For some time now, recent studies have predominantly concentrated on the newest members of the workforce—Generation Z. However, in a departure from this trend, a company has undertaken a study to explore changes in the perception of industry pillars among Generations X (ages 43 to 58) and Y, also known as Millennials (ages 27 to 42).

Based on the recent study titled “The ABCs of Pinoy Xs and Ys,” conducted by the HMO company PhilCare, these two generations seem to be inclined towards pursuing a different career path—preferring ownership of a business. Even if they are employed, they aspire towards flexible working hours.

This study aimed to shed light on the two generations' attitudes and priorities and the evolving dynamics of the modern workplace. It revealed that both generations strongly prefer entrepreneurship over the security of traditional employment, with 53 percent of the respondents saying they would rather start their own business than remain as employees.  

"The result suggests a growing desire for autonomy and ownership, a desire to create something that they will be proud of in years to come," PhilCare Wellness Index Chairman Dr. Enrique Ona said. "That's why I believe employers who want to attract top Gen X and Y talents should capitalize on their entrepreneurial spirit by finding ways to keep them engaged, and how to give them a sense of ownership and purpose that will help drive performance."

The study also found that 38 percent prefer flexible work arrangements over rigid fixed hours. Also, 33 percent want to work until retirement rather than retire early to pursue other income opportunities.

This indicates that these two generations embrace prolonged careers over early retirement, and the conventional narratives surrounding retirement are being challenged. Thus, this underscores the evolving perception of work as an integral part of life.

"It is no longer the younger generation that sees the opportunity to work remotely as a strong motivating factor to consider a job," PhilCare Wellness Index lead researcher Dr. Fernando Paragas said. "The shift in mindset of Gen X and Y signals a departure from the traditional 9-to-5 structure, with both generations seeking greater control over their schedules. This demand for flexibility underscores the importance of prioritizing health, well-being, and work-life balance. Any business or organization that wants to win the war for talent should create a flexible work arrangement top of mind."