The face of America’s workforce is changing. Gen Z now accounts for 18% of U.S. workers (surpassing Baby Boomers, who represent 15%) — and is expected to make up more than one quarter (27%) of the global labor force by year end and nearly three quarters (74%) by 2030.^1,2 This generational shift is giving rise to fresh expectations when it comes to goals and mindset: A focus on the pursuit of workplace happiness.

Value is measured in more than dollars

Gen Z is revealing preferences and priorities for workplace happiness that may be somewhat different from older generations. Climbing the corporate ladder is less of a focal point, with only 6% saying they want to reach a leadership position.³ Instead, the cohort is projecting a values-first mindset, with many intent on finding this trifecta: Making money, finding meaningful work, and achieving well-being.^4,5 But balance matters: 60% feel happy when financially secure, 89% are motivated by a sense of purpose, and 62% who rate their mental well-being as good say they are happy.⁶

How does this equation translate to success? Empower research reveals that just 27% of Americans rank wealth as the highest measure of financial success. Rather, nearly 3 in 5 (59%) say happiness is the most important benchmark — in other words, doing what one loves and being able to spend money on the things and experiences that bring the most joy.

Gen Zers are building on that notion. Salary is still part of it, but the quest goes beyond prestigious titles to redefine personal success as a blend of authentic experiences and purposeful work at organizations whose values mirror their own.⁷ It’s an “emotional paycheck” with a perceived payout that has 3 in 5 (60%) opting for roles that align with personal values over high pay — and can position them to create a positive social impact.⁸ That’s not to say though that Gen Zers are not ambitious. In fact, 70% expect to be promoted within 18 months.⁹

Read more: Secret to success

Two visions converge

Though Gen Zers seem to be sending a message that money isn’t everything, financial happiness and workplace happiness are linked. For many, work plays a key role in defining financial joy, with 65% of Americans equating financial happiness to having a job they love, and 74% saying a better work/life balance would bring them more happiness — a sentiment that’s even higher among Gen Zers (79%).

Americans do put a price on financial happiness — it clocks in at $1.2 million on average— but that may be less about the dollar amount and more about financial peace of mind. Empower data shows there’s a desire to reach money milestones such as being able to pay bills on time, live without debt, own a home, and afford everyday luxuries without worry —and for nearly three fourths (73%), well-being is rooted in a sense of security of a financial plan.

Read more: Financial happiness

Benefits matter too

Workplace benefits are also key. Empower findings underscore a growing demand for personalized, practical financial wellness benefits that both support individuals and influence their productivity, engagement, and retention.

Which are high on the wish list? Support for day-to-day lifestyle and financial resilience resonate most for next-generation workers, with people prioritizing unlimited paid time off or open leave options (45%), financial support for major life events (33%), flexible wage arrangements (32%), and paid sabbaticals (21%).

Read more: The Benefits Blueprint: Benefits to build financially resilient workforces