A recent survey focused on Gen Z and?millennials, conducted by Deloitte, has revealed that?more and more?youngsters?are now taking on second jobs to tackle the high cost of living.
About?46 percent of Gen Zs and 37 percent of millennials have taken on either a part-time or full-time paying job?in addition to their primary job.
Nearly half of Gen Zs interviewed for the survey felt more concerned about the high cost of living, followed by unemployment and climate change. The high cost of living is the top societal concern of Gen Zs, who say they live paycheck to paycheck, and growing numbers are taking on side jobs to address financial concerns, according to Deloitte's 2023 Gen Z and Millennial Survey.??
All this has postponed their big life decisions like buying a house or starting a family, and they have adopted behaviours that save money, such as buying second-hand clothes or not driving a car.
For the uninitiated, Gen Zs?are people who were born between the late 1990s and the early 2010s, while?millennials?are those born in the 1980s or 1990s.
The Deloitte Global 2023 'Gen Z and Millennial Survey' is based on the responses of 22,856 respondents, of whom 14,483 were Generation Zs and 8,373 were Millennials, from 44 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa, and Asia Pacific. This report includes responses from 800 respondents from India.
Also Read:?Millennials?Are Most Worried About Their Personal Finances: Survey
While 49 percent of Gen Zs and 62 percent of millennials said work is central to their identity, work-life balance is something they are striving for, the survey revealed.?Having a good work-life balance is the top trait they admire in their peers and their top consideration when choosing a new employer.
Gen Zs and Millennials?would like to see their employers offer better career advancement opportunities for part-time employees, more part-time jobs overall, and the option for more flexible hours for full-time employees, the Deloitte report said, as per the PTI report.
It also said that Gen Zs and millennials valued?remote and hybrid work?and saw its benefits, as three-quarters of respondents, who are currently working from home or in hybrid roles, would consider looking for a new job if their employer asked them to go on-site full-time.
Also, 46 percent of Gen Zs and 39% of millennials said they felt stressed or anxious at work most of the time, the survey stated.
Also Read:?85 Lakh?Millennials?Started Investing In Mutual Funds In Last Five?Years
Their longer-term financial future, day-to-day finances, and the health and welfare of their families are top stress drivers, while concerns about mental health and workplace factors such as heavy workloads, poor work/life balance, and unhealthy team cultures are also at play, it said.?Gen Zs and Millennials are also reporting increasingly high levels of burnout due to work-related pressures.
For the latest and more interesting financial news, keep reading?Indiatimes Worth.?Click here