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Singapore millennials more stressed than global average: survey
MILLENNIALS and Gen Zs in Singapore feel more anxious and stressed than their global counterparts, even as fewer have spoken openly with their employers about their feelings.
According to Deloitte’s 2021 Millennial and Gen Z Survey, 45 per cent of millennials and 40 per cent of Gen Zs in Singapore said they feel anxious or stressed all or most of the time. This compares with 41 per cent of millennials and 46 per cent of Gen Zs globally.
The study surveyed nearly 23,000 millennial and and Gen Z respondents from 45 countries. In Singapore, a total of 308 respondents, comprising 203 millennials and 105 Gen Zs were polled.
Meanwhile, 65 per cent of millennials in Singapore versus 58 per cent of millennials globally have not spoken openly to their employers about feeling more stressed/anxious since the pandemic started.
A further 40 per cent of millennials and 31 per cent of Gen Zs in Singapore strongly disagree/tend to disagree that their employer is actively making plans and preparing policies to support employees with their post-pandemic mental/physical health, compared to 39 per cent and 36 per cent of their global millennials and Gen Zs counterparts respectively.
The pandemic has also heightened uncertainty over the financial future.
Looking ahead, only 36 per cent of millennials and 40 per cent of Gen Zs globally believe their personal financial situations will improve by 2022.
While personal financial concerns increasingly are on their minds, so is wealth inequality as a larger societal issue. Two-thirds of millennials (69 per cent) and Gen Zs (66 per cent) surveyed think wealth and income is distributed unequally throughout society.
In Singapore, millennials (61 per cent) and Gen Zs (62 per cent) think wealth and income are unequally distributed. Many believe government intervention will be needed to drive change.
On a brighter note, people from these generations continue to demand accountability to drive changes that will result in a more equitable and sustainable world, with the majority believing we are at a tipping point on key societal issues including climate change, inequality and discrimination.
About 37 per cent of millennials and 40 per cent of Gen Zs globally said they believe more people will commit to take action on environmental and climate issues after the pandemic. This could include anything from recycling more to increasing use of public transportation, to changing their eating and shopping habits.
More than a quarter of global respondents said business impact (both positive and negative) on the environment has influenced their buying decisions.
“In the 10 years Deloitte has been conducting the Millennial Survey, millennials and Gen Zs’ lives have changed, but their values have remained steadfast. They have sustained their idealism, their desire for a better world, and their belief that business can and should do more to help society,” said Michele Parmelee, Deloitte global deputy chief executive officer and chief people and purpose officer.
“Even during a difficult year, they continue to push for positive societal change. Businesses that share their vision and support them in their efforts to create a better future will come out on top.”
Source: https://www.businesstimes.com.sg/global-enterprise/singapore-millennials-more-stressed-than-global-average-survey