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Gen Z wants their paycheck on a daily basis

August 29, 2022

Plus flexibility. Plus benefits, Plus casual dress code, and pet-friendly offices. Yes, a recent report from the Center for Generational Kinetics (CGK) reveals that young employers have significantly changed or are re-evaluating their career and job expectations, beliefs, and plans. They also continue to navigate remote and hybrid work environments. And the bottom line: Gen Z clearly wants to feel respected and appreciated at work and they like the option of getting paid every day. 

The study shows that 61% of Gen Z would like to have the option to receive the wages they’ve earned every day. As the first generation to come of age in a time when millions of employees are offered the benefit of being able to receive their wages on the same day (or the day after) they were earned. 

According to experts heard by Fortune magazine, the pandemic accelerated the rise of an on-demand world: food delivery, car rides, housing, and even car buying and selling can all be done at the push of a button. Pay is the natural next frontier: “For many of us, this is a welcome evolution, but for Gen Z, [getting things on-demand] is just the way they grew up,” Jeanniey Walden, chief innovation and marketing officer of on-demand pay software company DailyPay, told the magazine. “It’s not only what they know, it’s what they expect.”

The CGK researchers also say that having immediate or near immediate access to wages is something that many in Gen Z will have always known as an option. Employers who do not offer this option will likely be at a disadvantage in recruiting and retaining Gen Z as more companies roll out this payroll-style feature. 

What the ideal work environment looks like to Gen Z? 

The study found that 40% of Gen Z would quit a job that required them to go from working remotely to working in person at a physical office or location 5 days per week. Many in the generation believe they can do great work outside of a traditional, physical office environment. In fact, 25% of Gen Z would prefer to only show up at their employer for important events or work remotely all the time. A slightly higher number (29%) still prefer a traditional physical office all the time. The remaining 47%—almost half—prefer some combination of in-office and remote working from home arrangement.

“The complexity of this diverse generation and all they’ve experienced show us that the generation is still developing their work identity and determining their career pathway. While the long-term impact of the pandemic on Gen Z remains to be seen, the near-term impact is clear, dramatic, and meaningful”, the authors say.

Source: Center for Generational Kinetics | Fortune