We all want a life more that’s more balanced between work and fun. But millennials, more than any other age group, are the unhappiest when they don’t get it.
Nearly one-third of millennials say managing their work, family, and personal responsibilities has become more difficult in the past five years. And nearly half—47%—are working more hours, compared with 38% of Generation X and 28% of baby boom workers, according to a recent survey by Ernst & Young’s Global Generation Research.
More than other generations, millennials want flexibility in terms of where and how they work and are the most willing to take a pay cut, pass up a promotion, or even relocate to manage work-life demands better, according to the survey.
But employers don’t make it easy. Nearly one in six young workers surveyed by EY say they suffer negative consequences for choosing a flexible schedule.
Why should employers care about millennials want? This group—age 18 to 34—now officially outnumber Generation X as the most populous group in the workforce and are on track to surpass baby boomers soon. As employers try to attract and retain the best and the brightest, knowing what’s important to them is, well, important. Turnover among millennials tends to be higher than other work cohorts, and high turnover is costly to companies.
The E&Y survey further illuminates why this generation is more adamant about wanting flexibility. Millennials are hitting the time of their lives when they marry, buy homes, and have kids at the same time the demands of work are escalating.
“Earlier generations were probably too afraid to ask for flexibility. The mindset was that work comes first,” says Rose Ernst, national director of G10 Associates program, which works with companies to hire and retain college graduates and Generation Y workers. But many millennials grew up with parents who got laid off or whose careers suffered during recessions despite putting in long hours in the office. Meanwhile, technology has evolved so it’s easier to work from anywhere.