The pandemic took a toll on everyone, but perhaps none more than Gen Z, the generation from which many came of age and entered the workforce during a global crisis.
According to the AXA Study of Mind Health and Wellbeing 2023, Gen Z has struggled the most in the workplace, particularly in the Philippines.
In particular, the study found that more Filipino respondents aged between 18 years old and 24 years old admitted to experiencing depression and anxiety than the global percentage. Approximately 35% of Gen Z Filipinos experienced depression compared to 27% of Gen Zs globally. Meanwhile, 16% admitted to anxiety, compared to 12% globally.
"While the COVID-19 pandemic has taken a heavy toll on mind health across society, the latest findings has revealed that Gen Z (aged 18 to 24) appears to be taking the brunt of the impact, with more than half of Gen Z globally (54%) and in Asia (51%) experiencing poor mental health," AXA reported.
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Mental health in the workplace
On a larger level, Gen Zs in Asia and globally have the highest proportion of individuals experiencing emotional and psychosocial stress among all age groups. Meanwhile, Gen Zs have the lowest percentage of individuals who feel they are "flourishing" or are at the pinnacle of their mental health.
"While mind health has rightly attracted greater attention in the wake of the pandemic's disruption on our lives, these findings emphasize that the next generation of talent across Asia are facing severe challenges," said Gordon Watson, CEO of AXA Asia and Africa. "Companies need to examine how they can make a tangible difference with support relevant to the needs of their Gen Z employees, not only to help with productivity and retention but to tackle this urgent issue affecting societies across the region."
Based on AXA's research, there are a lot of factors in play that are impacting the mental health of Gen Z, including but not limited to: uncertainty about the future, struggling to separate work life and non-work life, finding it hard to keep up with the pace of change at work, and a lack of job-skill fit.
These obstacles have proven so challenging, that in Asia, Gen Zs are the age group with the highest intention of resigning in the next 12 months. However, the news isn't all bad. AXA has discovered that Asian companies are 2.5 times more likely to provide mental health support.
"While we see a considerable improvement in mind health globally, this does not mean that we can just sit back and simply let things run their course," said Bernardo Serrano Lopez, AXA Philippines President and Chief Executive Officer. "The insights from this study help organizational leaders and people managers steer their initiatives to better benefit our employees' physical and mental health."
Despite the fact that 51% of Gen Z in Asia are struggling with mental health, Gen Z has shown a greater ability to work under stress. On a global level, 36% of respondents agree that the cultural stigma around mental health is disappearing.
It's clear that there's more work to be done on the mental health front, but the first step to addressing an issue is understanding it, which companies can now do through AXA's mind health report.
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