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Young professionals to companies: prioritise pay, not play

by | Aug 22, 2023

Investor’s Notebook

Young professionals to companies: prioritise pay, not play

by | Aug 22, 2023

In the ever-evolving landscape of modern corporate culture, there’s a new demographic speaking out: young professionals. In the race to attract the best and brightest, companies across the globe have invested millions, if not billions, in flashy office designs, quirky perks, and enviable recreation spaces. Yet the message coming from the new generation is clear; beanbags, Americanised culture, and colourful posters aren’t cutting it when it comes to job satisfaction and company loyalty.

Over the past decade, we’ve seen an influx of companies modelling their workspaces after industry giants like Google and Facebook. The premise is clear; create a fun, inspiring workspace and productivity will soar. Not to mention the added benefits of looking modern and approachable to potential clients and recruits.

However, in recent times, with the help of social media and open platforms, my fellow young professionals are beginning to vocalise their priorities, creating a shifting narrative. While the aesthetics of colourful offices are appreciated, they often feel superficial. In-depth surveys and candid online discussions suggest a simple truth; what young professionals value most are competitive pay and personal privacy.

Young professionals care more about competitive pay over perks, though it’s easy to understand the allure of providing perks; an espresso machine in the break room or a Friday evening karaoke session may seem like a small investment for employee satisfaction.

But let’s put things into perspective; these perks, while enjoyable, are transient. They don’t significantly affect an employee’s financial stability, quality of life, or long-term satisfaction. In a world of rising living costs and mounting student loans, young professionals are looking for competitive and fair remuneration above all else. Many are starting families, planning for the future, or dealing with financial commitments.

Moreover, when companies spend a significant portion of their budget on non-essential office aesthetics and recreation, they inadvertently send a message; it implies a misallocation of resources, which could otherwise be used to better remunerate the staff or invest in more meaningful professional development opportunities. I would place a bet whilst reading this article you are subconsciously listing a load of stuff in your office that you think “why did the firm spend money on that.”

There is also the sense of the increasing value of privacy. In an age of open-plan offices and collaborative workspaces, the concept of personal space and privacy is becoming a rare commodity. While collaboration is essential, the pendulum seems to have swung too far, leaving employees yearning for a quiet, private space to focus on their work without constant interruption. Privacy is more than just a physical boundary; it extends to digital boundaries as well. With the proliferation of workplace surveillance tools, many young professionals feel they’re constantly under the watchful eye of “Big Brother.”

A 2021 survey suggested that 64% of US employees felt their workplace negatively impacted their ability to maintain privacy. Constantly being in the gaze of colleagues or superiors can be mentally taxing. The idea that every move, both physically and digitally, is being monitored or scrutinised breeds a culture of unease rather than fostering genuine productivity. So, to the managers or board members reading this post, the glitzed up social media posts focused on “everyone is a main character” isn’t inspiring; it’s this patronising mess of self-righteousness that frankly no one actually cares about. The scariest part about this issue is that for young professionals and lower income earners we’re scared to speak out about misallocation of resources because we don’t want to burst the bubble of corporate happiness, even though the bottom line are merely working to survive.

It’s important to not be a buzzkill and to try and find the middle ground; I’m not saying companies should abandon their endeavours to create pleasant working environments. Instead, they should reconsider their priorities. Engaging with employees, understanding their needs, and tailoring benefits packages that address real concerns will yield a happier and more dedicated workforce. It’s time for corporate leaders to dial back on superficial offerings and focus on what truly matters. The message from young professionals is clear: provide competitive pay, respect our privacy, and create an environment where we can genuinely thrive.

I go into the office and I bump into a member of our catering staff. I chat with them and, over time, have got to know so much more about them. However, when our UK CEO walks past me and I say good morning, they don’t say hello and do not know a single thing about me, yet, they preach about positive working-culture. If I didn’t run the risk of getting fired I would say “how come you don’t give a f*** about me when I walk past, yet at company-wide meetings you’re all smiley and enforce this happiness?”

In the end, it’s about striking a balance. While flashy amenities can be enticing at first glance, they don’t hold weight against the real desires and needs of the young workforce. Companies that listen and adapt now will find themselves with a loyal, motivated, and productive team, proving that, sometimes, less fluff means more substance.

About John Gallagher

About John Gallagher

John Gallagher is the pseudonym for a young graduate that works for a major global real estate firm. In a series of articles for The PC “John” will tell us what his generation really thinks.

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