Generation Z challenges in 2021: lack of resources and financial education, career guidance and managing emotions

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Lack of financial resources (77%) and education (60%), lack of motivation (65%) and career counselling (59%), and fluctuating emotional states (49%) are the main challenges facing young people in Romania today, more than a year after the start of the pandemic, according to the latest national PulseZ Insights survey.

The “Insights PulseZ” survey, now in its second edition, was designed and coordinated by the specialists of the national entrepreneurship programs “I want to be Entrepreneur” (VSFA) and “Insights” – from the Romanian Business Leaders (RBL) organization and conducted by the market research agency IZI data, in July this year, among around 1,200 young people in Romania. The research focused on capturing the states, behaviors, interests and desires of young people in Romania in the new pandemic context, members of Generation Z (those born after 1995, also known as iGeneration, Centannials or “digital natives”), in the last months of this year (July 2021), compared to the 2020 wave (May-June 2020, when the first edition of the study was conducted).

“Through this study we aimed to analyze the behaviors and states of young people in Romania, their interests and motivations, in this pandemic context, compared to what 2020 meant for them, so that we can understand their action and consumption decisions, development plans, as well as their perception of today’s world and the new reality. Generation Z is considered to be the first generation born in a time when the internet and new technologies are widely available, as these young people are highly connected to the digital environment and avid consumers of social media – companies, organizations, but also authorities relate to their preferences in building business strategies”, points out Alin Claudiu Apostu, Insights study coordinator and Project Manager in the national programs “Insights” and “I want to be an Entrepreneur”.

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“Those who don’t look at Generation Z, who don’t model themselves after them, will become misfits sooner than they expect. The future is already happening and it’s happening fast. Often, the relevance of Generation Z is underestimated because the financial power of this generation is lower. However, the strength of Generation Z is already manifesting itself, through its power to influence the older generations but also through young people’s non-alignment with traditional social structures. Gen Z stands out in all our studies, digital natives are structurally different. With the PulseZ Insights study we set out to understand it in depth, to actively prepare for what’s next,” says Silvia Luican, founder of IZI data.

In 2021, Generation Z experiences fatigue, fluctuating emotional states and financial problems

Almost a year and a half after the start of the coronavirus pandemic, young people of generation Z in Romania said they feel more tired (50% in 2021 vs. 34% in 2020), that they face fluctuating emotional states (49% in 2021 vs. 37% in 2020), but also moments of uncertainty about the period to come, taking into account the current tensions in the personal and professional sphere (32% in 2021 vs. 26% in 2020).

At the same time, the data show that in 2021 young people feel the deprivation in Romanian society more strongly than a year ago. The most important gaps mentioned by Generation Z representatives are financial resources (77% in 2021 vs. 59% in 2020), followed at a considerable distance by the lack of career counselling (59% in 2021 vs. 47% in 2020), as well as the problem of bureaucracy and lack of digitalization (55% in 2021 vs. 32% in 2020), as well as lack of moral support from those close to them (50% in 2021 vs. 34% in 2020) and, last but not least, lack of access to non-formal learning programs – courses, leadership programs (48% in 2021 vs. 37% in 2021).

Personal organization, financial literacy and technology – at the top of skills development

Participants were asked about the skills/areas they need and would like to learn to develop. The top skills mentioned by the respondents are slightly different from last year, and the explanation lies in the economic context Romania has been going through in the last year. Thus, while personal organization (time management, personal productivity) remains at the top of the list of preferences (60%), in 2021, the need for financial and investment education increases significantly, reaching the top of the list of young people’s needs (60% in 2021 vs. 51% in 2020).

While girls are more likely to mention the need to learn to manage their emotions better (66% girls vs. 40% boys), boys are more likely to mention financial education (64% boys vs. 56% girls), technology (44% boys vs. 29% girls) and teamwork (30% boys vs. 21% girls).

As for young people’s career plans, 1 in 3 Generation Z respondents say they plan to work in Romania and 21% of them are thinking of continuing their studies in our country. Only 12% of respondents say they want to work abroad and just as many plan to open a business.

Young people’s preferences for digital consumption and social media platforms

Most of the survey respondents (43%) said they spend between 4 and 8 hours in front of screens every day, followed by almost a third (28%) who say they spend between 8 and 12 hours in front of screens. There are no gender differences in the amount of time spent in front of screens, but more 19-21 year olds spend between 8-12 hours in the digital environment (32% vs. 24% 16-19 year olds). Also, more urban young people (31%) spend between 8-12 hours browsing screens compared to rural young people (25%).

In terms of Generation Z’s favorite social media platforms, Instagram is the main channel used by a third of young people in Romania (33%), followed by Facebook (22%), YouTube (17%), WhatsApp (13%) and TikTok (12%). 16-18 year olds use Instagram more (47%) than other young people in the 19-21 and 22-24 age groups respectively, mentioning it as the top favorite, with mentions gradually decreasing with age: Instagram is replaced by Facebook, which comes in first place among 22-24 year olds (28%).

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