The Daily Rundown

The Daily Rundown: Gen Z, Gender Wage Gap, Benefits of Small Business Saturday

Welcome to the Small Business Run Down. Each day, we bring you stories that impact small business owners and their workforce.

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Monday, Monday, Monday. If you have a mile-long list of holiday and end-of-year tasks to complete, consider procrastinating constructively by checking out the following stories about effectively recruiting members from Generation Z, the gender wage gap for self-employed women in Georgia, and the benefit of holding a second Small Business Saturday in your community. 

New Kids on the Block: Gen Zers looking for work 

Hiring managers, take note: the kids of Generation Z are all grown up and ready to work — all 65 million of them. So, when it comes to attracting, recruiting, and hiring employees from this generation, there are certain things that need to be taken into account. For instance, Gen Zers have grown up in an age of instant access and with unlimited information at their disposal, which will shape the way they expect to interact with employers, brands, and coworkers. Furthermore, 42% of Gen Zers report expecting to work for themselves. 

The Number: 1997. People from Generation Z were born after 1997 and they can’t remember life without the internet. 

The Quote: “With this generation, the onus is on employers to learn how to relate to and attract their next employees.”

Georgia home to the largest gender wage gap for entrepreneurs

The Peach state is not so peachy for female entrepreneurs. A new report indicates that women business owners in Georgia bring in, on average, $18,000 less per year than men. Research suggests that a record-breaking number of Americans are about to enter the independent workforce, with women making up a significant percentage of those making the transition. The good news? 73% of self-employed women say they have a better work-life balance.

The Number: 23%. Self-employed women in Georgia make 23% less than their male counterparts. The national average is 17%.

The Quote: “Pricing work to be both competitive and profitable is a persistent challenge for self-employed people overall. It can be even harder for women, one-in-four of whom feel they must discount their work in order to compete with men.”

Small Business Saturday 2.0 doubles opportunity to shop local

Towns and neighborhoods around the country have started a new trend — Small Business Saturday 2.0. While inclement weather was the impetus for some of the repeat designated days to shop local, many businesses have found that extending special hours, promotions, and sales has resulted in increased revenues throughout the holiday season. 

The Number: 10. This year was the 10th annual Small Business Saturday. 

The Quote: “Small Business Saturday is all about local businesses. It’s all about the little guy. It’s not about shopping at the malls. It’s about patronizing our neighbors, our friends so yeah, that’s why we’re here.”

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