Almost all employees face economic insecurity as well as professional stress. Nonetheless, the Gen Z workers may be under the most pressure.
Because of the recent uncertainty, upheaval, and turmoil, workers are concerned. And now, as layoffs continue to rise and wages fail to keep up with growing inflation, they are concerned – in some cases, more than ever.
Although the global pressure of what some call a “permacrisis” impacts workers of all ages, many researchers and experts feel that Generation Z is the most stressed cohort in the workplace overall. Diving into their employees in recent years has put them in extraordinarily difficult situations, with some having only recently entered the labor during the pandemic. According to a Cigna International Health study of almost 12,000 workers worldwide performed in 2023, 91% of people aged 18-to-24 report being stressed, compared to 84% on average.
According to studies, Gen Z is the most stressed-out generation in the workplace, failing to cope. Uncontrollable stress affects more than a quarter of Gen Z respondents (23%), and nearly all (98%) are suffering from burnout symptoms, according to the same figures.
In short, younger workers are the most challenged by the requirements of professional life. So, what is the situation?
A ‘fortuitous’ confluence for Gen Z
Although the tremendous fear generated by the Covid-19 pandemic has abated, most workers are still on edge about 2023.
Even though many employees, particularly knowledge workers, recognized the benefits of a more flexible approach to working, many employers are altering course and demanding a full return to the office. As a result, economic insecurity prevails, and thousands of individuals are being laid off or are terrified that they may be next.
Economic challenges are also aggravating workplace issues dramatically. The cost of living is causing stress and worry in 84% of UK workers, according to findings from a 2023 analysis by HR software company Workhuman. Similar patterns exist worldwide, including in Ireland, the United States, and Canada.
Even though these concerns are universal, Generation Z is the most afflicted. According to McKinsey and Company data from October 2022, employed Gen Zers were more likely than other respondents (26% versus 20%) to believe that their current pay did not allow them to have a “good quality of life” in the current economy. These effects can be seen: Generation Z saves significantly less money, and many people live paycheck to paycheck. They are also struggling more than past generations to accomplish major milestones, such as home ownership; in the United States, 34% of Americans still need to own a home and have no intention of ever doing so. Yet, young people are more likely to have these sentiments (59% of 18-to-24-year-olds versus 29% of 29-to-34-year-olds).
According to experts, young workers suffer from interpersonal relationships and larger-scale issues. “There are still a lot of questions about office friendships, working clothes, and professional boundaries,” Filby adds. She claims that working environments can cause tension and anxiety in younger employees, but many young people find it difficult to enter an office, engage, and be managed. The social aspects of employment remain terrifying.
Overall, the stressors have resulted in a bad work experience. In addition, according to research, Gen Z workers confront more obstacles than the general population, such as unfriendly work environments, mental- and physical health concerns, and the inability to express themselves at work.
‘It is not surprising’
Filby believes that Gen Z is nervous because of the unusual circumstances in which they began their employment.
Many university-aged Gen Zers were forced to complete their degrees in fully virtual, isolating learning environments during the pandemic, only to transition into a precarious economic situation and unusual workplace conditions, complete with the threat – and, in many cases, the reality – of furlough or redundancy. Furthermore, even if they have a few years of work experience, junior employees are less likely to form meaningful relationships with their coworkers and crucial mentors.
According to LinkedIn Career Advisor Andrew McCaskill, founder of The Black Man in Marketing magazine, the start-and-stop nature of return-to-work has further exacerbated the situation.
In many cases, these limits have hampered Generation Z’s professional advancement, which weighs on them.
Furthermore, research indicates that young people often need to be more equipped for the job. According to LinkedIn figures from December 2022 shared with BBC Worklife, 18-to-25-year-olds have the least confidence in their current career or role. Only 43% of Generation Z are extremely confident in all aspects of their job, compared to 59% of Millennials, Gen X, and Boomers.
Furthermore, according to data from a 2022 global poll of over 10,000 workers conducted by the work-management platform Asana, a disproportionately greater percentage of Gen Z respondents reported being unable to switch off from work. According to McKinsey data, young people are more concerned about job security than any previous generation, with 45% of Gen Zers concerned compared to 40% of all respondents.
By 2025, Generation Z will comprise 27% of the OECD workforce and one-third of the global population. But, according to experts, if most people are too stressed to work, the repercussions will be terrible – economically, socially, and in various other ways.
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On the other hand, taking the burden off the youngest workers is a puzzle that experts say has no obvious solution because the contemporary economy is evolving.