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2023 Gen Z and
Millennial Survey

The 12th edition of Deloitte’s Gen Z and Millennial Survey looks back to see how the last three years have impacted these generations and finds that while they acknowledge some positive change, they remain deeply concerned about their futures.

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The survey of more than 22,000 Gen Zs and millennials across 44 countries examines their shifting relationship with work, how they continue to make lifestyle and career decisions based on their values, and underscores continuing concerns about finances, climate change, and mental health.

Gen Zs and millennials recognize progress, but they are expecting more.

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Employers have made progress since pre-pandemic times, but business is still not meeting expectations

Satisfaction with work/life balance and employer's DEI and societal impact efforts have improved.

While these positive trends show Gen Zs and millennials are slightly more satisfied with their own employers, they are not convinced that business more broadly is having a positive impact. And new setbacks are hampering their ability to plan for their futures.

Progress since 2019

The high cost of living looms large for Gen Zs and millennials

Once again, the high cost of living is the top societal concern for both Gen Zs and millennials, ahead of unemployment and climate change.

Half of Gen Zs and millennials say they live paycheck to paycheck. And they are taking on side jobs to make ends meet.

Economic uncertainty is causing them to postpone big life decisions—many say it will become harder or impossible to buy a house, start a family, ask for a promotion, or start a new job if the economy doesn’t improve.

Gen Zs and millennials are facing increased financial concerns year over year

Gen Zs and millennials are rethinking the role of work in their lives

The pandemic prompted a rethinking of the role work plays in their lives. While 49% of Gen Zs and 62% of millennials say work is central to their identity, they place a strong focus on work/life balance—the top trait they admire in their peers, and their top consideration when choosing an employer.

To help them achieve better balance, Gen Zs and millennials want flexibility in where and when they work. Many respondents now work in hybrid or remote work patterns, a benefit they value deeply.

Gen Zs and millennials would also like their employers to offer better career advancement opportunities for part-time employees, more part-time jobs overall, and the option for more flexible hours for full-time employees, for example the ability to work condensed four-day work weeks.

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77% of Gen Zs and 75% of millennials who are currently in remote or hybrid roles would consider looking for a new job if their employer asked them to work on-site full-time.

Employers' efforts to improve mental health support are having a positive impact, but stigma remains

Nearly half of Gen Zs and four in 10 millennials say they feel stressed all or most of the time.

The majority of respondents consider mental health support and policies to be very important when considering a potential employer. And many respondents believe that their employers are taking mental health seriously and driving positive change.

But, despite this progress, mental health support and resources are still under-utilized, and many don’t feel they can talk to their employers about mental health.

Those who...

Climate change is a major concern for Gen Zs and millennials. It’s impacting their lifestyle and career decisions

Six in 10 Gen Zs and millennials say they have felt anxious about the environment in the past month, and these concerns are impacting their career and lifestyle decisions. About one in six have already changed jobs or industries due to climate concerns, with another quarter planning to do so in the future.

They want to be empowered to drive change within their organizations. And about half of Gen Zs and millennials say they are pressuring businesses to act on climate change, yet few respondents say they feel able to influence their organization’s sustainability efforts.

Gen Zs and millennials want their employers to support and empower them to make more sustainable decisions in their own lives, and to develop the skills needed for the transition to a low-carbon economy.

Those who...

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Gen Zs and millennials are facing a unique combination of challenges during a pivotal point in their lives as they progress in their careers and plan for their futures. It is crucial for employers to understand these generations and continue driving progress on the issues that matter most to them. This will not only help boost productivity and retain talent—it will ultimately build trust and value for business in society more broadly.

Employers can—and must—act. As businesses face new headwinds, it will be important to stay focused on maintaining the progress they've made and driving greater momentum.