Attitudes towards Gen Z appear to be mostly mixed, with some employers appreciating their impact and ability to initiate positive change in the workplace, while others report them challenging to work with due to their unique attitudes and expectations.
However, this fastest-growing generation, which is rapidly taking over where Baby Boomers are retiring, is making waves regardless and breaking out of employment traditions that many Gen Xers and Boomers have lived through and endured comparatively passively, while compelling employers to adjust to the new norm.
A Soter Analytics October report uncovered some of the main concerns and expectations that Gen Zers tend to prioritize whenever deciding on a career opportunity or weighing up a job offer. Some of the key priorities highlighted included pay, flexibility, and growth opportunities, and show an interesting post-pandemic perspective in overall career attitudes as Gen Z are set to dominate the workplace.
Pay
According to the report, 46% of Gen Zers regarded salary as a primary factor when deciding to accept a new career or job opportunity. This is easily understandable: a U.S.-wide study demonstrated that one in four Gen Z in the U.S. work while studying to financially support their parents due to the recession and cost of living crisis, while two-thirds lack money to cover their own basic needs. Of those who combine work and study, 22% do so to support their parents financially, while some 72% combine work and study because they need extra cash to cover basic needs.
This combination comes at a cost: 32% struggle with mental health issues, while 50% sacrifice sleep or time for leisure. Devastatingly, one in 10 of those who combine work and education are mocked by their peers, and one in six are forced by these financial circumstances to put dating on hold.
Therefore when deciding on their careers, Gen Z usually prefer industries that tend to boast higher salaries especially from entry-level, including tech and consulting, both of which are dominated by world-famous companies within Big Tech and the Big Four.
Flexible Working
Approximately 40% of Gen Zers surveyed in the Soter Analytics study consider flexible hours and workdays as a deal-breaker when deciding whether or not to accept a job offer. In fact, a Deloitte report showed that 75% of respondents would prefer a job that offered full flexibility over one with a high salary.
Gen Z is concerned with making work fit around their lifestyle, and not the other way around. They are leading the way in transforming policies about how work should be done, which is already beginning to result favorably in employers emphasizing flexible benefits as a key attraction for job postings.
Growth Potential
Many Gen Zers regard certain industries such as manufacturing or construction as limiting their career potential, and therefore are more hesitant and less enthusiastic about pursuing such roles, viewing them as more of a short-term gig. They tend to prioritize a clear route into corporate roles at management and senior levels. An estimated 74% of Gen Z are ambitious to learn new skills and develop professionally, and don’t appear to shy away from maintaining their professional development and training, even over the weekends.
One study noted that two-thirds of Gen Z employees are currently searching or likely to search for a new job within the next six months, and these young professionals are increasingly turning towards global companies for growth opportunities to advance their careers and acquire new skills.
Employers who want a successful workforce will need to revisit their entire talent attraction strategy and company culture. Gen Z demand to be heard and have their voices respected on areas that matter the most to them and to society at large; they are quickly expanding across the global population and have full careers ahead of them. To encourage and attract this talent necessitates reasonably higher salaries, solid career progression pathways, and flexible working solutions that encourages employee input wherever possible.
This group forces employers to do one of two things: either adjust to the wave of young talent which is set to dominate a 30% share of the global workforce by 2030, or remain stuck in tradition and refuse to change. The downsides are evident. If employers want to remain relevant and maintain their employer branding to attract fresh, innovative talent, they must move with the times and embrace change, adapt to Gen Z’s expectations, and respect their concerns.