JobBuzz Survey: The 1st job divide between Gen Y and Gen Z

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The JobBuzz.in survey points out that Gen Z professionals have started out better in the jobs market compared to Gen Y’ers. However, Gen Z employees are quicker to quit and move on.

May 10, 2016: According to a new survey by JobBuzz.in, India’s leading employee engagement & employer rating platform, Gen Z professionals have a better experience in their first jobs compared to Gen Y professionals.

JobBuzz’s survey of 912 Gen Z and Y employees reveals that 49% of Gen Z workforce got their first job in less than 2 months as compared to 38% Gen Y candidates. Majority (45%) of Gen Y’ers took an average 3-6 months to land their first job, reveals the JobBuzz.in survey. This indicates that the job market has improved significantly for freshers.

However, nearly 16% Gen Z candidates took about a year to start their first job while 14% Gen Y took this long – showing a preference for carefully evaluating job suitability prior to joining. In fact, nearly 2% Gen Z respondents claimed they are still unemployed and on the lookout for suitable opportunities in the jobs market.

“Gen Z jobseekers are far more informed and careful while choosing their first jobs – they have a host of tools and platforms available to them to evaluate job and organization suitability. They are also quick to jump to another opportunity if they are not fully engaged – not just for more money but more so for challenging, exciting work and greater responsibilities,” says Nilanjan Roy, Head of Strategy, Times Business Solutions.

On the most significant aspects of choosing their first job, Gen Y (37%) and Gen Z (44%) both laid major emphasis on salary.

Interestingly, despite the clear emphasis on pay by both workforce generations, nearly 40% Gen Y and 58% Gen Z respondents did not negotiate their salaries during their first jobs. Furthermore, 55% Gen Y and 53% Gen Z candidates weren’t even satisfied with their first drawn salaries, according to the JobBuzz.in survey.

Most (36%) Gen Y candidate’s first drawn salary was in the range of Rs 2-3 lakh per annum while 42% Gen Z earned Rs 3-5 lakh per annum in their first job. In addition, none of the Gen Y candidates got a package of more than Rs 10 lakh per annum but about 10% Gen Z did managed to land a job with heftier packages.

Gen Y’ers laid greater emphasis on the job role, they were more satisfied with the role offered, claimed 61% Gen Y respondents and about 10% Gen Y professionals are still continuing with their first employer.

On the other hand, 57% Gen Z respondents stated they were satisfied with their first job roles but just 3% Gen Zers said they were still with their first employers.

Nearly 45% Gen Y and 58% Gen Z candidates left their first job within 2-3 years. When asked why they left, over 50% of both Gen Y and gen Z said the reason was better package. This is followed by better growth opportunity (Gen Y – 42%, Gen Z – 46%).

On asking the reason to continue in the same job, 57% of Gen Z professionals said it was the case of getting challenging, enticing work and more responsibilities. Nearly 50% Gen Y’ers said they were getting good appraisals and increments that made them stay put with their first employer.

“In today’s highly competitive environment, the only sustainable competitive advantage for an organization is its people. The insights that this JobBuzz Study reveal clearly indicate that employers need to engage, motivate, drive and inspire this newest generation workforce to retain top talent and their cutting edge in the long run,” explains Nilanjan Roy.

About TimesJobs.com:

TimesJobs.com, India’s leading career and recruitment portal, is one of the best-selling online ventures of the Times of India Group. Conceived and launched in 2004, TimesJobs.com currently has a candidate database of more than 25 million registered job-seekers across levels and functions who clock-in over 60 million page views a month.

TimesJobs.com is positioning itself as an engagement platform and knowledge resource for insights, information, analysis and opinions on the recruitment market. Well-known for its product innovations and unmatched deliverables, TimesJobs.com has pioneered the platforms of:
JobBuzz.in  for candidate engagement with company reviews and ratings
TechGig.com as India’s leading IT network for careers, coding and competitions
StepAhead for career assessment and enhancement services
RecruiteX as the definitive demand and supply recruitment index
The TJinsite knowledge series and a lot more.

TimesJobs.com serves a corporate customer base of more than 25,000 clients from across the globe. It has been serving clients like HCL, IBM, Yamaha, Godrej, HSBC, Mahindra, Bajaj Allianz, TCS and Thomson Reuters to name a few.

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