As you’re working on bringing in the right people to help build your business, you might be wondering as to which generation of employees is more entrepreneurial minded: Gen Y or Gen Z While you might think having an entrepreneurial mind may mean these employees could one day leave your company to start their own, this mindset can make for better and more dedicated employees, ones who are willing to put in more work and effort to learn as much as possible and put that information to good use for your company. So which generation is more likely to have the attitude of an entrepreneur
Generation Y consists of people born between 1982 and 1993 while Generation Z is made of up individuals who were born between 1994 and 2010. In regards to which is more entrepreneurial-minded, the answer is Generation Z. While the Boomer generation can’t be completely ruled out and many of them do consider themselves to be entrepreneurs, the fact of the matter is a majority of them feel they lack the resources, support and freedom necessary to act as entrepreneurs inside of their current companies, also known as ïintrapreneurs.ï
Before discovering some of the reasons Gen Z is the most entrepreneurial-minded, you might be wondering as to what the multigenerational workforce feels about working for their current employers. A little more than a quarter of Boomer employees are unanimous in their decision to remain with their current employers, and the same is true of Boomers who feel their current jobs are a step in their overall careers. Rather than start wondering which of your employees is preparing to jump ship, focus on providing them with the tools and reasons to give you their all. You never know how instrumental you can be in changing their minds about the future of their careers.
One of the main reasons Gen Z is considered more entrepreneurial-minded than previous generations is they have easier access to resources that provide them with the knowledge they need to teach themselves how to put their business ideas into action. What’s more is that these resources are either free or easily affordable. What’s more is that the younger generation has more ways to access these resources, whether it be from their smartphones, computers or tablets, which allows them to learn anywhere.
Gen X also have access to educational programs, such as The Network for Teaching Entrepreneurship, that earlier generations didn’t. This specific program is designed to provide high school students with entrepreneurial training. There are also special programs that offer large sums of money (think $100,000) to entrepreneurs who are willing to start their businesses instead of go to college. When combined with the resources Gen Z can access on their own, it’s no wonder they’re considered more entrepreneurial-minded.
Maybe it’s Gen X being pressured by their Boomer parents, but findings show younger individuals are more likely to experience more pressure from their parents to put more of their focus on their careers, even while still in high school. What’s wrong with parents pressuring their children is they aren’t aware of how their children can get the education and experience they need to have fulfilling careers. The upside to this is that it’s made high school students more independent as they use current technology and resources to find the necessary education and experience, which is sure to help them in their future careers.
Ask some of your older employees how old they were when they had their first mentor, then do the same for your younger employees. Technological advances and trends have made it easier for the younger generation to reach out to mentors and entrepreneurs they admire and for mentors and entrepreneurs to reach out to young talented individuals. And these mentors don’t always have to be older. There are more young entrepreneurs than ever before, which shows Gen X that’s it’s possible for them to become millionaires before they reach the legal drinking age.
In addition to professionals, colleges have also started reaching out to high schoolers who are interested in learning about product development, operations, finance and venture planning. One of the reasons colleges and companies have started cultivating the younger generation’s interests now is because those colleges and companies know there’s going to be a shortage of skills as workers start to retire.
For ways to help your employees become more entrepreneurial-minded (no matter their generation), be sure to check out the tools and articles on Mighty Recruiter.