By Lindsay McMillan
Young Australians are feeling the brunt of workplace stress and financial pressure, according to Reventure's new workplace research.
The survey of more than 1,000 workers found those aged 23 to 37 are more stressed in all areas of their life compared with Generation X and Baby Boomers, and finances are the greatest concern.
This latest research comes as Australians are experiencing record low wages growth, with the wage price index increasing by only 2 per cent over the last year.
The report found that the areas of greatest stress for Generation Y are: finances (37 per cent), work (33 per cent) and health and fitness (23 per cent).
This latest research reveals that the pressures younger Australian workers are facing are very much rooted in the workplace.
Workplace stress is a massive concern and it is clear that younger Australians are feeling it more than other cohorts. Financial stress is significant for these younger workers and it aligns with a prolonged period of low wages growth in the economy.
We are seeing rapid change in workplaces around Australia and this is most evident in technological change, which is changing how work is conducted.
This means for many workers the lines between their work time and their personal time are being blurred, contributing to stress whilst wages remain low – it is a recipe for disaster.
As a result, workplaces need to start acknowledging the impact this is having on workers and put in place thoughtful strategies to address it. If businesses don’t act, this research clearly tells us that employees will simply pick up and move on.
The Workplace Wellbeing report is part of the a future that works campaign, which is advocating for workplace renewal across Australia. To read the report, click here.