In the webinar titled “China’s Gen Z: Shaping the Future of the Workplace,” CKGSB’s Professor of Organizational Behavior, Zhang Xiaomeng, joined senior executives from Standard Chartered Bank, London Stock Exchange Group, Russell Reynolds Associates, and Robert Walters China to discuss the changing dynamics of China’s Gen Z workforce, as well as its impact on talent acquisition and HR practices.
The webinar was kicked off by Dr. Zhang who shared her findings from her research into China’s Gen Z. Based on an intergenerational survey involving nearly 17,000 Gen Z employees across China, her research stands as one of the most comprehensive studies on China’s Gen Z workforce.
Dr. Zhang explained that contrary to popular belief, she found no significant difference in the core values between Gen Z and other age groups. “Many values are shared and not unique to Gen Z. [Like other age groups], Gen Z also believes that physical and psychological health is the most important thing in their life.”
Dr. Zhang’s explained how her research challenges prevailing misconceptions about Gen Z’s approach to employment. She said that contrary to the idea that Gen Z tends to resign from jobs before securing alternative employment, her findings indicate that, like other generations, most Gen Z employees first consider adjusting their mentality and persevering when faced with job dissatisfaction. In the face of workplace challenges, approximately 20% of Gen Z individuals opt for internal job transfers, while only 5.5% choose resignation, she explained.
The webinar progressed to a keynote speech from Taunj Kapilashrami, Group Head of Human Resources at Standard Chartered Bank, who provided valuable perspectives on the evolving Gen Z workforce in China. She emphasized that Gen Z now make up approximately 25% of the Standard Chartered’s workforce – a number that is growing rapidly.
Drawing on data and insights from Standard Chartered, she subsequently highlighted that Gen Z seeks meaningful work and a strong sense of purpose. While compensation and rewards remain essential, Gen Z employees prioritize jobs that deliver impact and offer a deep sense of belonging.
The webinar moved turned to a panel discussion with noted professionals including Caroline Raggett, Managing Director, Board and AgFoodTech of Russell Reynolds Associates, Sean Li, General Manager of Robert Walters China and Pooja Jhaveri, Leadership Development and APAC DEI Director at LSEG.
Pooja Jhaveri built on Kapilashrami’s perspective, shedding light on Gen Z’s desire of Gen Z to have a greater say in the workplace. “This generation is asking to have more say, be more entrepreneurial, bring their ideas to life, impacting not only the overall strategy and products, but how we go to market with them,” she said.
Sean Li noted that over 11 million college graduates are seeking jobs this year, coinciding with a slowdown in economic growth and reduced job vacancies. He said there is a disparity between graduates’ expectations and the demands of the job market, emphasizing that due to many young people’s preference for office-based roles over physical, there is a shortage of labor in sectors such as manufacturing and services.
Caroline Raggett, Managing Director at Board and AgFoodTech, Russell Reynolds Associates, shed light on how recruitment processes for Gen Z candidate are evolving:
“Organizations in China are now bringing in much more nuanced filters around mindsets with a focus on purpose, diversity, inclusion, and fairness – not only for people applying from major cities – but also from third- tier and fourth-tier largest cities,” she explained.
The webinar was full of fascinating insights into the evolving nature of China’s Gen Z workforce. We would like to thank Asia House for their invaluable partnership in organizing this event. We also express our appreciation to the esteemed speakers for their engaging insights, as well as to all participants who made this webinar a resounding success.
You can view the full report “Understanding China’s Gen Z in the Workplace: Strategies for Cross-Generational Management” HERE.
