millennials

Turns Out, Aussie Millennials Care More About Wellness Than Money

Less than half classify financial security as important to overall wellbeing.

You gotta admit, millennials cop quite a bit of slack from the older generations when it comes to the way they choose to live life, because “at your age” they did this, that and the other.
First of all, are you aware of Sydney’s property prices? Second of all, there’s no denying that times have well and truly changed.
Sure, it can be argued that millennials seem to be spending way more money on holidays, clothes (because, you’ve already uploaded a pic in that same outfit), gym memberships, coffee and food—but as one Australian workplace survey of more than 1,000 workers has revealed, millennials aren’t as materialistic as they are often portrayed.
Only 48% indicated financial security as an important factor to their overall wellbeing, compared to 60% of baby boomers and 54% of Gen X.

Lead researcher, Dr Lindsay McMillan said the findings from the survey for the Workplace Wellbeing report should not be completely unexpected. “42% of workers define wellbeing as balance in physical, mental, social and spiritual life and only 12% said it is having their desire for a house, income and success met,” he said.

“Less than half of young people think financial security is a priority for wellbeing. What is interesting is, that despite this, millennials are highly driven towards success–twice the rate than that of baby boomers–yet do not seem to be motivated by financial security.”

So what does this mean in the workplace? Dr McMillan said business leaders should focus on benefits that do not have a price tag.

“Creating new opportunities and experiences for career advancement, professional training and especially mentorship will help create jobs that young people really want,” he said.

“Being successful and accomplished is more than just a stable income–rest and relaxation and healthy friendships rated higher than financial security across all generations.”

Are you a part of this statistic? How do you define wellbeing?

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