Research from GRiD highlights a shifting trend in workplace stressors.
- Work-related stress now surpasses financial stress for most employees, except Gen X.
- The change reflects workplace pressures like overwork and future uncertainty.
- Gen X faces unique stress from home life, outweighing work and financial concerns.
- Both work and home stressors are interlinked, indicating a broader impact on well-being.
Research conducted by the industry body GRiD has revealed a notable shift in the primary stressors affecting employees across different generational demographics. Employers now consider work-related stress to outweigh financial stress in several generations, a change from previous years where financial concerns were predominant.
Workplace stress, encompassing aspects such as overwork and uncertainty about the future, has been identified by 40% of employers as a significant issue for Baby Boomers, by 40% for Generation X, by 44% for Millennials, and by 39% for Generation Z. This marks a substantial change from 2023, where financial stress was cited as the main concern for these groups.
Interestingly, for Generation X, stress related to home life—such as caring responsibilities and managing difficult relationships—has surpassed both work and financial pressures, becoming the primary concern for 42% of employers in 2024. This unique finding suggests a different stress landscape for this generation.
Even though financial stress has taken a backseat, it remains significant, with 18% of employers noting it as a concern for Baby Boomers, 28% for Generation X, 35% for Millennials, and 33% for Generation Z. This lingering concern mirrors a reported slight easing in household financial pressures.
The intertwining of stressors between work and home life is further complicated by the adoption of hybrid working models, which blur the lines between professional and personal spheres. Such overlap potentially amplifies stress in both domains.
Employee perspectives align with these employer observations. Most employees under 60 identified work-related stress as their foremost health concern, contrasting with those over 60, who are more worried about serious illnesses and chronic conditions.
Katharine Moxham from GRiD highlights the importance of monitoring these trends, advising employers to focus on areas within their control, like work-related stress. This proactive management can significantly benefit employee well-being.
For effective support, employers are encouraged to offer comprehensive benefits that address a wide range of issues. Group risk benefits, including life assurance and income protection, are advised for their cost-effectiveness and comprehensive coverage, especially when coupled with accessible, 24/7 counselling options.
Employers should remain vigilant and adaptable to evolving stressors to adequately support their workforce.