Generation Z faces two major problems: the housing crisis and the refusal to work at all costs.

News JVTech Generation Z faces two major problems: the housing crisis and the refusal to work at all costs.

We must not alienate young people

Old people tend to criticize today’s young people. What they don’t understand is that it’s better to be on their side, because they will soon become one of the major labor forces in the market. If companies want to attract and retain their talent, they will have to adapt.

A recent Spanish study compared the incomes of people aged 22 to 24 with those of millennials of the same age ten years ago. It found that today, young adults earn about $45,500, while millennials of the same age earn $51,852 after adjusting for inflation. Although this study is American, the trend is similar globally. Even in Asia, young people face similar problems to young people in Europe or America.

At the same time, a massive crisis persists due to ever-increasing property prices, both for rentals and sales, particularly in cities. Often, it is baby boomers and older generations, who criticize young people for their complaints and desire to live well, who sell or rent at very high prices, creating another intergenerational conflict. Some analysts even speak of “intergenerational resentment”.

It was recently reported that renting a room in a shared apartment in Madrid or Barcelona now costs more than half of what renting the entire apartment cost a few years ago. Renting rooms has long been a strategy to avoid big expenses and save money. This is no longer the case today. Despite calls from the Minister of Housing for solidarity from owners to reduce prices, nothing is happening. Several protests have taken place in recent months regarding housing, with another planned for November 23 in Catalonia.

A demanding generation?

This difficulty in paying for housing does not mean that they are ready to accept any job at any price. Previous generations often remember taking any job to get by, but they forget that we are no longer emerging from a dictatorship nor living in post-war economies.

Generation Z grew up with education on labor and human rights. They understand that working long hours does not make one the owner of a business, but rather serves to enrich bosses and investors. As a result, they value work environments that respect schedules and promote flexibility, such as telecommuting.

They also prefer pleasant workspaces, with respectful communication, where managers provide regular feedback and where they can freely express their concerns or share their feelings.