Generation Z – The Next Generation Of Workers In Asia |
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| Generation Z ('Gen Z') is the most disruptive generation in modern history. Instead of waiting for ideas to filter through the generations that came before them, Gen Z are go-getters and trendsetters. Social media has demolished all barriers to communicating about brands and products, meaning that corporations as potential employers will be more intensively researched and scrutinised by job seekers than ever before. |
| How does this play out in Asia? In some markets, falling birth rates in countries such as Hong Kong, Korea, Singapore and Taiwan, and even the one-child policy in China, means that societies will need to rely on a 'smaller pool' of workers to support them, and to repair the environmental and debt problems that previous generations have sometimes created. |
| The talent shortage in Asia will become even more acute, with organisations having to compete harder to attract the best of the new generation of employees. |
| Adecco, the world leader in human resource solutions, partnered with market research expert BDRC Asia, to conduct a survey of 15-18 years olds across Asia – Gen Z. This is the demographic that was first born in 1995 and who are now beginning to enter the workforce or making decisions about the higher education that will later influence their careers. |
| 948 surveys were conducted with Gen Z across Asia, comprising an equal mix of male and female respondents in China, Hong Kong, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand and Vietnam. The survey assessed Gen Z's ambitions, their employment preferences, their attitudes to the workplace, and how optimistic they are about the future – in work and in life. |
| The research results highlight interesting regional differences. In SE Asia, for example, Gen Z is more confident than their counterparts in Greater China and North Asia about how well their education will prepare them for the workplace. Some highlight that internships with employers are giving them the required exposure to the workplace that will give them the confidence in taking up their first employment opportunity. |
| Gen Z will not rush into employment – many will go to university (including some with an appetite for taking higher degrees) and among those graduating most expect to take 6-12 months before they find their 'preferred employer'. This means that Gen Z will most likely seek casual, or temporary employment, to give them more time to look and to ensure that their first full-time employment is with an organisation that really meets their career needs. |
| Social media will be important in shaping their choices for employment. 26% of Gen Z state they will use social media to seek advice on careers, and 50% will use career related websites to obtain information on specific companies that they are looking at joining – which is not surprising given that they typically spend 2-4 hours every day on social media. |
| Gen Z is willing to invest in their future – the majority are prepared to take a lower salary in their first employment to get better training and experience. However, they are less willing to trade off salary to get a 'big name' employer on their resume, demonstrating that lesser known companies who can give a wider range of experience, combined with a more fun and interesting working environment, will be able to attract Gen Z over some larger, big name corporations. |
| Most of Gen Z take responsible attitudes towards planning for their future, shown by their intention to commence pension planning early on in their working lives. Gen Z is optimistic (maybe unrealistically so in some countries) that they will be able to retire in their mid to late 50's |
| With Asia being the world's growth region, optimism is prevalent with most of Gen Z thinking that they will be better off than their parents within their lifetime. No more so than in SE Asia and in particular in Malaysia, Thailand, and Vietnam. For Gen Z, they see that economic growth is creating opportunities that were not available to their parents, and this manifests itself in more choices. Notably, most of Gen Z has a preference for working in service industries, e.g. advertising, marketing, consulting, media, hospitality, the professions, as well as in arts, sports and entertainment. |
| Very few of those surveyed show interest in the more traditional industries, such as manufacturing, with fewer wanting to work in the wholesale trade – traditionally the backbone of industry in some Asia markets. |
| Gen Z is entrepreneurial – that is clear from the findings. About 30% state that running their own business 'definitely appeals to them', with another 40% who might consider entrepreneurialism 'if the right opportunity arises'. They are also confident about keeping up with changing technology and it is in the area of technology itself that Gen Z expects to have the biggest changes in the workplace, generally being able to make work 'more convenient' for people, e.g. working remotely |
| Of those who might consider entrepreneurialism and starting their own business, about half will consider this in their 20's, and a similar number will do this as a start-up rather than taking over an existing business such as a family enterprise, particularly so in China and Taiwan. |
| Despite this, society will still be able rely on its public servants in the future. 40% of Gen Z will consider working for the Government or public sector, and in fact about 20% state that this will be their preferred type of employer after leaving education (although this is skewed more towards responses from SE Asia). |
| And for many Gen Z, 'job security' ranks as the most important employment attribute, with many still preferring full-time employment. This is indicative of Asia's low rates of unemployment, with under-employment existing in some regional markets. |
| Asia can look forward to a world where there will be more start-up businesses, and with GDP being driven more by service industries. The question as always, is how many of these start-ups will succeed? |
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| A copy of the full survey findings is available from your Adecco contact. For further details about Adecco in Asia, please see adecco-asia.com |
| Adecco Asia: China Hong Kong Japan Malaysia Singapore South Korea Taiwan Thailand Vietnam |
| Adecco Thailand is a leader in human resource solutions, recruitment services, employment & outsourcing services, HR consulting, training solutions and outplacement services. With over 24 years experience in Thailand, the company has developed an extensive network and expertise to assist clients in building successful teams. Operating through 10 business units, Adecco Thailand connects over 10,000 people each day through a network of over 200 Employers. For further details, please visit www.adecco.co.th |
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White Paper: Generation Z – The Next Generation Of Workers In Asia
April 07, 2014
Survey/White paper
