Gen Z & workplace anxiety: How can we support the next wave of advisers in high stress environments?

Zoe Odusina, Chief People Officer at Reassured, discusses how firms can support the mental wellbeing of new talent in the Life Insurance industry, in support of World Mental Health Day.

Related topics:  mental health,  Let's Talk Gen Z
Zoe Odusina | Chief People Officer, Reassured
10th October 2024
Zoe Odusina
"At Reassured, we offer Gen Z training for managers to bridge any misunderstandings caused by a multi-generational workforce."

There’s been a worrying rise in long-term mental health conditions amongst younger people. According to a survey published by PwC, nearly a quarter (22%) of Gen Z have experienced a long-term mental health condition – far higher than the average (8%) in the UK.  

Meanwhile, Office for National Statistics (ONS) figures show the number of people economically inactive due to long-term sickness rose to over 2.5mn in 2023, which is 400k higher than before the pandemic. Notably, 23% of those aged 16-34 years old said they had five or more health conditions, including depression & anxiety, that eventually triggered a long-term absence from employment.

READ MORE: ONS reports 23% of 16 to 34-year-olds say they have five or more health conditions in 2023

The number of people economically inactive in the UK has now risen to 9.4mn – 22% of the working population. PwC’s findings attribute this spike to several factors, including poor mental health.

In Reassured’s experience, anxiety, depression & loneliness are some of the most common reasons for Gen Z employees to request unplanned leave from the workplace. This could be due to the rising prevalence of social media, fostering comparisons, cyberbullying, and a distorted sense of reality. Potentially, ‘helicopter parenting’ has impacted this generation’s ability to develop resilience and cope with adversity. Likewise, what psychologists are calling the ‘comfort crisis’ - a lifestyle of convenience and avoidance of discomfort - might also be affecting Gen Z’s mental wellbeing.

On a global scale, the impact of the mental health crisis is worrying, since Gen Z will account for 27% of the global workforce by 2025. At Reassured, we have seen a 6% increase in the number of Gen Z employees, rising from 21% in 2023 to 27% this year. It goes without saying, we take the wellbeing of our people extremely seriously, especially since we operate in a high-stress environment.

So, how can organisations better support Gen Z employees’ mental health in the workplace?

  • Prioritise mental health: Provide access to benefits such as therapy and/or wellbeing programmes. At Reassured we have mental health first aiders, wellbeing action plans, and an enhanced Employee Assistance Programme (EAP) in place,
  • Create an open culture to avoid stigmatising mental health: Encourage employees to speak openly about mental health and create a culture where discussing your wellbeing is accepted,
  • Provide feedback: Regular feedback sessions will help employees understand what they’re doing well and where they can improve. It works both ways – Gen Z want to feel valued, included, and respected in the workplace,
  • Offer good communication: It’s important to convey company values clearly and help younger employees understand what is expected of them.

At Reassured, we also offer Gen Z training to bridge any misunderstandings caused by a multi-generational workforce. This training is delivered face-to-face by our business psychologist and allows managers to learn from real-life workplace scenarios and ask questions.

Organisations should strive to create an environment where mental health is valued as a core asset. This includes commitment to policies & practices that improve mental health for staff and management alike.

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