The Gen Z (those born between 1997-2012) is most attracted to jobs in the IT sector, according to a report by Nasscom and Indeed. The report reveals that over 70 percent of Gen Z are interested in joining the IT sector as ‘techies.' The report, ‘Gen Z and Millennials: Reshaping the Future of Workforce’ states that 79 percent of Gen Z are also willing to spend more than two years in their first job if the employer provides them the right value proposition.
“We want to support the aspirations of Gen Zs and Millennials who will make up a large part of the workforce soon. We foresee the need to help this group of workers navigate the jobs sector whilst staying true to their beliefs. Gen Z workers prioritise a positive work-life balance. They seek work environments that are empathetic and diverse, offer learning opportunities, and align with their core values,” said Sashi Kumar, Head of Sales, Indeed.
According to the data in the report, over 3.8 lakh freshers were hired by the IT industry in FY22, contributing to an 18-20 percent Gen Z share in the overall workforce. Although Gen Z’s share in the IT sector is rising, millennials still top the list, accounting for 68-70 percent of the IT workforce in India.
“The workforce is changing and so are the workplaces. With newer perspectives and ideas, Gen Zs and Millennials are setting the future course of employee engagement, retention and acquisition strategies. It will be interesting to see how these newer generations shape India’s future as the talent hub of the world,” said Sangeeta Gupta, Senior VP, and Chief Strategy Officer, Nasscom said.
The new generation wants to work from office
Although work from home has sort off become a norm after the pandemic, according to the Nasscom-Indeed report, Gen Zs are more willing to work from office. Eighty-five percent of the Gen Zs surveyed preferred either working from office or in a hybrid model, a mix of working from office and home.
Meanwhile, when it comes to joining an organisation, for both Gen Zs and Millennials, brand value matters the most. Next comes, culture and ethics, and learning and growth. The report further highlights that better financial benefits, career growth and job satisfaction are the key criteria that the Gen Z keeps in mind when scouting for jobs. On the other hand, job stability and flexibility are important parameters for millennials.
Gen Zs and millennials made up 52 percent of India’s total population as of 2021 — 47 percent higher than the global average. According to the report, this trend is expected to maintain its momentum till 2030. The share of India’s Gen Z population and millennial population will be 50 percent higher than the global average of 46 percent.
