you go into an interview, go in with the mindset that you are here to support that employer," she urges. 'In the process of asking questions about what the employer needs and wants, plus how they work, it gives you the opportunity to learn whether this is a place that fits with your values - what a Gen Z employee is looking for.' The interview process, Merriman says, is filled with people jockeying for position - not positioning themselves around authentic and clear communication. And that clarity needs to come from both sides of the desk (or screen, as the case may be). The blueprint for navigating the interview process is leading to disillusionment and frustration, for new hires and hiring managers alike. 'Gen Z's not getting what they thought they would get,' Merriman says. 'Maybe they have a mentality that they could fix it and change it. The employer's not getting what they wanted because they've sold something different. Often they're selling a different value proposition than what they're delivering. There's also a requirement of that paradigm shift around honesty: why you are in that space and is that reason a good fit with what you want as an individual?' she explains. Acceptance, for employers and Gen Z workers, is key. From an understanding of what's expected, needed and required, the best companies arrive at the ability to navigate the future of work. And that acceptance goes both ways, when new hires don't reach into a bag of 'interview tricks and techniques' in order to get the job, because they can accept the importance of serving and supporting an employer. If you are presenting an interview persona, and not an authentic person, the hiring process is not going to lead to aligned outcomes for either party. Authenticity is key, for employers and employees at every level. Being able to authentically accept who you are (as an organization, as an employee) and express those puts and takes with acceptance, candor and courage is vital to effective communication. And for Gen Z in the workforce today, adaptability begins with deeper understanding of what employers really need.
