A landmark study unveiled by Trachet – a disruptive advisory firm – has highlighted through its overwhelming body of new data, the effect that returning to work post pandemic has had on the youngest generation of the UK workforce. Deloitte states that Gen Z workers will require an increase scope of resource, talents and areas of knowledge as employers now demand a fusion of four key work skills: comfort with analytics and data, business management skills, design and creative skills and digital tools and technology skills.
As the UK navigates a critical point of recovery post a 2-year hiatus, the report titled “From Burnout to Earnout” shows an under-resourced workforce and a body of decision makers in dire need of high-level counsel. To frame the core outcomes of the nationally representative data, a shocking 28% of Gen Z respondents said they can’t remember the last time they spent quality time with their families due to their workload.
The added responsibilities and pressures that Gen Z professionals face has taken its toll as, the research commissioned by Trachet has unveiled that 46% of Gen Z workers state they often feel tired, helpless, or lonely from the world of work due to their workload, followed closely by Millennials with 40% expressing the same sentiment. The data indicates that the attitudes expressed amongst the youngest strand of the UK workforce will seemingly make it difficult to secure a steady path to recovery, a survey by Employment Hero found that 74% of Gen Z (18 – 24) are looking to change roles within the next year.
The situation is exacerbated by the long-term effects of COVID, according to the London School of Economics, the pandemic caused 75% of businesses to adapt productivity-enhancing technologies which in turn, have created continued isolation for much of the UK workforce. Furthermore, external factors such as the highest rates of inflation and a crippling cost-of-living crisis may have also impacted the new generation of workers, serving as testament, Trachet found 61% of Gen Z state they would be happy to compromise their career aspirations in order to preserve their mental health, indicative of a nearly depleted workforce.
Charged as the architects that will shape the future of UK business, 65% of Gen Z stated they would take the risk of starting a business with the objective of improving their lifestyle, which equates to an impressive 2.8 million Brits between the ages of 18-24. Despite choosing to start a business to enhance their lifestyles, Trachet found that 37% of Gen Z entrepreneurs state that in running their business, they have no one to support them, carrying out all tasks alone – from finance to legal – which enhances the stress they feel, demonstrating a never-ending cycle of lonely and tired workers and business founders.
Claire Trachet CEO and Founder of Trachet comments on negative implications of fatigue among Zoomers:
“A burnt-out workforce is one of the biggest barriers that inhibit businesses from growing effectively. The challenge lies in identifying these traits within your teams before it develops into a more serious issue. Start-up founders and entrepreneurs – as expected so early on – are heavily invested in the day-to-day operations of their business, prioritizing urgencies and leaving little room to anticipate future issues such as before they become a full fledged crusus. Yet, they’re required to take on all the tasks of a CEO or Founder, without the necessary experience required in order to identify problems and consequently prevent them.
They tend to isolate themselves while trying to resolve the issues, creating a situation where it becomes increasingly difficult to be transparent with their investors, trying to scale up too early in the hope that it will be the solution to the issue. Usually, the foundations of the business are not robust enough to accelerate at that point, precipitating further issues. With proper support and guidance this can be corrected, whilst preserving the mental health of the leaders of the business and their teams.”
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