The report, report titled “Gen Z and Millennials: Reshaping the Future of Workforce”, written in partnership with hiring firm Indeed, revealed that significant hiring of freshers over the last few years in the tech Industry pushed the share of Gen Z to 18-20% and millennials to 68-70% of the total employee base in FY22. In fact, 79% of Gen Zs are willing to spend over two years in their first job, provided employers give them the right value proposition, said the survey.

As of 2021, India’s demographic share of millennials and Gen Zs stood at 52%, compared with a global average of 47%, said the report, adding the trend is expected to maintain momentum till 2030, when the share will be 50%, as against a world average of 46%.

“With newer perspectives and ideas, Gen Zs and Millennials are setting the future course of employee engagement, retention, and acquisition strategies. It will be interesting to see how these newer generations shape India’s future as the talent hub of the world,” said Sangeeta Gupta, senior vice president and chief strategy officer, Nasscom.