KUALA LUMPUR, April 21 — A recent survey by a job recruitment organisation has revealed that the multi-generational workforce has a unique blend of similarities and differences when it comes to looking jobs.
The study conducted by JobStreet Malaysia on over 10,000 local candidates in 25 industries amid the ongoing Covid-19 pandemic, revealed the two major factors of driving changes in the multigenerational workforce are demographic and technological transformation.
The study’s participants included those in “Generation Z” or aged 18 to 23, “Generation Y” aged 24 to 34, “Generation X” aged 35 to 54, and “Baby Boomers” aged 55 to 65. Demographically, each generation has different ways of communicating, different ways of working, and each with different expectations for employers.
For example, the factors of salary and compensation along with work-life balance apply to all Malaysian talents but not for GenZ, who prefer personal growth and career development since they have only begun to enter the workforce.
For Gen Y, career development within an organisation is their main focus when it comes to choosing a job, which includes overseas training and promotion opportunities.
Baby Boomers, Gen X and Gen Y all consider job security as driving factors as well, due to commitments or family obligations. The study revealed that most in the Malaysian workforce consist of Gen X and Gen Y at 45 per cent and 40 per cent respectively.
Key drivers also differ according to industries, with salary and compensation as high priorities for the banking/finance and consulting (IT) industries, while work-life balance is important for the Advertising and IT industries.
Career development in turn is more important for those in the auto, electronic, and manufacturing sectors, as well as those in the oil and gas industries.
JobStreet Malaysia country manager Gan Bock Herm said the pandemic also means organisations are faced with issues of retaining talents due to cash flow and income issues.
“The Covid-19 pandemic has also fast-tracked digital transformation in organisations, rapidly reshaping the way organisations and employees communicate and work as well as the deployment of technologies such as Big Data, Internet of Things, Artificial Intelligence, Machine Learning and Robotics to cope with the pandemic’s onset.
“These changes also impact the skills required in the workforce, as well as how recruitment processes are done. Almost overnight, organisations not only had to speed up their digital transformation but more importantly, maintain a humanised recruitment process,” he said.
In terms of technological transformation, the study revealed that 34 per cent of Gen Z find it acceptable to have interviews through video calls, compared to 32 per cent of Gen Y, 30 per cent of Gen X, and 19 per cent of Baby Boomers.
“The second most common factor across all generations and an important sub-driver for work-life balance is the ability to work from home or remotely, which has proven particularly important and relevant to the current situation with the ongoing movement control order to contain Covid-19.
“It is shaping to be a requirement, rather than an option, at a time when organisations in non-essential industries operate remotely to ensure business continuity. 72 per cent of Gen X prefer to work from home, closely followed by Gen Y at 71 per cent, Gen Z at 64 per cent, and Baby Boomers at 66 per cent,” Gan said.
