The Culture of Loyalty to Companies is Fading
In recent years, the trend of staying loyal to a single company has been gradually fading, especially among the younger generation. Vera Lau, 27, is a prime example of this shift, having worked for three different companies within just a few years. This stands in stark contrast to the long-term commitment mindset of previous generations.
Lau candidly shares her perspective: “I don’t think loyalty will be rewarded. It’s all transactional; you only have value as long as they see value in you. If you can’t learn or make more money, it’s time to move on.”
Today’s job market has changed significantly compared to the 80s and 90s, when previous generations were grateful simply to have a job and be paid. A survey by WorkProud published in May shows that only 23% of employees under 42 expressed a desire for long-term commitment to their company. Among those under 30, this figure drops to 18%.
Rick Garlick, a policy expert at WorkProud, notes that the culture of loyalty to companies, particularly among younger employees, is fading. A report from Endowus and Intellect also reveals that 43% of Gen Z in Hong Kong and Singapore frequently think about quitting their jobs.
Experts suggest that today’s young workforce prioritizes factors such as work-life balance and company culture over blind loyalty. This shift forces employers to adjust their strategies to retain talent.
Jerome Zapata, the HR director at Kickstart Venture in the Philippines, believes that loyalty is no longer rewarded as it once was. Job-hopping often results in higher salaries, while raises based on performance tend to be capped. In the past, staying loyal to a company could ensure lifelong care for employees, but now retirement benefits are no longer sufficient to sustain a living.
However, the stigma associated with job-hopping persists, especially for those in senior leadership roles. Sumita Tandon, HR director for Asia-Pacific at LinkedIn, advises that workers should carefully weigh the pros and cons of job-hopping. While it can open new opportunities and increase income, frequent changes may cause future employers to be more cautious in their hiring decisions.
Zapata observes that Gen Z is redefining corporate culture by rejecting traditional loyalty. To attract young talent, company leaders need to offer more benefits, competitive salaries, and flexibility.
Still, Lau believes that abandoning loyalty has helped her develop better skills, earn more money, and gain confidence. “But I’m still judged, like many other Gen Z,” she says. The cultural shift in the workplace between generations is inevitable, and while companies are still predominantly led by the older generation, this will eventually change as they retire.
