What Do Young Professionals Want?


26 Jun What Do Young Professionals Want?


Posted at 03:52h in Editorial by

A growing body of research suggests there could be generational differences between what people want from their professional lives and their workplace teams. This concise post will discuss some of the latest findings and reveal what young people may really want from their careers.

Traditional career demands

 

Traditional “perks of the job” for past generations were usually about securing the highest salary. Or workers would look for employers that offered extra working benefits, such as private health insurance or maybe a company car1.

But new workplace demands are thought to be emerging, especially among the younger generations. Millennials and Generation Z are understood to be looking at much more than just their salary before choosing to work for employers, which we will discuss in more detail shortly2.

These factors are also influencing their decision to stay in a specific career or with their current employer, which resulted in a trend known as The Great Resignation3. This term was coined by Prof. Anthony Klotz who correctly predicted a wave of young people quitting jobs despite receiving high salaries4.

We’re not here to say that one way of thinking is better than another, and we cannot of course cast blanket statements over full generations or people of different age groups. But we can provide you with some of the most interesting findings:

1. Work-life balance

 

Multiple studies have identified a positive work-life balance as an important career consideration among younger people5. This school of thought has undoubtedly been accelerated due to the COVID pandemic, which left employers little option but to allow staff to work more flexibly and remotely6.

Despite having their hand forced, many businesses experienced genuine benefits in allowing staff to work flexibly and remotely7. This is good news for young people, who may be able to secure a better work-life balance more easily from employers as a result.

2. Social Consciousness

 

Research has also identified a change in mindset towards more meaningful employment. Various studies indicate that young people prioritize doing work that is meaningful or what they perceive makes a positive difference8. This is compared to jobs that might pay well but are perceived to not be as meaningful to society and the good of the planet9.

The BBC published an article citing that 70% of workers state their sense of purpose is heavily defined by their job10. When they feel like they are doing more meaningful work, they perform better and are less likely to switch employment. This is backed up by the Harvard Business Review, which referenced research finding that 90% of people will accept a lower salary for more meaningful work11.

3. Team fairness

 

Younger people are also thought to be more mindful of their professional teams and working relationships. The race up the company ladder – and above fellow colleagues – is understood to have slowed down among younger professionals12.

Instead of wanting to climb the corporate ladder as quickly as possible, young people are prioritizing fair and trusting working relationships with colleagues13. This ties in with a demand for greater job satisfaction rather than just a higher salary, which is also important for any business wanting to retain staff and mitigate re-hiring costs14.

Attract the best young professionals with better teams!

 

Only your business can decide to offer flexible working and meaningful jobs, but Bond83 can assist you in creating an attractive working environment among the best young professionals.

We offer team building solutions that are tailor-made to your business and team objectives. Contact us now for a free quote.

 

 

Reference
  1. Shukla, R. (2018). A study on work-life balance and employee satisfaction in private sector organizations. International Journal of Management, IT & Engineering, 8(9), 173-185.
  2. Twenge, J. M., Campbell, S. M., Hoffman, B. J., & Lance, C. E. (2010). Generational differences in work values: Leisure and extrinsic values increasing, social and intrinsic values decreasing. Journal of Management, 36(5), 1117-1142.
  3. Klotz, A. (2021). The Great Resignation: Why millions of workers are quitting their jobs. LinkedIn.
  4. Ibid.
  5. McNamara, T. C., Pitt-Catsouphes, M., Matz-Costa, C., Brown, M., & Valcour, M. (2013). Across the continuum of satisfaction with work-life balance: Work hours, flexibility-fit, and work-family culture. Social Science Research, 42(2), 283-298.
  6. Panchal, S., & Cartwright, S. (2020). The impact of the COVID-19 pandemic on employee stress, health, and remote working: A global perspective. Emerald Publishing Limited.
  7. Ibid.
  8. Allan, B. A., Duffy, R. D., & Collisson, B. (2018). Helping others increasesmeaningful work: Evidence from three experiments. Journal of Counseling Psychology, 65(2), 155-165.
  9. Bode, C., Singh, J., & Rogan, M. (2015). Corporate social initiatives and employee retention. Organization Science, 26(6), 1702-1720. ↩
  10. BBC. (2017). The employees who are let down by their high salaries. Retrieved from https://www.bbc.com/worklife/article/20170630-the-employees-who-are-let-down-by-their-high-salaries
  11. Gino, F., & Staats, B. (2015). Why people believe they can’t draw – and how to prove they can. Harvard Business Review. Retrieved from https://hbr.org/2015/11/why-people-believe-they-cant-draw-and-how-to-prove-they-can ↩
  12. Twenge, J. M., Campbell, S. M., Hoffman, B. J., & Lance, C. E. (2010). Generational differences in work values: Leisure and extrinsic values increasing, social and intrinsic values decreasing. Journal of Management, 36(5), 1117-1142.
  13. Ibid. ↩
  14. Hausknecht, J. P., Rodda, J., & Howard, M. J. (2009). Targeted employee retention: Performance-based and job-related differences in reported reasons for staying. Human Resource Management, 48(2), 269-288.
  15. Image Source from Pexels
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