Market uncertainty has a direct impact on the behavior of the new (digital) generations. We’re talking about people who have grown up surrounded by digital devices and who know everything about them.
At the same time, these generations face real issues, such as the high cost of living, which is at the top of their list of concerns. According to a study by Deloitte, there has been an increase from 29% in 2022 to 35% in 2023. This study, which includes 14,483 Generation Z people (Gen Zs) and 8,373 Millennials from 44 countries, also indicates that stress and anxiety levels remain high and burnout is on the rise; in fact, almost half of Gen Zs (46%) and four out of ten Millennials (39%) say they feel stressed or anxious at work all day or most of the time.
On the other hand, climate change is a major concern for Gen Zs and Millennials, at a time when many are basing their career decisions on its principles and aspire to be able to promote transformations in their organizations.
Factors for choosing an IT company
If we take all of the above into account, whether it’s changes in society or technological development, what should be considered when choosing an IT company?
- Organizational culture: Promoting diversity, personal growth and training programs are key factors in choosing IT companies for the younger generations. It is also crucial to establish work-life balance policies, as the new generations attach greater importance to life outside work. They believe that creating a harmonious balance is essential to improving not only their physical, emotional and mental well-being, but also their career.
- Innovation: When choosing a company, this is an important issue; therefore, the new location should have challenging, innovative and valuable projects (where professionals can not only acquire new skills, but also stimulate critical and creative thinking).
- Internal mobility: The desire for more internal mobility is a key factor in retaining talent. In fact, many employees don’t feel encouraged to take on new roles internally and don’t feel comfortable discussing internal opportunities openly with their managers. In addition, many don’t know who they should talk to in the organization about internal mobility opportunities when they are looking for a new role in the company.
- Benefits beyond salary: It’s not just remuneration that should be considered when drawing up an IT professional’s list of priorities; the new generations are looking for much more than that. We’re talking about health insurance, helping employees with their children’s education, reducing employees’ financial insecurity by giving them immediate liquidity, and so on.
Basically, it’s becoming increasingly reductive for companies to limit themselves to the salary package, as there are other equally important aspects to consider. According to a Lever study, 42% of Gen Z prefer a company with values in line with their own, rather than a good salary. That must make you think, right?
- Social and environmental responsibility: Environmental awareness is no longer a trend. In fact, as time goes by, this aspect becomes increasingly important, and new generations are looking for organizations that demonstrate a strong commitment to social, environmental and economic responsibility. It’s about creating initiatives such as volunteer programs, investing in social and environmental causes, creating strategic plans to achieve carbon neutrality and preserving nature.
Much more than just a workplace
If we look at the McKinsey report, we see that, unlike previous generations, these young people don’t believe that financial uncertainty will ever end. A generational gap is also visible in the workplace, with clear differences between Gen Z and other generations in terms of their outlook, ability to work effectively and the future.
In addition, it’s easy to understand from this study that the younger generations value aspects such as work-life balance, compensation and mental health issues, and also like the power of having the flexibility to work multiple jobs or in independent positions.
After all, the important thing for these new generations is to make careful analyses when looking for an IT company to work for. It’s not enough to say yes and go. It is very important to analyze the organizational culture and whether it is transparent and inclusive, but also to understand whether there are innovative and disruptive projects that could pose challenges for employees.
It is essential to identify whether these organizations are investing in work-life balance programs and whether they have good training and professional development opportunities. Money alone is no longer the only key factor in choosing a new employer.
