🙇Generation Stress: Decoding the Work-Life Paradox of GenZ

👋 Welcome to this week’s edition!

We’re going to cover:

• 📈 GDP and time at work: their correlation

• 🤦 Levels of stress at work by Generation

• 🔧 Main challenges and solutions for GenZ

• 🎤 Personal story and perspective from a GenZ workforce futurist

Let’s dive in! 👇

In an age of unprecedented technological advancement and economic growth, why is the younger generation more stressed about work than ever before?

📈 The GDP and Work-Time Paradigm

Both Tesla and economist John Maynard Keynes once predicted a decline in traditional work patterns. Given the -25% drop they witnessed in the working week, their predictions seemed valid.

As nations' GDPs grow, workers usually attain greater economic freedom, often prioritizing leisure over work. This isn't just a Western trend; workers in countries like China and India reflect similar attitudes. The takeaway? A wealthier world causes a shift from survival mode to a search for more meaningful employment.

🤦 GenZ hasn’t been educated to deal with current levels of ambiguity and stress

So shouldn’t this translate into lower levels of stress?

An intriguing statistic reveals that Gen Z stands as the most stressed-out working generation, with 84% expressing work-related stress. This generation juggles the paradox of perceiving work as less crucial while navigating one of the most volatile socio-economic terrains in recent history. This duality forces them into a constant oscillation between personal and professional priorities.

Unfortunately the graph above (from a recent study by Bain) stops at 2019, but we’ve seen other research showing that the trend continued upwards in 2020-2023 (a survey by Cigna International Health in 2023 found that 91% of Gen Z reported feeling stressed, compared to 84% on average for all workers).

💡 GenZ main challenges…and potential solutions

So what are the main challenges this generation is facing, and what solutions could both workers and employees look at implementing?

📚 Education

Challenge: The growing cost of College degrees saw the rise of debt. Plus, a winner-takes-all dynamic is emerging, with a few graduates harvesting most of the ‘return on education’.

Solution: A recent stat identified that a whopping 40% of current roles don't need a degree. This trend will likely increase, with essential skills sourced from affordable online courses and in-house company training.

💰 Economic Impact

Challenge: Gen Z is struggling with broader economic hurdles too (inflation, rise of home ownership costs) with many unable to reach milestones like home ownership and ending up living from paycheck to paycheck.

Solution: A rising number of workers will pivot to side hustles or entrepreneurship, seeking innovative earnings models, as briefly touched upon in the 'X-to-Earn' models.

🤝 Interpersonal Challenges

Challenge: Gen Z faces work's evolving social dynamics – from forming work friendships to setting professional boundaries. The oscillation between remote and office work is likely worsening these challenges, with many companies still trying to figure out how to address it long-term.

Solution: Tackling this will need companies to overhaul almost all of their tools and cultures. On an individual level, regular and effective work on mental health becomes even more important.

🚫📋 Lack of Preparation and Unemployment

Challenge: Youth unemployment rates are a staggering 37% in Spain, 29% in Italy, and 19% in France. This is not just an economic issue but also highlights the widening gap between academic institutions and workplaces.

Solution: New solutions (like Pathrise) are addressing this, offering job placement and career guidance services to help bridge this gap.

⏳ Long-Term Impact and the Great Resignation

Challenge: Stress and burnout has a direct effect on Gen Z's job performance, career trajectory, and we’ve seen how it can end up even in job resignations.

Solution: The responsibility and effort is mostly going to be on companies to revise their talent strategies and prioritize employee mental well-being, in a meaningful way - not just with the implementation of a few new tools.

Gen Z is becoming the workforce's backbone and their stress and potential disconnect might trigger broader economic and societal repercussions yet to be seen. The shadows of the financial meltdown from a decade ago are still being felt, and forthcoming challenges like caring for elderly populations, pandemic-induced public debt, and climate change are daunting to say the least.

The irony? This generation, despite being the most technologically enabled, instead of being better off, faces a myriad counterforces making the journey even tougher.

📣 A Chat with Workforce Futurist, Speaker, Gen Z Expert, Danielle Farage

Which better way to complete this picture than hearing the voice of a GenZ?

Recently, I had the privilege of sitting down with Danielle Farage, a prominent Gen Z Workforce Futurist, Speaker, Gen Z Expert - here’s her story and point of view on the future ahead.

👶 The Genesis: Childhood Observations

From as young as 7, Danielle engaged in her 'pretend workplace' games. What truly piqued my interest was her candid reflection on witnessing her siblings' job dissatisfaction. Overworked, undercompensated, and disheartened by toxic company cultures, they became unintentional catalysts in her journey. This spurred a crucial question for Danielle: shouldn't work be a source of fulfillment rather than discontent?

Driven by this curiosity, Danielle chose to study Psychology and Social Sciences, aiming to bridge the gap between personal aspirations and corporate objectives.

🦠 Pandemic Woes: Revealing the Unseen

While Danielle's initial in-person internship seemed promising, the shift to remote work during the pandemic unmasked a previously unnoticed toxicity in her work environment. Juggling professional challenges with personal dilemmas, like the loss of traditional college experiences, took a toll on her well-being.

Yet, every cloud has a silver lining. A new opportunity led Danielle to an organization that truly valued diversity, inclusivity, and employee welfare. The profound difference between her two work experiences pushed her to become champion for a more humane and understanding corporate world.

💎 HR Tech and Advocacy: Melding the Modern with the Human

Transitioning into the HR tech sector, Danielle wasn't just another marketer; she tried to be an innovator. From spearheading virtual conferences that focused on the confluence of human touch and automation to launching a podcast demystifying automation benefits, she was at the forefront of meaningful change.

Interacting with industry key players and influencers, Danielle crystallized her belief: The Gen Z voice wasn't just valuable; it was essential in sculpting the work landscape of tomorrow.

🌎 Linking Climate and Corporate: A GenZ Insight

Danielle's active engagement on platforms like Clubhouse and LinkedIn amplified her perspective. While she refrains from labeling herself as a spokesperson for all Gen Z, her insights offer a refreshing perspective on how younger minds view work.

She articulately links the sentiments of betrayal felt by her generation—owing to perceived inaction on critical issues like climate change—to their expectations from workplaces:

I think Danielle’s narrative serves as a reminder of how personal experiences often shape professional trajectories. As the concept of 'work' changes deeply, the inclusion of these perspectives isn't merely beneficial—it's indispensable.