Is Gen Z getting too much attention? Why shouldn’t it? After all, their entry into the workforce has had a significant effect on the workplace and its culture, in addition to technology and consumer behaviour. The way they look at life is far too different from the way the older generations did. Their definition of success at work differs too. No wonder then that only 25 per cent of Gen Z job seekers prioritise money. The majority, a good 77 per cent, prefers role or brand over the remuneration offered!
Unstop’s Talent Report 2024 reveals that 40 per cent of Gen Z is rather worried whether they will get a job as per their preference and in their chosen field. About 47 per cent of them give more importance to work-life balance when it comes to choosing their employer. A whopping 77 per cent prefer a good role and great brand to work with. In fact, 43 per cent would like to focus on gaining hands-on experience and the actual role, while the rest would grab a job based on the brand name/fame/prestige. Seventy-two per cent of Gen Zs attach a great deal of importance to job satisfaction, with salary taking second place.
A good 71 per cent of the HR wrongly assume that most Gen Z (78 per cent) switch jobs in pursuit of better remuneration. The truth is that these Gen Zs switch jobs for career growth. Only about 25 per cent chase better pay packages. Surprisingly, while 86 per cent of Gen Z expects a certain level of mental health support from their employers, the HR (27 per cent of the HR) does not think it is the company’s responsibility to provide the same. May be that is one of the reasons why 47 per cent of Gen Z plan to leave their job in two years’ time.
A mere 11 per cent of Gen Zs choose jobs they are passionate about or enjoy doing. The rest are likely to go for a job that pays well.
The report was based on responses gathered further from over 11,000 students, university partners, and human resource practitioners, 60 per cent men and 40 per cent women.
The talent trends report reveals that while the HR maintain that there is no discrimination in pay between men and women, most men (from Arts, Science and Commerce) were offered packages in the range of Rs 6 to Rs 10 lakh per annum, while the women were offered a package in the range of Rs 2 to Rs 5 lakhs only.
Even when it comes to curricula, there is disconnect between the HR and the students. About 66 per cent of the HR feel college curricula require changes only then can students be more employable. On the other hand, 91 per cent of students feel their curricula is just right.
Interestingly, only seven per cent of Indian campuses were able to place all of their students during placements.