With COVID-19's continual impact on the world - on economies, livelihoods, and more - how are Millennials and Gen Zs coping?
In a recent Deloitte pulse survey, conducted in early 2020 as the pandemic continued to unfold, 9,100 respondents from both generations globally were surveyed on the following: job security, finances, mental health, environment, and view of institutions.
In this article, we zoom in on the 201 Millennials surveyed in Thailand - how stressed/unhappy they may be, their views on their job security, and how they view the business amid the pandemic.
49% agree they feel anxious or stressed all/most of the time
This was higher than the global average, where 44% of those surveyed noted they felt stressed or anxious either all or most of the time. When broken down into men and women in Thailand, more women felt stressed as compared to their male counterparts (56% vs 42%).
Following that, the respondents were also asked to compare their level of happiness with their parents' generation, to which in Thailand, just over more than half (51%) think they will be less happy (globally: 45%). While this was so, about three in 10 (31%) indicated they will be happier, versus 26% globally.
But what's really stressing them out?
According to the survey, a majority of Millennials surveyed in Thailand (49%) said their longer-term financial future contributed largely to their regular stress.
At the same time, the welfare of their family (47%), job/career prospects (45%), and day-to-day finances (44%) came close behind.
On the lower end, close to three in 10 (28%) indicated their physical/mental health as a contributing factor.
With stress and anxiety thus playing a big role in their lives, it was no surprise that a number did believe it was a valid reason for taking time off work.
For instance, close to half (45%) in Thailand agreed so, while 50% did globally; on the other hand, 51% of Thailand's Millennials still said no (globally: 39%), while the remaining 4% preferred not to indicate (globally: 12%).
And with this in mind, have people actually taken time off work in the past 12 months due to stress/anxiety? It's a yes for 39% of respondents in Thailand (29% globally), of which 42% have stated the true reason to their boss (44% globally).
More Millennials in Thailand expect to stay with their current employers
When surveyed during the pandemic, 47% said they expect to stay with their current employers beyond five years, a jump from 40% who said so pre-pandemic. Similarly, there has been a decline in the number who expected to leave within two years - from 33% in 2019, to 19% in 2020.
At the same time, when asked: "How secure do you feel in your current role where you work?" A majority (52%) of Thai respondents indicated "fairly secure", while 27% said "very secure".
On average globally, 31% now expect to leave their current employer within two years, while 35% expect to stay beyond five years; 53% felt fairly secure, versus 23% who felt very secure.
Business leaders among the top trusted sources of information
In a time where information is accessible anytime, anywhere, there is no doubt extra importance placed on finding a reliable source of information.
According to 50%-60% of respondents in Thailand, business leaders, leaders of NGOs/non-profit organisations, and social media platforms are their top trusted sources of reliable information.
However, when it came to whether businesses in general had a very/fairly positive impact on the wider society they operate in, the number of respondents who thought so dipped - 50% in 2020, versus 57% in 2019 (globally: 51% versus 55%).
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