
Generation Z puts great importance on fair working conditions, with financial success and security also ranking highly. These findings come from a survey by BAWAG and SkillsAustria.
Generation Z refers to those born between 1994 and 2010.
The poll, which surveyed 500 people in Austria aged 16 to 25, found that 74% considered good working conditions to be either “very important” or “important.” A similar number highlighted financial success and job security, although fewer described these as “very important.” Meanwhile, 65% said work-life balance was a priority. Other factors, such as making a societal contribution (53%) and sustainability (46%), were mentioned less often.
Interest in Self-Employment Declines with Age
Most respondents said they could imagine becoming self-employed, although enthusiasm for starting a business appeared to fade with age. While 64% of those aged 16 to 18 were open to the idea, this figure dropped to 55% among 22- to 25-year-olds. Men showed slightly more interest in self-employment than women.
The findings highlight concerns about the impact of an ageing workforce and demographic changes.
Josef Herk, President of SkillsAustria, an organisation that promotes vocational education and training, as well as the Styrian Chamber of Commerce, described the situation as urgent. He said, “The most valuable resource of the republic is diminishing. Around 40 years ago, we had twice as many young people as we do today.”
Herk stressed the importance of addressing future gaps in the workforce. He called for “qualified immigration” and better use of “existing potential,” pointing out the growing number of women taking up careers in technical fields. However, he noted Austria’s high rate of part-time work and suggested incentives for full-time jobs could help tackle this issue.
BAWAG Plans to Adjust to Young Workers’ Needs
BAWAG – one of Austria’s largest banks – plans to use the survey results to better meet the expectations of young employees. CFO Enver Sirucic said that the bank had already made changes, such as easing rules for home working, to adapt to modern needs.
“We want to know what young people expect from us as an employer,” said Sirucic. “The insights from this study will shape our approach to workplace policies.”
AI and Finances Shape Career Decisions
When asked about choosing a career, 33% of respondents said they didn’t feel completely free in their decision. This was more common among those from lower-income families. Additionally, 36% said they had reconsidered their career plans due to concerns that artificial intelligence could replace certain jobs.
Financial literacy was another key area of concern. Nearly half (45%) admitted they lacked confidence in managing their finances. Most respondents supported introducing “financial education” as a required subject in schools. This reflects a growing desire among Generation Z to develop better financial skills to navigate today’s job market.
Read more: Nearly Half of Generation Z Suffer from Office Anxiety