The idea of success has changed significantly over the past few decades.
For many Gen Xers and Baby Boomers, it might have looked like a stable office job with promotions and raises at key intervals, your own home, a happy marriage with kids and the means to live comfortably and without debt.
Juxtapose this with another picture: working for a company that cares, a healthy work-life balance, a fulfilling side hustle, and financial independence.
This latter definition of success resonates with many more Gen Zs (born between 1997-2012) and Millennials (1981 – 1996) than the former and it is vital employers understand the changing workforce and what is important to them, says Nkosinathi Mahlangu, Youth Employment Portfolio Head at the Momentum Group, as “Gen Z is expected to make up more than a quarter of the global workforce by 2025.”
And like the Millennial generation that came before them, Gen Z faces many unfair prejudices and misperceptions about their work ethic and preferences. “One of the biggest misconceptions is that Gen Z is lazy. What we need to understand is that what Gen Z prioritises might be different to what is prioritised by other generations. We need to stop trying to rewind time and make them fit into an archaic and outdated working model,” says Mahlangu.
To better understand what Gen Zs want in the workplace and what success looks like to them, Mahlangu says that it is important that we understand the context in which they have grown up.
A life lived on demand
Having never known life before the internet, Gen Z is highly tech-savvy and only knows life lived ‘on-demand’. Clothes, toiletries, groceries or food can be ordered with a click of a button; they can find any song or artist they like on Apple Music or Spotify; they can enjoy endless entertainment on YouTube or Netflix. “This means that they are very comfortable with seeking out answers when they need them, and unlikely to accept the status quo just because that is the way it has always been,” says Mahlangu.
More than any generation before them, they’ve grown accustomed to fast-paced and dramatic change thanks to technology, and they anticipate the same in their careers. “For them, disruption and instability are the norm, rather than the exception. This means that they are generally flexible, resilient, and highly agile when it comes to pivoting their jobs – or even careers,” he adds.
At the same time, Mahlangu points out that Gen Z has grown up in a time where the world faces financial uncertainty and pressure, which has led to the emergence of the gig economy and the increasing prevalence of contract work. They tend to be more entrepreneurial than previous generations, reflecting their practical mindset.
All of these factors mean that what Gen Z wants from an employer is a little different from previous generations, says Mahlangu. They expect…
Work-life balance. More so than any previous generation, work-life balance is vital to Gen Z. “This also means flexibility and being agile in how work is carried out. They are a generation that can have more than one work stream with remote work the expectation, and flexible hours being the demand,” says Mahlangu. According to research by McKinsey, Gen Z ranks flexibility as the top reason for staying in a job.
“Mental and physical health are also prioritised and they seek an environment that promotes wellness. They’re not keen on a rigid or traditional work culture.”
An accommodating side-hustle policy. If your company prohibits paid work outside of their role at your company, you might want to rethink this – and fast. “The reality is that with mounting financial pressures, most people cannot survive or thrive on one income stream. Gen Z is particularly amenable to side hustles and entrepreneurial pursuits, given their ‘I can do it myself’ mindset. They are very adaptable and tend to acquire new skills quickly, which means that they are less likely to have only one job.”
Purpose. Performing meaningful work is one of the top three reasons Gen Z accepts a job. They also prioritise learning and progression, with McKinsey’s research finding that ‘career development’ is the top reason why Gen Z accepts a new job – whereas all other generations put remuneration first.
Employers that care. Both about them, and about others. “Gen Z is purpose-driven and alignment with their value system and a social compass is key. They demand this from their employers and want to work for someone with a social footprint in the community. The organisation also needs to have a culture that is inclusive and embraces diversity.
“From Momentum Group’s research, we have seen that company Corporate Social Investment (CSI) initiatives are far more effective if young people’s voices and views are part of the conversation, especially if the initiatives are youth-focused.
“This generation believes that they are excluded from co-creating the solutions aimed at resolving youth unemployment and financial exclusion, and they want to be part of the solution.”
