Work is no longer all about the money

The world of work has changed significantly this decade. The pandemic not only highlighted that it’s possible to work in different ways but also provided a catalyst for people to really think about what work they are doing and why.

LinkedIn data shows one third of UK professionals would accept a pay cut for a role that had greater purpose^[1]. This figure rises to almost half of those in Gen Z.

Work is no longer just about the monthly pay cheque, although that is still important. It has a much larger impact on how we see ourselves and how others see us.

Feeling what you do is worthwhile and that it makes a positive difference is vital to the youngest members of the workforce. 89% of Gen Z workers and 92% of Millennial workers consider a sense of purpose to be important to their job satisfaction and wellbeing^[2].

Our recent survey with 2,420 working people supports this shift in attitudes. 70% of respondents said they take a lot of pride in the job or work they do, with more than a third (35%) strongly agreeing with this statement.

Interestingly, it isn’t just younger workers who say they take pride in their work. 72% of respondents who are Boomers – those aged between 60 and 78 – agreed with this statement, the same percentage as respondents who are Millennials.

For many, work has a fair wider remit than providing money to live on. It provides value and purpose which people can be proud of. If they are unable to work through illness or injury for weeks or even months, they are not just losing out financially, their confidence and self-worth can also be severely affected.

The pandemic not only changed how work is viewed, but it also showed that anyone can get ill at any time. Our survey last year with 2,000 UK adults underlines this. Over a quarter of respondents (27%) said they had taken a month or more off work due to illness during their working lives. The average time these people had spent off sick was four and a half months. Nearly a quarter (23%) had taken six months or more off work, a substantial time to be away from their usual roles and being able to contribute to society.

Our research highlighted taking a month or more off work is far from unusual. This is most likely to be the result of an accident or a common complaint, such as back pain, which can afflict anyone. Even just a few weeks off work can begin to dent confidence and erode good mental health.

The support services offered through income protection such as 24/7 GP virtual services or mental health counselling, can be hugely valuable, offering help straightaway that can mitigate the self-doubt which can take over when you are unable to do that thing that partially defines you.

Just talking about the financial benefits of income protection misses the point. It does so much more than pay your bills. It supports you in getting back to the life that you had, helping you do the things that give you pride and satisfaction. The added value services are an integral part of the proposition and should be a primary part of any conversation, not an afterthought.

^{[1] The Big Shift: What UK Workers Really Want In 2025 | Forward Role}

^{[2] Deloitte Global Gen Z and Millennial Survey 2025}