A recent survey by Deloitte has shed light on the priorities of young workers in Australia, particularly Gen Z and millennials. These groups are not just looking for high salaries or prestigious job titles. Instead, they want jobs that offer purpose, flexibility, and support for their mental well-being. If these needs aren’t met, many are willing to leave their current positions.
By 2030, an estimated 74 percent of the global workforce will be made up of Gen Zs and millennials, making their expectations crucial for the future workplace. According to the survey, 94 percent of Gen Zs and 92 percent of millennials consider meaningful work a top priority. Many have even turned down job offers that didn’t align with their personal values.
Pip Dexter, Deloitte Australia’s Chief People and Purpose Officer, noted that these younger generations prioritize purpose over pay. They seek jobs that not only provide financial stability but also offer growth opportunities and align with their personal beliefs.
Technology plays a significant role in this shift. Young workers are embracing tools like ChatGPT and other AI platforms, finding that these technologies can enhance their productivity. However, many lack formal training in using these tools effectively, leading to a gap between their enthusiasm and their confidence. Dexter highlighted that employers who fail to provide the necessary training risk losing valuable talent.
Concerns about job security due to AI advancements are prevalent among young professionals. One millennial data analyst expressed his worries about the potential for AI to replace jobs, especially those that involve repetitive tasks. He fears that even if their jobs remain for now, they may face lower pay and poor working conditions in the future.
The survey also revealed that financial stress is a major concern for these young Australians. Over half of Gen Zs and millennials reported that financial worries are their top issue. Many are living paycheck to paycheck, which contributes to feelings of unhappiness in both their personal and professional lives.
Traditional higher education is also being reconsidered. Many Gen Zs are stepping away from university due to high costs and time constraints. Instead, they are seeking hands-on learning and mentorship opportunities. Dexter noted that financial and time pressures are pushing young people to look for training and growth within their workplaces, but often, that support is lacking.
Overall, the survey highlights a significant shift in what young workers in Australia want from their jobs. They are seeking meaningful work, support for mental well-being, and opportunities for growth in an ever-changing economic landscape.