(Bloomberg) — If your manager seems irritable lately, consider this: Six in 10 of them say their mental health has been affected by the pandemic, according to a new survey from Prudential Financial.
According to a nationally representative survey of 2,000 workers, 40% of managers say they are prioritizing their mental health over their careers. Of managers whose direct reports are working remotely, 44% said the hybrid work model had already burned them out.
Workers who were once only gripped about their work-life balance are now actually doing something about it. Seventy percent said they are “prioritizing or considering their personal life over their job,” and one in five said they are willing to take a pay cut for a better quality of life. Average percentage pay cuts employees will be willing to take: 10%.
Workers who hope to maintain a more flexible, hybrid work model may be disappointed, however, if their managers’ instincts are on target. While 78% of hybrid workers expect their new working style to be the main way people work in the next decade, 64% of managers with remotely working employees feel that companies now using hybrid models will eventually make up the majority of employees. Would like to come back to the office for five days. one week.
And while workers are leaving their jobs, more millennials now than before the pandemic believe that staying can be a good thing. Some 44% of Millennials plan to work for a company until they retire, a 15 percentage point jump from when Prudential asked that question in 2019. Overall, 51% of employees expect to work for a company until they retire – a 19 percentage point jump from 2019.
Also, the survey reflects what has been called great resignations. A good group of people said they moved to a new job since the start of the pandemic: 22%, up from 13% who said that in a survey in April last year.
More highlights from the survey:
- Among managers, 44% worry that they are lagging behind in their career development and 23% of those managing remote employees said they are “not getting the support they need from their employer.”
- 42% of workers said their financial situation had improved since 2020; That was true for 54% of Gen Zs and 49% of Millennials. Very few women reported that their finances had improved, however – 36% of women said compared to 48% of men.
- Many employees (68%) predict that they will get a salary increase this year. Most of those who predict the collision think it will be between 1% and 5%. However, about a third of workers do not think they will get a pay hike in 2022.
To contact the author of this story:
Susan Woolley in New York [email protected]