- Ford released its 2024 trends study after conducting 16,086 online interviews in 16 countries.
- It found that 60% of American millennials would accept a 20% pay cut to improve their work-life balance.
- Baby boomers were the least motivated generation at 33%.
American Millennials hate hustle culture.
Ford’s 2024 Trends Study, which conducted 16,086 online interviews in 16 countries, found that American millennials are ready to step away from their desks.
Approximately 60% of U.S. Millennials surveyed said they would accept a 20% pay cut “to achieve a lifestyle that prioritizes their quality of life,” which is higher than the global average. 5% higher.
Millennials in the United States are the most ambitious of their generation. Only 33% of baby boomers were willing to take a pay cut, compared to 43% of Gen X and 56% of Gen Z.
American millennials also outperformed other countries, including Canada, Mexico, China, and Australia. Only 70% of millennials in Thailand and 69% of India are willing to take a pay cut of nearly a quarter to prioritize quality of life.
Ford also asked respondents whether they thought jobs that increased personal stress were not worth it. In the US, a whopping 79% of baby boomers say it’s not worth it, followed by 72% of Gen Xers and 63% of Millennials.
66% of Generation Z advocates work-life balance in general.
The findings aren’t all that surprising. In September 2023, King’s College London published research showing that millennials value work-life balance more than any other generation.
Karl Treacher, CEO of the Australian Cultural Institute, also shared his predictions for what work culture will look like by 2030. According to Treacher, there is potential for more flexibility in the workforce, which is good news for younger generations.
“In 2030, employees will have more control over their work arrangements and decision-making processes,” he told CEO Magazine in March 2023. “Self-management and self-managed teams will become the norm, much like today’s “It will no longer be an exception.”
He added that there is likely to be more focus on mental health.
“There is no question that employee mental health will become a key priority for all organizations by 2030,” Treacher told BI in December 2023.
Treacher said workplaces will shift away from reactive approaches such as therapy and instead focus on preventive measures such as mindfulness training.