A new MetLife study reveals a concerning trend: Generation Z is facing a significant decline in holistic well-being, struggling more than any other generation. Only one in three Gen Z workers feels truly healthy, physically, mentally, and financially. This marks a 10% drop compared to the average employee and a 6% decline from last year, widening the gap between them and the healthiest generation—Baby Boomers. The report, “Not Exactly Working for Gen Z,” examined the holistic health of various generations in the workforce, and paints a troubling picture of a generation overwhelmed by mounting pressures.
The study pinpoints financial stress as a major contributor to Gen Z’s struggles. Rising costs of living, limited entry-level wages, and the pressure to save for major life expenses like housing and education are taking a heavy toll. This financial strain manifests in high levels of stress, burnout, depression, and isolation. Reportedly, 38% of Gen Z workers feel they’re experiencing a “midlife crisis” due to financial challenges, and some are even turning down jobs they can’t afford.
Beyond the financial woes the report highlights, Gen Z employees report feeling less engaged, successful, and happy in their roles compared to previous years. Anxiety and overwhelm are pervasive, impacting productivity and job satisfaction. This disengagement poses a serious concern for employers, as it can negatively impact workplace morale and overall performance.
To address these challenges, employers must go beyond traditional benefits. Offering targeted support like student loan repayment assistance, childcare subsidies, and improved mental health resources is crucial. However, simply offering benefits isn’t enough. Clear communication and ensuring employees understand and utilize these resources are essential for maximizing their impact.
The MetLife study serves as a critical reminder that ignoring the unique needs of Gen Z will have detrimental consequences. By prioritizing their holistic wellbeing, employers can create a more supportive and inclusive workplace, fostering a thriving and engaged workforce for the future.
Disclaimer: The views expressed in this article are those of the author/authors and do not necessarily reflect the views of ET Edge Insights, its management, or its members
