Living and Working with Purpose in a Transforming World: what we learnt from Deloitte’s 2024 Survey about Gen Z and Millenials
Deloitte’s 2024 Gen Z and Millennial Survey, marking its 13th annual edition, connected with over 22,800 respondents across 44 countries to explore their attitudes about work and the world around them. As many countries head to the polls, the survey reveals that Gen Zs and millennials are cautiously optimistic about the future despite significant concerns.
Economic Outlook
Nearly one-third of Gen Zs (32%) and millennials (31%) believe their country's economy will improve in the next year, a sentiment at its highest since the 2020 pre-pandemic survey. This optimism extends to personal finances, with 48% of Gen Zs and 40% of millennials expecting financial improvement. However, financial insecurity remains a significant concern, with many living paycheck-to-paycheck.
Workplace Progress and Challenges
Despite economic uncertainties, respondents feel their employers have continued to make progress in areas such as work/life balance, flexibility, DEI, and environmental protection. However, the cost of living, unemployment, climate change, mental health, and crime remain top concerns. Gen Zs and millennials are also wary of how Generative AI (GenAI) could impact their careers, expressing both excitement and concern about its potential.
Purpose-Driven Work
The survey highlights the importance of purpose in work. A vast majority of Gen Zs (86%) and millennials (89%) say that having a sense of purpose is crucial to their job satisfaction and well-being. Many are willing to reject assignments or employers that don’t align with their values, indicating a strong preference for organizations that positively impact society. This desire for purpose is reflected in their career decisions and consumer behaviors, with many willing to pay more for sustainable products and services.
Environmental Sustainability
Environmental sustainability remains a top priority for these generations. A significant portion (62% of Gen Zs and 59% of millennials) feel anxious about climate change. They actively seek to minimize their environmental impact and expect businesses and governments to take stronger actions to address climate challenges.
Deloitte’s survey underscores the evolving expectations of Gen Zs and millennials, who demand meaningful, purpose-driven work and proactive environmental stewardship from their employers. As the world continues to transform, these generations are poised to drive significant social and economic changes.