Two-thirds (66 per cent) of Gen Z believe that changing companies is the key to growing their career, prioritising skills development and new experiences over job loyalty, according to a new FDM Group study. Factors such as the cost-of-living crisis were cited as a primary driver of career changes, with graduates often looking at moving jobs to climb the ladder and increase their salaries quickly. In total, Gen Z are 13 per cent more likely than non-Gen Z to view their role as a stepping stone.
The findings were revealed in FDM Group’s Gen Z: Breaking generational stereotypes whitepaper, in which the FTSE firm surveyed 236 consultants split between Gen Z and non-Gen Z, with 1997 as the cut-off. Gen Z currently makes up 30 per cent of the world’s population and is expected to grow to 27 per cent of the global workforce by 2025.
Developing skills, especially digital skills, was also viewed as a key driver behind job-hopping, and 80 per cent of Gen Z claimed they would go into the office more for coaching, collaboration, mentoring and learning from others. Two-thirds of Gen Z expressed dissatisfaction with available learning resources, compared to 56 per cent of non-Gen Z.
The ability to learn from and shadow others, especially if senior leadership are present, was viewed as the top reason for staff wanting to go into the office.
Despite this, three-quarters of Gen Z and Millennials who currently work for remote or hybrid companies said they would quit their jobs immediately if their employers enforced in-person, full-time working.
“Gen Z’s outlook is pivotal in understanding how technology integrates into our lives and they have an incredibly important role to play in any business,” said Sheila Flavell CBE, COO of FDM Group. “Many workplaces are held back by out-of-date thinking and legacy technologies, but Gen Z holds the key to challenging the status quo and redefining the way we work. Businesses should embrace this pool of talent to build multigenerational workforces that combine the strengths of each group to drive success.”
Overall, 95 per cent believe that ‘challenging traditional thinking’ is the main characteristic that Gen Z can bring to teams, shaking up traditional practices and bringing fresh ideas to the workplace. Adaptability, communication, teamwork and problem-solving were also commonly cited.
When building multigenerational workforces with Gen Z, FDM Group recommends supporting an adaptive work culture based on feedback to meet evolving employee expectations; bringing clarity and accessibility to learning and development to allow staff to better themselves; reimagining employee loyalty by prioritising employee advocacy over retention.
Kate Hawthorn, Director of Consultant Talent at FDM Group, commented: “ Since 2023, a multigenerational workforce has become a reality with representation from all five generations. Gen Z are the fastest growing age group whose contributions can help bridge the skills gap, so it’s crucial to understand their approach to work. As a talent pool, they value flexibility, meaningful work and authentic communication above all else and the onus is on businesses to be adaptive and take a new approach to training and upskilling to boost retention and build a thriving workforce.”
The full study can be found at here
