Workforce Mobility Interactive, 12 February 2020: Asia’s largest conference on employee mobility and the changing workforce.
Exclusive, invite-only conference for HR decision makers and mobility specialists, request your complimentary invitation here. »
Surprisingly, the employee perks and benefits like ping pong tables and on-site gyms that employers are using to motivate Millennials won’t work as well on Gen Zs.
According to the Monster Multi-Generational survey conducted by TNS, the motivations of GenZs are surprisingly similar to that of that of the Baby Boomer generation.
The top six criteria Gen Zs look for in a job include:
- Health insurance (70% vs. 68% across all working generations)
- Competitive salary (63% vs. 59% across all working generations)
- A boss I respect (61% vs. 60% across all working generations)
- Opportunities for professional development (47% vs. 40% across all working generations)
- Maternity/paternity leave (33% vs. 25% across all working generations)
- Flexibility to change roles within company (32% vs. 25% across all working generations)
Though Gen Zs are more pragmatic, similar to Millennials, this generation is also one that most strongly believes work should have a greater purpose (74% vs. 69% across all working generations).
In line with that, the survey highlighted that apart from a good paycheck, the ability to pursue one’s passion (46% vs. 32% across all working generations) is a key motivating factor for this generation, followed by a challenging and exciting job.
ALSO READ: 5 things you didn’t know about the Gen Z
The report also pointed out that “Gen Z is also surprisingly motivated by job security at a young age” (32% vs. 36% across all working generations) and 29% (vs. 20% across all working generations) said a “job I enjoy” would make them eager to come to work, as well as a good environment and team of people.
The survey also found that having seen family members suffer due to the financial crisis of the late 2000s, this upcoming generation is also the most hardworking. A majority of Gen Z revealed that they were willing to relocate for a good job (67% vs. 52% across all working generations) or work nights and weekends for a better salary (58% vs. 41% across all working generations).
Additionally, the survey found that a vast majority of Gen Zs (76% vs. 70% across all working generations) believe that they are the owners of their career and will drive their own professional advancement, and nearly half (49% vs. 32% across all working generations) aspire to have their own business.
About four in 10 of Gen Z expected to find their first job through friends and family (vs. 36% across all working generations) and 54% said they will find a job through their digital/social connections (vs. 36% across all working generations).
“Companies looking to succeed in building a connection with this generation need to discover and communicate with Gen Z’ers in their world, and not the other way around,” the report wrote.
Photo / 123RF