Table of contents
Executive summary: A desire for reassurance1
Survey methodology 3
Are millennials losing faith in business 5
Diversity defned10
An opportunity for leaders 13
Outlook for the world and themselves14
Loyalty, turnover and the pull of the gig economy 17
Empowerment and development in a digital world 22
Conclusion: What do young workers want 27
References 28
1 2018 Deloitte Millennial Survey
Executive summary:
A desire for reassurance
To prosper over time, every
company must not only deliver
fnancial performance, but
also show how it makes a
positive contribution to society.
Companies must beneft all of
their stakeholders, including
shareholders, employees,
customers and the communities
in which they operate.
BlackRock CEO Larry Fink1
T
he millennial generation is feeling uneasy
about the future. The growth of Industry 4.0
technologies—from robotics and the internet
of things to artifcial intelligence and cognitive—has
altered the nature of work, while political upheavals
challenge the established world order. In this
environment, millennials and Gen Z yearn for leaders
whose decisions might beneft the world—and their
careers.
Building on last year’s report,2 the seventh
annual Deloitte millennial survey delves into
respondents’ perceptions of the evolving threats and
opportunities in an increasingly complex world.
For the frst time, the survey also includes opinions
of Generation Z3—those following millennials into
the workplace.
In a fragmenting social and political environment,
with Industry 4.0 driving profound changes,
many millennials are exhibiting a marked desire
for reassurance. They feel pessimistic about the
prospects for political and social progress, along
with concerns about safety, social equality and
environmental sustainability. While young workers
believe that business should consider stakeholders’
interests as well as profts, their experience is
of employers prioritizing the bottom line above
workers, society and the environment, leaving them
with little sense of loyalty.
2 2018 Deloitte Millennial Survey
Among this year’s key fndings:
Perceptions of business are
heading south. Millennials’ opinions about
business’ motivations and ethics, which had
trended up the past two years, took a sharp
turn downward. There continues to be a stark
mismatch between what millennials believe
responsible businesses should achieve and what
they perceive businesses’ actual priorities to be.
Diversity and fexibility are key to loyalty.
Good pay and positive cultures are most likely
to attract both millennials and Gen Z, but
diversity/inclusion and fexibility are important
keys to keeping them happy. Many respondents,
especially in emerging markets, view the gig
economy as an attractive alternative or adjunct
to their jobs.
Young workers feel unprepared for
Industry 4.0. Millennials expressed admiration
for corporations that are adapting to and
advancing Industry 4.04 and developing their
people to succeed in this evolving business
environment. Respondents lack confdence
that they can succeed in an Industry 4.0
environment and are looking to businesses
to help them develop the necessary skills,
including the “soft” skills they believe will be
more important as jobs evolve.
As seen in previous surveys, companies and
senior management teams that are most aligned
with millennials in terms of purpose, culture and
professional development are likely to attract
and retain the best millennial talent and, in turn,
potentially achieve better fnancial performance.
Loyalty must be earned, and the vast majority of
millennials are prepared to move, and move quickly,
for a better workplace experience.
The message is clear: Young workers are eager
for business leaders to be proactive about
making a positive impact in society—and to
be responsive to employees’ needs.
Millennials want leaders to more aggressively
commit to making a tangible impact on the world
while preparing their organizations and employees
for the changes that Industry 4.0 is efecting.
One silver lining is that far more millennials
believe that business leaders are making
a positive impact on the world than government
or religious leaders. Even so, four in 10 respondents
see business leaders having a
negative
impact.
Therefore, the timing is ideal for business leaders
to step up and take actions that beneft
all
of
their stakeholders.。