Surge in Gen Z women wanting to be their own bosses

There’s a huge rise in Generation Z women wanting to be their own bosses, rather than lead at established firm, according to Girls With Impact’s 4th annual report.

Entitled What’s Inside the Minds of Gen Z… during COVID?, the report reveals that over half of all Gen Z women (55%) want to be their own bosses – up from 43% in 2019. However, far fewer expect to make it as leaders within established organisations, with a staggering 64% of Gen Z women saying they are either “unsure” or “unlikely” of ever becoming one.

The report, sponsored by US Bank and Forcepoint, looked at the worries, priorities, confidence and workplace preferences of Gen Z women and men (ages 14-22). While it’s generally known that Gen Z is the most purpose-driven generation, the report explored how pressing issues of 2020 – from #BlackLivesMatter to climate change to Covid-19 – have impacted this generation.

GEN Z GIRLS WANT TO INNOVATE

According to the report, 63% of Gen Z women said they want to “personally create something innovative”. This now ranks as their number-one priority,  while 53% want to become entrepreneurs compared to 46% in 2019. Additionally, nearly one-half (47%) 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,” pointed out 16-year-old Neha Shukla, CEO of SixFeetApart. “Gen Z is taking action on the issues facing our world,” added Jennifer Openshaw, CEO of nonprofit Girls With Impact, an online business programme for Gen Z women. “This isn’t only demonstrated in their personal beliefs, but what they expect in the workplace.” 

WORKPLACE RACISM & WELLBEING CONCERNS

New concerns over racism are also translating into the workplace. Aside from success, getting a job, and mental health, worries over racism took a leap. In fact, racial concerns saw a six-fold increase. Approximately 6.8% of all back Gen Zers say that it’s their single greatest worry, compared to just 1% in 2019.  

Covid-19 has also taken its toll on this generation. Mental health worries have spiked 14% since 2019, ranking third as a top concern. The study attributes this to seeing family members lose jobs. Worries about grades also rose – up 20% over the previous year. Around 60% of Gen Zers said they are spending more time on social media and 49% on streaming video this year. Additionally, around 30% expect to live with their parents for the foreseeable future.

ATTRACTING GEN Z WOMEN TO THE WORKPLACE

“As business leaders at the forefront of innovation who are responsible for reshaping an industry, we recognise that in order to drive meaningful change, we must value diversity of thought,” said Ben Tao, Vice President, Corporate Marketing of Forcepoint, a privately owned cybersecurity firm. “Today, more than ever, it’s paramount for organisations to provide the tools and resources to prepare Gen Z for bright careers of the future.”

So how can organisations attracting Gen Z women into the workplace? The report offers a host of recommendations for employers and educators including offering mental health education and outlets, harnessing the desire for innovation through corporate “intrapreneurship” and improving mentor matching. 

Click here to download the report.