Deloitte, a multinational professional services network, has recently released a 2024 Survey on Gen Z and Millennials: Living and working with purpose in a transforming world.
The 13th edition of Deloitte’s Gen Z and Millennial Survey connected with nearly 23,000 respondents across 44 countries to track their experiences and expectations at work and in the world more broadly.
Key Findings
Just under a third of Gen Zs and millennials believe that the economic situation in their countries will improve over the next year.
This reflects the most optimism respondents have shown about the economy since the survey conducted just before the COVID-19 pandemic in 2020.
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Gen Zs and millennials are cautiously optimistic about their personal financial situations, although financial insecurity remains a concern. Approximately 3 in 10 respondents do not feel financially secure, and roughly six in 10 live paycheck to paycheck.
The cost of living remains their top concern, followed by climate change, unemployment, mental health, and crime/personal safety.
Purpose-Driven Work Matters: Deloitte Study
According to the survey, nearly all Gen Zs and millennials prioritize purpose-driven work. Having a sense of purpose is crucial for workplace satisfaction and overall well-being.
These generations are unafraid to turn down assignments or employers that don’t align with their values.
Reasons for rejecting opportunities include negative environmental impact, contributing to inequality through non-inclusive practices, and lack of support for employees’ mental well-being and work/life balance.
86% of respondents say having a sense of purpose is very or somewhat important to their overall job satisfaction and well-being.
Climate Anxiety and Ethical Choices
It has been reported that Gen Zs and millennials are struggling with climate anxiety. The mounting concern about environmental issues influences their decisions at work and beyond.
44% have turned down an employer based on their personal ethics or beliefs, emphasizing their commitment to staying true to their values. 50% have rejected an assignment or project based on their personal beliefs.
Deloitte’s Gen Z and Millennial Survey: Workplace Implications
Employers need to recognize the importance of purpose-driven work. Organizations that align with the values and ethical considerations of Gen Zs and millennials are likely to attract and retain top talent.
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Mental health support, work/life balance, and environmental consciousness should be integral parts of workplace policies. As these generations continue to shape the workforce, businesses must adapt to their expectations and aspirations.
Deloitte Report: Summing Up!
The 2024 Gen Z and Millennial Survey by Deloitte highlights a generation that seeks purpose, values ethics, and remains resilient in the face of uncertainty. Their commitment to making a positive impact, both personally and professionally, will undoubtedly shape the future of work and society.
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