Characteristics of generations X, Y and Z

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Generation Y or the Millennials: digital natives

The revolution was shaped by the millennials or generation Y. Also known as digital natives, millennials are those born between 1982 and 1994 and technology is part of their everyday lives: all their activities are mediated by a screen. The concept of on and off is completely integrated into their lives. However, they were not born into it; they migrated to the digital world from the analogue one in which they were living.

Unlike previous generations, because of the economic crisis, the world requires them to be better trained to get a job, as competition is increasing. Unlike their parents, Generation X, digital natives are not satisfied with the world around them and are ambitious and want to achieve their goals.

However, the millennial generation is labelled as being lazy, narcissistic and spoilt. In fact, in 2014, Time magazine labelled them as the me-me-me generation. 

However, millennials are often labelled as lazy, narcissistic and entitled. In fact, Time magazine described them in 2014 as the “me me me generation”. This perception, however, is far from accurate. 

What millennials are really seeking are better tools to achieve their goals across all areas of life. They expect companies to provide continuous learning opportunities, a corporate culture that makes them feel valued and genuinely involved, a solid career path for professional growth and, above all, a healthy work-life balance.

Characteristics of the Z or Centennial generation (1995-2010)

Aged between eight and 23 years old, generation Z or the post-millennial generation will take the lead in a few decades. Also labelled as centennials, for having been born into the world at the turn of the century — the oldest were born in 1995 and the youngest in 2010 — they arrived with a tablet and a smartphone under their arms.

But what is Generation Z? It is a group of people that is marked by the Internet. It is part of their DNA: it storms into their homes, their education and their way of socializing. And if Generation Y has difficulty finding a job, the situation for post-millennials is even worse.

Their mastery of technologies may make them neglect their interpersonal relationships to a greater extent, but they are the ones who give more of a voice to social causes on the Internet. They like to get everything they want immediately, a fact fostered by the digital world in which they are immersed, and their lifestyle is also influenced by youtubers.

They multi-task, but their attention span is limited. They are independent and demanding consumers and will have jobs that do not exist in today's world.

Despite today's social diversity, generations Y and Z predominate. According to the study New Kids On The Block. Millennials & Centennials Primer by Bank of America Merrill Lynch, today there are 2 billion millennials and 2.4 billion centennials, representing 27% and 32% of the world population, respectively.

So what does generation Z expect? Due to the uncertainty caused by economic crises over the years and the emergence of new technologies such as Artificial Intelligence, they share millennials’ interest in continuous learning. However, their main priority is achieving a work-life balance, often placing it above climbing the corporate ladder. Nevertheless, income and financial security remain key factors. In addition, making a positive impact on society and the environment has become a defining motivation for centennials, something previous generations may not have prioritised.  

What will generation Alpha expect from companies? While this remains uncertain as they have not yet entered the workforce, it is anticipated that, driven by recent technological and social changes, they will seek greater opportunities for social interaction, increased flexibility, hybrid or remote working models and a strong corporate commitment to sustainability and social inclusion. They are also expected to demand stronger protection of mental health and digital privacy, ethical use of artificial intelligence and more personalised, technology-driven working environments tailored to their ways of learning and working. 

Generational diversity at Iberdrola 

At the Iberdrola Group, we promote generational diversity within our teams, seeking to leverage the knowledge, experience, values and languages that make each generation unique. 

Building intergenerational teams creates a mutually enriching dynamic that not only enhances productivity, but also has a positive impact on employee motivation and wellbeing, fostering innovation and occupational health.