Money worries | Majority of Gen Z considering second jobs to cope with living costs

More than half of Gen Z workers in the UK are considering taking on a second job to help cover basic living costs, according to new research that highlights the growing financial pressure on younger employees.

The study, based on responses from over 5,600 working adults, found that financial pressure is the biggest motivator for all generations for driving the uptake of side hustles (71% of Millennials, 69% Gen X, 59% Baby Boomers and 57% of Gen Z) to make ends meet. The findings, published by Boostworks, a leading provider of employee reward and recognition, benefits delivery and wellbeing solutions, suggest the cost-of-living crisis is reshaping how the younger workforce engages with work, rest, and their primary employers.

The research revealed that 19% of Gen Z and 11% of Millennials are already working a second job, with many others weighing up the impact on their time, energy, and wellbeing. Nearly half of Millennials (49%) and 44% of Gen Z said that financial stress was directly affecting their ability to concentrate at work.

Jo Werker, CEO at Boostworks, said: “The vast majority of young workers are taking on second jobs because they simply can’t make ends meet. It’s draining - mentally, physically and financially. When people are stretched this thin, it’s hard to stay focused or engaged.  Employers may want to consider whether their current packages are keeping pace with what employees are really facing day to day."