Mumbai: One in Four Millennials Faces Burnout, Reveals New Workplace Report
A recent report highlights that a significant proportion of millennials in India are struggling with burnout, despite their pivotal role in the modern workforce. According to the ‘India Great Place To Work’ report released on Friday, one in four millennials is experiencing burnout, underscoring the critical need for organizations to foster supportive and engaging work environments.
The report reveals that approximately 44 percent of millennials in India have job tenures of less than two years, signaling the importance of effective employee engagement and development strategies for retaining top talent. Despite 79 percent of millennials feeling they can balance professional and personal responsibilities effectively, the burnout rate remains a pressing concern.
Balbir Singh, CEO of Great Place To Work India, emphasized the growing influence of millennials, who now comprise around 67 percent of the workforce. “Millennials are increasingly taking on managerial and leadership roles, and their innovative ideas are shaping the future of organizations. Addressing their well-being is essential for organizational success,” Singh stated.
The report further indicates that 74 percent of millennials believe their compensation is fair, and organizations with equitable pay structures are twice as likely to be perceived as excellent workplaces. However, millennials demand transparency and fairness in compensation, urging employers to align pay scales with market standards.
Additionally, 84 percent of millennials in senior leadership roles report having access to leadership development resources. To meet the evolving needs of this demographic, organizations are encouraged to adopt policies that include flexible work hours, comprehensive family health benefits, and holistic wellness and financial support programs.
The findings highlight the necessity for companies to adapt and create work environments that support the well-being of their millennial employees, ensuring long-term engagement and retention.
