Why Gen - Z prefers learning and growth opportunities over salary packages

In this podcast, businessline’s Anjana PV and Kamal Karanth, Co-founder of Xpheno, a specialist staffing company, discuss the priorities of Gen-Z while applying for jobs. The discussion is based on a report by Internshala Jobs, titled, "Navigating GenZ Workplace Expectations in 2024: Insights for HR Professionals.” 

One striking finding is that 67 per cent of Gen Z job seekers prioritise learning and growth opportunities over hefty salary packages. Karanth attributes this shift to the saturated job market that Gen Z individuals have entered, emphasising the need for regular upskilling to remain relevant in their roles. He notes that despite prioritising growth, Gen Z workers may not easily accept job offers without substantial salary increments. However, only 1 per cent of job seekers are motivated by benefits such as ESOPs, health insurance etc. Karanth attributes this attitude to the age factor and lack of perceived necessity among younger workers. He shares anecdotes illustrating how Gen Z employees often prioritise present needs over additional benefits 

The podcast also discusses the preference for hybrid work culture among Gen Z workers, with Karanth highlighting the seamless transition to remote work during the pandemic. He emphasises the desire for autonomy in managing time and activities, suggesting that a full-time office model may hinder work-life balance. 

Anjana raises concerns about potential conflicts between generations regarding workplace preferences, especially regarding the increasing preference for hybrid work culture among Gen Z workers versus the traditional mindset of older managers. Karanth acknowledges the existing tension and predicts a lack of balance until the next generation of managers emerge. He highlights how differing perceptions of autonomy and work culture can lead to challenges in managing multi-generational teams. 

The podcast also focuses on the growing importance of work-life balance, not just among Gen Z but across generations. Karanth observes a shift towards prioritising personal time and output over long working hours, even among senior leaders. He emphasises the need for employers to recognise this trend and adapt their policies to accommodate employees' desire for a better work-life balance. 

Karanth addresses the prevalence of job hopping among Gen Z workers, attributing it to the abundance of opportunities in the job market. He notes that short tenures at companies are becoming increasingly common across all levels, indicating a dynamic job market where individuals seek better opportunities to advance their careers. Karanth emphasises the need for employers to understand and adapt to this trend to retain talent effectively. 

Listen to the podcast to learn more. 

(Host&producer: Anjana PV)