power of values gen z employees are quitting, says linkedin
Company culture is becoming more significant to employees, and it can influence their decision to stay or leave their current position.
According to a LinkedIn survey, 87% of Gen Z professionals said they would be willing to leave their current jobs if the values of the new employer were more in line with their own.
The jobs and networking platform discovered that Millennials share these sentiments. When accounting for both groups, the percentage falls to 7 in 10 for Gen X. However, nearly 9 in 10 professionals would do so.
According to LinkedIn, millennials were born between 1981 and 1996 and are currently in their late twenties to early forties, while Gen Z was born between 1997 and 2012 and is currently in their late teens or early twenties. Those in their forties to late fifties who were born between 1965 and 1980 are referred to as Gen X.
According to Josh Graff, managing director for EMEA and LATAM at LinkedIn, “Younger generations, in particular, want to work for companies where they can, where they can evoke change, where they can make a difference.”
According to data from LinkedIn, 60% of millennials and Gen Zers said values could be a deciding factor when deciding whether to move to a new job or company.
According to the survey, which included 7,317 participants from the UK, France, Germany, and Ireland, 59% of European professionals said they would not work for a company if its values did not match theirs. A pay increase alone would not persuade 55% of those polled to remain at their current job.
Graff said the results of the survey highlight the significance of company values to an employee at a time when many are suffering from a cost-of-living crisis.
Graff notes that two significant factors have been driving this shift recently. One of them, according to him, is the coronavirus pandemic, which led many people to wonder where, why, and how they operate.
At the same time, he continued, “I think all of us, but especially younger generations, are more politically and socially aware over the last few years.”
According to data from LinkedIn, businesses have been adapting to job seekers’ shifting priorities. According to the platform, the number of entry-level job postings that mention company values has increased by 154% over the last two years.
This covers subjects like professional growth, educational opportunities, diversity, and work-life balance. According to the data, the latter is now mentioned 65% more frequently.
According to LinkedIn, the change is paying off for businesses because job postings that discuss values receive almost twice as many applications as they did two years ago.
This is crucial given the high demand for skilled workers and the persistently tight labor markets that have made it challenging for some businesses to hire and retain staff.
Over the next ten years, values will be crucial to the survival of many businesses, according to Graff.