One of the UK’s leading employers, Admiral, today reveals a significant generational shift in attitudes to work as 75% of 18-27-year-olds seek more secure, longer-term tenures than has been the norm in recent years.
New research 1 shows nearly nine out of 10 (88%) of Generation Z say that when job-hunting, they prioritise finding the stability of a single employer that can provide financial security and a sense of community and belonging.
The average Gen Z employee wants to stay in their job for seven years – twice the 3.5 year average tenure reported in analysis of official statistics 2.
Millennials are less likely than Gen Z to stay at a company over a longer period to grow and progress their career, with 30% saying they switch companies frequently to negotiate pay rises instead.
The research from Admiral, which has 13,000 colleagues in its UK businesses and has been named one of the Best Places to Work for over 20 years, shows the world has moved on from the ‘jobs for life’ associated with the previous century to young people seeking ‘an employer for life’.
Six in 10 (57%) of 18-27-year-olds believe that staying with one employer and developing their career is more profitable than moving jobs frequently.
The 18-27-year-old age group are most likely to want an ‘employer for life’ that supports their life outside of work and offers the opportunity to move around within a company and grow.
Seven in 10 (70%) are looking to stay for a longer time and develop a career within a company, rather than focusing on seeking more money by switching employers frequently.
Matt Wintle, Head of Talent and Acquisition at Admiral said: “An employer for life, a place where you can move around within a business or between our businesses, develop and take on many roles within your career, which is something we’ve created at Admiral through our culture from day one.
“What we see when recruiting for Admiral is that people don’t want to learn and leave, they want to invest in themselves and their workplace, gain equity in the company through owning a part of it, and are prioritising personal development and work-life balance.
“At Admiral, there are so many routes you can take, and we have an authentic culture of development, which this research shows the younger generation are starting to prioritise . We have countless examples of colleagues who started in junior positions and progressed around the business.
“Not everybody changes departments – for some people that wouldn’t be right – but if it is right for you, that flexibility is there. And that’s why there are so many colleagues working at Admiral today who have been employed longterm.”
Kate McHugh, 37, Admiral Project Manager (Facilities) said:
“I joined Admiral in 2010, when I was 23, and I would have never had the life I’ve had if I had chosen to leave and job-hop instead.
“At first it was simply a stop gap, but I quickly realised that Admiral could offer everything I wanted from my career and life plans.
“Since joining, I’ve been able to really develop my career, become a manager and even change direction, leading an entirely different career path in project management. I don’t think I would have had those opportunities if I had chosen to work in a series of short term jobs instead.
“It’s so great to see young people seeing the value in the same opportunity”.
The research also reveals:
- Nearly a fifth of Gen Z employees (17%) say the swing in attitude back towards longer term employers is being fuelled by seeking stability among economic and political uncertainty, while 50% say it is due to the cultural shift towards better work-life balance.
- Gen Z employees are most likely to seek a stable base from which to pursue passions and interests outside of their job (28%)
- And they are nearly as likely to report spending their spare time ‘being creative’ (44%) as ‘being sociable’ (45%). Four in 10 Gen Z (40%) plan to stay in their role for 8+ years. Gen Z are more likely to choose an employer for financial stability (55%) over ‘having a purpose’ (45%) and are split 50:50 on whether they’d prefer to ‘make more money’ or ‘make a difference’ – while every other generation choose money
- Millennials are more likely to choose work-life balance over career advancement (52% vs 46%) and more likely to seek an employer offering mental health support over professional development opportunities, when compared to their younger colleagues (56% vs 52% among Gen Z)
- The average Baby Boomer has worked for the same amount of companies as the average Millennial (4)
- 40% of Baby Boomers say no event during their lifetime has ever caused them to need to seek out more stable careers or employment – four times as many as Gen Z
- When asked what makes a good company, Baby Boomers valued loyalty and acting with integrity more than any other generation
Admiral is widely regarded as one of the best UK employers and has been recognised as a Great Place to Work for 23 consecutive years by the Great Place to Work Institute, the global authority on workplace culture.
27% of the Admiral UK team have worked with the company for 10 years or more, and the average tenure is seven years. The company wants to help everyone, regardless of age, to reach similar goals while understanding their modern-day needs.
On top of this, colleagues feel invested in the business through its free share scheme that allows them to own part of the business they work in through the allocation of up to £3,600 worth of free shares each year. Through its people promise, Where You Can, Admiral creates a place to Be You, Grow & Progress, Make A Difference, and Share In Our Future.
Shoshanna Davis, founder of Fairy Job Mother, a Gen Z careers expert, said: “Employees want to be valued and have access to opportunities within the same company. For previous generations, working for one employer meant one role for life. What we’re seeing now is people wanting to stay with the business but to have the chance to upskill, move within the business, and experience different roles.
“If young people are given the right support, clear paths for progression and rewarded fairly, they’re far more likely to stay with an employer for the long term. Job-hopping often stems from a lack of these opportunities and a feeling of stagnation. In today’s economic climate, the stability of a supportive workplace can make a huge difference, offering not just financial security but also a sense of purpose and belonging.”
The post INTRODUCING ‘EMPLOYER-FOR-LIFE’ TREND – AS MORE YOUNGER WORKERS ARE CHOOSING STABILITY OVER JOB-HOPPING first appeared on HR News.
