Gen Z is less likely to job hop... if their workplace expectations are met

Growing up in the recession of the early 2000s, Gen Zers saw their parents face economic stress and financial hardship and want to avoid the same.

When asked about the type of work environment that was most important, Gen Zers indicated “a desire to work in a stable, predictable environment with a reliable company.” (Photo: Shutterstock)

Good news for employers: Gen Zers might be more “tenure-oriented” than job-hopping millennials – but to keep them, employers will need to meet their “overall expectations for quality of life in the workplace,” according to Sodexo’s white paper, “Guiding Gen Z from Campus to Corporate Life: What College and University Administrators and Talent Recruiters Need to Know.”

Initial engagement studies on individuals born after 1994 just entering the workforce are mixed, with one study finding the majority are willing to stay with a company for more than 10 years, while another study finding that a majority think three years or less is an appropriate length of time to spend in a first job.

According to a recent Sodexo survey, nearly half (46 percent) of younger workers say they anticipate employment with only one to three companies when asked, “How many different organization do you see yourself working for through your career?” The second highest percentage (41 percent) says they expect to work for one to seven organizations.

Related: Gen Z: What employers need to know about recruiting and retaining them

If one assumes the typical career spans 45 years, then 46 percent of these survey respondents anticipate being with the same organization for at least 15 years, that survey concluded.

“There is general agreement, however, about the fact that Gen Z grew up during a time of economic stress and the recession of the early 2000s,” the authors write. “Gen Z saw its parents face financial hardships and struggles, something it wishes to avoid.”

Indeed, when asked about the type of work environment that was most important in the latter survey, respondents indicated “a desire to work in a stable, predictable environment with a reliable company.”

Gen Zers not only care about the “fiscal consequences” of their career decisions, they also want an employer that can meet their overall expectations for quality of life in the workplace, according to the white paper.

Sodexo’s survey also asked Gen Zers about their specific expectations for the workplace, and 43 percent say that having a fulfilling role within the organization is their number one priority, and 33 percent say they desire to work for organizations with a strong commitment to corporate social responsibility.

Work-life balance and a high salary also ranked high (31 percent and 29 percent, respectively) as important factors that contribute to a better quality of life at work. However, when asked, “What is more important to you, a high paying formal 9-5 job or a role with less pay, greater flexibility and work-life balance?” the majority (65 percent) chose the latter.

Gen Zers were also asked what they most value and respect in an organizational leader: ability to drive revenue, decisiveness, adaptability, humility, transparency or empowerment and courage. The attribute respondents selected as most valued and respected was empowerment and courage.

There is a contrast between millennials and Gen Zers regarding workplace expectations, according to the white paper. Millennials expect to have more opportunities to develop and grow. They likewise desire constant feedback. Gen Zers, on the other hand, places less value on these factors in the workplace. Only 14 percent of those surveyed felt that constant feedback was extremely important, and 15 percent rated it as not important at all.

“While concerns about work-life balance and high salaries are top of mind, what Gen Z wants more than anything is to know the time it spends at work has meaning and is fulfilling,” the authors write.

One of the most important things that recruiters, employers and HR teams can do is develop an informed “purpose statement” that puts a face on the company, according to the white paper. It should be brief in length and broad in scope, “succinctly encapsulating the positive contribution the organization makes to the world around it.”

“For a generation that is bent on seeking out and participating in meaningful work, the purpose statement is an effective means of engagement and one that demonstrates how the outcomes of an organization contribute meaningfully to the world and communities in which it operates,” the authors write.