It’s not all about salaries for Gen Z

Those born after 1997 are known as Generation Z, and they already make up a quarter of the workforce.

As with every new generation, their expectations in their personal lives, as well as at work, are vastly different from previous demographics.

As the leaders of the future, it is critically important that employers figure out what Gen Z want out of the world of work. The ‘Great Resignation’ is real, so attracting those early in their careers – and giving them a great experience – could improve your long-term turnover rates.

It turns out that Gen Z wants their work to be meaningful, and they want to work for companies that share their values, according to research by people analytics company Visier.

Visier surveyed 1,000 Americans aged between 18 and 24 and found that 75% saw their career as a means to achieve self-fulfillment – this is more important to them than high salaries.

Those US workers also told Visier that they wanted their employer to respect their views, political or otherwise, and enable them to express them in work. 30% strongly agreed that employers should consider and respect their views, while 53% somewhat agreed.

Visier also surveyed 2,000 workers in the UK – 162 were Gen Z – and found that 82% wanted to work for an ethical employer. This was slightly below the 94% who cited their salary as important, a few more (95%) valued who they worked with (and particularly how good their manager is).

In-office work and career development

The research also identified that Gen Z in the UK and the US are not actually that keen to leave their jobs, and want their employers to prioritize career development.

Visier’s principal of research and value Andrea Derler shares exclusively with UNLEASH: “Gen Z has been stereotyped as job hoppers. This more than likely stems from those leaders and businesses who anticipate this age group to be a carbon copy of millennials.

“But, according to our data – both in the US and the UK – Gen Z are an incredibly future-focused generation.

“In the US alone, 85% are thinking ahead a year or more when it comes to their professional lives, and 25% have a five-year work plan.

“Similarly, in the UK, we’re seeing that Gen Z aren’t looking to resign. Instead, they’re looking to their current employers to support them on their future ambitions whether that be through learning and development initiatives (35%) or a bonus scheme (46%).

“This generation expects more from management and employers need to understand their ambitions.”

Visier’s data also confirmed previous studies, as it found that Gen Z were more pro-office work than many might assume.

Hybrid work was important to 59% of Gen Z workers in the UK, and 31% in the US. 33% of Gen Z Americans wanted in-office work, and just 17% were keen to work entirely remotely.

Previous research by LinkedIn looking into why Gen Z weren’t keen for remote opportunities – the answer seems to be that they want separation between their work and personallives.

24% of 4,000 Gen Z workers surveyed by LinkedIn said the office was a better working environment, while 23% wanted to have better relationships with their colleagues.

Of course, these statistics could change over time as employees re-evaluate the world work, particularly during a recession that seems to be on the horizon.

Derler concludes: “There’s a real opportunity here for organizations to nurture and retain the future of their talent pipeline.

“Keeping abreast of employee sentiment using data can paint a clearer picture of how this generation feel about the perks they’re being offered, the current impact the macro-economic climate is having on their position at work and the values they’re looking to align to within their organization”.

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