Recent research indicates a major shift in workplace stress priorities according to employer insights.
- Work-related stress has surpassed financial worries as the primary concern for most generational staff, excluding Gen X.
- Employers note a significant rise in work-related stress across Baby Boomers, Gen Y, and Gen Z.
- Gen X now faces predominant stress from home life rather than work or financial concerns.
- Increased hybrid working blurs boundaries between personal and professional stress factors.
A recent analysis by GRiD, the industry body for group risk, highlights a notable shift in the primary causes of stress and anxiety among employees, according to employers. This shift sees work-related stress now leading as the main health and wellbeing concern for the majority of generational demographics, apart from Generation X. In previous years, financial stress had dominated this space across various generational cohorts.
The study shows that 40% of employers identified work-related stress as a core concern for Baby Boomers and Gen X, while the numbers rose slightly to 44% for Gen Y (Millennials) and dropped to 39% for Gen Z. These findings underscore the growing pressures related to professional responsibilities and uncertain futures that staff face today.
In contrast, findings for Gen X reveal a shift in stress sources. For this group, home-life stressors such as caregiving responsibilities and challenging relationships have overtaken work and financial pressures. This change highlights the diverse nature of stressors that can affect different generations in unique ways at various life stages.
Although financial anxiety has receded from being the primary concern, it remains a significant issue, with 18% of employers recognising it as a stress indicator for Baby Boomers, increasing to 35% for Millennials and slightly decreasing to 33% for Gen Z. This could be reflective of a partial easing in financial burdens due to gradual wage adjustments and slowing inflation.
The intertwining of work and personal stress is exacerbated by hybrid working environments, which have blurred the lines more than ever. This confluence means that stress in one area can easily impact the other, demanding comprehensive support systems that can adapt to varied employee needs.
Katharine Moxham from GRiD states, “It’s interesting to see that in employers’ eyes, the main driver for employee stress is now due to work itself rather than being financially-related. This is something that employers need to keep a close eye on as it is in their control and an area in which they can make a real difference for staff.” Her insights emphasise the importance of employer vigilance in managing workplace stress effectively.
From the employee’s perspective, those under 60 corroborate the employer findings, identifying work-related stress as a primary concern this year. However, older employees point to serious illnesses as their top concern, highlighting the variance in stress factors across different age groups.
Given the complexities surrounding stress management, providing broad-based support systems is crucial. Employers are encouraged to offer diverse benefits such as group risk provisions, which include life assurance and critical illness cover. Such provisions, according to GRiD, can offer significant relief, especially when paired with accessible mental health counselling and preventive health support.
Katharine Moxham emphasises that while demographic factors do influence stress trends, external conditions play a critical role too, urging employers to devise robust benefits programmes that cater to evolving employee needs.
Stress management in the workplace requires a nuanced approach, considering both generational differences and evolving external pressures.
