Gen Z in India is focused on skill development and entrepreneurship, according to recent reports. They are also willing to spend money to upgrade themselves. At least 57% of borrowers under 30 years of age used loans for short-term courses, digital certifications, or technical training last year, according to a report by loan app mPokket.
This generation is keen on building specialised skills, gaining industry-relevant knowledge, and advancing in their careers. This trend signals a shift toward continuous learning as a mean to secure long-term financial stability, said the report.
Entrepreneurship is no longer a side hustle—it’s the main goal
The study also mentioned that 25% of young professionals borrowed to fund their business venture ideas, with 59% of these loans directed toward expansion and 27% toward marketing. “Gen Z is not waiting for job opportunities – they’re creating them,” it said.
The year 2025 is likely to see a surge in independent work and small business financing, as Gen Z continues to prioritise financial autonomy over traditional employment.
80% Gen Zs prefer career growth over salary
Another study pointed out that about 80% of Gen Z prioritise mentorship and career growth over traditional metrics like salary, reflecting a stronger focus on personal and professional development.
They aim to build skills that naturally lead to rewards, emphasising a future-oriented, strategic mindset instead of short-term gains, it added.
So, Gen Zs adopt a more deliberate approach, seeking clarity and purpose in their careers, unlike those from previous generations for whom financial stability was important, said a report by Apna.co. It surveyed 10,000 Gen Z professionals to explore their professional preferences.
Only 37% employees feel confident of their skills
Another study by ADP Research last month, showed that only 37% employees in India are confident of their skills to move to the next job level. There is also a growing gap between employee needs and workplace support systems as only 32% of them feel their employers are investing in their skill development.
The study surveyed about 38,000 workers, offering insights into workplace trends and employee sentiments.
Gender differences in India
The ADP Research study revealed that about 40% of women feel confident about their skills for advancement as compared to 36% of men. At least 37% of women were of the view that their employers are supporting their skill growth, while only 29% of men share the same sentiment, it added.
Prioritising skill development is the key
A skilled workforce is more loyal to their employers, remain more productive, and focussed towards achieving the goal, according to the ADP research.
Findings of the study showed that addressing skill gaps is crucial. Employees who feel their employers provide adequate training are about six times more likely to recommend their organisation as a great workplace; 3.3 times more likely to report being highly productive; twice as likely to say they intend to stay with their company for long.