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Purpose over Paycheck: What Gen Z Wants from Their Jobs
Posted on August 7, 2023 by Editor
The professional aspirations and priorities of every generation differ, often influenced by the socioeconomic and cultural contexts they grow up in. For Gen Z, the generation born between 1995 and 2010, work is not just about earning a paycheck. As recent data suggests, this cohort of young professionals values purpose-driven work significantly, often placing it above many other traditional considerations.
The Deloitte Global 2023 Gen Z and Millennial survey highlighted that while work is central to the identity of Gen Z, they highly value a work-life balance. This balance isn’t just something they admire; it’s their top consideration when selecting an employer. One of the pivotal aspects that contribute to this balance is the flexibility regarding where and when they work.
Compared to their predecessors, Gen Z’s emphasis on purpose-driven work is evident. A 2021 study by Zety revealed that members of Gen Z notably prioritise empathetic workplaces that focus on the broader needs of people and the environment. In contrast, preceding generations mainly viewed pay as the dominant consideration for job selection.
Responding to this shift in worker priorities, companies have been realigning their organisational values and missions. ThoughtExchange, an anti-bias management discussion platform, reported that a staggering 85% of Gen Z participants expressed a desire to be part of a company with a clear and meaningful mission. Further, 89% mentioned they would consider leaving an organisation that doesn’t resonate with their values. Leading the pack, organisations like Patagonia and Ben & Jerry’s have set exemplary standards by committing to social and environmental causes. Witnessing their success, several other firms are integrating purpose-driven values into their foundational principles.
But why this colossal shift? An article in the Harvard Business Review delves into the unique challenges faced by this generation. Many Gen Zers began their professional journeys only to face unprecedented disruptions due to the Covid-19 pandemic. Moreover, they’ve actively participated in movements advocating for social justice, equality, environmental concerns, and more. These experiences have carved out a distinct identity for Gen Z, one characterised by the scepticism of established norms, a hunger for immediate societal change, and a strong desire for workplace transparency.
As employers look to attract and retain the best talent from the Gen Z pool, it becomes crucial to align organisational values with the aspirations of this generation. The paradigm is clear: for Gen Z, purpose takes precedence over the paycheck.
Purpose over Paycheck: What Gen Z Wants from Their Jobs
Posted on August 7, 2023 by Editor
The professional aspirations and priorities of every generation differ, often influenced by the socioeconomic and cultural contexts they grow up in. For Gen Z, the generation born between 1995 and 2010, work is not just about earning a paycheck. As recent data suggests, this cohort of young professionals values purpose-driven work significantly, often placing it above many other traditional considerations.
The Deloitte Global 2023 Gen Z and Millennial survey highlighted that while work is central to the identity of Gen Z, they highly value a work-life balance. This balance isn’t just something they admire; it’s their top consideration when selecting an employer. One of the pivotal aspects that contribute to this balance is the flexibility regarding where and when they work.
Compared to their predecessors, Gen Z’s emphasis on purpose-driven work is evident. A 2021 study by Zety revealed that members of Gen Z notably prioritise empathetic workplaces that focus on the broader needs of people and the environment. In contrast, preceding generations mainly viewed pay as the dominant consideration for job selection.
Responding to this shift in worker priorities, companies have been realigning their organisational values and missions. ThoughtExchange, an anti-bias management discussion platform, reported that a staggering 85% of Gen Z participants expressed a desire to be part of a company with a clear and meaningful mission. Further, 89% mentioned they would consider leaving an organisation that doesn’t resonate with their values. Leading the pack, organisations like Patagonia and Ben & Jerry’s have set exemplary standards by committing to social and environmental causes. Witnessing their success, several other firms are integrating purpose-driven values into their foundational principles.
But why this colossal shift? An article in the Harvard Business Review delves into the unique challenges faced by this generation. Many Gen Zers began their professional journeys only to face unprecedented disruptions due to the Covid-19 pandemic. Moreover, they’ve actively participated in movements advocating for social justice, equality, environmental concerns, and more. These experiences have carved out a distinct identity for Gen Z, one characterised by the scepticism of established norms, a hunger for immediate societal change, and a strong desire for workplace transparency.
As employers look to attract and retain the best talent from the Gen Z pool, it becomes crucial to align organisational values with the aspirations of this generation. The paradigm is clear: for Gen Z, purpose takes precedence over the paycheck.