Generation Z is the most disruptive generation in modern history. Instead of waiting for ideas to filter through the generations that came before them, Gen Z are go-getters and trendsetters. Social media has demolished all barriers to communicating about brands and products, meaning that corporations that are potential employers will be more intensively researched and scrutinised by job seekers than ever before.
So how does this play out in Asia? In some markets, falling birth rates in countries such as Hong Kong, Korea, Singapore and Taiwan, and even the one-child policy in China, means that societies will need to rely on a smaller pool of workers to support them, and to repair environmental and debt problems created by previous generations.
Tough competition
The talent shortage in Asia will become even more acute, with organisations having to compete harder to attract the best of the new generation of employees. Adecco partnered with market research firm BDRC Asia to conduct a survey of 15 – 18 years olds across Asia—Gen Z. This is the demographic that was born from 1995 and are now beginning to enter the workforce or making decisions about the higher education that will later influence their careers.
A total of 948 Gen Z surveys were conducted across Asia, comprising an equal mix of male and female respondents in China, Hong Kong, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand and Vietnam. The survey assessed Gen Z’s ambitions, their employment preferences, their attitudes to the workplace, and how optimistic they are about the future—in work and in life.
Growing confidence
The research results highlight interesting regional differences. In SE Asia, for example, Gen Z is more confident than their counterparts in Greater China and North Asia about how well their education will prepare them for the workplace. Some highlight that internships with employers are giving them the required exposure to the workplace that will give them confidence in taking up their first employment opportunity.
Gen Z will not rush into employment—many will go to university, including some with an appetite for taking higher degrees and, among those graduating ,most expect to take 6 – 12 months before finding their preferred employer. This means that Gen Z will most likely seek casual, or temporary employment, to give them more time to look and to ensure that their first full-time employment is with an organisation that really meets their career needs.
Social media will be important in shaping their choices for employment, with 26% of Gen Z intending to use social media to seek advice on careers, and 50% intending to use career-related websites to obtain information on specific companies that they are looking at joining. This is not surprising given that they typically spend 2 – 4 hours every day on social media.
What’s in a name?
Gen Z is willing to invest in their future, with the majority prepared to take a lower salary in their first employment to get better training and experience. They are, however, less willing to trade off salary to get a big name employer on their résumé, demonstrating that lesser-known companies who can give a wider range of experience, combined with a more fun and interesting working environment, will be able to attract Gen Z over some larger, big-name corporations.
Planning ahead
Most Gen Zers have a responsible attitude towards planning for their future, as shown by their intention to commence pension planning early on in their working lives. Gen Z is optimistic, maybe unrealistically so in some countries, that they will be able to retire in their mid to late 50s.
With Asia being the world’s growth region, optimism is prevalent with most of Gen Z thinking that they will be better off than their parents within their lifetime. No more so than in SE Asia and in particular Malaysia, Thailand, and Vietnam. For Gen Z, they see that economic growth is creating opportunities that were not available to their parents, and this manifests itself in more choices. Notably, most of Gen Z has a preference for working in service industries such as advertising, marketing, consulting, media, hospitality, the professions, as well as in arts, sports and entertainment. Very few of those surveyed showed interest in the more traditional industries, such as manufacturing, with fewer wanting to work in the wholesale trade—traditionally the backbone of industry in some Asian markets.
Entrepreneurial spirit
Gen Z is entrepreneurial—that is clear from the findings, with about 30% stating that running their own business ‘definitely appeals to them’, with another 40% possibly considering entrepreneurialism ‘if the right opportunity arises’. They are also confident about keeping up with changing technology and it is in the area of technology itself that Gen Z expects to have the biggest changes in the workplace, with work becoming ‘more convenient’ through initiatives such as remote working. Of those who might consider entrepreneurialism and starting their own business, about half will consider this in their 20s, and a similar number will do this as a start-up rather than taking over an existing business such as a family enterprise, particularly so in China and Taiwan.
Asia can look forward to a world where there will be more start-up businesses, with GDP being driven more by service industries. The question as always, is how many of these start-ups will succeed? Audrey Low, Country Manager, Adecco Hong Kong commented, “Generation Z views a job not just as a means to pay for living costs, but rather a route to exploring their passions and hobbies as the findings show that Gen Z will not rush into employment—especially since those graduating expect to take at least six months before they find their ‘preferred employer’. The survey also reveals the preferences, behaviours and attitudes of Gen Z, which will support HR with useful hints and advice on how to recruit and retain these new arrivals to the workforce.”
Security is key
Despite this entrepreneurial spirit, society will still be able to rely on its public servants in the future. A total of 40% of Gen Z will consider working for the government or public sector, and in fact about 20% state that this will be their preferred type of employer after leaving education, although this is skewed more towards responses from SE Asia.
And for many Gen Zers, ‘job security’ ranks as the most important employment attribute, with many still preferring full-time employment, which is indicative of Asia’s low rates of unemployment, with under-employment existing in some regional markets.
Commenting on the research findings, Christophe Duchatellier, CEO, Adecco Asia concluded, “The findings show that the next generation of workers in Asia are going to be more entrepreneurial in how they approach the workplace and will want things to happen on their own terms—especially in regional markets where talent or specific skills shortages are prevalent. The survey reveals some interesting geographical differences, from North to South Asia, in how Gen Z view work and the factors that influence how and when they will work.”
Paul Arkwright
Publisher
