Insight
Gen Z and Millennial Survey 2024
Lack of learning and development opportunities is causing young adults to quit their jobs. Deloitte’s Gen Z and Millennial Survey 2024 shows that meaningful work, salary and learning opportunities can be the determining factors for Danish young adults aged 20-44 in choosing or rejecting companies.
The lack of learning and development opportunities is the main reason why young adults between the ages of 29-44, the so-called millennials, quit their jobs. For the slightly younger generation, Gen Zs aged 20 to 29, it is the second most important reason, surpassed only by salary. Nikolaj Malchow-Møller, partner and Head of People & Purpose at Deloitte, explains:
It is an important message to employers at a time when everyone is talking about lifelong learning, but few have cracked the code.
In addition to the lack of learning and development opportunities, a lack of flexibility and salary can cause millennials and Gen Zs to reject an employer, while a good work-life balance or a meaningful job can cause them to choose an employer.
Climate and the meaning of life are still important factors
Both of these generations are cautiously optimistic when it comes to the world's economic situation. However, concerns about the planet's climate are the most pressing issues for Danish Gen Zs and millennials, just like last year. In comparison, their global peers are most concerned about living costs, followed by climate change, unemployment and crime.
Both generations are aware of their values and ready to stand up for them. Approximately half of Gen Zs and millennials have turned down a task or employer due to ethics. And six out of ten feel that there is a fair or strong degree of correspondence between their current employer's values and their own.
Additionally, four out of ten believe that companies have a right or very positive impact on the rest of the community. This includes everything from protecting the environment, human rights, mental health, access to education, poverty and the ethical use of technology. Their global peers believe even more strongly that companies have a role to play in social development.
"If you combine this with the fact that the environment is their biggest concern and that more than eight out of ten young adults find 'purpose' important for their job satisfaction, it points to an important priority for employers who want to attract and retain young talent," says Nikolaj Malchow-Møller.
About the research
The 2024 Gen Z and Millennial Survey solicited the views of 14,468 Gen Zs and 8,373 millennials (22,841 respondents in total), from 44 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa and Asia Pacific.
Fieldwork was conducted between November 2023 and March 2024.
As defined in the study, Gen Z respondents were born between January 1995 and December 2005, and millennial respondents were born between January 1983 and December 1994.