A similar proportion (65%) of Gen Z workers reported that they would be more motivated in their current job, if they were given more entrepreneurial freedom, according to the findings of research commissioned by financial services provider American Express in collaboration with members club The Conduit.
Gen Z typically refers to individuals born between 1996 and 2012.
Of the 1,000 Gen Z workers polled, 62% reported feeling like they don’t have the opportunity to fulfil their potential in their current role.
To support Gen Z workers in fostering their potential, as well their leadership and entrepreneurial skills, managers should try to incorporate a project into the development plan of these employees, giving them an opportunity to foster or showcase entrepreneurial skills, suggested Jonathan Bourne, managing director of apprenticeship training provider Damar Training.
He told HR magazine: “Most Gen Z workers are still at an early stage in their careers and so are likely to have a development plan in place with their manager. Rather than stifling entrepreneurial aspirations – and risk losing your colleague – try to build a project into their development plan; something that allows them to have some freedom – and even a small budget – but is low-risk and beneficial to your business.”
Emily Rose McRae, senior director analyst at insights firm Gartner HR, added an additional two ways that HR managers can go about supporting and fostering the entrepreneurial skills of their Gen Z workforce.
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Speaking to HR magazine, she said: “One angle is in providing training and tools to help managers encourage entrepreneurial behaviours that benefit the organisation. Managers who favour a command-and-control style of leadership can often discourage or even stifle these kinds of behaviours and will need support in shifting to a more open management style.
“The other angle is in facilitating hands-on experience with leadership, innovation and risk taking, by establishing internal rotation programmes, hackathons, innovation hubs and other time-bound skill development opportunities.”
Research findings also revealed that 87% of Gen Z workers are confident in their collaboration skills, and eight in 10 are confident in innovative thinking (82%) and leadership skills (80%).
When it came to running their own business though, Gen Z workers pinpointed a lack of knowledge when it came to sources of business funding (34%) and the belief that they don’t have the right connections (23%).
Business leaders should work to support the entrepreneurial mindset of employees, advised Felicity Griffiths, business growth manager at advertising agency Wolfenden.
She told HR magazine: “Over the last five years, there’s been a major shift in how people relate to work. Gen Z has been leading that charge. They want control. They want autonomy. And in many ways, they’ve redefined what career success even looks like. So, how do we, as business leaders, support that mindset, without simply preparing them to leave and launch their own ventures?
“First, we must stop thinking in rigid career ladders. No two people have the same skillset, goals or ambitions, so why treat them like they do?
“If 67% of Gen Z aspire to own or lead their own business, isn’t fostering entrepreneurial skills just speeding up their exit? Maybe. But only if you’re not giving them a reason to stay. If they feel like they’re building something with you, not just for you, they’ll stick around. Let them leave their mark on the business, and that entrepreneurial itch is far more likely to be scratched within your company, not outside of it.”
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Sarah Danzl, chief marketing officer for learning and skills provider Skillable, added to this, emphasising that making the most of each employee's time at a company is more important that holding on to them for as long as possible.
She told HR magazine: “In today’s climate, no worker is going to stay at your company for life. Creating an environment where workers feel that they are consistently improving will keep people with your company for longer. But eventually they will leave, and your impact on their skills and career could influence their future buying decisions, their peer recommendations, or even if they return to your organisation decades later.
“Fostering entrepreneurial skills such as leadership, creativity, innovation and cross-functional skills in marketing, sales and finance, will benefit your organisation more than the risk of losing someone who leaves to own or lead a business.”
The research by American Express and The Conduit was based on fieldwork conducted by the polling provider Opinium, undertaken between 13 and 20 November 2024. The sample included 250 business leaders and 1,000 workers between the ages of 18 to 27 in the UK.
