Millennial workers are increasingly becoming the black sheep of the office, with young people increasingly more likely to do it for money than for fun, as years of economic turmoil have forced them to keep their heads down, collect their monthly paychecks, and compete for promotions.
Millennials are now the least likely to care about finding daily joy at work, according to a survey of nearly 35,000 employees worldwide.
The Workforce report from payroll services company ADP found that only a quarter of Millennials (aged 24-34) prioritize the joy of daily work when choosing a job. This compares to 45% of baby boomers over 55.
Instead, these younger workers are more likely to prioritize pay, with 56% prioritizing pay compared to just 44% of those aged 18-24. They also value career development more than other age groups.
There were also continental differences on both sides of the Atlantic, which led to preconceived notions of worker initiative. For example, Europeans are more likely than North Americans to enjoy daily work fun and job security.
Survey results suggest that Millennials are broken by years of unrequited graft and disconnected from personal happiness in the workplace, meaning they are working 40-hour weeks and no longer prioritizing happiness.
Older Millennials are spiraling into financial crisis, which means a tighter job market that robs them of the luxury options enjoyed by their predecessors. Younger Millennials and Gen Z are also facing the turmoil of the pandemic, high intergenerational inflation and rising interest rates as they enter their careers.
As a result, they now appear ready to lock in longer, more intense working hours in search of financial security.
The study is also consistent with other research on how young people find meaning when many lack the financial security to take a vacation, buy a sports car or reveal other classic hallmarks of a midlife crisis.
A poll from the Center for Prosperity Psychology found that 81 percent of Millennials feel they are too poor to go through the classic midlife crisis of splurging on unnecessary items or taking up unusual hobbies.
“Millennials’ midlife crisis is a ‘crisis of purpose and engagement,'” says Steven Floyd, owner of SF Psychotherapy Services. wealth. “A generation was encouraged to work hard and reach for stardom—they get there and want to know: Am I satisfied? Do I still care?
Baby boomers favor flexibility
ADP’s survey also revealed new insights into how workplaces influence employees’ perceptions of their job security and the extent to which their bosses actively monitor them.
While Millennials are the most likely to sacrifice happiness for career advancement, younger Gen Z employees are not far behind.
The report found that those aged 16-24 are least concerned about flexibility in their working hours compared to baby boomers aged 55 and over.
“The desire for flexible work arrangements has not gone away, it has just been reprioritized along with other job attributes that employees value, such as career development and fun at work,” said Dr. Nela Richardson, chief economist at ADP.
At the same time, anxiety levels are very high among telecommuters, who are 1.3 times more likely to feel unsafe at work than hybrid or full-time office workers. They were also more likely to believe they were being monitored by their bosses.
“While workers like the autonomy that flexible work arrangements provide, they also feel like their employers are monitoring them more,” Richardson said.
“Employers should set clear standards for offsite working and communicate these clearly to foster trust.”
