According to the Cigna study, 39% say worries about money are a major cause of stress. In addition, according to a study by DailyPay and Harris Poll, 48% say they are unable to move out of their parents' homes due to financial challenges, and 33% are concerned inflation will make it tough for them to buy a home.
Anxiety and depression: Gen Z experiences high rates of anxiety and depression due to academic pressures, social media comparisons, economic uncertainty, and other stressors. Encourage open conversations: Create a safe and non-judgmental space for Gen Z individuals to express their feelings and concerns.
Millennials and Gen Zers will likely have to reckon with a declining Social Security system, the demise of company-sponsored pension plans, and increasingly volatile markets amid global challenges like climate change and political unrest.
Gen Z kids are more likely to experience depression, anxiety, and suicidal thoughts than their older counterparts. This is largely due to the excessive amounts of time they spend on social media, which can lead to feeling isolated, inadequate, and overwhelmed.
It's little wonder why: Gen Z are more likely than other generations to report that the pay they receive for their work does not afford them a good quality of life (26% compared to 20%), and 77% of them are in search of a new job (nearly double the rate of other respondents), per a McKinsey & Company report.
Data shows Gen Z workers report more struggles than the general population with hostile work environments, mental- and physical-health issues and even the inability to share one's full self in the workplace.
“What Gen Z wants is to do meaningful work with a sense of autonomy and flexibility and work-life balance and work with people who work collaboratively,” said Julie Lee, director of technology and mental health at Harvard Alumni for Mental Health, and an expert on Gen Z health and employment.
What are the values of Gen Z? Gen Z is known for being resourceful, independent learners who value diversity and inclusive culture and place a priority on well-being and mental health in the workplace. They are fiscally conservative with a keen focus on investing and income. Gen Z values justice and equity.
They are pragmatic and value direct communication, authenticity and relevance. They also value self-care. They may be more likely than older people were when they were the age of the Gen Zers to question rules and authority because they are so used to finding what they need on their own.
One of the most common stereotypes surrounding Gen Z is their 'troubling obsession' with technology. While it's true that they are digital natives who have grown up with the internet and smartphones, you could argue that this is a tech evolution rather than a generational obsession.
Gen Z employees believe that they are more than their jobs and they want their employers to know the same. However, they have indicated in polls that they are prepared to work hard even on weekends and evenings when necessary to develop their careers and achieve security.
Authenticity is the key to reaching the Gen Z audience.
This marketing approach has served all generations right up to millennials. Most of us have become accustomed to being broadcasted to and we feel comfortable with that relationship, even if we don't believe what we're being told. But Gen Z are not.
Generation Z, or "Gen Zers," are known for having a strong sense of social justice and promoting diversity in all areas of society. They use their voices and platforms, such as social media and online communities, to advocate for marginalized communities and push for change.
In particular, Gen Z trusts influencers more than ever before due to their relatability and unbiased opinions. Influencers often engage with their followers in various ways, from hosting meet-ups to live streaming their daily lives on social media platforms.
And it looks like Gen Z is indeed shaping up to be a homebody generation as well: Looking at their favorite activities by age, 13-18-year-olds are the most likely to say they “go out with friends” for fun in an average night, but playing video or mobile tops their list, followed by watching TV or movies.
Shaping the workplace
It won't be much of an exaggeration to say that one of the top Gen Z trends is 'be your own boss. ' With some of the oldest Gen Zers foraying into the workspace, it is estimated that they will occupy nearly 27 percent of the global workforce by 2025.
Members of the Gen Z years were born between 1997 and 2012. So as of 2023, the Gen Z age range is anywhere from 11 to 26. They are commonly referred to as the first fully “digitally native” generation. They grew up with social media and smartphones—they're used to living in a digital-first world.
Etymology and nomenclature. While there is no scientific process for deciding when a name has stuck, the momentum is clearly behind Gen Z. The name Generation Z is a reference to the fact that it is the second generation after Generation X, continuing the alphabetical sequence from Generation Y (Millennials).
Gen Alpha will be even more digital-forward
As the second digitally native generation, Gen Alpha will adopt technologies like smartphones and social media even faster than Gen Z.
Gen Z's particular interest in nostalgia tells us something: they're not sure about their online lives, and are looking for a better version of what we had before.
When asked to rate themselves on a scale of 1 to 10, Gen Z moms feel they're doing better compared to Millennials in areas such as: Focusing on their children's emotional health. Teaching children to be accepting of all. Allowing them to explore their identities.
Generation Z Picks Reading As A Top Spare-Time Activity
In fact, more Gen Z respondents picked reading than reviewing social media (17%) or playing video and online games (17% and 16%, respectively). Other activities, however, have particular younger or older age skews.
It found that, while there are similar rates of happiness across the older three generations, Gen Z is by far the least happy at work. Twenty-six percent of Gen Zers were unhappy in their jobs, and 17% were actively thinking about quitting.