Gen Z Ushers in a New Era of Work: Hybrid, Meaningful, and Tech-Savvy
Embracing Hybridity and Flexibility
The Cpl Salary Guide unveils remarkable insights into the modern workplace preferences of Gen Z and the workforce at large. A staggering 66% of the surveyed individuals currently enjoy the benefits of hybrid working, and an overwhelming 60% would flatly decline a job offer that does not provide this flexibility.
“The hybrid working model has become an integral part of the employment landscape,” asserts Barry Winkless, Chief Strategy Officer at Cpl Group. “It empowers employees with greater autonomy while expanding employers’ access to a wider pool of skilled candidates.”
Striving for Purpose and Sustainability
Gen Z displays a marked preference for “meaningful” organizations that prioritize social responsibility and environmental stewardship. “These employees seek workplaces that align with their values and make a positive impact on the world,” explains Winkless. “They are driving a shift towards companies that are more humane, technological, and societal.”
As Gen Z matures into the workforce, businesses must adapt to meet their aspirations for sustainable business practices.
Upskilling and Embracing Technology
Amidst the labor market fluidity, nearly half of workers are contemplating a job change in the upcoming year, while over 70% are prioritizing upskilling. Gen Z’s tech-savvy nature is evident in their optimism towards Artificial Intelligence (AI). While only 12% anticipate a negative impact from AI in the short term, 40% foresee a beneficial influence on their roles.
Winkless cautions, “Long-term concerns about AI’s impact on employment emerge when we extend the time horizon to three to five years.”
A Dynamic Labor Market
The report highlights an active labor market with workers seeking pay raises. Over 60% of respondents intend to request a salary adjustment within the next 12 months, primarily driven by rising living costs and a favorable job market. Winkless predicts a 3-4% average pay increase this year, potentially reaching 10% in high-demand sectors like technology and law.
Despite the overall buoyancy, data suggests that the labor market will continue to experience shifts and adjustments in the coming year. “We expect more upheaval in the labor market,” predicts Winkless. “Gen Z’s preferences, the increasing significance of sustainability, and technological advancements will continue to shape the workplace of the future.”