42% reported workplace tiredness and stress, largely due to the “great resignation” of the COVID-19 pandemic. As people left their jobs for greener pastures, millennial managers were left footing the bill. This led to overwork as they struggled to fill open positions and balance added responsibilities.
Generation Y is Needy and Opinionated
Common complaints with older generations about millennials in the workplace are that they're whiny, entitled, and require too much nurturing. With that being said, millennials do desire engagement from their employers. However, leaders shouldn't mistake this for being too needy.
So, what are the top three factors causing millennials this much stress? Of those surveyed, 74 percent of millennials report that their finances and debt are causing them to burn out, while 65 percent said work tension is the cause and 56 percent blame trying to find the right work-life balance.
Inflation is the top problem Gen Z and Millennials name as the biggest they are facing today. Over-dependence and addiction to technology ranked second as the top problem among young people for the first time. However, racism and COVID-19 are still top concerns for these gens.
Work is the biggest cause of stress for millennials, while relationships and breakups are the single largest source of stress for GenZ, the second Mental Wellbeing study by ITC Fiama in collaboration with NielsenIQ released on World Mental Health Day has revealed.
The New York Times cites that they've been called, “narcissistic, lazy, and indecisive. Millennials have been labeled the boomerang generation for the many unable or unwilling to leave their parents' home, or even more negatively, the Peter Pan generation because they supposedly won't grow up.”
One-third (32%) of Gen Z respondents say they are the hardest-working generation ever, with Millennials ranked as the second-hardest working generation at 25%. More than half (56%) say the Silent Generation is the least hardworking generation of all time.
After conducting original research, we have found that millennials' challenges stem from a conflict between their desires and attainable goals. Our societal expectations have created tension for millennials who struggle to find ways to act like adults when financial pressures cause them to feel much more like children.
Burnout is a type of work-related stress. It is not a medical diagnosis, but some doctors believe that there are underlying conditions, such as depression, that can impact how an individual feels burnout. Millennial burnout is part of the change in the way people work.
42% reported workplace tiredness and stress, largely due to the “great resignation” of the COVID-19 pandemic. As people left their jobs for greener pastures, millennial managers were left footing the bill. This led to overwork as they struggled to fill open positions and balance added responsibilities.
Dr Singh added that millennials are experiencing higher levels of mental and physical weariness than other age groups. “Burnout can be caused by a variety of factors, including longer work hours, stagnating salary, and rising debt.”
Why Millennials Lack Soft Skills. The younger generation's strength is partly to blame for its weakness. Because Millennials are so proficient and reliant on technology, many of them haven't properly developed other skills apart from working on digital devices.
Almost two in four members of younger generations would prefer being unemployed than work in a job they don't like, the study found. Most of the young people surveyed said they preferred to work at companies that shared their personal values.
Millennials have a different work ethic
It's a common stereotype that millennials don't have as strong of a work ethic as older employees. However, work ethic isn't dependent on age but on personality.
For about 61% of millennials, one of the main reasons they cite for not having kids is that they simply can't afford to. That's the top reason among 44% of the overall U.S. population, by comparison.
As a result, more millennials than ever report being happy. That's especially true compared to the Baby Boomers, which the Pew Research Center labeled the “gloomy” generation. Baby Boomers tended to rate their overall quality of life much lower than non-boomers.
Coming from a world where the economy was thriving and opportunities were booming, baby boomers tend to be driven in terms of their work ethic. Many people in this generation had an opportunity for a career and a university education, unlike their counterparts earlier in history.
Recent surveys show that Millennials place a higher priority on health and wellness than any other generation, including the oldest Americans, and the importance that Millennials give to a healthy lifestyle has increased more dramatically than other generations over the past decade.
Millennials, the generation that includes those born between 1980 and 2003, are commonly described as lazy, poorly prepared and without aspirations.