“We’re looking for jobs where we don’t have to go into the office more than two days a week.”
I was talking to an impressive young couple, both in their early 20s and a year out of college, where both graduated magna cum laude.
They were echoing the common refrain among younger Millennials and Gen Zers. They want to work from home, at least part time. And as the first emerging workforce post-COVID, it’s yet to be determined whether theirs is a fleeting thought or a fad that will become commonplace over the coming decades.
That’s what makes the recent survey by Ford Motor Co. so fascinating. The study showed 52% would accept a 20% pay cut for a better work-life balance.
Conducted last August and September, the survey included interviews with more than 16,000 people across a litany of countries including the United States who would be willing to take a 20% pay cut for a better work/life balance.
“It shocked us. I’ll be honest, said Ford chief futurist Jen Brace. “A 20% pay cut is a big deal.”
And don’t be mistaken into believing that the findings were skewed by other nations like Australia, Italy or Canada.
“If you look generationally, and if you look in the U.S. in particular, you saw our younger generations being even more willing to give up money for a better quality of life.”
These findings raise important questions.
What is the new definition of the American Dream?
How must employers evolve to not only reduce turnover but to become true landing spots? Yes, wages are important and always will be. But a collaborative, supportive culture has never been more important.
I’d love to hear what you’re doing to be an employer of choice. Email your solutions to mitch.morrison@informa.com.
Mitch Morrison is vice president of retailer relations at Informa Connect.
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