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Don’t expect grandkids any time soon: Gen Z are redefining what ‘having it all’ means

Don’t expect grandkids any time soon: Gen Z are redefining what ‘having it all’ means

Younger workers still want success and family life – but new research shows soaring costs, burnout and changing priorities mean many are rewriting the timeline completely.

Hannah Silverman

Published: June 1, 2026 at 12:29 PM

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For many of us (cough) older workers, working long hours and saying “yes” was once seen as the pathway to success. We grinned, we bared it, and we juggled, believing that’s what it took to “have it all.”

But new findings from Deloitte’s 2026 Gen Z and Millennial Survey suggest younger workers have a different interpretation of what “having it all” actually means. Rather than accepting the same trade-offs, they are questioning them – ranking work-life balance as their top career priority.

At the same time, 46% of Gen Zs and Millennials in the UK say they are delaying major life decisions, including starting families, because of financial pressure.

These findings suggest a changing workforce, but what’s driving the shift?

We speak to experts about what workers want and what this means for careers, ambition, and family life across generations.

What’s important to workers today

A healthy work-life balance is considered the Holy Grail of employment, but arguably it hasn’t always been taken seriously. Now the wheels of change are in motion.

“Work-life balance has been an increasingly important factor to younger people for a while now,” explains career coach Hannah Salton.

“Without it, so many parts of our lives will be impacted – health, relationships, friendships, family – so it doesn't surprise me that it's still ranked so highly.”

The Deloitte study shows that while most (84% of Gen Zs and 73% of Millennials) still aspire to leadership at some stage, few expect immediate promotions.

Instead, many want gradual progression, with only 5% of Gen Zs and 3% of Millennials saying it is their primary career goal.

Almuth McDowall, professor of organisational psychology at Birkbeck University of London, says the shift is less about rejecting ambition and more about recalibrating goals in-line with current conditions.

We've witnessed a real reluctance and fear to step forward into leadership roles. And being fair, the fear is rational. There's so much more to deal with.

Almuth McDowall, professor of organisational psychology

Prof. McDowall says this includes managing hybrid working well, embedding AI, and leading a workforce who on average has lower levels of mental wellbeing.

Deloitte’s study also cites barriers to leadership globally are stress and burnout (50% of Gen Zs and 49% of Millennials), excessive responsibility (50% of Gen Zs and 48% of Millennials), and concerns about work-life balance (41% of Gen Zs and 46% of Millennials).

And although the majority of UK respondents say their mental health is good, family health, finances, and long working hours are sources of anxiety. Furthermore, around one third say they feel stressed all or most of the time.

The importance of wellbeing

Father Reading Book With Daughter Before Going To Work

Earlier research echoes the Deloitte study, with a 2024 report observing that employees are paying more attention to having more time with family or their personal life.

That study advises workplaces to implement policies and practices that support a healthy work-life balance, with notable benefits to wellbeing, such as mental health, job satisfaction, and productivity.

But while these areas may have been on worker’s wish lists for generations, they are now (perhaps, finally) emerging as the priority.

We are in a world where there is more understanding and evidence of the overwhelm and burnout.

Tara Quinn-Cirillo

Tara Quinn-Cirillo, a psychologist who features on CBeebies Parenting Podcast, says there’s now a realisation of the fallout of the have it all phenomenon.

“We are in a world where there is more understanding and evidence of the overwhelm and burnout and the wider mental health implications.”

Much of this is down to witnessing how earlier generations juggled their own work-life balance, says Salton.

“Many have seen what happens when you don't have it—burnout, stress, and sometimes not even feeling satisfied when you do reach the higher rankings of the rat race,” she says.

“It has allowed younger generations to take a step back and think about what they want for themselves and their future. For older millennials and Gen X, work-life balance was often something you hoped to negotiate around your career, rather than a starting point.”

A good work-life balance can have a positive impact on families, too, says Audrey Tang, AFBPsS, a chartered psychologist and author of The Leader’s Guide to Wellbeing.

“Many families would also prefer that the breadwinner is happy and healthy—and able to spend quality time with them outside work, than be giving their all to a job which is affecting them mentally and physically.”

The impact of the cost of living

Kate Sweeney, partner and human capital lead at Deloitte UK, says the cost of living is also having a strong impact on career decisions.

“For the fifth year running, the cost of living is casting a shadow over Gen Z and Millennials in the UK, forcing a 'maybe later' mentality on major life and career milestones, such as getting married or taking on a leadership role,” she says.

“Despite financial pressures, their pursuit of good work-life balance remains paramount. This isn't just a preference; it's a non-negotiable, reflecting a profound shift in workplace values and a conscious prioritisation of wellbeing.”

So what do Gen Z women want?

Young businesswoman wearing headphones while on video conference call sitting at long wooden desk in modern office. Bright windows in background with laptop, paperwork and plants on desk, online meeting, video call, connection, generation Z

Prioritising wellbeing in the workplace doesn’t mean women are choosing career over family, or vice versa.

“I think we need to be careful not to frame this as women 'rejecting' ambition or family life,” says Madeleine Wyatt, Associate Dean, Equality, Diversity & Inclusion at King’s College London.

“The “have it all” narrative often turns structural problems around work and care into individual problems for women to solve. What many women seem to be questioning is not success itself, but models of work built around long hours, constant availability and unrealistic expectations of flexibility.

“Organisations need to put proper support structures in place, and that also means supporting men to participate more fully in caregiving through flexible work and parental leave, rather than continuing to treat work-life balance primarily as a women’s issue.”

Prof. Almuth agrees, “It's fair to say that there's more awareness of meaning in life and more consideration of what it takes to build a career,” she says.

Where does this leave older generations?

Deloitte says that as large numbers of Baby Boomer and older Generation X workers approach retirement, organisations face increasing risk around knowledge continuity. Barriers to this include limited incentives for sharing knowledge, a lack of time and high turnover of staff.

As a result, the report suggests that only half of Gen Zs and Millennials believe their teams could maintain performance if a key expert left tomorrow.

But there’s another issue too. A lack of support alongside changes in digital technology, including AI, may put off some older people returning to work.

It's always been tricky for women returning to work, and there isn't enough support in place from employers and the government to support the transition

Hannah Salton, career coach

Dr. Quinn-Cirillo notes that the type of industry can also impact how successfully workers reintegrate into their careers.

“In some areas things are changing so fast that returning [workers] are just not able to complete—more people, fewer jobs and AI taking over jobs are all key factors.”

She adds that fear of judgement at work and at home can create competing anxieties that make achieving a healthy work-life balance feel like a challenge.

Not just a concern for women

Importantly, Dr. Wyatt emphasises that this isn’t only a female problem, and it’s not just younger women who are delaying marriage and kids.

These pressures are increasingly affecting both men and women, but gender inequality still shapes how they are experienced

Madeleine Wyatt, Associate Dean, Equality, Diversity & Inclusion at King’s College London

“Men and women are making these decisions within the same wider economic and workplace pressures, including high living costs, insecure work and concerns about whether workplaces genuinely support combining work and family life sustainably.”

Is it possible to ‘have it all’?

Young mother working from home with her baby boy laying next to her

Success is a deeply personal construct, and therefore having it all will always come with a variety of definitions.

Dr. Tang makes it clear we can’t judge people on our own experiences.

“What seems "unambitious" to you might be perfectly fulfilling to the person who is living that life—and perhaps they have other preferences and choices which they want to make that give them great (albeit different) fulfilment,” she says.

It's not necessarily a direct rejection of having it all; it's more about changing what having it all looks like.

Dr Tang

Salton suggests a mind shift is what’s needed.

“For elder millennials like myself, it's not necessarily a direct rejection of having it all; it's more about changing what "having it all" looks like,” she says.

“"It all" perhaps used to mean a thriving family life and a thriving 9-to-6 job, whereas now it might mean working less but enjoying the work we do more, or potentially earning less money but having more flexibility and freedom to enjoy what we do spend our money on.”

Salton adds that awareness, curiosity and communication are key across all generations.

“People as a whole are all unique, and while there can be generational trends, sometimes lumping people into categories doesn't actually help,” she says.

“Getting to know the individual and being curious about their working patterns is a good start. Open, honest and kind communication is also important to resolve differences between all generations.”

Authors

Hannah Silverman