Limited resources or being your own boss: Why is GEN Z not interested in jobs?

Limited resources or being your own boss: Why is GEN Z not interested in jobs?

The decision to ditch a traditional job in favor of starting your own business is more prevalent now than ever before. “Generation Z,” born after 1996, is at the forefront of this movement, both globally and in Pakistan.

This trend is increasing for various reasons. Many individuals from Generation Z are driven by a desire to escape from rigid traditional work schedules and constant surveillance from superiors. According to a BBC Urdu report, they seek the freedom to explore the world with just a laptop and a reliable internet connection.

Moreover, they crave independence and autonomy, long to be their own boss and have the flexibility to work on their own terms. This challenging and dynamic environment attracts them, driving them towards entrepreneurship.

A large-scale survey by Lloyds Bank – a major British financial institution – revealed that 60 percent of Generation Z youth said they would rather quit their job and start their own business. However, 80 percent said they would rather be their own ‘boss’ than work under another ‘boss’.

19 percent said that there is no satisfaction in the job, if they wanted, they would find their own work and peace.

Another study in the US revealed that 50 percent of young people want to do their own business instead of a job and it is a similar situation emerging in Pakistan and India.

For example, Ayesha Awan decided to do something other than work even during her studies. He is the co-founder of a startup company ‘SocialBu’.

He was always against the idea of working for anyone and had decided during his studies that he wanted to launch his own business, not a job.

“Freedom to create, think and express is very important to me, which is why I launched my startup when I got the first chance,” says Ayesha.

“It’s dangerous… there’s a lot of tension. It is very difficult to work with a team, but the fun and joy of doing work alone is different,” he added.

He says that the first objection was from the family, but he believes that now doing business is very easy, you just need a laptop and Wi-Fi and you can connect with people all over the world.

In most societies, employment has been considered as a better and safer option, but this change does not happen immediately as things are slowly changing in countries like Pakistan.

Salman Shahid, chief executive of Pakistani company Gray Matter Global, said that many young people in Pakistan are still looking for jobs instead of their own. His company ‘Grey Matter Global’ helps university students in their career choices.

 

Shahid said, Pakistan’s economic situation forces the youth to find alternative sources of income.

He said that 78 percent of students studying in Pakistani universities still prefer the job.

However, in recent times, the attitude of the youth has changed and the main reason is social media where influencers show alternative sources of income to young people.

Young people are not only in a dilemma to find an alternative source of income but also need an alternative lifestyle. The Covid-19 pandemic is also the cause of changes in youth attitudes.

Shahid said the decision to be ‘your own boss’ started as a joke, but it is now a reality. Young people now prefer internships and freelances because of the flexibility in working hours and reduce their travel expenses because they work from home and with a relatively good salary.

He believes that the job market in Pakistan is so bad that young individuals who have invested four years in university education (spending about Rs1.5 to 2 million) often find themselves accepting jobs with a monthly salary of between 35,000 to 40,000 rupees. This, he asserted, represented a ruthless exploitation of the youth by our society.

Determining whether a new job or business is more challenging is difficult, as it depends on factors such as personality, environment and support system. Both options come with their own set of advantages and disadvantages.

With a job, the benefits lie in receiving a fixed monthly salary regardless of the company’s finances. This enables financial support of one’s family and provides time for personal matters. However, income and career growth is often limited and slow.

The process of implementing an idea within the corporate hierarchy can be time-consuming and daunting, often taking weeks to be approved.

On the other hand, entrepreneurship offers unlimited income potential and flexibility in decision making and time management. It also provides a better work-life balance. However, the risk of financial loss is inherent, and entrepreneurs must be prepared to invest considerable time and effort in their ventures, often working long hours to achieve their goals.

Hamza Ahsan, founder of Applywise, acknowledges the challenges he faced after launching his startup. Lacking experience and guidance at first, he relied only on his passion and determination. Ahsan advises potential entrepreneurs to stay committed despite criticism and keep moving forward.

In the end, it’s important to consider one’s circumstances and follow one’s gut when making a decision between employment and entrepreneurship. However, a careful assessment of the possible consequences is important before taking any steps.