More than three-quarters (77%) of Generation Z and 71% of Millennial employees would look for a new job if they were asked to go into the workplace full-time, according to research by Deloitte.
The audit and assurance provider’s 2023 Gen Z and millennial survey, which is in its 12th year, gathered insights from more than 22,000 respondents across 44 countries. It found that 46% of Gen Z and 42% of Millennial staff were less likely to be able to ask for more flexibility at work if the economy does not improve.
More than half (51%) of Gen Z and 47% of Millennial staff felt stressed all or most of the time, higher than the global average, and 25% of Millennials answered work emails outside of normal hours at least five days a week.
For the second year in a row, the cost-of-living crisis was the top concern for 50% of Gen Zs and 55% of Millennials, higher than the global average of 35% of Gen Zs and 42% of millennials, as well as last year’s figures of 31% and 38%, respectively.
Nearly half (48%) of Gen Zs and 55% of Millennials lived payday to payday and worried that their monthly income would not be able to cover their expenses, while 25% of Gen Zs and 26% of Millennials valued remote working because it helped them save money.
Kate Sweeney, partner and human capital lead at Deloitte, said: “Employers who recognise this desire for choice and support this are more likely to attract, retain and motivate the best talent from these two generations. Wellbeing must become a strategic priority for organisations of every size, not only to support employees experiencing anxiety and stress, but also to prevent people from becoming overwhelmed in the first place.
“Strategies to manage wellbeing differ from person to person based on their circumstances, so organisations need nuanced support to enable their employees to thrive. Leadership should set the tone at the top: whether continuing to invest in training to help managers and employees spot signs of poor mental health and understand how to reach their employees and help.”