Young workers worldwide are facing higher levels of stress, financial concern and reduced workplace satisfaction and growth amid the global move towards flexible and remote working arrangements, revealed a survey by health insurance firm Cigna International.
Titled Exhausted by Work – The Employer Opportunity, the survey found that over 97% of 18 to 34-year-olds are burned out, 51% of them do not feel fully present or engaged in their work, and 40% are worried by the rising costs of living.
In addition, over half of respondents say work feels transactional. Some 20% of younger workers have also noted that a lack of learning and development opportunities is also causing them stress.
Michelle Leung, HR Officer at Cigna International Markets, said, “Business leaders must not become complacent in this new flexible workplace era. Remote work shouldn’t mean less opportunity, growth, or sense of belonging for younger people.”
Failure to address these issues may result in a significant loss of talent. Up to 73% of 25 to 34-year-old millennials and 71% of 18 to 24-year-old Gen Zs are spending more time evaluating their priorities than they were two years ago. And in a time of economic uncertainty, Cigna’s research indicates 48% of 18 to 34-year-olds are looking for new jobs.
Jason Sadler, President for Cigna International Markets, added, “All over the world, the younger generation has been most impacted by the changes in workplace culture. While they welcome the move to flexible working models, they need support to adapt to the new work culture.”
This article was first published on HRM Asia.