Many young professionals have long commutes because their workplaces are in areas that are too expensive for them to live in, according to a Randstad US and Apartment Guide survey.
While a quarter (24 percent) of all the 1,200-plus workers ages 18 to 45 surveyed say they live far from their jobs because they can't afford to live nearby, Gen Zers are the most affected, with 43 percent saying this is true.
“Affordability is a major concern for today's renters, whether in a big city or rural town,” says Emily Williams, senior data analyst for Apartment Guide. “Our data shows that average national rent prices have increased by more than 4 percent over the past year, but in some places, the increase is much higher.”
Half (50 percent) of Gen Zers say they have more than one job to supplement their salary so they can afford their housing costs, compared to 28 percent of all workers.
Nearly half (47 percent) of Gen Zers often skip work events that extend after hours because of their long commute, and 42 percent say their commute negatively impacts their mood and productivity at work. And a third (33 percent) have actually gotten into DWW —” Driving while Working” — accidents because they were checking work emails, texts or calls while in traffic.
“Tight budgets are nothing new for young people just starting out in their careers, but today's increasingly high cost of living coupled with slow wage growth means that, despite low unemployment, millennials and Gen Zs are faced with at least two variables negatively impacting their financial well-being,” said Jim Link, chief human resources officer, Randstad North America.
A fair amount of workers (35 percent) telecommute, but many respondents admit to distractions and difficulty disconnecting when working from home. Nearly half (44 percent) actually prefer working in the office because it's easier to disconnect from their jobs; 26 percent say they feel lonely working from home; 57 percent “multitask” and do household chores like laundry, cleaning or cooking while working from home, while 32 percent get distracted by the TV; and 29 percent have had a pet or child disrupt a work call.
“Working from home can offset some of their transportation and living expenses, but it can also lead to loneliness and increased risk of disengagement,” Link says. “It doesn't have to, though. Managers with remote workers can take steps to promote as much collaboration and face time as possible with teammates to combat isolation.”
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.