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Adecco coffee morning apr 2014 generation z

Gen Z - the New generation

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Adecco coffee morning apr 2014 generation z

  1. 1. 1
  2. 2. 2 Generation Z How Does The Workforce Of Tomorrow Look Today? An In-depth Adecco Asia Study About Gen Z In Asia
  3. 3. 3 The Baby Boomers were followed by Gen X and Gen Y. Now we welcome Gen Z to the workplace The first Gen Z were born in 1995, meaning that some are now in their nineteenth year, and beginning to enter the work place This new generation is different to previous generations….with different opinions and thoughts about their working lives. This Adecco Asia study shows where the differences exist and what we can expect
  4. 4. 4 Method and Sample Method: 948 online surveys conducted in 9 markets (China, HK, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, Vietnam) - An Adecco Asia survey in partnership with BDRC Asia Dates: Surveys conducted on 25th – 31st January 2014 Sample: Who we surveyed: All markets N= 948 SG (n=105) MY (n=111) TH (n=104) VN (n=105) CN (n=101) TW (n=104) HK (n=102) JP (n=107) KR (n=109) Those who were born in the year 1995 to 1998, ages 15-18 years old, with an equal split of males and female
  5. 5. Education
  6. 6. 6 Current Occupation Key take out: The majority of those surveyed, being aged 15-18 years, are currently in education. Only a small minority had already entered the workforce Currently in school / college 89% 84% 97% 99% 92% 91% 100% 93% 95% Working full time In National Service OR Neither working / studying 10% 14% 1% 1% 4% 5% - 7% 3% 2% 2% 2% - 4% 4% - 1% 2% Base: (n= 105) (n=111) (n=104) (n=105) (n=101) (n=104) (n=102) (n=107) (n=109) SG MY TH VN CN TW HK JP KR
  7. 7. 7 When Gen Z plans to leave education (among those currently in education) Key take out: Most plan to go onto tertiary education, but less so in Vietnam and Korea. Some had plans for Masters of PhDs, highest in Singapore (26%), Malaysia (25%), China (24%), and Taiwan (21%) SG MY TH VN CH TW HK JP KR After completing tertiary / higher degree education 82% 28% 69% 65% 69% 71% 14% 81% 81% After completing secondary education (lower and upper)SG KR 18% 72% MY JP 31% 31% TH HK 35% 29% VN TW 86% 19% CH 19% Base: SG (n= 93); MY (n=93); TH (n=101); VN (n=104); CH (n=93); TW (n=95); HK (n=102); JP (n=99); KR (n=104) Intend to leave education system
  8. 8. 8 Views of whether education is preparing Gen Z for the workplace Q. How confident do you feel that your education will prepare you sufficiently for the workplace? Key take out: Relatively few Gen Z are ‘very confident’ that their education will prepare themselves sufficiently for the workplace. Many in Greater China (especially China) and most notably in Japan, are not confident that their education will prepare them sufficiently for the workplace SG MY TH VN CH TW HK JP KR 9% 23% 30% 29% 9% 3% 4% 8% 25% 54% 45% 54% 57% 33% 40% 39% 22% 39% 21% 24% 13% 12% 22% 32% 31% 22% 28% 16% 8% 4% 2% 37% 25% 25% 47% 8% Singapore Malaysia Thailand Vietnam China Taiwan Hong Kong Japan Korea Not confident (Not that/at all) Unsure Quite confident Very Confident Base: (n= 105) (n=111) (n=104) (n=105) (n=101) (n=104) (n=102) (n=107) (n=109)
  9. 9. 9 Reasons why education does / does not prepare Gen Z for the workplace Regional overview Very/quite confident 58% Unsure 23% Not confident 19% Note: Includes responses 4% and above Reasons why confident (n= 551) Have enough knowledge/ studied a lot of different things: 10% (China 17%, Vietnam 16%) Gained a lot of experience during study / internship: 8% (Singapore 18%) My education is a stepping stone that helps prepare/grant knowledge for work: 6% (Singapore 17%; Korea 12%) Determined to study hard / work harder: 5% (Thailand 10%) Has given self-confidence: 4% (Thailand 9%; Vietnam 8%) Have good grades: 4% (Vietnam 13%; Japan 9%) Have good / great education: 4% (Vietnam 11%; Malaysia 8%) Taking a course that will help me for my future: 4% (Singapore 11%) Don’t know: 30% Reasons why NOT confident (n= 180) Don't have much knowledge Haven't learned it all: 15% (Japan 28%) Things learnt from school are not related/relevant to work/useless: 8% (Hong Kong 15%; China 14%) Lack of practice/experience : 7% (China 16%; Hong Kong 15%) School education is too broad/more on theoretical knowledge: 6% (Singapore 29%; China 14%) Young / still in high school / haven't started yet in college: 5% (Japan 14%) I don't have the type of ability/qualifications for work: 4% (Taiwan 12%; Japan 10%) Reasons why unsure (n= 217) Things learnt from school are not related/relevant to work / useless: 9% (Thailand 31%; China 18%) Lack of experience: 6% (China 23%; Malaysia 15%) Don’t know what future holds: 5% (Malaysia 11%) Don’t know: 28% Don't have much knowledge/haven't learned it all: 5% Don’t know: 44% Base (N=948)
  10. 10. Career Planning
  11. 11. 11 Key take out: Only a minority expect to have found employment before they leave education, and some expect to take up to a year to find employment (the longest being in Korea). This suggests that stop-gaps will be needed for many of the Gen Z. The exception is Japan where most expect to have found employment before leaving education, and to find their preferred employer quite quickly. Average time Gen Z expect to take to find preferred employment (months) (Among those not working) % expecting to secure employment before leaving education SG (n=103) MY (n=109) TH (n=102) VN (n=105) CH (n=97) TW (n=100) HK (n=102) JP (n=106) KR (n=107) 7 months 8 months 6 months 5 months 10 months 10 months 10 months 4 months 13 months 12% 15% 29% 25% 9% 13% 10% 62% 17%
  12. 12. 12 Number of organisations that Gen Z expect to work for in their entire lifetime Key take out: not surprisingly, there is a lot of uncertainty about how many companies people expect to work for in their lifetime, especially in Vietnam (maybe because it is the most developing of all markets surveyed), but typically it is 3 or 4. Notably 27% of Gen Z in Malaysia only expect to work for one company/organisation in their entire lifetime SG (n=105) MY (n=111) TH (n=104) VN (n=105) CH (n=101) TW (n=104) HK (n=102) JP (n=107) 2% 9% 18% 14% 7% 6% 4% 27% 12% 44% 44% 46% 55% 39% 31% 34% 28% 59% 25% 20% 13% 20% 20% 13% 35% 10% 9% 30% 27% 22% 10% 35% 51% 26% 35% 20% 1 company 2-3 companies 4+ companies Don't know KR (n=109) Average 4 3 3 3 3 3 4 2 3
  13. 13. 13 Where Gen Z would refer to for advice on careers (1) Primary Sources Key take outs: Overall, family members are most likely to be referred to for advice on careers, the highest being in Thailand. Most will also refer to teachers and career advisors in the school, with about half referring to their friends SG MY TH VN CH TW HK JP KR 74% 72% 78% 84% 76% 76% 76% 76% 75% Family members Friends Teachers/advisors SG MY TH VN CH TW HK JP KR 63% 60% 64% 58% 57% 63% 54% 55% 53% SG MY TH VN CH TW HK JP 50% 46% 51% 48% 40% 60% 51% 60% 68%KR Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109)
  14. 14. 14 Where Gen Z would refer to for advice on careers (2) Secondary Sources Key take out: Media is also important to Gen Z including both publications and social media, although this varies a lot more between countries. Those in Vietnam most likely to refer to publications and social media, whereas Gen Z in Korea and Vietnam being least likely. SG MY TH VN CH TW HK JP KR 33% 17% 28% 32% 28% 39% 46% 26% 44% News relating to employment jobs Social media SG MY TH VN CH TW HK JP KR 23% 9% 32% 41% 11% 23% 54%22% 19% Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) Average hours / day spent on social / digital media 1 hour - JP 2 hours – VN, CH, KR 3 hours - SG, MY & HK 4 hours – TH & TW
  15. 15. 15 How Gen Z would seek information on specific potential employers Leading Sources Key take outs: again, family & friends are one of the leading sources of information on specific companies, but most will also refer to company websites. Internet forums are also influential on how Gen Z would view specific companies meaning word-of-mouth will play an important role in evaluating potential employers SG MY TH VN CH TW HK JP KR 67% 51% 65% 64% 47% 56% 53% 52% 63% Family and friends Internet forums Company websites SG MY TH VN CH TW HK JP KR 70% 40% 57% 44% 62% 63% 69%57% 52% SG MY TH VN CH TW HK JP KR Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) 48% 11% 61% 57% 52% 47% 71% 67% 42%
  16. 16. 16 Will do things differently 46% Nothing 5% Don't know 49% What Gen Z will do differently from parents Engage in different types of careers and sectors , IT, banking, own business, etc: 10% (Japan 47%) Better outlook: 7% (more dynamic, competitive, work harder etc.) (Vietnam 24%; Thailand 15%) Key take out: Almost half of Gen Z say they will ‘do things differently’ from their parents (although most do not know). Those in emerging markets, e.g. Vietnam (74%), Thailand (66%), and China (60%) are more likely to say they will do things differently, those in Hong Kong (28%) and Taiwan (31%) least likely What will Gen Z do differently from their parents? Regional Summary Note: Includes responses 2% and above Better job quality, more opportunities and better income: 12% (Thailand 25%; Vietnam 19%) Deal things my own way/independent: 2% (Vietnam 6%) Higher education: 2% (Thailand 10%) More modern/up-to-date/new/ innovation: 2% (Vietnam 8%) Base (N=948)
  17. 17. 17 When Gen Z feel they can permanently stop working Key take outs: (maybe naïve), but Gen Z are confident about early retirement with a sizeable proportion believing they can stop working in their 50’s or earlier. Those in Japan expect the longest careers with 29% expecting to work beyond 65 years. Those in Malaysia and Thailand are expecting the earliest retirement age. Perhaps most importantly, Gen Z have an expectation of when they can retire, and therefore might plan around this, e.g. financially SG MY TH VN CH TW HK JP KR 5% 2% 6% 2% 8% 8% 8% 9% 1% 15% 4% 6% 10% 12% 13% 12% 29% 20% 23% 14% 13% 27% 20% 18% 25% 37% 25% 26% 44% 34% 46% 36% 22% 32% 7% 21% 19% 32% 34% 12% 21% 21% 19% 3% 10% 12% 5% 9% 3% 4% 18% 5% 15% 23% Singapore Malaysia Thailand Vietnam China Taiwan Hong Kong Japan Korea Don't know below 51 years 51-60 years 61-65 years 66 + years Never Base: Average: 58 years 54 years 55 years 58 years 58 years 59 years 59 years 65 years 60 years (n= 105) (n=111) (n=104) (n=105) (n=101) (n=104) (n=102) (n=107) (n=109)
  18. 18. 18 How Gen Z thinks the workplace will be different in 5 to 10 years - Total Key take out: Similar to whether Gen Z would do things differently to their parents, the biggest change is expected in the emerging markets – Vietnam (79%), Malaysia (67%), Thailand (64%), and less so in Taiwan (30%), Hong Kong (37%), and Korea (32%) Note: Includes responses 3% and above Things will be different 51% Nothing 2% Don't know 47% How things will be different: Faster / more convenient - 12% (Malaysia 18%) Better job quality / opportunity / communication - 6% (China 13%; Vietnam 12%) Better technology or innovation – 24% (Vietnam 38%; Singapore 33%; Thailand 32%) Changes in work environment / facilities – 6% (Vietnam 18%) Base (N=948)
  19. 19. Values and Attitudes
  20. 20. 20 Gen Z values and attitudes towards employment (1) 33% 28% 38% 61% 40% 36% 33% 33% 30% 3% 13% 7% 24% 14% 15% 11% 7% 11% -18% -17% -14% -6% -14% -11% -13% -19% -16% -3% -6% -3% -1% -2% -2% -5% -8% -5% SG MY TH VN CH TW HK JP KR “I am willing to take a lower salary for better training and experience” Agree strongly Tend to agree Tend to disagree Disagree strongly 13% 21% 24% 30% 23% 20% 26% 11% 19% 4% 8% 6% 11% 5% 4% 10% 3% 7% -30% -22% -24% -27% -29% -24% -19% -36% -24% -12% -17% -8% -4% -6% -3% -7% -18% -7% “I am willing to take a lower salary to get a „big name‟ on my resume” Agree strongly Tend to agree Tend to disagree Disagree strongly Key take outs: Mostly, Gen Z are willing to trade/offset salary for better experience and training in their early career, especially in Vietnam. However, they are less convinced about trading off salary for a ‘big name’ on their resume, particularly in Singapore and Japan, and to an extent in Malaysia. This may be because there are already many ‘big names’ in these markets
  21. 21. 21 Gen Z values and attitudes towards employment (2) 37% 32% 45% 59% 48% 40% 51% 36% 37% 53% 56% 46% 34% 21% 50% 34% 50% 46% -1% -3% -3% -3% -6% -4% -4% -1%-1% -2% -1% -1% SG MY TH VN CH TW HK JP KR “Job security is important to me” Agree strongly Tend to agree Tend to disagree Disagree strongly 11% 23% 21% 26% 18% 23% 29% 37% 19%2% 11% 4% 5% 10% 6% 7% 6% 6% -24% -16% -38% -27% -27% -17% -14% -20% -28% -17% -10% -13% -16% -8% -10% -3% -6% -6% “I will NOT be loyal to my employer, e.g. I will move jobs if I get a better offer” Agree strongly Tend to agree Tend to disagree Disagree strongly Key take outs: Job security is almost universally important, but fewer in China ‘strongly agree’ with this statement. Loyalty varies a lot between market, and Gen Z might be more changeable in Singapore, Thailand, and Vietnam, with more loyalty in Malaysia, Hong Kong and Japan. It should be noted though that on balance, Gen Z will show an equal level of loyalty and disloyalty to their employers
  22. 22. 22 Gen Z values and attitudes towards employment (3) 35% 32% 43% 59% 45% 25% 36% 20% 32% 18% 28% 29% 10% 10% 6% 10% 10% 21% -4% -9% -4% -4% -7% -11% -10% -16% -11%-2% -2% -3% -2% -2% -1% -8% -2% SG MY TH VN CH TW HK JP KR “I am confident that in my lifetime, I will be financially better off than my parents” Agree strongly Tend to agree Tend to disagree Disagree strongly 41% 47% 50% 36% 40% 39% 15% 34% 29% 13% 27% 23% 12% 4% 18% 6% 29% 14% -7% -4% -6% -20% -16% -12% -28% -1% -10%-1% -5% -2% -1% -9% -3% -4% “I will need to make plans for pensions in my next / first job” Agree strongly Tend to agree Tend to disagree Disagree strongly Key take outs: Mostly, Gen Z are confident that they will be better off than their parents, particularly in the emerging market of Thailand, but also in the more developed markets of Singapore and Korea. Gen Z is less optimistic in Taiwan and Japan. Gen Z recognise the importance of pension provisions (although this can be obligatory in some markets), but some Gen Z in Hong Kong are likely to defer such decisions
  23. 23. 23 Gen Z values and attitudes towards employment (4) 29% 41% 40% 45% 16% 21% 22% 7% 34% 22% 26% 28% 24% 11% 13% 17% 5% 22% -10% -3% -8% -7% -24% -14% -14% -29% -11%-1% -4% -1% -1% -4% -8% -3% -33% -6% SG MY TH VN CH TW HK JP KR “I would like to seek employment opportunities in other countries” Agree strongly Tend to agree Tend to disagree Disagree strongly 24% 18% 20% 30% 36% 36% 18% 28% 11% 5% 12% 6% 9% 17% 17% 9% 6% 7% -23% -23% -31% -22% -11% -9% -22% -20% -20% -10% -12% -5% -7% -2% -5% -9% -13% -9% “I am NOT interested in traditional 9am-5pm employment” Agree strongly Tend to agree Tend to disagree Disagree strongly Key take outs: appetite for overseas employment varies a lot between markets with Gen Z in SE Asia most keen and those in other parts (especially Japan) less so. Korea though is closer to SE Asia in terms of desire for working overseas Gen Z is split over whether they want traditional employment (i.e. traditional 9-5) – but those rejecting traditional 9-5 are more likely to be found in China and Taiwan
  24. 24. 24 Gen Z values and attitudes towards employment (5) SG MY TH VN CH TW HK JP KR 46% 41% 69% 51% 51% 40% 46% 44% 56% 30% 28% 22% 32% 19% 23% 11% 13% 18% -3% -4% -3% -5% -4% -7% -9% -5%-2% -1% -1% -1% -3% -7% “I am totally confident about keeping up with changing technology” Agree strongly Tend to agree Tend to disagree Disagree strongly Key take outs: Most of Gen Z are confident about keeping up with changing technology, but there is some uncertainty, with about one-in-five unsure
  25. 25. 25 Importance of Job Attributes Key take out: Most Gen Z surveyed recognise the importance of quickly up-skilling. Interestingly, the overall leadership of the organisation ranks as high (if not higher) than that of the immediate line manager. Japan stands out as placing more importance on the line manager, far greater than any other attribute Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) Importance of employer attributes (% stating “very important”) Ability to up-skill quickly 43% 64% 56% 49% 48% 57% 32% 14% 35% Overall leadership of org. 43% 41% 51% 59% 40% 61% 30% 9% 36% Immediate line manager 37% 39% 47% 39% 39% 45% 36% 53% 31% Company culture 42% 44% 39% 42% 36% 42% 26% 38% 46% Office environment 42% 47% 43% 42% 32% 50% 29% 31% 35% Vocational training opp. 30% 39% 40% 44% 45% 49% 34% 26% 28% Job variety 48% 52% 44% 48% 31% 34% 18% 11% 38% Corporate Social Responsibility 28% 39% 51% 34% 40% 45% 19% 18% 28% Work-life balance 51% 45% 41% 30% 26% 26% 28% 20% 30% Off-site or travel opp. 28% 33% 32% 30% 29% 26% 25% 8% 17% Big / reputable name 14% 25% 40% 33% 17% 11% 18% 11% 29% SG MY TH VN CH TW HK JP KR
  26. 26. Preferences
  27. 27. 27 Preference for first type of employer Key take out: Gen Z is looking for ‘large name’ employers for their first job, with most not selecting SMEs – those in China and Taiwan are least decided. Gen Z in SE Asia and Korea lean more towards public sector, but a notable outlier is Vietnam, with those surveyed very attracted to working for a large foreign firm Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) SG MY TH VN CH TW HK JP KR 21% 31% 35% 30% 17% 20% 14% 12% 9% Government / public sector SG MY TH VN CH TW HK JP KR 20% 25% 13% 16% 31% 25% 17% 13% 14% Large company from their own county Large foreign company SG MY TH VN CH TW HK JP KR 9% 33% 19% 2% 13% 60% 22% 11% 22% SG MY TH VN CH TW HK JP KR 10% 9% 14% 21% 5% 8% 11% 16% 14% SME / start up company No preference: SG 23% MY 10% TH 20% VN 1% CH 43% TW 50% HK 38% JP 30% KR 25%
  28. 28. 28 Type of industry / professions that Gen Z would consider Key take out: Business services (e.g. marketing services, consulting, HR, IT, and media) are the most popular employment choices for Gen Z, followed by the public sector. In third place are a range of industries under professions, hospitality, and leisure. The service sector is far more popular among Gen Z than trade or manufacturing industries, perhaps being viewed as ‘more traditional’ Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) NETT Industry (definitions refer to Appendices) Business services 56% 54% 62% 57% 62% 65% 71% 38% 42% Government/NGO/education 53% 46% 33% 34% 38% 33% 54% 28% 43% Professions 41% 26% 37% 38% 48% 22% 45% 21% 30% Hospitality 39% 26% 33% 31% 35% 59% 45% 17% 20% Arts / entertainment / sports 34% 35% 34% 22% 41% 49% 30% 24% 39% Scientific / medical 32% 39% 27% 28% 23% 19% 28% 19% 22% Manufacturing, construction, engineering 21% 23% 37% 33% 29% 16% 20% 14% 22% *Retail or wholesale trade 16% 9% 15% 23% 8% 9% 20% 4% 6% *Armed forces 12% 6% 7% 10% 13% 5% 1% 5% 11% All others 12% 23% 31% 22% 19% 12% 19% 21% 10% SG MY TH VN CH TW HK JP KR Leading mentions of 33% and above *Note- Not Netted
  29. 29. 29 Type of industry / professions most preferred (first choice) Key take out: For first choice, business services are quite far ahead of the others, but the professions overtake the public sector, and science / medical comes up higher in the rankings. While the ‘taste’ for the armed forces is very niche, most notably very few put retail or wholesale trade as their first choice for employment Base: SG (n= 105); MY (n=111); TH (n=104); VN (n=105); CH (n=101); TW (n=104); HK (n=102); JP (n=107); KR (n=109) NETT Industry (definitions refer to Appendices) Business services 21% 19% 23% 23% 29% 28% 17% 19% 17% Professions 16% 14% 13% 20% 15% 9% 16% 9% 12% Government/NGO/Education 9% 11% 13% 7% 8% 4% 17% 12% 17% Scientific / Medical 15% 15% 8% 8% 5% 9% 10% 7% 13% Arts / Entertainment / Sports 4% 6% 13% 8% 10% 14% 11% 10% 15% Hospitality 8% 9% 9% 8% 8% 21% 9% 7% 5% Manufacturing, construction, engineering 10% 11% 12% 13% 9% 3% 3% 6% 7% *Armed Forces 2% 2% 2% 5% 2% 2% -% 3% 2% *Retail or wholesale trade -% -% 3% 5% 1% -% 3% 1% 1% All others 4% 6% 4% 4% 2% 3% 2% 7% 3% SG MY TH VN CH TW HK JP KR *Note- Not Netted
  30. 30. 30 Sentiments on Gen Z running their own business Key take out: Reflecting the rejection of non-conventional employment contract, those in Japan have the least interest in running their own business. Generally the emerging markets show most interest in entrepreneurialism, especially in Thailand, Vietnam, and China. Korea, and to an extent Malaysia, also shows interest SG MY TH VN CH TW HK JP KR 18% 32% 49% 42% 35% 13% 22% 16% 34% 48% 37% 41% 53% 47% 51% 47% 23% 39% 19% 22% 7% 5% 17% 31% 25% 23% 14% 15% 9% 3% 2% 6% 7% 37% 13% Singapore Malaysia Thailand Vietnam China Taiwan Hong Kong Japan Korea Not likely / no interest Uncertain Possibly, w/ right opportunity Definitely appeals to me Base: (n= 105) (n=111) (n=104) (n=105) (n=101) (n=104) (n=102) (n=107) (n=109)
  31. 31. 31 When Gen Z expect to take on running their own business (SE Asia) (Based on those not rejecting the idea) Key take out: Mostly, Gen Z expect to take the plunge (in running their own business) in their 20’s and 30’s, with a significant minority in Thailand and Vietnam wanting to do so straight after education. Notably, about half would like to do so before they reach their 30s Straight after school / college / university In my 20’s, but after some work experience In my 30’s SG (n=69) MY (n=77) TH (n=94) VN (n=100) In my 40’s or older 6% 49% 30% 9% 8% 47% 27% 13% 16% 39% 32% 10% 20% 30% 43% 6%
  32. 32. Conclusions
  33. 33. 33 Conclusions (1) Education Most Gen Z intend to go onto higher education, although notable exceptions are Vietnam and Korea, where the majority of Gen Z expect to go straight into the workforce. There are mixed views on how valuable education is in terms of preparing Gen Z for the workplace. Gen Z in Greater China, and in particular Japan, are more skeptical. Few expect to secure employment before leaving education (except in Japan), and many expect to take some time (typically 6-12 months) to secure the right employment, meaning many will need to look for stop-gaps employment Employment Gen Z expect to work for surprisingly few employers in their career, typically only 3- 4. In seeking employment, they will go to multiple sources for information on careers and companies, with social media being a more popular source in SE Asia
  34. 34. 34 Conclusions (2) Attitudes Most Gen Z are willing to invest in their future, e.g. willing to trade off a better salary in order for better training and experience, although they are somewhat more skeptical about trading off salary simply to ‘get a big name on their resume’. While showing somewhat more progressiveness in considering running their own businesses (some at an early age), Gen Z are still quite conservative with most preferring permanent employment contracts and also rating job security as one of the most important aspects of employment (for them). They might however show more mobility (especially in SE Asia) by working overseas and about half reject the idea of ‘conventional’ 9-5 jobs. Changes Half of Gen Z expect changes in the workplace in the next 5 to 10 years, driven mainly by technology and innovation. A similar number (46%) expect to do things ‘differently’ from their parents, but this is mainly due to the development of the markets themselves – hence those (particularly in SE Asia) expect better jobs and income, or might choose to work in different sectors than their parents did.
  35. 35. 35 Vietnam Gen Z - Summary Vietnam Gen Z: This is one of the most unique markets in the survey, and represents ‘the most emerging’ of the emerging markets, and hence seeing the biggest change. Very few expect to go onto higher education, with most (86%) expecting to start work after secondary education. Despite this, they are some of the most confident that their education will prepare them for the workplace, and similar to Thailand this is partly about giving them a certain level of self- confidence, and with their studies having exposed them to ‘many different things’ They expect to find their preferred employer quite quickly after leaving education (within 5 months on average), with 25% expecting to secure employment before leaving education. In a rapidly changing market, many had no idea how many different employers they would work for in their career, and compared to all other markets they will seek information on careers and companies through as many sources as they can including traditional media, social media, company websites, career community websites, and internet forums. And if this isn’t enough, they are also the most likely than other markets to refer to recruitment consultants! They show the most willingness of any market to invest in their future with far more than average are willing to take a lower salary for better training and experience and getting a big name on their resume. Hence there is much higher preference than in other countries to work for an international corporation in Vietnam. They are most likely to see big changes in the workplace in the next 5 to 10 years through innovation and technology, and ‘to do things differently’ from their parents through better opportunities leading to higher income and independence. They are also as likely as others in SE Asia to seek employment opportunities in other countries Like Thailand, more Gen Z than average are willing to consider working in manufacturing, construction, or engineering, but business services tops the list and more Gen Z than any other market would most prefer to work in the professions (e.g. law, accounting, medicine). Although very few (8%) would want to work for an SME as their first job, a high proportion (42%) find running their own business ‘definitely appealing’, with 20% thinking they can do it straight after education (the highest in the region)
  36. 36. 36 Gender differences among Gen Z in Vietnam Vietnam Gen Z: The following are the areas where differences between male and female among Gen Z have been identified:  More males preferring most IT related jobs than females (23% vs 6%)  Females referring more to news on employment for career guidance than the males (38% vs 54%)  Office environment very important among males than females (51% vs 33%)  Females more optimistic that they have secured employment before leaving their education (17% vs 33%)  Males NOT interested in traditional 9am-5pm employment (51% vs 27%)  Males more likely to retire later (in 60s) than the females (49% vs 21%)  More females think that they will have better job quality / opportunity than their parents (11% vs 27%) while more males think that there will be changes in the work environment in the next 5-10 years (25% vs 12%)
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