A striking 86% of Gen Z and 89% of millennial respondents indicated that having a sense of purpose is vital to workplace satisfaction. This is reflected in their willingness to make career decisions based on personal ethics and values. Approximately half of Gen Z (50%) and over 40% of millennials have turned down assignments that did not align with their values, citing negative environmental impacts, inequality, and lack of support for mental well-being and work/life balance.
The survey also illuminates the broader social and economic context impacting these generations. Despite grappling with financial challenges, including living paycheck-to-paycheck and experiencing high-stress levels, there is notable resilience and adaptability. Nearly a third of respondents believe that the economic situation in their countries will improve over the next year, marking the highest level of optimism since the onset of the COVID-19 pandemic. This resilience and optimism bode well for the future, instilling confidence in the potential of these generations as future leaders.
Environmental sustainability emerges as a pivotal area where Gen Z and millennials seek purpose. A significant 60% of respondents expressed anxiety about climate change, and many are not just passively concerned but are actively pressuring their employers to take substantial action on this front. This proactive stance, where they are willing to pay more for environmentally sustainable products, underscores their commitment and the potential for positive change.
Environmental sustainability is one way Gen Z and Millennials seek purpose.
Moreover, the survey underscores the importance of work/life balance, which remains a top priority for these generations. This balance is not just about flexible working hours but also about meaningful work that aligns with their personal values and societal concerns. Despite an increasing trend towards on-site work, which has had mixed outcomes on stress and productivity levels, maintaining a positive work/life balance remains crucial. Understanding their needs can help businesses create a more supportive and fulfilling work environment.
Interestingly, the survey also explores attitudes towards technology, particularly generative AI (GenAI). While significant uncertainty exists about its impact, those who frequently use GenAI at work tend to view it more positively, believing it could enhance their work/life balance and efficiency.
The Deloitte Global 2024 Gen Z and Millennial Survey highlights an apparent demand for purpose-driven work environments. These generations prioritize jobs that align with their values, support their mental and physical well-being, and contribute positively to societal and environmental issues. By recognizing and adapting to these priorities, businesses can attract and retain talent from these influential demographic groups and foster a more engaged and productive workforce, leading to potential growth and success.
You can read the full report on Deloitte’s website for a deeper dive into the survey findings.
Comments