Every generation is shaped by the events happening as they hit adulthood, and Gen Z is no different. Now that Gen Zs are entering the work force in big numbers, it makes sense to look at what they want and why they want it.
Here are Five Fast Facts about what Gen Z workers want:
- 👍 Top Priorities - In a recent survey from a financial services firm called Standard, Gen Z most values pay, healthcare coverage, and retirement benefits. Seems pretty wise for a bunch of young’uns, doesn’t it?
- 🤔 The Landscape - In general, Gen Z feels “financially vulnerable”, probably because they’re hitting the workforce post-COVID (but they were old enough to understand what happened there), during the highest inflation in a generation, and with a consumer price index that has gone up about 8% in the last decade. Less than ⅓ of them say they’re in good financial shape. To be fair, that’s probably accurate across all generations nowadays.
- 🩺 Health = Financial - Interestingly, their biggest health concerns also come down to finances. Access to food, medical care, and housing are the biggest concerns, and all are greatly impacted by job security and pay. Isn’t everything?
- 🏢 It’s Different Now - Previous generations have turned to banks and credit unions for financial benefits, but Gen Z is turning more to the companies they work for. Good retirement benefits, access to loans, good insurance, and things like student loan repayment are things that Gen Z workers expect from their company.
- 💨 It’s Not An Ultimatum, But… Despite these expectations – or maybe because of them – Gen Z workers are very likely to jump ship for better pay and benefits. In a recent LinkedIn survey, a mind-boggling 90% of young workers were considering leaving their jobs. 🤯
🔥Bottom line: Employers would do well to keep these things in mind. Not only will it allow them to attract young talent, but it will help them keep it over the long haul.
What do the Gen Zs in your life value?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
BTW, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
