Workers under 27 years old are looking for ’employers for life’, with Gen Z twice as likely to stay at the same firm than previous age-groups, research shows.
There has been a significant generational shift in attitudes among the cohort, with three quarters of 18 to 27-year-olds on the look out for longer term employment.
New research from Admiral shows youngsters are defying the norm of previous generations, with Gen Z wanting an ’employer for life’ who supports their goals to grow within a firm.
Nearly nine out of ten of the younger generation also prioritises the stability of finding a long-term employer when job-hunting.
Millennials are less likely to stay at a company, often switching firms to negotiate pay rises and to progress.
But unlike their predecessors, seven in ten of Gen Z prioritise developing a career within one firm over seeking more money.
The average youngster hopes to stay in a job for up to seven years, twice the average tenure.
Shoshanna Davis, a careers expert, said: ‘Employees want to be valued and have access to opportunities within the same company. For previous generations, working for one employer meant one role for life.
‘What we’re seeing now is people wanting to stay with the business but to have the chance to upskill, move within the business, and experience different roles.
‘If young people are given the right support and clear paths for progression, they’re far more likely to stay with an employer for the long term.
‘In today’s economic climate, the stability of a supportive workplace can make a huge difference, offering not just financial security but also a sense of purpose and belonging.’
Matt Wintle, the head of talent and acquisition at Admiral, said: ‘A trend we are seeing when recruiting for Admiral is that people, especially our younger colleagues, don’t want to learn and leave, they want to invest in their workplace, gain equity in the company, and are prioritising personal development and work-life balance.’
When compared to Millennials, Gen Z are less likely to place mental health support at a workplace over professional development opportunities.
Baby Boomers and Millennials have worked for the same amount of companies on average.
Kate McHugh, 37, Admiral project manager explained that she had joined the insurance firm in 2010 and is thrilled Gen Z aren’t job hopping.
‘I joined Admiral in 2010, when I was 23, and I would have never had the life I’ve had if I had chosen to leave and job-hop instead,’ she said.
‘At first it was simply a stop gap, but I quickly realised that Admiral could offer everything I wanted from my career and life plans.’
She said staying in the same company has allowed her to develop her career to the managerial level and has lead to entirely different career path in project management.
I don’t think I would have had those opportunities if I had chosen to work in a series of short-term jobs instead,’ she said.
‘It’s so great to see young people seeing the value in the same opportunity.’