According to a Nasscom survey released on Friday, the Indian technology industry hired over 380,000 freshers in FY22, and more than 70% of Gen Z students are interested in working in technology in the near future.
According to the data, increased fresher recruiting in the Indian tech industry over the previous several years has pushed the share of Gen Z to 18-20% and millennials to 68-70% of the overall employment base in FY22.
According to a Nasscom survey conducted in collaboration with job search website Indeed, 79% of Gen Z are willing to spend longer than two years in their first job in the Indian technology Industry if employers present them with the correct value proposition.
As of 2021, India’s share of millennials and Gen Z was 52%, higher than the global average of 47%.
This trend is predicted to continue in the tech industry in India until 2030 when the share of India’s Gen Z and Millennial population will be 50%, greater than the global average of 46%.
“With fresh perspectives and ideas, Gen Z and Millennials are charting the future trajectory of employee engagement, retention, and acquisition tactics. It would be fascinating to observe how these younger generations build India’s future as the world’s talent hub “said Sangeeta Gupta, Nasscom’s Senior Vice President and Chief Strategy Officer.
While brand value is the most significant factor for both millennials and Generation Z, culture and ethics, as well as learning and growth, are important considerations for the Gen Z demographic when choosing a company.
Generation Z is more likely to work in the office, with 85% preferring to either work remotely or in a hybrid arrangement.
“Work-life balance is important to Generation Z employees. They prefer work cultures that are compassionate and varied, provide development opportunities, and are consistent with their basic beliefs “Indeed’s Head of Sales, Sashi Kumar, stated.