According to research conducted by Deloitte, "financial anxiety is widespread among Gen Zs and millennials. They are worried about their day-to-day finances and fear they won't be able to retire comfortably. To address financial concerns, they are actively exploring new working models to widen their income."
"Saving money—on expenses like commuting, clothes, dry cleaning, and more—is one of the top reasons that many Gen Zs and millennials prefer hybrid or remote work. A smaller percentage are taking advantage of remote work to relocate to less expensive cities. This appears to be a growing trend; roughly 15% of Gen Zs and millennials say they've done so this year, up from the 9% of respondents in last year's survey who said they'd temporarily or permanently moved out of a major city," found this study.
"40% of Gen Zs and nearly 25% of millennials would like to leave their jobs within two years, and roughly a third would do so without another job lined up, signaling significant dissatisfaction levels," continues Deloitte. Discover more stats about these generations' work and financial concerns with the latest 17th Floor Infographic.
What can employers do to attract and retain young talent to face the Great Resignation? Tell us in the comments section below.
Other The 17th Floor articles you might find interesting: