CEOs should pay close attention to the younger generations

Work-life balance is a must

The internet is full with articles fussing over Gen Z’s relation to workplace “norms”. Other articles state that young workers can not be considered as lazy, but that they are choosing to reject some of the practices that previous generations were forced to accept.

It is clear that younger workers expect and demand more flexibility from their jobs than previous generations. Our Gen Z and Millennial survey 2023 points towards work-life balance being a massive driver in terms of attracting and retaining Gen Zs and millennials.

The younger generations have the power to shape the current workforce as we know it. Therefore, as a part of the C-suite, it is crucial to pay close attention to the demands of current and future employees.

A closer look at the numbers

As a result of broad societal changes around the world, the younger generations share their concerns about their futures. If we take a closer look at some of the hard numbers in the survey, we find that 52% of Gen Zs and 47% of millennials are living paycheck to paycheck, worrying that they will not be able to cover their expenses. This also leads to 57% of Gen Zs and 38% of millennials taking on a part- or full-time paying job in addition to their primary job.

Value-driven but anxious employees

Climate change continuously remains to be a topic of concern whilst actively influencing the lifestyle and career choices of the two generations. Six in ten Gen Zs and millennials state that they have felt anxious about the environment in the past month. More than half of the respondents also say that they research a brand’s environmental impact and policies before accepting a position.

More and more young workers have been reporting feelings of burnout. 41% of Gen Zs and 38% of millennials state that they feel stressed and anxious all or most of the time. In the same connection, 52% of Gen Zs and 43% of millennials feel burned out. Among the Danish respondents in the survey, factors such as their long-term financial futures and concerns about mental health along with intense workloads seem to be the root of the problem.

About the survey

This year, the survey explores the view of 22,000 Gen Zs and millennials from 44 countries across the world. Among the total number of respondents, 701 Danes have contributed to the survey. The survey aims to examine the two generations’ relationship with work, and how they continue to make lifestyle and career decisions based on their values and underscores continuing concerns about finances, climate change and mental health.

If you want to read the full survey, you can find it here.