Millennials are increasingly prioritizing financial security over happiness in their jobs. A recent poll of nearly 35,000 workers worldwide found that only one in four millennials (24-34 years old) prioritize daily enjoyment of their work, compared to 45% of baby boomers over 55.
The survey, conducted by payroll services company ADP, also revealed that 56% of millennials prioritize salary, while only 44% of 18-to-24-year-olds do. In contrast, Europeans tend to favor day-to-day enjoyment at work and job security more than North Americans.
This trend is attributed to years of economic turmoil, including the financial crisis, pandemic, high inflation, and rising interest rates. As a result, young workers are willing to trade in their personal happiness for long hours and financial stability.
Research suggests that millennials are struggling to find meaning in their careers due to financial insecurity. A study by the Thriving Center of Psychology found that 81% of millennials feel too poor to have a typical midlife crisis defined by splurges on unnecessary items or taking up unusual hobbies.
Experts attribute this trend to the emphasis placed on hard work and career advancement during millennial formative years. As a result, many are left wondering if they are satisfied with their jobs and what brings them purpose.
While flexibility is becoming increasingly important for younger workers, 16-to-24-year-olds are the least likely to care about flexible work arrangements compared to baby boomers over 55. However, remote workers are more anxious about job security and feel monitored by their bosses.
Employers must establish clear standards for off-site work and communicate them clearly to nurture trust among employees.
Source: https://fortune.com/europe/article/millennials-gen-z-given-up-fulfillment-work