Work and life balance remains a top priority for millenials and Generation Z as they cited facing workplace pressures, high stress and anxiety levels.
According to a survey by Deloitte, they also said the cost of living is their top societal concern, with more than half of the respondents saying they live paycheck to paycheck.
Released on Wednesday, the survey explored how the disruptive events of the past three years shaped respondents’ lives and views.
Now in its 12th year, the study gathered insights from over 22,000 respondents across 44 countries.
Their responses reveal that while they acknowledge some positive change, they remain deeply concerned about their futures. The report underscores continuing concerns about personal finances, climate change and mental health.
“Gen Zs and millennials are seeking an equilibrium between their professional and personal lives. They are also guided by a strong sense of purpose, deeply concerned about global issues and aspire for a future where they can be active change agents,” said Deepti Sagar, chief people and experience officer, Deloitte India.
Gen Z and millennial respondents are seeing employers make progress in some key areas since the pre-pandemic times. Approximately 42% of Gen Zs and 55% millennials surveyed in India say they are very satisfied with their work and life balance.
Nearly half of Gen Zs and a majority of millennials say their job is still central to their identities, they place a strong focus on work and life balance—the top trait they admire in their peers and their top consideration when choosing an employer.
Seven in 10 Indian respondents said they are living paycheck to paycheck, significantly higher than the global average.
Despite their desires for better work and life balance and the ability to reduce working hours, many Gen Zs (66%) and millennials (57%) have taken on either a part or full-time paying job, in addition to their primary job, to make ends meet.
Fifty-three per cent of Gen Zs and 45% of millennials surveyed in India say they feel stressed all or most of the time and stress levels are even higher among women, LGBT+ respondents, and those with disabilities.
In addition to concerns about their personal finances and the welfare of their friends and family, poor work and life balance and heavy workloads contribute to their stress levels. Respondents are also struggling to disconnect from work, with 37% of Gen Zs and 59% of millennials saying they answer work emails outside of normal working hours at least five days a week. These workplace pressures may also be driving the increased levels of burnout since last year, the survey said.
Eight in 10 Indian Gen Zs and millennials say they have felt anxious about the environment in the past month and roughly the same percentage cite extreme weather events and wildfires as a stress driver.
These concerns impact their decision-making, from family planning and home improvements to what they eat and wear. Respondents are taking a range of actions, such as purchasing an electric vehicle or avoiding driving a car altogether, making their homes more energy-efficient, eating a vegetarian or vegan diet, and avoiding fast fashion in favour of second-hand clothes.
Some are deciding to have fewer or no children to reduce their environmental impact.
Gen Zs and millennials want their employers to help empower them and provide training and support, both to help them make more sustainable decisions in their own lives, and to develop the skills needed for the transition to a low-carbon economy.
More than half (83% of Gen Zs and millennials) say they have already received this training, but it will be essential to scale this learning as it’s estimated that approximately 800 million jobs are vulnerable to climate extremes.
