What are our millennials and Gen Zs really thinking?
Deloitte research reveals climate change is the #1 concern for both millennials and Gen Zs this year. Their view of government, business and the economy is also at record lows. Growing up in a world of accelerated transformation leaves both generations feeling unsettled about the future.
Despite current global economic growth, expansion and opportunity, millennials and Generation Z are expressing uneasiness and pessimism about their careers, their lives and the world around them, according to Deloitte’s eighth annual Millennial Survey. In the past two years especially, we’ve seen steep declines in respondents’ views on the economy, their countries’ social/political situations, and institutions like government, the media and business. Organisations that can make the future brighter for millennials and Gen Zs stand to have the brightest futures themselves.
• Economic and social/political optimism is at record lows. Respondents express a strong lack of faith in traditional societal institutions, including mass media, and are pessimistic about social progress.
• Millennials and Gen Zs are disillusioned. They’re not particularly satisfied with their lives, their financial situations, their jobs, government and business leaders, social media, or the way their data is used.
• Millennials value experiences. They aspire to travel and help their communities more than starting families or their own businesses.
• Millennials are skeptical of business’s motives. Respondents do not think highly of leaders’ impact on society, their commitment to improving the world, or their trustworthiness.
• They let their wallets do the talking (and walking). Millennials and Gen Zs, in general, will patronise and support companies that align with their values; many say they will not hesitate to lessen or end relationships when they disagree with companies’ business practices, values, or political leanings.