Work-life Balance and Job Stability Most Important for Gen Z

Gen Z prioritises work-life balance and job stability

Generation Z (Gen Z) views a good work-life balance and job stability as two of the most important factors in their future careers, according to new research by Graduate Management Admission Council (GMAC).

The report, Gen Z in the GME Pipeline, examines the career aspirations and goals of Gen Z students applying to business education courses. Analysing and understanding Gen Z’s wants and needs has become more important as this generation begins to dominate the talent pipeline for businesses.

The findings show the importance Gen Z places on success not only in their careers, but in their personal lives. Work-life balance is of utmost importance to them, not just during their time in management education but also in their future careers.

Career fulfilment and stability are key priorities

While financial gain remains a motivation, Gen Z also desire fulfilment, happiness, and stability. Stability is associated with financial independence, with respondents expressing a desire to build a strong foundation for their future from the early stages of their careers.

However, stability is also considered an important factor when assessing the sectors, industries, and jobs they aspire to join. This is seen as a lasting consequence of the COVID-19 pandemic and the uncertainty it created around employment and economic security.

While finance and accounting are viewed as stable career paths, Gen Z on average finds technology more turbulent than millennials and are less likely to pursue a career within the industry. This appears to be influenced by the mass redundancies seen across technology companies such as Alphabet, Meta, and Amazon, alongside the volatile nature of technology company stocks and shares.

Gen Z wants purpose, collaboration and inclusive workplaces

Other findings indicate Gen Z’s greater inclination towards collaboration and inclusivity. They envision future careers where they can work alongside diverse teams, valuing perspectives from peers of different nationalities and cultures.

They also prioritise workplaces that actively address climate change and social injustice, aiming for careers that allow them to make a positive impact beyond their day-to-day responsibilities.

Gen Z seeks meaningful careers with a positive impact

On average, respondents were optimistic about their individual futures but anxious about the state of the world, including its impact on their own lives.

The report identifies an “emotional undercurrent” behind Gen Z’s ambitions and career aspirations, with respondents highlighting the importance of feeling a sense of pride in the work they do.

“When chatting with my friends, most of our topics are about future work…will you care about whether your future work is what you like, whether it will make you feel stressed, or will you be happy?”

Gen Z are also more likely to want to see social action from their employers than millennials, whether that relates to sustainability, climate change, or inclusivity.

Employers must adapt to changing candidate expectations

Nalisha Patel, GMAC Regional Director for Europe, said, “Gen Z are a highly socially conscious and aware generation that manages to balance ambitious future career plans alongside anxiety for the future of their community and the world. And they want employers and educators to respond to their expectations.

“From personalised courses and modules in higher education, to hybrid work in the professional world, Gen Z want their education and work to really reflect their interests as well as function alongside their personal ambitions. Undertaking this research helps us not only understand this, but also compare with other generations too.”

The report draws on qualitative research conducted by GMAC between 2022 and 2023. The results highlight the changing expectations for businesses as their talent increasingly comes from this generation of students.

Astute’s view: work-life balance and employee value proposition

Kevin Over, Head of Power at Astute Technical Recruitment, added:

“It is not just Gen Z who are looking for a strong work-life balance and stability when they look for their next opportunity.

“Increasingly, leading candidates are asking about the culture, career development, and for more understanding around their corporate social responsibility commitments.

“With the current market as it is, and a prolonged talent shortage, we are advising our clients to emphasise their employee value proposition as much as possible to stand out to candidates and attract the best talent.

“The businesses that are proving the most successful with their recruitment campaigns are those able to show consistency in their working models and be detailed about what they can offer candidates, who across the energy sector are in serious demand.”

Kevin Over joined Astute in 2013 as a Delivery Consultant in the water division. He is now the Head of Power for Astute.

Connect with Kevin on LinkedIn.

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