The talent firm Randstad reports that nearly 40% of workers like their jobs enough to turn down a promotion. This intriguing response suggests that climbing the corporate ladder may no longer have the appeal that it used to.
The study included 27,000 people from Europe, the Americas, and the Asia Pacific, aged 18 to 67 and employed for a minimum of 24 hours a week.
Amsterdam-based Randstads’ annual work monitor report found that employees are happy with their jobs, with a further 1/3 never wanting to be managers. Randstad CEO Sander van't Noordende told Business Insider, "This means people's motivation at work is not necessarily just driven by promotions.”
Equity and skill development were reported to have also played a role in the employees’ career choices.Noordende said, “Talent is rethinking what ambition means, putting work-life balance, flexibility, equity, and skilling at the heart of career decisions."
Trends such as prioritising personal health and work-life balance have created hesitancy amongst Gen Z and Millennials, due to a “lack of trust in senior leadership and limited financial reward” for the responsibilities and stress they are expected to handle.
In recent years, new career trends have arisen that reflect this shift in employee mindset. One such trend is known as “quiet quitting”, which entails doing the bare minimum amount of work required to keep a job without going the extra mile. Similarly, “Bare Minimum Mondays” refers to a schedule of lower impact work on Monday whilst reserving tougher tasks for later on in the week. These growing trends encourage employees to take a laid-back approach to their work.
Van’t Noordende’s view on the matter is that employers need to adapt to the changing priorities of their employees:
"Employers need to look at progression beyond the traditional career ladder, taking into account the personal ambitions of each individual… employers need to look at progression beyond the traditional career ladder, taking into account the personal ambitions of each individual."
This comes after a Pew Research study found that only 45% of people aged 18 to 34 are financially independent from their parents. This may be linked to the fact that around 40% of adults between 25 and 29 have amassed more debt as a result of earning a college degree, compared to the 24% of people in that age bracket in 1993.
The study also shares that financial and cultural changes are responsible for delays in the achievement of key milestones. Matt Schulz, chief credit analyst at LendingTree, told The Post in 2022, “We’re likely to see young adults continue to put off important financial and personal milestones because they just can’t afford them.”
Although some employers have focused their incentives around a work-life balance by offering remote working options, a study published in 2023 by the New York Post further detailed the issues they face with Gen Z employees. 36% of respondents cite poor communication and a lack of focus as sources of conflict with their young employees, with a whopping 75% saying they are harder to work with than other generations.
Edited By Sydney Smith
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