menu
close

Gen Z and Millennials: Reshaping the Future of Workforce

DOWNLOAD PDF

This report is an attempt to gauge the perspectives of both Millennials and Gen Z - with respect to benifits they are seeking, preferred work models and what drives them to build long careers in technology organizations.

Key Findings

While the World Gets Older, India is Getting Younger, also reflected in the tech industry with Gen Z and Millennials accounting for majority of the workforce
  • 52% of Gen Z and Millennials in overall Population in India in 2021, higher than the global average of 47%
  • 20% of Global Gen Z population is in India
  • 86-90% share of Gen Z and Millennials in total Indian tech workforce
  • 70% of Gen Z college students aspire to join tech companies (basis NASSCOM’s Gen Z student Survey)
Drivers: Company Culture & Brand, Learning & Growth
  • What Gen Z Want
    • Culture, Learning and Growth in addition to company’s brand - which tops the chart for both Millennials and Gen
    • More willing to be in office - only 15% highlighted the need to go completely remote compared to 26% Millennials
  • How Millennials Differ:
    • Financial benefits is the major the additional ask
    • Share of Millennials looking for complete work from office is nearly half that of Gen Z
Key Drivers for Continuing in an Organization
  • Gen Z - Job Satisfaction and Good Working Environment apart from Financial Benefits and Career Growth which is a common ask with Millennials; Financial Benefits - As salary (in-hand), not very appreciative of Bonus/ variable benefits; ▪ Non-Financial Benefits - Learning and Development is a key ask
  • Millennials - Job Security and Better Non-Financial Benefits were the other key retention benefits; Give 2X more importance to financial benefits, compared to Gen Z; Greater Flexibility and Job Security were the key non-financial benefits highlighted
What Companies are Doing:
  • Initiatives focused on Learning and Growth, Redesigning Benefits, working towards providing a good working environment, Hybrid work and flexibility, Gig working models 
  • CHRO Suggestions for the new-age workforce - Willing to unlearn and learn - Bring trust, ethics and empathy, open communication, collaboration and cocreation share learnings be a team player, focus on long-term career goals

Get The Report

Download the report and get detailed insights on the sector.

Regular Price : Free Download
Member Price : Free Member Login

Nasscom Members- Login to download the report

Related Reports

Future of Work - Implications for India Tech Industry - June 2022

Future of Work - Implications for India Tech Industry - June 2022

The report highlights the challenges that the new future of work paradigm is likely to engender and identifies the four key dimensions that require immediate attention from leadership…

Free for All
Technology Reshaping The Future of Work – India Perspective

Technology Reshaping The Future of Work – India Perspective

NASSCOM conducted a series of interactions and roundtables, with over 125 stakeholders, coupled with deep-dive secondary research to assess the role of technology in accelerating…

Free for All
close
The email address is not made public. It will only be used if you need to be contacted about your account or for opted-in notifications.
CAPTCHA
2 + 0 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Password reset instructions will be sent to your registered email address.

CAPTCHA
1 + 7 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.