How Millennials and Gen Zs Are Navigating the Pandemic: Stress and Resilience Revisited for the Young

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Each year, Deloitte releases their annual survey about the youngest generations in the workforce, Millennials and Gen Zs. I look forward to their report because it’s full of valuable research and statistics we use to inform much of the work we do here at launchbox by bridging the gaps with our clients.

Conducting a study of this size and magnitude is a serious undertaking that takes months and months of work. So what do you do when a global pandemic arrives and changes the world as we know it almost overnight? If you’re Deloitte, you take your original research and back it up with a pulse survey to see how some of the original respondents are faring amidst extreme change. Then, you use that data to publish a survey that offers one of the most informative and well-researched pictures of how young people are doing at work and at home even as they face an uncertain future.

Hint: they’re doing better than a lot of us would have thought. And the younger they are, the better they’re doing with uncertainty.

Below, we break down some of the key findings in the 2020 Deloitte survey and what this means for employers who are struggling to connect their remote employees to each other and their teams.

 

Key Finding #1: Millennials and Gen Zs Are Less Stressed Now Than They Were and That Means No More Business as Usual

Deloitte’s original survey was conducted between November 2019 and the early weeks of 2020. In that survey, 48% of Gen Z respondents and 44% of Millennial respondents reported that they were “stressed all or most of the time.” But in the pulse survey Deloitte conducted in April and May of 2020, they discovered an 8% decrease in stress for both generations. This is despite the fact that about 25-30% of respondents actually lost their jobs as a result of the pandemic. Pretty crazy what a huge reset will do to a generation or two.

What does this mean for employers? It means that many of your younger employees aren’t going to want to go back to business as the old usual. For some, the pandemic has had measurable benefits and they’re going to want to keep them. Things like the ability to work remote, flexible schedules, a reduction in calendar obligations, and more. 69% of Millennials and 64% of Gen Zs reported that they believe having the option to work from home in the future would relieve stress. After the pandemic is over, 64% of Millennials and 60% of Gen Zs said they would like the option to work from a remote location from frequently. So as an employer, ask your people what they want from you and their workplace. What parts of life pre-pandemic do they miss? And what do they hope stays in the past? We know they miss connection – look at the bars! However, do they need work connection 24/7 like we thought? No. They want to be trusted and also have more control and freedom about how and where they live and work. Pandora’s box is open.

 

Key Finding #2: Job Loyalty is Increasing Amongst the Younger Generations

A common complaint I hear from the older generations is that Millennials and Gen Zs “aren’t loyal.” They job hop a lot and when something’s not working for them, they are quick to seek alternative employment rather than stick it out to see if it improves. It’s one thing I love about the youth – they refuse to settle for anything less than what they think they deserve.

Yet in Deloitte’s primary survey, and contrary to popular belief, “more millennials said they’d like to stay with their employers for at least five years than would prefer to leave within two years.” In fact, just 31% of Millennials respondents to the primary survey shared that they intend to leave their current employment within the next two years, down from 49% in 2019! Interesting because we are seeing this with our clients too. They really want more safety and belonging. If you trust them and grow them, they will want to stay. Imagine that.

Deloitte hypothesized that the increase in job loyalty amongst the younger generations is due to their employers doing a better job addressing their needs, creating a diverse and inclusive working environment, and supporting their development through training and mentorship, among other factors. Across both generations, 71% of respondents felt that their employers were doing a fairly good job at creating a working environment that is inclusive and diverse. And roughly 70% of Millennial and Gen Z respondents felt their employer was making a positive impact on the local community. As an employer, pay close attention to these findings. We know that some of the things young people want from their employers include opportunities to learn and grow, transparency, real-deal authentic communication, and purpose and contribution. Make sure you have a system in place that gives your people what they want. Need help? Reach out to us – we have actionable tips and hacks that will help you create that system inside your business.

 

Key Finding #3: The Pandemic Has Increased Individual Responsibility and Empathy

If there’s one thing we can all agree on about the pandemic, it’s that we’ve all been affected in one way or another. Some of us dramatically, others marginally. Yet the coronavirus pandemic has emerged as one of the defining moments in living history, uniting us against a common enemy. For our young people, it’s had the positive effects of increasing their empathy for others and encouraging them to get more involved in supporting their local community. In Deloitte’s pulse survey, 75% of respondents across both generations reported, “once restrictions are lifted, they will take actions that have a positive impact on their communities. Seven in ten said they already have done so.” Three-quarters of respondents also mentioned that the pandemic had made them more aware of and sympathetic towards the needs of different people around the world.

What does this mean for employers? It means your younger generations, who were already pre-disposed to wanting to make a difference by doing work that matters, have had their innate generational desire towards purpose and contribution reinforced by recent events. Which means you really have to get this right with them! You need to connect them to their purpose, help them see that the work they’re doing matters, and give them the tools to create impact for others. It’s a tall order, but we think you’re up to the challenge. And we recently launched a new virtual product, Strengths & Story, to help. Your employees will learn how to identify their strengths and connect to their story so they can create an impact that matters. Contact us to learn more about getting access to this product for your team.

 

Click Here to Read the Full 2020 Survey From Deloitte

 

Did any of these key findings surprise you? Are their areas you know you need help in? We’re here for you. We’ve helped companies from start-up to Fortune 500 bridge the gap in their workplaces and solve for success. Reach out to us to claim your complimentary call and learn what we can do to help you succeed!

What Your Millennial and Gen Z Employees Need From You Right Now

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For the younger generations, Millennials and Gen Z, the effects of the COVID-19 pandemic will be particularly profound. For some of them, too young to feel the full weight of other recent, life-changing events like 9-11 and the 2008 market and jobs crash, this pandemic is their first exposure to real hardship. And, the most profound hardship most of us for any generation have experienced; it’s taking away the in-person human connection that is our primary source for safety and belonging. For other generations, the effects of the last recession, 9/11, wars, swine flu, still haven’t faded away.

As the employer and future employer, to the next leaders of our world and your workforce, you must truly understand this younger generation’s experience. And what they need from you in the workplace or the marketplace. They currently account for 38% of the workforce and by the end of the decade, 58% of employees will be either a Millennial or a Gen Z. If you and your business want to continue to survive and thrive in the new world of work, it’s not an option to ignore the needs of the younger generations and the effects the pandemic is having on them. You must meet them where they are and give them what they want in order to build your high-performance team and extend their reach to connecting with your clients. These generations actually account for 3 trillion dollars worth of annual spending!

Really, what Millennials or Gen Z employees want from their employers is no different than what any of us want. They just tend to be more vocal about it and more insistent that they get the support they’re seeking. This is one reason I love working with young people – they are absolutely determined to make it a better world and they’re not shy about going after it.

To help your Millennial and Gen Zs learn to be resilient from all the change we’ve had over the past few months and thrive, focus on these simple things:

 

Help Them Feel Safe

This is a big one and we covered it in our last blog. People need to feel safe at work. Physically safe (make sure they know the steps you’re taking to protect them from the virus), but also emotionally and psychologically safe. They need to know the workplace is a safe place to speak up, to tell it like it is, and to call out toxic or damaging behaviors. The depth and spread of the #MeToo and #BlackLivesMatter movements have shown how much the younger generations value creating spaces of inclusivity, equality, and safety. As I tell all of my clients, listen and listen like a trampoline, meaning bounce back with even better questions.

 

Help Them Feel Like They Belong

We all want to feel like we’re part of something that matters and again, Millennials and Gen Zs are no different. They place a high value on finding workplaces that allow them to do work that is meaningful. And it’s up to you to make sure they can clearly see how their work has meaning and how it’s contributing to your overall organizational goals. If you need help, we’re here. We’ve helped hundreds of organizations and teams solve the crisis of disengagement by helping connect team members to their personal and professional purposes (their why) threaded to your corporate missions through our flagship online program, Strengths & Story.

 

Provide Access to Mentoring and Coaching Opportunities

Though COVID-19 has done away with a lot of our traditional ways of providing professional development through the method of sending our people off to workshops and conferences, the younger generations were craving something different even before the pandemic. In a recent blog, we discussed how today’s young workers want the freedom and flexibility to seek out their own mentors and coaches, to learn on demand and in the way that suits them, sometimes even informally. They also need to take ownership in their mentoring relationships. With our teams working remotely and feeling isolated, helping your young people access new mentoring and coaching opportunities and techniques is critical.

To help, we recently launched our online portal, Hooga, to provide a virtual and on-demand coaching options for your people to learn the principles of our Strengths & Story workshops. Reach out to us to find out how you can get access!

 

Show Them How to Build Resilience

With all the uncertainty and stress that’s invaded our lives recently, one of the most important things Millennial and Gen Z employees need from you is to learn how to build and cultivate their own resilience. Sometimes called “grit” but even deeper, a person’s resilience is simply a measure of their ability to bounce back quickly when things get tough. And things have never been tougher for our workers than the challenges of COVID-19.

We have a 3-step system you can use to help them build better resilience. Click here to check it out now.

 

Reskill Them on Emotional Intelligence

Emotional Intelligence is key for success in the future world of work. And with so much stress, anxiety, and uncertainty, people need people. We need to feel connected to each other and that we have strong relationships, whether it’s with our bosses, coworkers, clients, or friends and family. Make sure your younger employees are equipped with the skills they need to up their game when it comes to their own Emotional Intelligence. Learn how to reskill them and coach them on Emotional Intelligence here.

 

Your Millennial and Gen Z employees need you to step up and help them in the wake of COVID-19. Start here with these five ideas. If you need help implementing any of the above strategies or would like a personalized recommendation for your team, reach out to us to learn how we can support you to success.

The Case for Creating Safety and Belonging in the Workplace Has Never Been Clearer

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As we get used to a new normal and over the shock and grief of COVID-19, it’s never been more important to care about our workplace. Our employees and teams really need a sense of safety and belonging. Both in the psychological and in the physical sense, as COVID-19 leaves us with new rules and regulations.

Simply put, if people don’t feel safe at work and if they don’t feel like they belong, they won’t do their best work. It really is that simple. The key to creating a successful culture that helps your company thrive and deliver high performance is to make sure your employees are safe. That means addressing their fears and concerns over their physical and psychological safety in a post-COVID19 world. Here’s how:

 

Ask, “What Can I Do Differently to Serve You?”

To solve any problem in your workplace, start by asking great questions. Questions that encourage the other person to go deep and really mine for the crystals so you can help solve for the challenges. I love these ideas from Google’s Head of People Analytics – start this week by asking these questions of every person on your team:

1) What am I doing now that you want me to continue to do?

2) What am I NOT doing frequently enough that you’d like to see more of?

3) What can I do to make you more effective?

Asking great questions demonstrates to the other person that you care about them, that you’re willing to listen, and you’ve got their back. When people know you care, they’ll trust you. Trust goes a long way toward creating a true culture of safety and belonging. In this new world you actually may want to share your procedures for physical safety and further check to see if they do feel physically safe and social distanced.

 

Ask, “What Makes Work Meaningful?”

We all want to do work that is meaningful, that makes a different for someone else or the world. With all this time at home, worrying about what’s going to happen to our families, our friends, our jobs, it’s got a lot of people thinking about what’s really important in life and questioning if they’re living in alignment with those principles.

Make sure you’re helping everyone on your team connect their work to their meaning and purpose. Help them see why they’re doing something and how it’s contributing to larger team or organizational goals. When people can see that they are part of something and helping to meaningfully create progress, they will feel that they belong. Again, COVID-19 is a game changer. Is there something you can do to help your employees or clients create meaning while protecting them at this time?

 

Seek to Reskill on Emotional Intelligence and Behaviors to Create Safety and Belonging

In previous articles we’ve discussed the importance of cultivating Emotional Intelligence (EQ) in our changing workplace. As we reenter the world and workforce with differing fears, anxieties, and stresses, demonstrating EQ has never been more important. Self + Others = Success. EQ helps us get there.

Reskill your team on the basics of EQ and make sure they understand how to really listen in a meaningful way, how to ask great questions, how to have empathy for the other person, and how to tap into their own strengths and story to connect. Also, make sure that you understand the real challenges of the current times and be sensitive to how they are feeling. Seek to address how their colleagues and clients may be feeling as well.

Check out our toolbox here for free resources you can use to help your people level up and let us know if we can help you apply them to our current day scenarios.

 

If you make a conscious choice to intentionally create a culture of safety and belonging, your team and company will thrive. We’ve seen it happen over and over again with our clients – and we’re sure these simple hacks will make the difference for you, too.

Need some support? Reach out to us – our Strength & Story system guarantees you will create a culture of safety and belonging and see real results with your team and business in 100 days or less. Contact us to find out more about how we can help you grow and thrive.

Where’s the Free Food and Ping-Pong Table? What New Hacks Will Solve the Innovation Vacuum in the Work-From-Home Economy?

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The work-from-home revolution has been unleashed. While it’s true that the workplace and worker of the future were both already changing prior to our current global pandemic, this lockdown has cemented a new era.

Big headlines from some of the largest tech companies in the world are just the beginning of this new era. What will it do to our workplaces?

Jack Dorsey, the CEO of both Twitter and Square was the first to announce their “work-from-home forever” policy change. Other companies soon followed suit and last week we had the announcement from Facebook CEO Mark Zuckerberg that the tech giant’s employees may also continue working from home indefinitely.

So what does this mean for cities that currently enjoy prestige as tech hotspots like San Francisco, San Jose, Seattle, Austin, and others? And more importantly, what does this mean for companies who have invested years and hundreds of thousands of dollars creating campuses stocked with free food, gyms, ping-pong tables, and more in an effort to attract the best and brightest employees in the industry?

That is the question that has been on my mind the last few weeks as I work with my own clients, including executives from some of the largest companies in America. It’s been well documented that perks like free food do more than attract rock star employees. A 2015 study from Cornell University found that when crews of firefighters eat together, they perform better on the job than crews who eat alone. This didn’t escape the leader in free food and organized socialization, Google, or the thousands of other companies that have followed their lead. For tech companies, offering free food has the same effect. Science dictates that it brings people together and fosters friendships, ideas, and innovation.

Prior to CVOID-19, the ubiquitous new age “dining hall” that could be found at many tech companies created a natural space for innovation. Where people gather and come together, there is always the potential for the creation and spread of new ideas. And it’s these new, innovative ideas tech companies relied on to stay one step ahead of the competition. Summarily, food and eating together creates safety and belonging , which creates trust, which creates innovation.

Here’s one thing I know: the work-from-home revolution and less human-to-human gatherings will create a safety and belonging gap which will lead to an innovation vacuum in your company unless you take steps to prevent it. Even now, your employees likely are not sharing meals together. They’re logging off of Zoom or Slack to go eat alone in their own kitchens. Ideas are not being exchanged and innovation is stalled.

So if you want to continue to spur innovation inside your company, as I know you do, use these ideas to foster safety, belonging, and innovation in the workplace:

 

Bring People Together

One of the most important steps to fostering innovation during the work-from-home revolution is to be intentional about replacing the cafeteria. You must find a replacement for your company’s dining hall, happy hour, or mixers that fits our new normal of social distancing and working remote. Rather than getting off of Zoom or Slack for lunch, encourage people to stay on and eat together as they would at the physical office. Schedule virtual happy hours. Randomly assign or encourage small groups to form and meet weekly over video chat to check in with each other and talk. As regulations allow, have people meet outside of work in small groups to walk or go for a hike. In fact, creating small bonded teams of 6-8 works for the Navy Seals. They create a brotherhood of safety and belonging, which yields the highest performance. Our millennial/Gen Z networking groups at launchbox, encourage participants to form a “tripod,” a small group of three people that meet for lunch and check in with each other between monthly meetings. No matter what you choose to do, you must be intentional about encouraging the human-to-human connection.

 

Ask Your People What They Need From You

One of our favorite workplace hacks to create and build strong teams and companies is to simply ask your people what they need from you. Are they feeling Zoom Fatigue with too many meetings already? Are they isolated and feeling distant from their team? Are they experiencing challenges at home that are interfering with work? Regular check-ins with your people will help you solve problems, build strong employee loyalty, and ultimately create the space people need to innovate. Unhappy, stressed, scared people do not create game-changing breakthroughs. Happy, confident, supported people do.

 

Foster Resilience

If you haven’t checked out our blog on mastering the 3 components of resilience, read that next. Our 3 C’s of Confidence, Commitment, and Clarity will help your people create resilience. As I said above, unhappy employees do not innovate. Help your people meet the challenges of the work-from-home revolution by teaching them the skills to build and maintain resilience. It will change the way they show up for work, their team, and your clients.

 

The work-from-home revolution has arrived and it’s now our normal. We do the work with business owners, executives and workplaces to help them find, build, and share their Strengths and Story to build high performance cultures through safety and belonging. What could be better? Click here to book a free session with us today!

Don’t Overlook the ‘Middle Child’, Gen X

Sometimes, when evaluating millennials, we overlook Gen X. This generation not only raised many young millennials but they have become successful business people themselves. Gen X is often referred to as the ‘awkward middle child’ between Baby Boomers and Millennials, but it is important for us to stop and examine their successes as well. The differences between millennials, gen x, and boomers is interesting and points at the gap that we are trying to bridge!

http://money.cnn.com/2014/06/30/news/economy/gen-x/index.html?iid=TL_Popular