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NextGen Magazine

 
 

Survey: Gen Z Prioritizes Work-Life Balance Above Compensation

By:
Karen Sibayan
Published Date:
Sep 20, 2024

  GettyImages-914314318 Students Class Working Studying

Quality of life is the driving force that guides Gen Z's priorities in the workplace, according to a recent survey by Top Employers Institute, MarketWatch reported. 

Gen Z's focus on quality of life is one of the main findings of the survey. Top Employers Institute is a Netherlands-based global organization focusing on human resources strategies. The survey’s participants comprised 1,700 people across nine countries and four continents in the 18-to-27 age range.

In an accompanying report, the institute put together the insights gained with what it learned from 2,366 global top employers to find out if businesses are ready for the future influx of new Gen Z talent.

According to the Top Employers Institute, members of Gen Z prioritize sustainable performance, most clearly shown in the age range's attitudes toward well-being. When asked if they would accept a lower salary if it meant a better work-life balance, 62% of participants said yes. 

The institute said that previous research demonstrated that the cost of living is a major Gen Z concern as well, given that roughly half of its members live paycheck to paycheck and 35% state that it is society's biggest problem. The fact that 62% of the survey's respondents agreed to lower salaries highlights how important work-life balance is to the age group.

Other findings spoke to similar Gen Z priorities. The survey found that 82% of respondents said it was essential to have schedule flexibility, while 83% said their employers have a responsibility to support their psychological health.

Additionally, according to the survey, 81% of Gen Z respondents stated that employers are obligated to support the physical well-being of their employees. 

According to the survey, the 2-3 percentage point difference between psychological and physical well-being was consistent across all countries. The Top Employers Institute said that this could be the result of the recent extreme shortage of government-provided psychological health care.

The Top Employers Institute concluded that Gen Z is introducing "fresh and challenging perspectives into our workplaces." Members of this age group believe that organizations should reflect the values of ambition, balance, and genuineness and would not hesitate to leave their companies if these values are not upheld. While their arrival may cause some friction in the beginning, Gen Z's high standards will raise the yardstick and benefit everyone, the company said.

The company said that in 2025, the importance of job security and work-life balance will increase, adding that there will be a "realignment of values" irrespective of generation.

MarketWatch quoted Jake Canull, a regional director for the Top Employers Institute, as saying that the survey results speak to Gen Z's need for workplace "stability, sustainability, and safety." Canull stated that this need stems from the fact that many members of Gen Z began their careers during the tumultuous days of the pandemic and now are looking for more normalcy.