The 12th edition of Deloitte’s Gen Z and Millennial Survey took a deeper look at how the last three years have impacted these generations in the workforce. Analyzing the responses of 22,000 individuals in 44 countries, the study revealed that, while progress has been made, these generations view their work as not having met their expectations for their desired work-life balance. Only 34% of Gen Z and 31% of Millennials are very satisfied with their current work-life balance.
Gen Z and Millennials are also dealing with inflation and a higher cost of living which has led more than half of both age groups, 51% and 52% respectively, to live paycheck to paycheck, and 46% of Gen Z and 37% of Millennials have taken on a paying side job to help make ends meet—even though both desire better work-life balance and the option to reduce working hours.
These generations are also facing persistent stress and potential burnout, as 46% of Gen Z and 39% of Millennials said they feel stressed all or most of the time, and 23% and 30% respectively are struggling to disconnect from work, answering emails outside of normal working hours at least five days a week.