Deloitte’s 2024 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. The insights gained from the survey can provide guidance to business leaders about the way they attract, retain and manage these generations that may have different values than their own generation.
Nearly all Gen Zs and millennials want purpose-driven work, and they are not afraid to turn down work that doesn’t align with their values. Having a sense of purpose is key to workplace satisfaction and well-being. And increasingly, these generations are willing to turn down assignments and employers based on their personal ethics or beliefs. Reasons for rejecting an employer or an assignment include factors such as having a negative environmental impact, or contributing to inequality through non inclusive practices, and more personal factors such as a lack of support for employees’ mental well-being and work/life balance.
Environmental sustainability continues to be among Gen Zs’ and millennials’ top priorities. It is a personal concern that consistently weighs heavily on them. Protecting the environment is the societal challenge where respondents feel businesses have the most opportunity to drive change. Gen Zs and millennials are pushing business to act through their career decisions and consumer behaviors.
Among both generations, frequent users of GenAI are more likely to believe the technology will have positive effects on their work and improve their work/life balance. But, conversely, the more a respondent uses GenAI, the more likely they are to have some concerns as well, such as believing that GenAI will cause the elimination of jobs, make it harder for younger generations to enter the workforce, or that they’ll have to find job opportunities that are less vulnerable to automation.
Gen Zs’ and millennials’ career and workplace expectations are evolving. Once they do choose an employer, they push for change, particularly when it comes to workload, the services offered to clients, learning and development, DEI, wellness, social impact and environmental efforts.
Work remains key to Gen Zs’ and millennials’ sense of identity. However, they are very focused on maintaining a positive work/life balance. And their strong preference for flexible work is driving greater demand for part-time jobs, job-sharing options, and models such as four-day work weeks for full-time employees.
Gen Zs and millennials have played a significant role in pushing the boundaries of what is expected from employers over the last decade, and they will continue to do so. Employers who listen and adjust their strategies will likely have a more satisfied, productive, and agile workforce who are better prepared to adapt to a transforming world.