According to a survey by Deloitte Global's 2022 Gen Z and Millennial Survey released on July 5, 48% of Filipino millennials and 68% of Gen Z reported anxiety most or all the time, up by two percentage points and one percentage points, respectively, from last year’s levels.
When asked what contributes to their stress and anxiety levels, over 60% of Filipino millennial and Gen Z workers point to four issues: long-term financial future, day-to-day finances, concerns about their mental health, and family/personal relationships.
Meanwhile, the same survey also said that over 50% of millennials and 40% of Gen Zs expect that the economic and socio-political conditions in the country will improve in the next months.
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The survey was conducted from November 2021 to January 2022 with a total of 23,220 respondents from 46 different countries, with 300 Filipino Gen Z and 100 millennials participating.
According to Deloitte's study, they define Gen Z as those born between January 1995 to December 2003, and millennials born between January 1983 and December 1994.
Deloitte Philippines’ managing partner and chief executive officer, Fredieric B. Landicho, in a statement said that the stress and anxiety among these groups will most likely not ease in the near future due to adverse economic conditions aggravated by the pandemic.
Landicho also urged business leaders to lend support to their millennial and Gen Z workers in the workplace, as the survey also found 70% of Filipino Gen Zs and 63% of Filipino millennials are getting burned out due to heavy workloads, while 58% of Filipino Gen Zs and millennials revealed that some of their colleagues have resigned because of work-related stress.
“It appears that our youngest work colleagues in particular have a lot weighing on their minds, which is not surprising considering the circumstances surrounding their milestones,” Landicho said.
Deloitte also found out that 74% of Filipino Gen Z and millennials that focusing on mental health have had no meaningful impact on them, and 27% of Filipino Gen Zs and 21% of Filipino millennials said that if they were in charge, they would foster supportive leaders through mental health-related training and improvement on work-life balance as top priority.
“The mental health talks, the free yoga or meditation sessions that organizations rolled out to help people manage their anxiety at the height of the pandemic may have helped workers up to a point, but it appears it’s not enough,” Landicho said.
Meanwhile, the top concern for Filipino Gen Zs is the cost of living, while unemployment for Filipino millennials.
“Juggling more than one occupation, while probably necessary for millennials and Gen Zs to meet their financial obligations, could also be contributing to their stress, anxiety, and feelings of being burned out,” the survey said.
Marvin Joseph Ang is a news and creative writer who follows developments in politics, democracy, and popular culture. He advocates for a free press and national democracy. The views expressed are his own.
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