A new survey provides insight into the thinking of millennials and Gen Z-ers who are leaving their jobs in record numbers, according to CNBC.
Great resignation: Millions of Americans, including many millennials and Gen Z-ers, have quit their jobs over the past year.
- A record 4.5 million people walked away from their jobs in March alone.
The data: According to the Deloitte Global 2022 Gen Z and millennial survey, 40% of Gen Z-ers and 24% of millennials would like to leave their jobs within two years.
- About one-third of the millennial and Gen Z respondents said they would quit their job if another opportunity came up.
Why: Pay was the top reason millennials and Gen Z-ers left jobs in the past two years.
- Younger workers cited the negative effects of their workplaces on their mental health as the second biggest reason. Forty-six percent of Gen Z-ers and 45% of millennials said they felt burnt out by their work environment.
Choosing an employer: Among the top reasons millennials and Gen Z-ers chose to work for their current organization were a good work–life balance, learning and development benefits, salary, opportunities to progress and the meaningfulness of the work.
- Millennials and Gen Z-ers have proven themselves willing to turn down job offers that do not align with their values. “The expectations of business to drive societal change and environmental change have never been higher,” said Deloitte Global Deputy CEO Michele Parmelee.
Employer action: “Companies are looking to add flexibility around hours worked and location.”
- “Some 43% of companies are offering hybrid models, PWC’s Pulse Survey of C-suite executives found.”
- “Benefits focusing on financial and mental wellness are becoming more popular, and other perks like four-day workweeks, sabbaticals, and work-from-anywhere are popping up.”