According to Deloitte’s Global Gen Z and Millennial Survey 2025, younger employees are balancing money, meaning, and wellbeing when it comes to finding happiness in their work. The study suggests all three must be present to create the perfect triangle.
1. Living paycheck to paycheck
It’s no surprise that financial security matters in our fast-changing world, where junior roles are threatened by AI and the future seems uncertain. The research shows that these generations are choosing careers that appear more secure like manual labour rather than jobs that a Bot can do. More than half (52%) of survey respondents state they live paycheck to paycheck. With a lack of savings, switching jobs more frequently allows them to enhance their skills and seek greater meaning, while also boosting their value in the market, and, consequently, improving their salary.
2. Meaningful work still matters
But money isn’t enough. 89% of Gen Zs and 92% of millennials say ‘purpose’ is important to their job satisfaction and wellbeing. I wrote last year about this trend on HRZone: organisations need to be true to their values and not just stick them on their website while operating by another agenda.
When evaluating a potential employer, 54% of Gen Zs and 53% of millennials say meaningful work is very important. If they don’t find it in their work they will prioritise money and work-life balance, using their time to make a difference outside of work.
3. Work-related stress persists
This brings us to work-life balance. Gen Zs and millennials who are happy with their work-life balance are more likely to say they have positive wellbeing, and that is a major contributing factor to happiness at work.
Deloitte’s research finds that 40% of Gen Zs and 34% of millennials are anxious or stressed all or most of the time. And one-third say their job contributes significantly to their stress levels.
An important caveat
Before exploring potential solutions, a word of warning. Doubt is increasingly cast over the well-worn idea that different generations bring different values and priorities to their lives and work. Like any generalisation, when we put everyone born between two dates into a single category we find ourselves making the same sorts of sweeping statements as you might find in your horoscope. Yes, we can relate… but wouldn’t everyone?
At the same time, we are a product of the time we live. If you were raised with a house phone in the hallway and teletext on the TV you’re going to view tech differently than someone who was raised talking to their chatbot and going to bed with their iPad. Children raised during Covid see life differently from those who spent their first few years roaming the streets playing cowboys with their toy guns.
The Deloitte survey can, therefore, guide us on what matters now to our employees. But it is just that – guidance. Let it spark your curiosity, steer your questions, and help you listen to changing demands and expectations. But don’t lazily start applying broad-brush assumptions to your people just because of their age.
Having said that, let’s consider what might be worth exploring to boost the happiness of younger employees.
Don’t lazily start applying broad-brush assumptions to your people just because of their age.
Tip one: Prioritise development
Deloitte’s research suggests these employees are hungry for development. Previous generations might have been cynical about training (I speak with personal experience of feeling like there were always employees on a course I was running or participating in under sufferance!). But today’s younger generations are very focused on learning and development. They don’t necessarily want to fight their way up the career ladder but 70% of Gen Zs say they are developing skills to advance their careers once a week or more. That compares to 59% of millennials. And about two-thirds of Gen Zs are developing these skills in their own time, outside of work.
Providing plenty of development in soft skills, time management, industry-specific training alongside mentoring and on-the-job practical experience will work brilliantly for these folks. If you create the courses and provide the time for them to attend, they will eat it up.
Just keep in mind that if you do this for your younger employees, you’d better ensure your leaders have high skill levels too. If your Gen Zs and millennials are more enlightened than your Gen Xers and Boomers you will create greater tension and unhappiness, not less.
70% of Gen Zs say they are developing skills to advance their careers once a week or more.
Tip two: Address the causes of stress
Instead of giving employees the skills to cope with stress, there is now a demand to address the root causes. Look at working hours, the size of job roles, targets and the unwritten rules of work (such as the implication that emails should be answered at 10pm, even if the policy says otherwise).
What behaviour gets rewarded? Who is considered most valuable? The ones who are available at all times of day and night, or those with clear boundaries? Who is considered more reliable? The ones who never ask for help or those who expect feedback and encouragement?
We have to start questioning how we collude with, or even perpetuate, a stressful and perhaps toxic workplace, even while offering resilience training and mental health first aid. Four in 10 Gen Zs and millennials believe managers have a responsibility to foster a positive and inclusive work culture, but only 22% of Gen Z and 21% of millennials believe that is happening.
We have to start questioning how we collude with, or even perpetuate, a stressful and perhaps toxic workplace.
Tip three: Protect entry-level jobs
Gen Zs and millennials have been rethinking higher education. The steep cost – plus the sense that what they formally learn will soon be outdated due to technological change – means they are seeking real-world experience instead. But gaining experience can be a challenge exacerbated by AI shrinking traditional entry-level roles.
Look at your expectations when recruiting, and if you haven’t already questioned the need for a degree, now is the time to do so.
You could also partner with universities so that young people can be assured they will get hands-on experience not just academic theory as part of their degree, if they choose to go in that direction. Additionally, make sure you offer plenty of on-the-job training opportunities, even if that means having people do tasks that AI could do, as this will give them those foundational skills.
Partner with universities so that young people can be assured they will get hands-on experience not just academic theory.
Moving past generational stereotyping
We must stop whispering about Gen Zs, and even millennials, being ‘work-shy’ or lacking ambition just because they aren’t willing to sacrifice their health for their job. To fill the leadership pipeline we may have to think about the price our incumbents are paying to be in these roles, and redesign them to appeal to those who value their time and sense of purpose.
Work matters to your younger employees. It is a huge part of their identity. If they aren’t happy, that might not be on them. It might be on you.
