According to Deloitte’s Global Gen Z & Millennial Survey, 2025 younger employees balance money, meaning and wellbeing to find happiness at work. According to the study, all three elements must be present in order to create a perfect triangle.
1. Living paycheck to paycheck
In a world where AI is threatening junior roles and the future appears uncertain, it’s not surprising that financial security is important. Research shows that this generation chooses careers that seem more secure, like manual labor, rather than jobs that can be done by a Bot. Over half (52%) said they lived paycheck-to-paycheck. In the absence of savings, they can improve their skills, seek more meaning and increase their market value by changing jobs more often.
2. Work that matters is still important
Money is not enough. 89% of Gen Zs, and 92% of the millennials said that ‘purpose’ was important to their job happiness and wellbeing. Last year, I discussed this trend in HRZone. Organisations need to live up to their values. They can’t just put them on the website and then operate by a different agenda.
In evaluating potential employers, 54% Gen Zs and 53% millennials say that meaningful work is important. If they can’t find meaning in their job, they will prioritize money and work-life harmony. They may also use their time to do good outside of the workplace.
We now come to the balance between work and life. Gen Zs and younger millennials are happier with their work-life equilibrium and are more likely than others to report positive wellbeing. This is a key factor in happiness at work.
Deloitte research shows that 34% of Gen Zs, and 40% of millennials feel anxious or stressed most or all of the time. One-third of Gen Zs and millennials say that their jobs are a major cause of their stress.
An important caveat
A word of caution before exploring possible solutions. The idea that generations have different priorities and values in their work and lives is being questioned more and more. When we lump everyone born between two dates together, we make the same sort of generalisations as we would in a horoscope. We can all relate to this, but not everyone?
We are also products of our time. You’ll see tech differently if you were raised in a world where teletext was on TV and there was a phone in the hall. Someone who grew up talking to iChat and sleeping with an iPad will also have radically different views. Children who were raised in the Covid era see life differently than those who spent their early years playing cowboys and guns on the street.
Deloitte’s survey can guide us in determining what is important to our employees today. It is a guide. It can help to spark your curiosity, guide your questions and make you more aware of changing expectations and demands. Don’t make assumptions about your people based on their age.
Let’s explore what could be done to increase the happiness of young employees.
Do not make assumptions about your people based on their age.
Tip one: Prioritise development
Deloitte research indicates that these employees are eager to develop. The previous generations may have been cynical towards training (I can speak from personal experience, as I’ve felt that there were always people on a course or activity I was participating in and running under my suffering!). Today’s younger generation is very interested in learning and developing. Although they don’t want to struggle their way to the top of the career ladder, 70% of Gen Zs report that they develop skills to advance in their careers at least once a week. This compares with 59% for millennials. About two-thirds (or Gen Z) are developing their skills outside of the workplace.
These people will benefit from a lot of training in soft skills and time management. They can also get a lot of practical experience on the job. They will devour the courses if you provide them with the time to attend.
If you want to do this with your younger staff, make sure your leaders are also highly skilled. Gen Z and millennials who are more enlightened will cause tension and dissatisfaction, not less.
70% of Gen Zs claim to be developing skills for their career advancement once or more a week.
Two-fold tip: Deal with the stressors
In the past, it was more important to teach employees how to deal with stress. Now the focus is on addressing the root causes. Examine the working hours, the job role size, targets, and unwritten rules (such as implying that emails must be answered by 10pm even if policy states otherwise).
What behavior is rewarded? Who is deemed most valuable? Who is more valuable? Those who are always available or those who have clear boundaries? Who do you think is more reliable? Who is more reliable? Those who don’t ask for help, or those who want feedback and encouragement from others?
Even though we offer resilience training and mental first aid, we need to question how much we are complicit in a toxic and stressful workplace. Four out of 10 Gen Zs or millennials think managers are responsible for fostering a positive, inclusive workplace culture. However, only 22% Gen Zs and 21% millennials agree.
We need to ask ourselves how we can perpetuate a toxic and stressful workplace.
Three: Protect the entry-level positions
The Gen Zs, Millennials and Generation Y have rethought higher education. They are looking for real-world experiences instead of expensive education, and they feel that the formal knowledge they receive will be obsolete in a few years due to technology changes. AI is making it harder to gain experience, and this can make it even more difficult.
If you’ve never questioned whether a degree is necessary, it’s time to start.
If you choose this route, you could partner with universities to ensure that students get practical experience as part of their degrees and not just theoretical knowledge. Also, offer plenty of opportunities for on-the-job learning, even if it means that people are asked to perform tasks that AI can do. This will help them develop the necessary foundational skills.
Join forces with universities to ensure that students get real-world experience and not just academic theory.
Moving past generational stereotyping
Stop saying that Gen Zs and Millennials are ‘work-shy,’ or lack ambition, just because they won’t sacrifice their health to do their jobs. We may need to redesign the roles to make them more appealing to those who value time and purpose.
Your younger employees care about their work. Work is an important part of their identities. It might not be their fault if they’re unhappy. You could be at fault.
