55% GenZ women want to be their own bosses: Report
New Delhi: Half of all GenZ women (55 per cent) want to be their own bosses, up from 43 per cent in 2019, according to a new report. When asked what would drive their confidence, women surpassed men in saying �launching a business would most improve their confidence.
The findings are from the Girls With Impact’s 4th annual report, What’s Inside the Minds of GenZ… during COVID?’.
While it’s generally known that GenZ (ages 14-22) is the most purpose-driven generation, this heightened awareness came through this year as they have been reactive to the most pressing issues of 2020 — from #BlackLivesMatter to climate change to COVID-19.
In a shift from 2019, when asked how they want to make an impact, 63 per cent of GenZers said they want to “personally create something innovative” — now ranking as their number-one priority while 53 per cent want to become entrepreneurs.
Nearly one-half (47 per cent) want to work for a company that is doing something innovative. “People don’t go to work for the money — they want to make an impact,” said 16-year-old Neha Shukla, CEO of SixFeetApart.
“GenZ is taking action on the issues facing our world. This isn’t only demonstrated in their personal beliefs, but what they expect in the workplace,” said Jennifer Openshaw, CEO of the nonprofit, Girls With Impact.
Aside from success, getting a job, and mental health placing among their top three worries, concerns over racism took a leap. Racial worries jumped 6x with 6.8 per cent of all GenZers saying it was their single greatest worry vs just 1 per cent in 2019.
Diversity and inclusiveness translated into their workplace priorities; GenZ said they most valued “respect” and a “great manager” (vs an “older, experienced team” and “fun”, which ranked on numbers 1 and 2 in 2019). More women than men ranked diversity as a priority.
Turning to the toll of COVID-19, mental health worries have spiked 14 per cent since 2019, ranking third as a top concern – perhaps the result of seeing family members lose jobs. Worries about grades also rose, up 20 per cent over the previous year.
According to the report, GenZ women could see their confidence rise by becoming an entrepreneur in a 12-point jump – up to 55 per cent vs 43 per cent last year.
GenZ also shifted priorities from a short travel time and mentoring in 2019 to remote working and flexible hours – with greater attention to volunteer opportunities. GenZ women continue to have a lower compensation expectation – and the gender gap in earnings expectations has widened – with 39 per cent of men expecting to earn over $100K by 40 vs 27 per cent of women, said the report.
