Singapore’s Gen Z prioritises income over free time

Originally published by Yahoo! Finance on Dec 12th, 2022

Gen Z prioritises income over free time as millennials consider work and income equally important, while Gen X continues to place work-life balance as their top priority.

Overall, work culture is changing alongside young people’s attitude towards it, and for human resources professionals, things have never been more challenging. Companies, meanwhile, must contend with demographic changes, changing expectations, and the challenge of attracting other young talents.

Shifting Attitudes Towards Work and Career

Reeracoen Singapore conducted a survey in partnership with Rakuten Insight Global to understand shifts in workers’ attitudes post-pandemic and help employers tailor their recruitment strategies to attract the best talent across three demographics: Gen Z (18-25), Millennial (26-41), and Gen X (42-57).

Their responses highlighted five Top Factors Affecting their choice of employer.

  • 1. Work-life balance (42%)
  • 2. Income (41%)
  • 3. Potential Career Growth (13%)
  • 4. Learning opportunities (10%)
  • 5. Company’s public image (4%)

In addition, the results found several significant differences between generations.

  • ● Unlike other age groups, Gen Xers place “Work-life Balance” (46%) as their top priority, with “Income” second and “Accessibility/Location” third.
  • ● Gen Zs chose “Income” (43%) as their highest priority, followed by “Work-Life Balance” and “Learning Opportunities.”
  • ● Millennials weighted “Income” and “Work-Life Balance” an equal 43%, followed by “Potential Career Growth”.
  • ● Respondents in the “tourism, leisure, hospitality, F&B”, “human resources”, and “publishing/ printing/ advertising/ broadcasting” industries were likelier to prioritise work-life balance over other factors, including income.

Read the full article!

Related articles: Gen Z shopping behaviour and brand preferences.

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