Young Gen Z workers want more than just pay

Today’s skilled workers see their persona, their personal brand, as being tied to the work they do and to the organisation they work for, writes Bernard Salt.

I am not a fan of the idea that behavioural traits can be ascribed to entire generations such as Baby Boomers and Millennials. There’s dispute about when generations start and finish, and there are always exceptions to the rule. The fact is some people simply do not act their generation!

However, it is also true that communities sharing common experiences tend to absorb similar values. For example, those who lived through the Great Depression carried the scars of this experience for the rest of their lives. I think this lot should be known as The Frugals.

The argument is that we are shaped by the times in which we live. Australia has prospered over the past 30 years as globalisation opened up new trading markets in place like China. Boomers, Xers and Millennials benefited mightily from these decades of prosperity. The experience must have shaped the expectations of everyday Australians.

In hindsight, a good time to have started a business as a 30-year-old in Australia would have been in the wake of the last recession in, say, 1993. It would have taken courage or maybe a touch of foolhardiness to risk everything at that time in history. And yet this was perfect timing because the economy subsequently expanded throughout what became known as the long boom.

And this brings me to my point. After decades of rising prosperity, sullied only by the economic impact of the lockdowns, we have now entered a phase of wanting more from our jobs than mere access to an income stream.

Young workers spilling into the workforce in this decade will fairly expect competitive pay and conditions. But I think these next-gen workers will want something more, something that previous generations may not have thought about. They will want to work in businesses, in organisations, that make a difference, that offer meaning, that have a clear purpose. And then project this narrative to the wider community. This sense of purpose must be authentic and transparent, setting the tone from top down and bottom up.

Here is the idea that today’s skilled workers see their persona, their personal brand, as being tied to the work they do and to the organisation they work for. It’s a line of thinking that could only emerge at a time when prosperity and work options seem forever assured.

Is this organisation clean, green, ethical? Does it give back to the community? Are there opportunities for me to grow as an individual? Can I have access to a skills and training program that is tailored to me, that helps me move forward? Do I feel comfortable, or even proud, to announce to my friends that I am working for this organisation?

Such questions would suggest that workers are no longer looking to merely earn a wage to buy a house and raise a family; they also want to feel good about the work they do.

This is a grand ideal, surely. But no grander, no less passionate, than the crazy-brave idea of starting a business in the wake of the worst recession since the 1930s. And besides, who knows, maybe the way forward for this nation really does involve harnessing the goodwill, the big thinking, the unfiltered self-confidence of the next generation of workers into wanting to rebuild a better Australia.