What Gen Z's vision means for higher ed
In a 2023 GMAC report, candidates share their attitudes, interests, and dreams alongside their motivations and barriers to pursuing graduate management education.
Nalisha Patel, Regional Director, Europe, Graduate Management Admissions Council (GMAC)
Gen X navigated a digital transformation, Millennials pioneered the internet revolution, and now Gen Zs have been born into a hyper-connected world. As they begin to enter the workforce and higher education, it is fitting that AI is now on the precipice of intelligence, knowledge enhancement, efficiency creation and deep analysis.
While Gen Z will undoubtedly be at the forefront of AI’s development, this world has in turn shaped Gen Z, who bring a unique perspective to the concept of success. For Gen Z, success encompasses personal, professional, financial, environmental and relational dimensions. It is multifaceted, multidimensional and tailored, with significant implications for higher education institutions, who must adapt to meet the evolving needs and aspirations of this generation.
Earlier this year, GMAC published a report on Gen Z prospective students, applying to undertake a business or management course.
Stability in an uncertain world
Having witnessed the impact of COVID-19 and the unpredictability of several world events, from the survey, it seems that Gen Z has developed a keen awareness of the importance of stability in their career paths. Rather than seeking bigger titles within "flashier, innovative" companies, they prioritise industries and positions that offer longevity and security.
Mental wellness
Gen Z also values mental health and wellness, prioritising workplaces that promote well-being and offer resources for stress management. Companies that demonstratively prioritise employee mental health attract and retain top talent from this generation. They consider the opinions of family and friends’, and the concept of trusted advisors, important motivators in their career choices.
Personal fulfillment
Simultaneously, Gen Zs are keen on achieving fulfilling personal lives alongside their careers, and often see these as intertwined. They aim to strike a balance between their professional aspirations and personal goals, including relationships, hobbies, and experiences. This generation seeks workplaces that acknowledge the importance of a work/life balance, fostering environments where employees can thrive in both aspects of their lives.
Equal ambitions
With these priorities in mind, it is important to not confuse Gen Z as a complacent generation, they are actually a highly ambitious group. The survey shows that Gen Z increasingly strives for financial independence, understanding that it provides the freedom to make choices without being solely dependent on others.
It’s less about security, which we’ve seen in previous generations and more about the freedom of stability. This generation also possesses a strong desire to achieve their goals and make a difference in the world. However, their pursuit of success is now interwoven with emotional undercurrents. They want to feel a sense of pride in their accomplishments, deriving fulfilment not only from career achievements but also from contributing positively to society and the well-being of others.
Role of higher education
Gen Z values flexibility in their careers, seeking options that allow them to pursue their passions while maintaining a healthy work/life balance. Higher education institutions can respond by offering flexible learning formats, such as online and hybrid programs, that cater to Gen Z's desire for personalised and adaptable education.
It’s important to note that Gen Z prefers in-person teaching, but want the option to learn virtually if necessary. They also want to tailor work/learning to their lives, even if this means going occasionally learning virtually. This flexibility relates to acknowledging different learning styles too, and options to have multiple types of content consumption and assessment is therefore also important.
Gen Z's education and career successes are linked to their emotional well-being and personal growth. Together with the idea of being in ‘permacrisis’ means higher ed institutions should really invest in prioritising mental health support and wellness resources to foster a positive environment.
Although the generation places a high value on achieving a balance between their work and personal lives, they still have aspirations to attain leadership positions and become entrepreneurs. To help them achieve these goals, higher education institutions can continue to offer and expand opportunities for leadership development, mentorship programs, and hands-on learning experiences.
This will enable Gen Zs to shape and lead within their respective industries. There is a desire to be exposed to both large-scale business opportunities and small business experiences to hone different types of skills. To cater to their ambitions, fostering an entrepreneurial mindset and providing resources for launching start-up ventures can be highly appealing.
Gen Zs are looking for employers and educational institutions that conduct themselves ethically and exhibit a strong dedication to social responsibility. In order to attract and engage with this generation, higher education institutions should prioritise sustainability, diversity, equity, and inclusion efforts. Incorporating these values into the curriculum and campus culture will resonate with this socially conscious generation. It is important to note that offering optional modules or extra-curricular courses is not enough; Gen Z wants to see environmental, social, and governance principles at the core of their education and practised within the institutions themselves.
"Gen Zs are looking for employers and educational institutions that conduct themselves ethically and exhibit a strong dedication to social responsibility."
- Nalisha Patel, Regional Director, Europe, GMAC
A new vision
As the Gen Z cohort enters the world of higher education and employment, their concept of achievement challenges conventional beliefs and necessitates a more comprehensive approach. Universities, business schools, and higher education institutions must adjust their courses, support initiatives, and ensure their campus atmosphere cater to the complex, multifaceted and changing needs of this generation and the evolving needs to other generations at the same time.
By adopting adaptability, incorporating personal and emotional objectives, encouraging leadership and enterprise, and aligning with ethical values, higher education institutions can prepare Gen Z for success in an ever-changing world where change happens at a much faster rate than before. By acknowledging and responding to the Gen Z vision, institutions can facilitate this generation to make a significant impact on our planet, and lead fulfilling lives.
This article was published originally in QS Insights Magazine 7.