Young people are leading the great resignation

By Jon Bragg

April 08 2022
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Almost a third of Gen Z and Millennial workers are actively seeking a new role.

Young people are leading the great resignation

A new global study from HR firm Randstad has found that 32 per cent of Gen Z and 28 per cent of Millennials are actively seeking new roles.

These younger generations are driving a shift in the dynamic between employers and employees, according to Randstad, with nearly half of Gen Z and Millennials noting that they would decline a job that didn’t align with their values on social and environmental issues.

Additionally, 56 per cent of Gen Z and 55 per cent of Millennials said they would quit their job if it was preventing them from enjoying their life, compared to just 38 per cent of Baby Boomers.

As further evidence of the great resignation, Randstad noted that 70 per cent of workers globally and 64 per cent of those in Australia are open to new job opportunities.

“There’s a clear power shift under way in offices around the globe, including Australia, driven by a workforce still recovering from the pandemic,” said Randstad ANZ CEO Nick Pesch.

“Many workers are rethinking priorities and choosing to prioritise personal fulfilment, no longer afraid to move on from roles that don’t align with their values. Amid ongoing critical talent shortages, businesses need to rethink their approach to attracting and retaining staff.”

While the majority of global workers said that flexible hours (83 per cent) and flexible work locations (71 per cent) are important to them, 40 per cent admitted they can’t currently control their working hours and 53 per cent felt they did not have any flexibility about where they work.

Over the past year, only 36 per cent of workers have received an increase in remuneration package and only 22 per cent have received increased benefits such as annual leave.

Reflecting the preference of many young people to put their values first, 49 per cent of Gen Z and 46 per cent of Millennials, globally, said that they wouldn't work for a business that wasn’t making a proactive effort to improve its diversity and equity, versus a third of Baby Boomers.

42 per cent of Gen Z and 40 per cent of Millennials also said they wouldn’t mind earning less if they felt their job was contributing something to the world or society.

“Young people want to bring their whole selves to work, which is reflected in their determination not to compromise their personal values when choosing an employer,” said Mr Pesch.

“Our research and experience working with candidates in Australia points to an increasing expectation that organisations will take a stand on social and environmental issues. Companies that are shown to be taking positive action will find themselves more attractive and better able to retain loyal talent.”

Three quarters of Aussies said they felt their employer’s values and purpose aligned with their own while 38 per cent said they wouldn’t accept a job that didn’t align with their values.

Work life balance was identified by 95 per cent of Aussie workers as the most important quality they look for in a job followed by 72 per cent who highlighted training and development opportunities.

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