Almost half of Gen Zs interviewed for the survey were concerned about the high cost of living, unemployment, and climate change. The high cost of living is a top concern for Gen Zs, who live paycheque to paycheque. Many are taking on side jobs to tackle financial issues, according to Deloitte’s 2023 Gen Z and Millennial Survey.
This has resulted in Gen Zs postponing their big life decisions, such as buying a house and starting a family. They have adopted behaviors that save money, like buying second-hand clothes and not buying a car.
The survey is based on the responses of 22,856 respondents, of whom 14,483 were Gen Zs, and 8,373 were millennials, from 44 countries across North America, South America, Western Europe, Eastern Europe, Africa, the Middle East, and Asia Pacific. This report includes 800 responses from India.
What Do Gen Zs And Millennials Prioritise?
While 49% of Gen Zs and 62% of millennials said work is central to their identity, work-life balance is something that they want, the survey revealed. Gen Zs and millennials would like their employers to offer better career advancement opportunities for part-time workers, more part-time jobs overall, and the option for more flexible hours for full-time employees, reported Economic Times
It also added that Gen Zs and millennials valued remote and hybrid work and saw its advantages. Three-quarters of respondents currently working remotely or in hybrid mode would consider looking for a new job if asked to be on-site full-time.
Moreover, 46% of Gen Zs and 39% of millennials feel stressed and anxious at work most of the time. The top stress drivers are their long-term financial structure, day-to-day finances, and the health and welfare of their families. Concerns about mental health and workplace factors such as poor work-life balance, heavy workload, and unhealthy work culture are also at play. Work pressure is causing an increasingly high level of burnout among Gen Zs and millennials.
Also Read: “Make Your Passion Your Career”: Woman Quits Full-Time Job To Travel, Inspires Netizens
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2023-05-22 10:59:21.0
More Millennials And Gen Z Are Taking Up Full Or Part-Time Jobs Due To High Cost Of Living: Study
