In the face of a future of financial concerns, generation Z is increasingly focused on work salary, though flexibility also ranks highly in the search for job satisfaction.
For young people born between 1994 and 2004, the cost of living and the reality of financial difficulties are a main concern. According to Deloitte's annual barometer focussing on the concerns of people in this age group, almost half (47%) feel forced to work two jobs (up from 41% last year) to manage their finances.
Half of the people in this generation are pessimistic about their situation believing that it will be "more difficult, if not impossible" to ask for a pay rise or get a promotion. But there are also concerns for their personal lives: more than half believe they won't be able to start a family due to the associated costs; almost one in six believes buying a house is impossible.
This is why remuneration is one of the highest-ranked priorities for young people when they enter the job market. Many say they are prepared to change employers for a better salary, Le Soir reported.
"The financial relationship towards everything emerged two years ago. Before, this generation dreamt of a better world, but a certain realism has set in: they are becoming aware that change takes time," Deloitte's Nathalie Vandaele said.
Flexibility, but at what cost?
Young people are also looking for greater flexibility in work organisation – including the possibility of working four days a week, part-time or flexitime – and this work-life balance determines whether or not they choose to join a company.
The barometer showed that friends, family and hobbies are increasingly important for this age group, explaining why flexibility is so central for them. However, they are not prepared to pay for this flexibility with a loss of salary or reduced chance of promotion.
Finally, while climate concerns were less prominent in the latest barometer, seven in ten Gen Z'ers look into the commitments shown by companies when it comes to choosing an employer, even though only two out of ten respondents believe in these promises highlighting they are also more critical of the greenwashing of certain employers.
