Gen Z has retirement on the mind, young workers want more than paychecks and promotions — and other Gen Z news

Welcome back to Keeping the Balance, a resource for young professionals navigating the changing world of work. Click subscribe above to be notified of future editions.

This week’s edition is a roundup of the latest Gen Z insights from my LinkedIn News colleagues. If you see a story that interests you, be sure to join the conversation.

Gen Z wants more than a promotion by Ben Cousins

Gen Z is looking for more than a paycheck and a promotion. In an article for Fast Company, Sanofi CEO Paul Hudson says Gen Z employees aren’t looking to move up the corporate ladder like previous generations. Instead, they want to gain different experiences before shifting to something new. Gen Z employees want companies that align with their own values and help the community, he adds. Hudson implores business leaders to communicate with younger staffers and challenge them so that they're constantly learning.

• “This article hit the nail on the head - I have always told myself the following: I aspire to leave the business better than how I found it, and rather than ‘climbing the ladder,’ seeking for a diversity of experience (feeling like a toddler in a new role) is my passion. Exciting to see the changes the rise of this generation is bringing to the workforce,” says Sarai Almanza , who is a HR lead generalist.

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Gen Z is already saving for retirement by Ruiqi Chen

Gen Z just entered the workforce, and they're already making saving for retirement a priority. In fact, young people are saving more than older generations. People ages 18 to 25 are putting aside an average of 14% of their income for retirement, according to BlackRock , compared to 12% saved by millennials, Gen Xers and baby boomers. Younger people tend to be more money-conscious after growing up hearing that they couldn’t rely on Social Security in their later years while watching parents struggle through recessions, CNBC reports.

• “Personal finance and investing are a hot topic now because of the pandemic and inflation, and I think we realize how important it is to be able to manage and grow your financial wealth,” says Sam L. , who works in fintech.

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How employers are wooing Gen Z by Cate Chapman

Faced with an historic labor shortage, companies across the U.S. are racing to build work environments that will attract Gen Z workers — and keep them in the job. Some, like Legoland New York Resort, are encouraging workers to bring their whole selves to work, and flaunt their tattoos and brightly dyed hair. Sage Hospitality, which runs hotels and restaurants, is piloting a four-day workweek for positions including cooks and housekeepers. And healthcare firm GoodRx is letting employees work from anywhere in the U.S., hiring an outside company to provide offices on request.

• “As the children of Baby Boomers, Gen X, and older Millennials, their way of thinking is already influencing your employees, despite the fact they are just entering the job market. Wooing them isn’t just about offering four-day work weeks and remote positions, it comes down to transparency, accountability and approaching your mission with authenticity,” says Dave Dinesen , who is a CEO.

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Lack of ambition? Join the club by Saundra Latham

Welcome to the age of “anti-ambition.” The pandemic has touched off a reckoning when it comes to our relationship with work, The Guardian notes . For many, that has meant swapping an unrelenting climb up the corporate ladder with a desire to slow down, draw firmer boundaries, switch careers or retire early. Gen Z is poised to continue the trend: Surveys show younger workers place a higher priority on work-life balance, including the ability to work from home at least some of the week.

• “I'm not sure we're seeing the death of ambition - if anything, most of us have been working HARDER since the pandemic just to keep everything afloat. A lot of people have been re-energized to go back to school or change careers. I think what's changed for a lot of us is that we want something to show for our ambition, whether that's more money or more freedom to enjoy the fruits of our labor,” says Lisa Holt , who is an executive assistant.

??Join the conversion here .?

Gen Z rejecting older social media by Cate Chapman

It may be surprising to hear that of all Americans on social media, the ones losing interest are the youngest. Gen Z, or those between ages 4 and 24, are using less of every app — except TikTok — and are the only group to see recent declines. They're avoiding older, noisier, more public networks in favor of connecting through a variety of smaller applications, including Twitch, Discord and BeReal, per Axios. Gen Z is also drawn to algorithms (like TikTok’s) that don’t just bear down on their interests but occasionally throw in something new.

• “Gen Z is living a more authentic experience with digital media.They're not consumed by a rat-race for the most likes. Their digital habits, refreshingly, don't revolve around this. It feels like being a kid in the 90s: your Saturday entails watching your favorite TV show, then meeting up with your close friend group. That's life. Gen Z is living the digital equivalent of this,” says Dylan Harari , who is creator economy specialist.?

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9-to-5 with me

Each week, I will feature a day-in-the-life video from a fellow Gen Zer. This week, my LinkedIn colleague Natasha Badger takes us through her workday and shares advice on how to break into the tech industry. Check out her video below or by clicking here .

What does a day in your life look like? Share your video using #9to5withme .

The more you know

Student loan payments are set to resume next month after a more than two-year pause. How should you prepare? Check out the video below or click here to learn more.

What topics would you like me to cover next in Keeping the Balance? Share your ideas in the comments below or send me a message.