The contemporary Gen Z professional seeks the flexibility to log off at 5 PM while simultaneously aspiring for a C-suite title, particularly within the esteemed consulting firm KPMG.
Findings from KPMG's Winter Intern Pulse Survey indicate that, on average, Gen Z is prepared to forgo approximately $5,000 in their salary in pursuit of enhanced work-life balance. Concurrently, an impressive 92% of respondents expressed a desire to achieve a senior executive position.
The survey, which gathered insights from 361 KPMG U.S. winter interns across various sectors, also revealed that nearly a quarter (24%) of participants wish to dismantle the "always available" mindset traditionally associated with workplace culture. Additionally, one-fifth of respondents would prefer to eliminate the standard 9-to-5 work schedule entirely.
“Gen Z is redefining what success looks like,” remarked Derek Thomas, national partner-in-charge of university talent acquisition at KPMG. “They aim to reach the pinnacle of their professions, but they also seek a fulfilling life outside of work as they climb the corporate ladder.”
Gen Z, defined as those born between 1997 and 2012, has navigated a unique set of challenges during their formative years. The COVID-19 pandemic significantly disrupted conventional workplace norms as many transitioned from high school, college, or entry into the job market at a time characterized by remote work and evolving expectations. This context has contributed to the Great Resignation, where many opted to leave the workforce to prioritize the personal time they experienced during lockdowns. Now, while they continue to strive for corner office positions, many are grappling with the difficulty of maintaining boundaries between work and personal life.
“It’s the want versus the reality of what it takes to actually accomplish it,” Thomas explained to Fortune. He attributed this disparity to a lack of experience among many Gen Zers, who may not fully comprehend the lengthy journey towards career advancement. “You go from seeing your career as a sprint coming out of school to realizing it truly is a marathon,” he noted.
AI Is Threatening the Rungs on the Ladder
A significant 80% of respondents report feeling at least somewhat concerned about the implications of technology on their career prospects, with 10% expressing extreme concern. This reluctance stems in part from the recognition that AI poses a threat to entry-level positions, which young workers typically seek to establish their careers.
According to research from the Federal Reserve Bank of New York, the unemployment rate for recent college graduates currently surpasses that of the overall workforce. A recent study by Stanford University revealed a 13% decline in employment for workers aged 22 to 25 in sectors heavily impacted by AI, such as software development and customer service, since 2022.
Notwithstanding these challenges, nearly four out of five respondents conveyed feeling at least somewhat prepared to collaborate with AI technologies or autonomous systems capable of handling personalized tasks.
“There’s a certain trepidation around AI and the impact it’s having in the workplace,” Thomas acknowledged. “However, Gen Z is actively embracing AI. They understand the implications but also recognize that this shift is here to stay.”
The ‘monkey bars’ to success
Thomas emphasizes that AI is actually empowering interns to navigate obstacles traditionally faced by entry-level employees, enabling them to concentrate on essential human skills such as communication and problem-solving. “It’s allowing them to advance through the learning curve more swiftly than in the past,” he remarked.
In practical terms, KPMG is introducing a pilot program at its $450 million training and innovation center, Lakehouse, aimed at audit interns to address the transition towards an AI-centric workplace. The program specifically addresses the skill gap arising from the reduction of entry-level tasks by utilizing simulations and competitions to equip interns with the experience necessary to thrive in their careers. Participants will engage in sessions designed to optimize the use of AI tools for delivering exceptional outcomes for the firm’s clients.
As the job market evolves, Thomas asserts that Gen Z must adapt to succeed in their professional journeys. He advocates for a paradigm shift in perspective: moving away from the traditional corporate ladder toward a more dynamic model he describes as corporate “monkey bars.”
“Your career isn’t merely a ladder. It resembles monkey bars,” he explained, illustrating the concept of lateral movements through his gestures. “You must be willing to adapt and pivot along the way as you progress.”
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