Meaningful work, flexible work-life balance and career opportunities are key to recruiting and retaining Generation Z and millennial cohorts in Thailand, according to a survey by consulting firm Deloitte.
Some 31% of Gen Z and 38% of millennial respondents in Thailand are frequent users of generative artificial intelligence (GenAI) at work.
Thai Gen Z and millennial workers are experiencing less stress and anxiety this year when compared with 2023, with the cost of living remaining their top concern.
The Deloitte 2024 Gen Z & Millennial Survey included 22,841 respondents aged 19 to 29 (Gen Z) and 30 to 41 (millennials) in 44 countries, of which 301 were employed in Thailand. Of the Thai respondents, 201 were Gen Z and 100 millennials.
"The cost of living is the top concern both in Thailand and globally," said Chodok Panyavaranant, clients & markets manager at Deloitte Thailand.
The second and third most common concerns among Gen Z employees in Thailand were unemployment and inequality of wealth, according to the results of the survey. Among Gen Z respondents in other countries, concerns such as unemployment and climate change were among the second and third most common concerns.
The second and third most common concerns among millennial employees in Thailand were income inequality and political instability or global conflict. Globally, millenial employees' second and third most common concerns were climate change and crime/personal safety.
Mr Chodok said the survey found 96% of Gen Z and 99% of millennials in Thailand said that having a sense of purpose in their job is either "somewhat important" or "very important" in relation to their job satisfaction and overall well-being.
Moreover, 55% of Gen Z and 60% of millennials in Thailand said they refuse to carry out tasks that go against their ethics and beliefs, while 55% of Gen Z and 57% of millennials said they refuse to work with organisations that contradict their values.
They choose to work with organisations that prioritise a work-life balance, offer learning and development opportunities, and provide meaningful work.
Overall, Gen Z and millennials in Thailand believe employers show more concern for employees' well-being compared to the global average.
"Meaningful work with driven purpose is important to those young generations as well as work/life balance for flexible hours/location. Ability of learning or career opportunities are key to maintain and attract young employees, particularly the talents," said Manita Limsakul, human capital senior manager at Deloitte Consulting.
Ms Manita said Gen Z and millennials represent the primary workforce driving the global economy today. Organisations which can adapt to care for the younger generations will create a significant competitive advantage for their organisations, according to Ms Manita.
Regarding climate change, 81% of Gen Z and 92% of millennials in Thailand expressed concern, higher than the global average of 62% and 59%, respectively.
They also viewed that the government and businesses should play a greater role in addressing climate change, with 90% of Gen Z and 91% of millennials willing to pay more for environmentally friendly products.