New insights reveal Gen Z’s rising expectations in the workplace, challenging employers to adapt.
- 67% of hiring managers believe Gen Z’s salary demands have increased compared to last year.
- The majority of Gen Z values pay over job security, a shift from previous generations.
- Younger professionals are less loyal, with a significant portion ready to switch jobs for better pay.
- Employers are urged to offer roles with purpose and positive social impact to attract Gen Z talent.
Recent findings highlight a shift in workplace dynamics led by Gen Z, as they bring to the table higher expectations for salaries and benefits. According to a recent study, an overwhelming 67% of hiring managers have noticed a marked increase in Gen Z’s salary demands compared to the previous year. This increase surpasses that of millennials, Gen X, and baby boomers, indicating a new trend in workforce expectations.
Interestingly, Gen Z prioritises remuneration more than job security, a stark contrast with other age groups. Where 43% of employees in general deem job security more critical than pay, a notable 29% of Gen Z respondents place higher importance on their earnings. This percentage is higher than the 25% of millennials and 23% of Gen X who share a similar sentiment.
Furthermore, loyalty appears to be dwindling among younger professionals. A significant portion of Gen Z, about 20%, are prepared to change jobs should they not receive the salary increases they seek, while 12% would consider negotiating better benefits.
To retain Gen Z employees, businesses are encouraged to align roles with the values and purposes cherished by this group. This generation is particularly drawn to organisations that have a positive societal and environmental impact, promote continuous development, and encourage independent thought and entrepreneurship. Matt Weston, a Senior Managing Director at Robert Half, explains that the challenge lies in crafting talent attraction strategies that balance remuneration and retention, especially under existing budget constraints.
As Gen Z continues to redefine workplace values, employers must adapt to meet their expectations while maintaining effective talent retention.
