The 2015/2016 report found 45 per cent of Generation Xers, born from the early 1960s to mid 1970s, and 35 per cent of baby boomers, born during the post–World War II, are more affected by workplace stress than their older colleagues.
The study of 1,895 employees in the UK found that the top causes of workplace stress for Generation Y were inadequate staffing and low pay. A lack of work/life balance was also a major concern compared to baby boomers who listed company culture and excessive organisation change.
Rebekah Haymes, senior consultant at Willis Towers Watson said: “Work/life balance appears as a stronger stress driver for Generation Y employees, while the characteristics of the organisation play a more prominent role for older employees.”
The report also shows Generation Y are more worried about their finances than older workers with 65 per cent compared to 55 per cent of generation X workers and 38 per cent of baby boomers.
Haymes added: “In an environment with tight margins, employers cannot easily manage issues around low pay and staffing levels. However, they can marshal resources and focus on providing guidance on stress management and coping strategies through their wellbeing programmes.”
Last year alone a record 17 million working days were lost, costing the economy at least £2.4billion, according to the UK Statistics Authority. This compares with 13.6 million days lost in 2014 and 15.2 million days during 2013.