Swiss Gen Z and Millennial Survey 2023
Purpose, flexibility, growth, empowerment: how can organisations attract, retain and engage young talentDespite low economic growth there is a shortage of skilled workers in many areas, increasing the pressure on organisations in the fight for talent, especially in Switzerland. This makes it all the more important for employers to understand the needs, concerns and attitudes of the two youngest working generations, Generation Z and Millennials.
The Swiss Gen Z and Millennial Survey 2023 provides insights into the two younger working generations in Switzerland and compares the results with many EU countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Poland, Portugal, Romania, Spain and Sweden.
Key trends
Work alone does not define Millennials and Gen Z - friends and family are even more important when it comes to defining their sense of identity.
Gen Z has a shorter term horizon when it comes to their current employer than Millennials. Almost 1 in 2 Gen Z plans to quit their job within the next two years while 1 in 3 Millennials are planning to stay for more than 5 years.
The number one reason in Switzerland for both generations to quit their current role was that the work was not fulfilling or meaningful. A lack of competitive pay was also a significant driver of decision-making by Swiss employees when compared to the European average.
Millennials tend to see more advantages than Gen Z regarding working remotely, whereas Gen Z has a higher preference for being present onsite. Nevertheless, both generations very much want to be able to choose where they work from.
45% of Swiss Gen Z currently working hybrid or remotely would look for a new job if they had to work full-time on site.
These generations value balance. 1 in 3 likes the idea of reduced working weeks, and sabbatical programmes are of particular interest to Gen Z and Millennials in Switzerland.
The rising cost of living and climate change are the top concerns for Gen Z and Millennials in Switzerland as well as more broadly across Europe.
Work alone does not define Millennials and Gen Z - friends and family are even more important when it comes to defining their sense of identity.
Gen Z has a shorter term horizon when it comes to their current employer than Millennials. Almost 1 in 2 Gen Z plans to quit their job within the next two years while 1 in 3 Millennials are planning to stay for more than 5 years.
The number one reason in Switzerland for both generations to quit their current role was that the work was not fulfilling or meaningful. A lack of competitive pay was also a significant driver of decision-making by Swiss employees when compared to the European average.
Millennials tend to see more advantages than Gen Z regarding working remotely, whereas Gen Z has a higher preference for being present onsite. Nevertheless, both generations very much want to be able to choose where they work from.
45% of Swiss Gen Z currently working hybrid or remotely would look for a new job if they had to work full-time on site.
These generations value balance. 1 in 3 likes the idea of reduced working weeks, and sabbatical programmes are of particular interest to Gen Z and Millennials in Switzerland.
The rising cost of living and climate change are the top concerns for Gen Z and Millennials in Switzerland as well as more broadly across Europe.
Four key takeaways for Swiss business leaders
Be purpose driven
Embed flexibility into your working practises
Provide tangible growth opportunities
Empower your workforce
Register here to download the study with Swiss results
Contacts
Matthias Thalmann
Human Capital Leader
Veronica Melian
Managing Partner People & Purpose and Human Capital Partner
Teena Madhvani
Human Capital Partner
Research methodology
The survey in Switzerland was conducted among 1,000 Millennials (1983-1994) and 700 from Generation Z (1995-2004) during the first two weeks in March 2023. The respondents were representative regarding gender and region (German, French and Italian speaking parts of Switzerland). The EU data is based on the Deloitte Global 2023 Gen Z & Millennial Survey which was conducted in December 2022 with over 8,000 participants from EU countries.