Deliotte's 2023 Gen Z and Millennial survey reveals two generational cohorts that may be juggling too many things at the same time and are struggling as a result. Know more:
The Philippines ranked 1st among the fastest growing gig-economy markets in the world, even before the pandemic began. There are approximately 1.5 million freelancers in the country. Youth freelancers leads in Asia, 82% of which are 35 years old and below, compared to only 47% in North America.DELOITTE’S 2023 Gen Z and Millennial survey reveals two generational cohorts that may be juggling too many things at the same time and are struggling as a result.
Indeed, more than half of Filipino millennials and Gen Zs admit to living paycheck to paycheck and worry they won’t be able to cover their expenses. Their peers around the world aren’t faring any better: 52 percent of global millennials and 51 percent of global Gen Zs are in the same boat. This need to supplement their paycheck appears to be having a negative impact on these young workers: 66 percent of Filipino millennials and 81 percent of Filipino Gen Zs feel burned out due to the intensity and demands of their workloads. As with last year, more Filipino millennials and Gen Zs report feeling anxious or stressed all or most of the time compared to their global peers.
Organizations can also provide support in caring for the mental health of employees. On this front, it appears Philippine companies have taken to heart the lessons learned during the height of the pandemic. Nearly 80 percent of Filipino millennials and Gen Zs either agree or strongly agree with the statement, “My employer takes the mental health of employees seriously and has policies/resources designed to help.
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