One-quarter of millennials surveyed by Deloitte have left their employers this year as a result of burnout at work.
Irish millennial and Gen Z employees are more willing than ever to leave their current roles and seek out new opportunities, according to a Deloitte survey of young workers.
More than half (56pc) of Gen Z workers in Ireland and 40pc of millennials said they plan to leave their current roles within two years.
The results suggest that ‘the great resignation’ is permeating the jobs market, with younger workers wanting to leave their roles to seek out better work-life balance, hybrid working opportunities and more attractive working conditions.
Most of the Gen Zs (75pc) and millennials (77pc) who took part in the survey said they prefer hybrid or fully remote work, but less than half currently have the option to do so.
In addition, many of Ireland’s young workers are concerned about the economy and the cost of living. More than half (53pc) of millennials believe the economic situation will worsen in the next 12 months, compared to 36pc of Gen Z workers.
Ireland was one of 45 countries involved in the survey carried out by Deloitte. It had more than 23,000 respondents in total, including 400 young workers in Ireland.
The majority (55pc) of Irish millennials cited the cost of living as being their top concern, compared to 36pc globally. One-quarter of Irish millennials also said they have left their employers this year as a result of burnout at work.
One in three from the Gen Z cohort and one in two millennials said that a better work-life balance is the main consideration when looking at an organisation’s offering in 2022. But three in 10 from Gen Z do part-time work to supplement their income.
Gary Notley, director for human capital at Deloitte Ireland, said this desire for a better work-life balance correlates with an increased focus on mental health.
Nearly half of Gen Z workers surveyed said they feel stressed all or most of the time. Millennial stress levels are also high but are down slightly from last year’s survey.
Employers are making an effort to address workplace mental health issues. More than half of respondents reported that their employer is more focused on workplace wellbeing and mental health since the start of the pandemic.
However, many do not believe the increased focus has resulted in any meaningful impact on employees.
“Globally and in Ireland, Gen Z employees have been most affected by anxiety, stress and mental health issues over 2021 and 2022,” Notley said.
He added that employers need to focus on addressing the concerns of their young workers if they are to retain talent.
“While Ireland did experience ‘the great resignation’, there is however an opportunity to redefine it to the ‘great reimagination’. Organisations can recover and thrive by reflecting, revisiting and reinventing work to better leverage technology, harness the power of workforce and reimagine the workplace.”
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