Millennials and Gen Z Equally Mistrust Business, But Their Priorities in Choosing Employers Differ
Prague, 18 May 2018 – Doubts about the ethics and motivation of firms and mistrust in own readiness for technological changes – these are the results of the seventh edition of Deloitte’s global survey among Millennials and Generation Z. Moreover, Millennials (born approximately between 1980 and 1995) differ from Generation Z (1995-2010) in their priorities in selecting employers.
In selecting employers, 63% of Millennials cite financial reward as an important factor, followed by a positive work culture and flexibility. Generation Z most frequently cited positive work culture (57%), followed by finances. Flexibility and opportunities for ongoing education shared third place in respect of Generation Z.
Exactly three quarters of respondents from Millennials’ ranks believe that business primarily follows its own interests, rather than seeking a wider social impact. The result is sixteen percentage points higher than the year before. With Generation Z, the percentage is 72%.
When asked whether their firms sufficiently prepare them for the Industry 4.0, only 36% of Millennials and 42% of Gen Z respondents gave positive answers. This is despite the fact that half of respondents in both groups believe that Industry 4.0 will positively influence their work.
This year’s survey also focused greater attention on Generation Z as such. Their five greatest contributions to the working environment as cited by them include social networking skills, creative thinking and idea-making, general technological and IT skills, flexibility and global thinking. However, they believe they lack a professional approach, certain personal traits (such as maturity or patience), industry experience, communication skills and international work experience.
“The survey shows that Generation Z have a notable degree of self-reflection and are aware of their strengths and weaknesses. This is of vital importance if different generations are to work in symbiosis with one another at the workplace, and shows the ability of young people to work on their weaknesses,” says Martina Zapletalová, a Manager at Deloitte’s Human Capital Advisory Services team.