Bengaluru, December 18, 2024 — Genesys®, a global cloud leader in AI-powered experience orchestration, announced the release of a new research report, “Generational dynamics and the experience economy.” The global research, which surveyed 13,000 consumers, including 7,000 Generation Z participants from 23 countries, highlights the critical trends shaping the future of customer and employee experiences.
The report delves into the intricate dynamics of four distinct generations — Gen Z, millennials, Generation X and boomers — to help businesses understand the evolving preferences and needs of today’s consumers and workforce. From varying attitudes toward AI adoption in the workplace to preferences for communication channels and brand values, the report’s findings emphasise the complexity for organisations to orchestrate experiences that meet diverse sets of needs effectively.
Exploring the distinct expectations and preferences of India’s youngest employees, Gen Z (born 1997-2012), the comprehensive study reveals this group to be an influential cohort that prefers personalised and seamless experiences across all touchpoints, leveraging AI and data to cater to individual needs. As employees, Gen Z and millennials worldwide value a supportive work environment and culture, flexibility and work-life balance over good compensation, recognition and benefits.
Each generation brings its unique perspectives, preferences and expectations to their brand interactions. To drive loyalty today, organisations need to deeply understand their customers and employees to ensure their experiences resonate.
Key Findings in India:
- Gen Z prioritise a healthy work-life balance: Gen Z employees in India exhibit a strong desire for a good work-life balance, with 74% identifying it as a top priority, surpassing the preferences observed in regions such as ANZ, China, Japan, the Philippines and South Korea.
- Workplace flexibility is a top priority: In India, 83% of Gen Z and 78% of boomers would prefer to work in flexible work conditions while 92% of Gen X emphasise the necessity for equitable compensation and benefits. Compared to the APAC average across all generations, while brand reputation remains a top priority when looking for a prospective employer, employees in India are more likely to favour companies that equip them with modern tools and technology to perform their jobs effectively.
- Younger generations influenced by social media: While 69% of Gen Z in India responded positively to customer service interactions via social media, 31% of boomers find it acceptable. Instead, the boomers (85%) prefer in-person interactions, such as when visiting a company store or bank branch, as their preferred mode of customer service interaction.
- Peer influence is significant: Younger generations, particularly Gen Z and millennials, place a high value on the perspectives of others, with 84% of Gen Z and 87% of millennials relying on customer reviews and ratings when making purchase decisions. Gen X follows closely at 81%, while only 54% of boomers show similar reliance on customer reviews and ratings, instead they prioritise a brand’s reputation for customer service and support.
- Personalisation should be a priority: Personalisation across channels has become an expectation across all generations, with over 72% of Gen Z and millennials, and 78% of Gen X and boomers, expressing their willingness to engage with personalised experiences.
- Expectations for AI: Only 11% of Gen Z and millennials and 4% of Gen X and boomers are concerned about AI replacing their jobs in the long term. Meanwhile, around 36% of Gen Z and millennials, and 42% of Gen X and boomers, recognise AI’s potential to enhance their job efficiency. Organisations should view this as an opportunity to educate and train their workforce on the benefits of AI.
“Our study highlights the evolving expectations of customers and employees, particularly in India, where Gen Z are setting new workplace benchmarks. These generations are optimistic about AI’s role in enhancing job performance and prioritise flexibility, work-life balance, and personalised experiences. At Genesys, we believe organisations must leverage AI and data to create empathetic experiences for both customers and employees, fostering supportive work environments and delivering exceptional customer service to drive long-term loyalty and growth,” said Raja Lakshmipathy, VP and MD, Genesys India & SAARC Region.
In a time where remarkable experiences are expected — whether a large global enterprise or small, local business — the report highlights the transformative power of delivering on the unique expectations of each generation to foster long-term loyalty and business growth.