Fostering a culture of entrepreneurship and innovation
Making an impact that matters
Flexible working: Striking a balance
Millennials’ values do not change as they progress professionally
The Deloitte Millennial Survey 2016
Two-thirds of Millennials express a desire to leave their organization by 2020. Businesses must adjust how they nurture loyalty among Millennials or risk losing a large percentage of their workforces.
Millennials appear to be steered by strong values at all stages of their careers; it’s apparent in the employers they choose, the assignments they’re willing to accept, and the decisions they make as they take on more senior-level roles.
Globally, 56 percent of Millennials have “ruled out ever working for a particular organization because of its values or standard of conduct.” Almost half (49 percent) have “chosen not to undertake a task at work because it went against their personal values or ethics.” This increases to 61 percent among those in senior positions. Geographically, the level of “refusal” ranges from 20 percent in Japan to 71 percent in Colombia, and is generally high in Latin America. So, while they may judge the impact of business to be positive, and think business behaves in an ethical manner, most Millennials have no problem standing their ground when asked to do something that conflicts with their personal values.
When asked to state the level of influence different factors have on their decision making at work, “my personal values/morals” ranked first. More than half (55 percent) said this had a very high degree of influence with “personal goals and ambitions and career progression” (51 percent) ranking second. “Meeting the organization’s formal targets or objectives” ranked only fifth of the seven factors measured.
Personal values have the greatest influence on Millennials' decision-making
Traditional personal goals
Survey respondents indicate little desire to be famous, have a high profile on social media, or accumulate great wealth. Instead, in broad terms, Millennials’ personal goals are more traditional. They seek a good work/life balance, they want to own their own homes, they desire a partner for life, and they strive for financial security that allows them to save enough money for a comfortable retirement. The ambition to make positive contributions to their organizations’ success and/or to the world in general also rates highly.