One in four millennials have left their company so far this year due to burnout, according to a Deloitte Ireland survey released on Wednesday.
The results also showed 40% of millennials and 56% of Gen Z workers are planning to quit their jobs and search for new roles within the next two years.
The survey revealed the post-pandemic ‘great resignation’ theme is occurring within the Irish labour force.
Employees are seeking out roles with less stress, better career advancement opportunities and more attractive conditions, such as hybrid and remote working, with workers leaving jobs that do not fulfil these criteria.
The survey found large portions of the workforce were concerned about the economic outlook, with 53% of millennials believing the economic situation will worsen in the next 12 months. Among Gen Z workers, this figure dropped to 36%.
Meanwhile, the cost of living is a key worry for Irish millennials, with 55% ranking it as their top concern. This is much higher than the global average of 36%
Along with cost of living concerns, 75% of Gen Zs and 77% of millennials surveyed said they preferred hybrid or fully remote work however, less than half currently have the option to do so.
The mental health of employees is also a topic of concern, with almost half of Gen Z employees surveyed saying they feel stressed all or most of the time.
However, more than half of respondents said since the start of the pandemic their employer was more focused on workplace wellbeing and mental health.
Gary Notley, director for human capital, Deloitte Ireland said: “The top trend that stood out in the Irish context in this survey is a strong desire and decisiveness around a better work-life balance.
He added: “One in two millennials and one in three of Gen Zs said that better work-life balance is the main consideration when looking at an organisation’s offering in 2022. This correlates with the second trend around mental health.”