Money matters more than leisure to Gen Z and Millennials, survey finds

The pandemic has brought the future of work closer and transformed the way people relate to a job. With Millennials dominating the labor market and with the introduction of Gen Z employees, the organizational culture has also changed, with more focus on wellness and flexibility. However, 53% of Gen Zers and 45% of Millennials would choose earning more income to maintain a comfortable, carefree lifestyle versus more vacation days, according to the latest BestJobs survey.

23% of Gen Zers seek opportunities to grow professionally, even at the expense of salary, compared to 10% of Millennials and 6% of Gen Xers. Also, free time spent with family or loved ones is a better choice than increased income for 17% of young adults, 25% of Millennials and 17% of Gen Xers.

“Young Gen Zers value independence, flexibility and happiness very much, and their view of work is more pragmatic than aspirational. That is precisely why we hear lately about “quiet quitting” – the tendency by which young people dedicate themselves to the job strictly as necessary, without exceeding the hours in the program and without having the ambition of promotion. At the same time, they are in a training stage and are willing to give up their free time in favor of an income that allows them to lead the lifestyle they want and have access to experiences. Millennials, on the other hand, are a generation accustomed to working hard, setting challenging goals, but also enjoying the benefits that come with higher status and higher income. These generations are also the ones redefining the organizational culture, putting the well-being of employees and happiness at work at its center”, says Ana Vișian, BestJobs Marketing Manager.

As employees get older, they place more importance on their own health and that of those around them. For Gen Xers and those over 58, income remains the top choice in less than 40% of cases. In contrast, 45% of Boomers and 32% of Gen Xers say that at this stage in their lives, health comes first, above income or free time.

What generations want from the job?

When it comes to their current job, Gen Zers value salary (40%), the ability to work remotely (33%) and schedule flexibility (27%) the most. Millennials also enjoy salary (48%), but also value job security (31%) and work-life balance (29%). While people between the ages of 42 and 57 value the same things as Millennials, those over 58 choose, after salary, relationships with colleagues (37%), communication with superiors (25%) and extra-salary benefits (18 %).

More than half of the young people from Generation Z, respondents of the BestJobs survey, have started their professional careers and have entry level jobs, where they earn between 2,000 and 3,000 lei net per month. 17% have part-time jobs or internships and earn monthly between 1,000 and 2,000 lei, while 30% earn over 3,000 lei.

Most employees prefer to work for a private company because of the exposure to a wider range of tasks that allow them to learn more things adjacent to their field of work. In addition, such a job can offer them more extra-salary benefits and/or opportunities for professional and personal development. If from Generation Z, almost 70% work for such employers, the percentage of Millennials who work in a private company is 81%.

Amid uncertain future, saving and professional development are the main lessons

The events of recent years have formed certain habits among people. For example, 10% of Gen Z have started saving, compared to 18% of Millennials and 20% of over-42s. In contrast, more than 20% of young people now place more emphasis on building knowledge in order to quickly land a new job if the situation calls for it, while only 13% of Millennials and 12% of Gen X and Boomers consider this a priority .The survey was conducted between August 27 and September 11 on a sample of 1,272 Internet users from Romania.

abor marketBestJobsemployeesGen XGen ZjobsleisuremillennialsmoneySurveywellnesswork
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