Stat: Gen Z to surpass Boomers in full-time workforce by early 2024

US – A November 2023 report by Glassdoor on 2024 Workplace Trends suggests Gen Z workers are poised to overtake Baby Boomers in the full-time workforce by early 2024. Despite ongoing labour market fluctuations, this transition marks a pivotal moment in workforce demographics, signalling the rise of the younger generation.

For decades, Boomers held sway as the largest generation in the full-time workforce, a position they maintained from the late 1970s until the latter part of 2011. Subsequently, Gen X briefly claimed dominance from 2012 to 2018 before being overtaken by Millennials. Millennials still outnumber Gen Z, however, with projections suggesting their continued dominance well into the 2040s.

Nevertheless, Gen Z’s ascent signifies a cultural transformation that US companies cannot afford to overlook. Known for their emphasis on community connections, a desire for a voice in the workplace, a demand for transparent leadership, and a focus on diversity and inclusion, Gen Z’s rapid integration into the workforce promises a significant impact on corporate culture and operations.

‘Companies inevitably tailor their culture and their benefits to the types of workers that they are trying to attract and trying to retain,’ Glassdoor’s chief economist Aaron Terrazas told Business Insider. ‘We know that the types of workplace culture and benefits that Gen Z value are different than Baby Boomers.’

As explored in our Work States Futures macrotrend, businesses must adapt to the evolving values and expectations of this emerging workforce generation to remain sustainable and relevant employers.