3 Min Read • August 26, 2024
Gen Z Workers at Dealerships Want a 401K and Feedback
In the 2024 CDK Dealership Workplace Study, respondents told us how satisfied they were with their jobs and benefits. And while nearly three out of four were satisfied with their jobs, nearly a third still plan to leave their jobs in the next six months.
Many hiring managers might be wondering how their youngest workers fit into that equation. So, we took a closer look and when you zoom in on Generation Z (ages 18–25) dealership employees, some responses were radically different and others were overwhelmingly meh.
That “meh” feeling comes through immediately when the Gen Z workers in the study (more than a third of all respondents) were asked if they were satisfied with their present job. Only 55% said yes, compared to 74% of all others. Another 43% said they were neither satisfied nor dissatisfied (meh) with the job, and another 2% of Gen Z said they were dissatisfied, which was below the total sample at 4% dissatisfaction.
That large sigh of meh runs through many other responses including one that fits a lot of stereotypes about this younger generation. When asked the level of motivation they have in succeeding in their position, most said they were either somewhat (51%) or extremely motivated (4%), both behind the total number of employees we surveyed. But 44% of Gen Z said they were neither motivated nor unmotivated compared to 25% of the total. The good news is nearly none of the respondents said they were unmotivated, 1% in both camps.
When asked point-blank about a black-and-white issue — compensation — the meh responses resurfaced. Far more (48%) of Gen Z said they neither agreed nor disagreed with whether their income was reflective of any effort compared to 37% of all workers. And 35% answered in the neutral when asked if income was reflective of their skill level compared to just 25% of all employees.
Trying to decipher what would motivate Gen Z is also difficult. When asked what contributes to their job satisfaction, Gen Z was more hesitant to answer to any of the possibilities compared to older workers, even when it came to compensation. The only area we saw a significant difference was the need for adequate feedback on their job performance from management. Here, 26% of Gen Z pointed to feedback as a lever of satisfaction compared to 20% of all respondents.
Gen Z was also less likely to say what dissatisfied them, scoring below the rest of their older peers in most areas. One they did score significantly higher with was job stress, with 54% of Gen Z saying it led to dissatisfaction compared to 47% of all respondents. Difficulty taking time off was another area where they scored higher at 30% compared to 24% for all workers.
In terms of benefits, don’t think younger workers aren’t thinking about retirement. Slightly more Gen Z respondents (65%) said a retirement plan was an important contributor to job satisfaction compared to 63% of all respondents. Their responses around a matching contribution were also right in line with their counterparts. And yes, they also are just as focused on medical, dental and vision insurance, long-term disability, and life insurance as their older colleagues.
Hiring managers might bristle offhand at the higher levels of attention Gen Z says it wants, but to reduce churn, it might be needed. Far more Gen Z respondents (39%) said they were looking for a job at another dealership in the next six months compared to 24% of all respondents. These young employees may be meh outwardly but they’re still looking to work in automotive retail moving forward.
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David Thomas is director of content marketing and automotive industry analyst at CDK Global. He champions thought leadership across all platforms, connecting CDK’s vast expertise to the broader market and trends driving our industry forward. David has spent nearly 20 years in the automotive world as a product evaluator, journalist and marketer for brands like Autoblog, Cars.com, Nissan and Harley-Davidson.
