Work that matters, not just a paycheck:Gen Z

A major shift is visible in today’s job market. Until 10–15 years ago, a stable salary, permanent job, pension, or at least job security defined a good career. Once people got a job, their goal was to hold onto it for life. But this mindset no longer satisfies millennials and Gen Z professionals.

Even if the salary is decent, their priorities have changed. They ask themselves: “Does my work have meaning? Are my ideas being heard? Is my work making any impact on society?” Reports from Deloitte and EY highlight this clearly. While 80% of employees have access to tools and training, only 47% feel they truly get the chance to innovate.

This has created an “impact gap”, leading 40% of millennials to consider leaving their jobs. In other words, even with salary and benefits, if a sense of purpose is missing, today’s professionals are unwilling to stay. Work is no longer just completing tasks it must have value. For example, if a software engineer develops an app, it should benefit society; if a marketing executive runs a campaign, it should deliver a meaningful message. Without that, the work feels pointless.

Companies like Dell Technologies understand this and engage employees in sustainability projects and digital inclusion programs. Tata Motors’ Earn & Learn program allows 15,000 apprentices to study and work on live projects simultaneously. Unlike previous generations, who prided themselves on working 25 years at one company until retirement, millennials view staying at a single company for 20 years as daunting. They seek new challenges, environments, and purpose every five years. In an EY survey of 17,000 employees across 23 countries, 40% said they would leave their jobs within a year, a clear warning for organizations.

This shift is forcing companies to rethink strategies. Cafeterias, free lunches, and gyms are no longer enough. Employees stay longer only if they can see how their work contributes to a bigger picture. Small companies face a bigger challenge—they cannot compete with large firms on salary and perks, so they must demonstrate societal impact to retain talent.

A clear trend is emerging in the job market: “Perks vs Purpose,” and Purpose is winning. For millennials and Gen Z, salary comes second; meaningful work, opportunities to innovate, and societal impact take priority. Companies that fail to understand this will lose talented young professionals, while those that do will move forward with fresh ideas and innovation.

Simply put, for millennials, a job is not a lifetime contract but a purposeful journey. If the work lacks meaning, they are ready to leave at any time.