EY Study: Failure encourages innovation, as Generation Z thinks

EY Study: Failure encourages innovation, as Generation Z thinks

More than two-thirds of Z respondents say it's more important to cultivate a vivid curiosity and an open mind to new things than training a certain set of skills.

When it comes to failure, Generation Z is not afraid to accept it.

In fact, more than 80% of Generation Z representatives believe that accepting failure within a project helps them to be more innovative, and 17% believe that failure makes them easier to accept new risks, according to a recent EY study conducted in 1400 of People in Generation Z at the 22nd edition of the International Intern Leadership Conference (IILC).

Designed to evaluate Z's generation's outlook on the future of the labor market as they prepare to join, the EY study found that this generation is passionate about innovation and accepts that failure is part of the process.

 Z Generation Mentality

Especially for Generation Z, having the right mentality is essential to success at work.

In fact, over two-thirds (70%) of the representatives of this generation think it is more important to be perceived as an open and curious person than to have a specific skill or knowledge.

In addition, Z Generation members are not afraid to face a new challenge, nearly a quarter of them (24%) being excited and honored by such an opportunity.

Generation Z is not afraid to make mistakes, especially when it can learn from them.

Nearly all Generation Z representatives (97%) are open to evaluation constantly, or after a project or task is over, and 63% of respondents prefer to receive constructive feedback at a point throughout the year.

As far as job preferences are concerned, men and women in Generation Z have some different priorities. While potential for growth and development is important for 39% when looking to hire, a competitive salary is the key priority for men (16.5%), while women give more importance to program flexibility - a percentage ( 22%).

"Generation Z enters a world transforming the paradigm. Parents and grandparents of the Z generation have experienced educational stages - work - resting in a linear fashion, while they will have a different trajectory.

Young people who are now entering the world of work will approach these 3 stages of life as a digital age on how we work. The extremely dynamic economic landscape, new skills requirements every 5 years, the fact that the retirement age is constantly increasing, while the pension system becomes limiting, all these factors make the Z generation one of the most elastic> >.

It is extremely welcome that the Z generation shows flexibility and availability for innovation and openness for its failure, for learning and reinvigoration cycles and, above all, for workplace diversity.

Beyond all these positive aspects, the one I enjoy the most is that they seem to be more willing to receive feed-back to develop in relation to the Y generation, for example, who tends to give up rather than to confront a mirror that does not correspond to its own image.

It is also noted the same rush to new and diverse experiences or external elements that maintain a high level of adrenaline, which requires organizations to continue to come up with an agile display space to allow them to experience , but at the same time, through a balanced generation of generations, to achieve its goals of stability and continuity, "says Andreea Mihnea, HR Director, EY Romania and Moldova and EY South East Europe Talent Leader.

The power of partnership

Despite the fact that jobs are digitizing more and more, over 90% of Generation Z members prefer to have a human component in their teams, whether they work exclusively with their colleagues in the innovation area or with colleagues and with new technologies.

It is noteworthy that more than twice as many men (11%) prefer to work with new technologies to enable them to perform their tasks faster and take up activities with a higher degree of difficulty than 5 % of women who agree with this idea.

When faced with a problem they do not have a solution, 73% of women said the first thing they would do would be to help colleagues, compared to 63% of men who would do the same.
Also, more women than men prefer to work with colleagues who can provoke and motivate and from which they can learn

How future talents see the future of work

When working in a team, nearly two-thirds of respondents (63%) consider the most important thing to work with people with different levels of education and skills; another 20% believing that people from different cultures (ethnic / country of origin) are the most important factor of a team.