Additional investment subtrend

In fact, a healthy work-life balance and fulfilling job content often rank higher than salary when it comes to choosing a job among the oft-cited “Millennials” (people born between 1980 and 2000) and particularly “Generation Z” (those born between 1995 and 2012).* They also generally have a slightly different focus when it comes to their consumption patterns.

Integration or better separation between work and personal life?

Due to the changes in the working world resulting from factors such as digitalisation, Industry 4.0, teleworking, and so forth, work-life balance is often being displaced by “work-life integration”, which is also referred to as “work-life blending”.

While work-life balance is about counterbalancing and harmonising the two poles of work and free time as best as possible, this new approach seeks to make the boundaries between the two fluid or even blend them together. However, the result is highly dependent on how this happens and how it is implemented, structured, and put into practice by companies and their employees. If not handled correctly, the whole thing can quickly turn into a sham. For example, when a person’s job takes over their whole life like a metastasizing disease due to a lack of clear boundaries and the purported freedom and flexibility lead to self-exploitation.

Work-life integration as a form of permanent on-call duty is not at all the ideal for Generation Z, a target group that is sought after equally as both employees and consumers. Austrian studies indicate that fulfilment at work (88%) is important to Generation Z, while factors such as open-plan offices (4%) and overtime (24%) rank lower. Global trend research also shows that young people are still looking for structure, security, and a sense of well-being. Hyperflexibility may appear attractive to some employers and companies in the short term, but it is clearly “out” for the vast majority of young people.**

Future generations setting new priorities

The evidence clearly suggests that a fulfilled life including a rewarding career is becoming increasingly important for the younger generations. By contrast, climbing the career ladder and having expensive status symbols are losing significance. In terms of consumption patterns, “Buy memories, not (material) things” is becoming the new motto for many people. This fits much better with more sustainable business practices and lifestyles than the compulsion towards consumerism.

For parents, work-life balance and work-life integration often primarily mean the ability to better juggle family and work responsibilities. For people without children, important factors often include recreational activities and sports as a way to unwind from the stress of work life. However, the question of work-life balance is often relevant for people who do not work as well, namely in the sense of engaging in targeted and meaningful activities, such as volunteer work, for example. In this case, the emphasis is less on the financial aspect and more on the impact that can be made in associations, initiatives, self-help groups, neighbourhood projects, and the like.