Business View Magazine - October 2018

12 13 OPENING LINES FAILURE DRIVES INNOVATION, ACCORDINGTO SURVEY ONGEN Z W hen it comes to failure, Gen Z (people born from the mid-1990s to the early 2000s) is not afraid to embrace it. In fact,more than 80 percent of Gen Z think that embracing failure on a project will help them to bemore innovative and 17 percent believe that it will make themmore com- fortable to take on newrisks,according to a recent surveyof 1,400 GenZ individuals at the 22nd EY annual International Intern Leadership Conference (IILC) this summer. Designed to gauge Gen Z’s sentiment around the future of work as they enter the workforce, the EY survey found that this generation is eager for innovation and accepts that failure will likely be a part of the process. For Gen Z in particular, having the right mind- set is key to succeeding in the workplace. In fact, more than two-thirds (70 percent) believe it ismore important to be seen as having a curious and openmindset than a specific skill or expertise. Moreover,GenZ is not afraid to venture outside of their comfort zonewhen presentedwith a new challenge–with about a quarter (24 percent) being excited and honored for the opportunity. Gen Z is also not afraid to make mistakes, es- pecially when they are able to learn from them. Largely all of Gen Z (97 percent) is receptive to receiving feedback on an ongoing basis or after completing a large project or task, and 63 percent of respondents prefer to receive timely construc- tive feedback throughout the year. When it comes to their workplace preferences, Gen Zmales and females have some differing priorities.While the potential for growth is import- ant for 39 percent of respondents when looking for an employer, competitive salary is a priority for males (at 16.5 percent),while females (22 percent) prioritize flexible work opportunities. When faced with a problem to which they do not have the answer, 73 percent of females say their natural instinct would be to enlist the help of their peers,while only 63 percent of males agree. Interestingly,more females prefer to work with coworkers who can challenge and motivate them and that they can learn from compared to their male counterparts. The majority of respondents are optimistic about the future,with 65 percent citing that they feel confident they will be better off.