Posted February 18, 2020 by Mark Perna
A new survey reveals that Gen-Z and Millennials are much bolder than their older colleagues when negotiating salary. Mark’s article, “Younger Workers Say Show Us The Money—And They Mean Business,” published at Forbes.com on February 11, 2020.
Workers of every generation prioritize salary above all else, reports a recent ManpowerGroup study. But a survey released last month by Randstad reveals that Generation-Z and Millennials are much bolder in their approach to salary negotiations than their older colleagues.
The Randstad 2020 U.S. Compensation Insights survey sheds new light on how younger workers, along with their elder counterparts, approach pay negotiations and issues with current and prospective employers. Four highlights:
According to Randstad, a majority of all women, regardless of generation, report they’re considering leaving their job because they believe they’re underpaid. (Only 41% percent of men say the same.) Additionally, 72% of women, versus 59% of men, say they’d make a lateral move to another company just to receive a jump in salary—one they wouldn’t get if they stayed at their current company.
Gen-Z and Millennials were reared to believe they are special. That’s because their Boomer parents, in tune with the self-esteem movement of the 1980s and 90s, were careful to instill that value in them from a very early age. So it should come as no surprise, then, that today’s younger generations carry this perspective into their working lives, where, among other things, they fully expect to be compensated accordingly. And if they’re not? Well, as the Randstad survey shows, they will boldly take matters into their own hands—and say show us the money.