Do younger workers really want work-life balance?
Gen Z employees in Singapore have named income as the top factor in choosing their next employer, according to a survey from Reeracoen.
Respondents aged between 18 and 25 said the following are their top factors affecting their choice of employer: income, work-life balance and learning opportunities.
"Gen Zs are rethinking their approach to work, prioritising income over free time. This is in contrast to trends in other markets," said Kenji Naito, CEO of Reeracoen, in a media release.
The results contrast with another survey that found younger employees tend to prioritise work-life balance over salary.
Millennials, gen X want balance
For millennials aged between 26 and 41, the report found that they equally want income and work-life balance, followed by potential career growth.
Gen X employees, who are between 42 and 57, said their top factor would be work-life balance, followed by income, and then accessibility/location.
Overall, respondents said the top factors that would affect their choice of employer would be:
- work-life balance (42%)
- income (41%)
- potential career growth (13%)
- learning opportunities (10%)
- company's public image (4%)
Employers should take note of the findings, according to Naito, if they want to win the war on talent.
"As companies worldwide recover from COVID-19, the demand for global talent will intensify. Companies in Singapore have no choice but to up their game if they want to compete. To do this effectively, they must have an effective strategy to attract the best talent. Only through understanding the needs of job seekers will businesses be able to do this effectively," he said.
