Randstad’s ‘Work Monitor’ Research Reveals That Gen Z And Millennials Would Quit Work If It Stopped Them Enjoying Life

Businesses need to step up, as millennials and gen z fundamentally change the employee-employer power dynamic – according to global survey of 35,000 workers.

Younger generations willing to walk away from employers to stand up for their personal beliefs

• Employers face pressure as 70% of all workers are open to new job opportunities with nearly a third of young people (32% of Gen Z and 28% Millennials) actively looking for a move
• Gen Z[1] and Millennials[2] prioritise their happiness, as over half (56% of Gen Z and 55% of Millennials) said they’d quit their job if it was preventing them from enjoying life, compared to just over a third (38%) of Baby Boomers[3]
• Younger generations want their personal convictions to align with their employer’s, with nearly half of both Millennials (48%) and Gen Z (49%) saying they wouldn’t accept a job that didn’t align with their values on social and environmental issues compared to just over a third (35%) of Baby Boomers

Randstad’s latest Workmonitor – one of the longest-running and largest studies of its kind, surveying 35,000 workers across 34 markets – has found that Gen Z and Millennials are driving a revolution in the employee-employer dynamic, intensifying the pressure on employers amid talent scarcity.

Great resignation shows no sign of slowing

The survey reveals that the Great Resignation shows no signs of slowing, as 70% of all workers globally are open to new job opportunities and nearly a third of the young people surveyed (32% of Gen Z and 28% of Millennials) are actively seeking a new role. While workers don’t lack loyalty, with a majority (60%) saying they feel committed to their employer, nearly half (49%) feel that if they were to lose their job, they’d be able to find a new one quickly, showing their confidence and comfort in the current job market.

Gen Z and Millennials are ready to prioritise their overall happiness above their career, as nearly two in four (40% and 38% respectively) say they’d rather be unemployed than unhappy in a job, compared to only a quarter (25%) of Baby Boomers. Over half (56% of Gen Z, 55% of Millennials, 50% of 35-44 year-olds) said they’d quit a job if it prevented them from enjoying their life, while two in five (41% Gen Z and 40% of Millennials) say they have previously quit a job because it didn’t fit with their personal life - ahead of more conservative, older generations (36% of 35-44-year-olds, 30% of 45-54-year-olds and 25% of 55-67-year-olds).

Closer to home, almost one third of Kiwis have quit jobs that didn’t align with their personal lives and 44% of Kiwis wouldn’t accept a job if it didn’t provide flexibility around working hours. If money was no object, 57% of Kiwis workers would choose not to work at all, compared to 48% globally and spend more time with their family.

But employers aren’t keeping up with talent demands

Amid growing expectations, employers are struggling to fulfill talent demands. While Kiwi workers don’t lack loyalty, with more than half (54%) saying they feel committed to their employer, 51% are passively seeking a new job, and 47% said they would prefer a four-day working week with 84% of Kiwis rating flexible working hours as hugely important.

In the last 12 months, when it comes to NZ workplaces:

• 39% of Kiwi workers have received an increase in their remuneration package but more than a third (35%) asked their employer for better conditions
• Nearly a third of workers cited low wages as their reason for resigning
• 40% wouldn’t accept a job if it didn’t provide flexibility to work from home
• 44% wouldn’t accept a job if it didn’t provide flexibility around working hours

Katherine Swan, Country Director at Randstad New Zealand, comments: “There’s a clear power shift happening in offices around the globe, including New Zealand, driven by a workforce still recovering from the pandemic. The past two years have given all of us time to rethink priorities and we’re seeing a major shift towards personal fulfillment over career.”

Younger generations prioritise their values when making career decisions

Younger people are also forcing businesses to put purpose and values at the heart of what they do, as they want their work to align with their personal convictions:

• Nearly half of both Millennials (48%) and Gen Z (49%) wouldn’t accept a job with a business that doesn’t align with their values on social and environmental issues compared to just over a third (35%) of Baby Boomers
• A similar amount (49% and 46% for Gen Z and Millennials respectively) said they wouldn't work for a business that wasn’t making a proactive effort to improve its diversity and equity compared to a third (33%) of their older counterparts
• Two in five (42% for Gen Z and 40% for Millennials) wouldn’t mind earning less money if they felt their job was contributing something to the world or society, compared to only a quarter (25%) of Baby Boomers

Katherine Swan adds, “Our working and home lives are more blended than ever before so it’s perhaps not surprising that younger people want to bring their whole selves to the workplace. This is reflected in their determination not to compromise on personal values when choosing an employer. Younger workers are prioritising their happiness over career, walking away from roles that don’t provide emotional fulfillment.”

She continues, “We know from our daily interaction with thousands of jobseekers across the country that Kiwis want to work with companies whose values align with their own. Our survey shows that forty percent of Kiwis wouldn’t accept a role with a business who didn’t share similar values on social and environmental issues. Companies that step up and take positive action on issues that matter like sustainability and diversity and inclusion will find themselves more attractive and effective in retaining talent.”

Full results by age group

For further information and to download the full global Randstad Workmonitor Report for 2022, go to https://www.randstad.com/workforce-insights/global-hr-research/randstad-workmonitor/

[1] 18-24-year-olds

[2] 25-34-year-olds

[3] 55-67-year-olds

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