Four in 10 millennials and Gen Zs stressed 'all or most of the time'

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More than four in ten Irish millennials and Generation Zs feel stressed “all or most of the time", with family welfare, finances, and job prospects the main stress drivers, according to Deloitte’s Global 2021 Millennial and Generation Z Survey.

The study revealed that about a third of all respondents globally — 31% of millennials and 35% of Gen Zs — have taken time off work due to stress and anxiety caused by the pandemic.

However, nearly half of this group did not tell their employer that the reason for their absence was related to stress or their mental health.

Millennials included in the study were born between January 1983 and December 1994. Generation Z respondents were born between January 1995 and December 2003. 

Almost 23,000 respondents from 45 countries participated in this year's survey, including more than 400 respondents in Ireland. 

Here, 68% of millennial respondents said they have not spoken openly to their employers about feeling more stressed and/or anxious since the pandemic started, while 38% said their employers have done a poor job supporting their mental health during the pandemic. This figure rose to 41% amongst Irish Gen Zs.

“Fostering open and inclusive workplaces where people feel comfortable speaking up about stress, anxiety, or other mental health challenges they are experiencing is critical,” said Deloitte Ireland's human capital partner Valarie Daunt.

Employers have a responsibility to create a work environment that supports employees’ mental health and wellbeing and allows them to thrive.”

The survey also found that the pandemic has heightened millennials’ and Gen Zs’ uncertainty about their financial futures. Two-thirds of all respondents globally said they “often worry or get stressed” about their financial situations.

However, 32% of millennials and 42% of Gen Zs in Ireland said they believe their personal situations will improve after this year.

Deloitte Ireland CEO Harry Goddard said the annual survey repeatedly showcases these generations' idealism, their desire for a better world, and their belief that business can and should do more to help society.

"Just over four in 10 Irish millennials and just over five in 10 Irish Gen Zs have made choices on the types of work they’d do and the organisations they’re willing to work for based on their personal beliefs/ethics over the past two years," he said.

From our vantage point, we can see that businesses are increasingly recognising how their role and responsibilities need to evolve to address these wider issues. Enhanced action and communications with these cohorts will be hugely important in this regard.

"Furthermore, we have seen lower level of job loyalty emerge in this year’s survey — more millennials and Gen Zs would like to leave their employer within two years compared with last year.”