Marking its 11th annual edition, Deloitte’s 2022 Gen Z and Millennial Survey connected with respondents around the globe to gauge their views about work and the world around them. The survey, fielded between November 2021 and January 2022, and the subsequent qualitative interviews, held in April 2022, found Gen Zs and millennials navigating a very uncertain time. When Deloitte fielded last year’s survey, the world was in the midst of the second year of the COVID-19 pandemic, just as vaccines were starting to roll out. It had been a difficult year, but the survey revealed that Gen Zs and millennials were determined to create a better post-pandemic world. Fast forward to 2022 and, unfortunately, economic conditions and quality of life have deteriorated in many parts of the world. Now in the third year of the pandemic, we’re also facing alarming geopolitical conflicts, extreme climate events, inequality, and a steep rise in inflation. Rather than being a temporary condition, disruption seems to have become part of the new normal. This year’s survey found that Gen Zs and millennials are deeply worried about the state of the world and are fighting to reconcile their desire for change with the demands and constraints of everyday life. They are struggling with financial anxiety, while trying to invest in environmentally sustainable choices.
They feel burned out, but many are taking on second jobs, while pushing for more purposeful—and more flexible—work. They press their employers to tackle climate change, particularly when it comes to efforts they can get directly involved in, but businesses may still be missing opportunities to drive deeper and broader climate action. They have inspired organizations to take action to address workplace mental health, but they are not always comfortable talking about these issues or taking advantage of the resources available. The unprecedented circumstances of the past few years have prompted many people around the world to rethink their priorities, leading to the Great Resignation. This time of historic voluntary turnover presents significant opportunities for millennials and Gen Zs. As this year’s survey results indicate, the sustained workplace changes they’ve been asking for—including higher compensation, more flexibility, better work/life balance, increased learning and development opportunities, better mental health and wellness support, and a greater commitment from businesses to make a positive societal impact—are also the strategies that will help employers attract and retain talent.
To download the survey findings in its entirety — go to: https://www2.deloitte.com/global/en/pages/about-deloitte/articles/genzmillennialsurvey.html