Beyond Salary: Unveiling Gen Z's Career Motivations in 2024
To efficaciously enroll and retain Gen Z workers, especially those born between 1997 and 2012, companies are lining themselves up with their occupational goals. This further influences Gen Z firms to apprehend various professional views to alter their workforce of the future.
Gen Z: Redefining the Workforce
Gen Z, soon to surpass millennials as the largest generation, will drive significant changes in the workplace. Comprising over one-third of the global population, this generation views work through a unique lens, emphasizing purpose over paychecks.
To attract and retain Gen Z workers (born between 1997 and 2012), companies must align with their career aspirations. This shift requires an understanding of Gen Z's professional perspectives to shape the future workforce.
A World Economic Forum report predicts Gen Z will make up 27% of the workforce by 2025. Sarbojit Mallick, Co-founder of Instahyre, provides additional insights on this trend.
Understanding Gen Z's Work Values
Unlike previous generations, Gen Z does not prioritize salary as the primary factor in their careers. Raised in an era of abundant resources, global connectivity, social awareness, and financial stability, they seek roles that align with their missions and goals. A market survey found that 80% of Gen Z workers felt happier in jobs where they could directly impact social issues, underscoring their interest in environmental advocacy.
For Gen Z, work is an integral part of life, not just a means to earn. They prefer employers who support mental health, offer flexible working hours, and maintain work-life balance. Recognized as the most tech-savvy generation, they value opportunities for continuous learning and career advancement. Unlike millennials, Gen Z is more willing to switch jobs or acquire new skills to pursue their interests outside of work. Consequently, many companies are implementing Learning & Development (L&D) programs to facilitate ongoing growth for younger employees.
Future Workplaces for Gen Z
Gen Z's familiarity with advanced technological tools necessitates a modern recruitment approach. By understanding their priorities and learning from their behavior, businesses can create a thriving environment for Gen Z employees. This will contribute to overall corporate success. Companies must continuously assess Gen Z's needs and expectations, leveraging the experience of Gen X, Gen Y, and Boomers to help Gen Z develop leadership skills and foster workplace innovation.
Gen Z is set to surpass millennials as the largest generation globally.
Gen Z prioritizes purpose and mission over salary in their careers.
Gen Z will constitute 27% of the workforce by 2025.
Gen Z values mental health support, flexible working hours, and work-life balance.
Companies are adopting skill-based career development programs and modern recruitment strategies to attract and retain Gen Z talent.
