Work, Mental Health and Finance Concern Gen Z and Millennials, Survey Finds | work and career

Generation Z, the name given to people born between 1995 and 2003, and millennials, those born between 1983 and 1994, feel deeply concerned about their own future, according to research carried out by Deloitte.

The two generations in Brazil are less likely to leave their current jobs in the next two years – 36% of Gen Z (last year it was 49%) and 28% of millennials (last year it was 34%).

On the other hand, 30% of Brazilians from generation Z (22% in 2021) and 41% of millennials (39% in 2021) intend to stay more than five years in their current jobs.

Salary dissatisfaction (17% of Gen Z and 28% of millennials) and lack of learning and development opportunities (16% of Gen Z and 10% of millennials) are the top reasons they are leaving their jobs.

However, when choosing a new company to work for, the question of development opportunities comes first (37% Gen Z / 41% millennials), while receiving a better salary, the main reason for leaving a company, comes last. position (19% Gen Z / 20% millennials).

The survey was conducted by Deloitte of 14,808 Gen Z people and 8,412 millennials (23,220 respondents in total) from 46 countries. In Brazil, 801 people were interviewed, 500 of which were from generation Z and 301 millennials, between November 24, 2021 and January 4, 2022.

The survey also points out that millennials in Brazil are more likely than the global average to feel financially secure (55% Brazil versus 46% globally) and confident that they will be able to retire comfortably (53% Brazil versus 41% globally).

Generation Z in Brazil is more in line with the global average – 40% of Brazilians and 40% of global respondents feel financially secure, while 39% of Brazilians and 41% of the global average believe they will be able to retire.

Despite this, both generations in Brazil are more likely to live off the monthly salary than the global averages – unreservedly and afraid that the salary will not be enough to cover all expenses and extra expenses – 56% of respondents from Generation Z and 57% of millennials say they live in this situation. The global averages fall, respectively, to 46% and 47%.

Therefore, many are taking on side jobs (39% of Gen Z in Brazil versus 43% globally and 38% of Brazilian millennials versus 32% globally).

The main extra jobs done by the two generations in Brazil are:

  • selling products or services through digital platforms (21% of Gen Z and 26% of millennials)
  • digital influencer (18% of both generations)
  • working in non-profit organizations (18% of Gen Z and 22% of millennials)

Preference for hybrid work

More than half (51%) of Brazilians belonging to generation Z and almost half of millennials (48%) work in person. However, the majority of respondents of both generations (65% of Z and 63% of millennials) prefer a hybrid model of work.

Those who have had the opportunity to work remotely cite benefits such as allowing them to see their family more often, giving them time to do other things they enjoy, and helping them save money.

“These two generations have been greatly impacted in recent years, especially when it comes to work. Since 2020, they have experienced new ways of working, experimenting first with telecommuting and later with the hybrid model. All these elements brought about by the Covid-19 pandemic transformed the perception of these audiences and their relationship with work”, says Dani Plesnik, Talent & Culture leader at Deloitte.

Burnout and anxiety increase

According to the research, anxiety increases among Gen Z and decreases among millennials, but burnout is present in both generations.

Stress and anxiety levels have increased slightly for Gen Z in Brazil (from 54% last year to 56% in 2022), but dropped for millennials (from 52% to 47%). Women of both generations, both in Brazil and abroad, responded that they feel more anxious, all the time or most of the time.

In Brazil, the long-term financial future (62% Gen Z and 50% millennials), day-to-day finances (57% of Z and 46% of millennials), mental health concerns (53% and 47% , respectively) and work/workload (35% and 26%) are the main factors that generate stress and anxiety.

Burnout levels are significantly higher in Brazil than the global average: here, 59% of Gen Z respondents and 58% of millennials say they feel burnt out because of the intensity and demands of work. The global averages are 46% and 45%, respectively.

Many respondents say they have recently left their organizations due to pressure from their workloads: 50% of Gen Z and 51% of millennials, up from 44% and 43%, respectively, of the global rate.

Approximately two-thirds of two generations in Brazil (66% of Gen Z and 68% of millennials) believe their employers are more focused on mental health in the workplace after the pandemic began, but more than half do not believe this has resulted. any significant impact on employees.

Three in 10 Gen Z and Millennials are uncomfortable talking to their managers about stress or other mental health issues. About a quarter took time off from work due to stress, but more than half did not tell their employer why.

Millennials were slightly more likely to feel comfortable telling their employer when they needed time off due to stress or mental health reasons.

Priorities in leadership

If they were in charge of companies, Brazilian Gen Z respondents would prioritize initiatives such as:

  • promote solidary leaders (18%)
  • allow employees to work flexible hours (18%)
  • allow professionals to work remotely if they prefer (16%)
  • experience a shorter work week (11%)
  • create more part-time job openings (10%)

Brazilian millennials would prioritize, in this order:

  • allow professionals to work remotely if they prefer (19%)
  • allow employees to work flexible hours (18%)
  • experience a shorter work week (13%)
  • promote solidary leaders (12%)
  • create more part-time job openings (11%)

main concerns

Compared to last year, both generations are more optimistic in Brazil regarding the economic and socio-political situations in the next 12 months. As for the economic situation, 56% of Gen Z respondents and 61% of millennials believe it will improve in the next 12 months – last year those numbers were 39% and 50%, respectively.

Regarding the socio-political situation, 51% of Gen Z and 60% of millennials believe it will improve over the same period – in 2021, the numbers were 32% and 44%, respectively.

Brazilians are much more optimistic than global averages: only 28% of Gen Z respondents and 28% of global millennials believe in an economic improvement. And the numbers are even lower when asked about the sociopolitical situation – 24% of Gen Z and 25% of millennials.

Brazilians of both generations are more likely to think that business has a positive social impact compared to their global peers. Here, 45% of Gen Z and 60% of millennials believe so, while global averages are 45% and 44% respectively.

However, similar to global averages, this sentiment has been slowly decreasing over the years.

The main concerns between generations in Brazil are:

  • unemployment (33% of Z / 31% of millennials)
  • personal safety/criminality (24% of Z / 27% of millennials)
  • cost of living (23% of Z / 25% of millennials)
  • concern about climate change and protecting the environment (22% of Z / 19% of millennials)
  • income inequality (highlighted by 24% of millennials)
  • concern about sexual harassment (highlighted by 21% of Gen Z)

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She's our PC girl, so anything is up to her. She is also responsible for the videos of Play Crazy Game, as well as giving a leg in the news.

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