Deloitte: Rising costs are the biggest problem for 47% of Zoomers and 49% of Millennials

by   CIJ News iDesk III
2022-06-21   18:09

The issue of rising costs of living is the biggest challenge for 47% of Gen Z (so-called Zoomers, i.e. 1995-2003) and 49% of Millennials (also known as Generation Y, 1983-1994) ) in Poland, according to the Global 2022 Gen Z & Millennial Survey report prepared by the consulting company Deloitte.

"The consequences of rising costs of living are affecting the youngest generation more and more. However, this is not a new phenomenon, but a long-term trend. Representatives of generations Y and Z have felt financial instability for a long time. Young generations are also talking more and more about the issue of mental health and Burnout. All these factors are increasingly influencing their career decisions. The importance of talent management is gaining importance. Leaders who want to retain qualified employees should change their way of thinking about them and about the new work model today," said the partner, leader of Deloitte human capital team John Guziak..

The results of the survey show that nearly half of the representatives of both generations feel burnout caused by the growing number of professional duties. At the same time, every fifth Zoomer and every fourth millennial indicated that his employer did not take the phenomenon seriously or did not take any steps to stop it, it was also emphasized.

Every fourth Pole born after 1995 performs more than one job. This percentage is much lower compared to the global results - in global terms, 43% of the 'employees' work in an additional occupation. In the case of the older generation, the number of people working one and a half or more full-time jobs is approx. 1/3 of the respondents, both in Poland and in the world.

According to Deloitte experts, companies that want to be considered an attractive workplace for millennials and zoomers must be ready not only to meet their financial expectations, but also provide support in areas such as professional development or mental health, and take into account expectations about the way work is organized, indicated.

"When choosing an employer, the representatives of the Y and Z generations are guided by many more factors than just finances. Both zoomers and millennials hope that it will meet their expectations regarding building a career in the organization and will help to maintain a balance between private and professional life, m ... through a flexible approach to work organization [...] The employer's openness to mental health issues is equally important, as is the implementation of appropriate supportive solutions," summarized partner in the tax advisory department, talent partner at Deloitte Joanna Świerzyńska.

The Global 2022 Gen Z & Millennial Survey report was prepared on the basis of the answers provided by 14.8 thousand representatives of generation Z, that is people born between January 1995 and December 2003, and 8,400 millennials (born 1983-1994) from 46 countries around the world, including Poland. The survey was conducted at the turn of December 2021 and January 2022.

Source: Deloitte and ISBnews