Millennial Survey 2019: Findings from Ireland
A generation disrupted – how can you engage with millennials as employees and consumers?
In business, disruption can promote innovation, growth, and agility. That, in turn, creates powerful and progressive business models, economic systems, and social structures. But unbridled disruption also has a downside, one that’s apparent in the 2019 Millennial Survey.
Climate change top concern amongst Irish millennials
Irish millennials continue to be disillusioned with traditional institutions, are sceptical of business’ motives and pessimistic about economic and social progress, according to the 2019 Deloitte Millennial Survey. Just 28 per cent of Irish respondents believe the economy will improve in the next 12 months, and nearly half identified climate change and protecting the environment as their most pressing concern.
“From the economic recession a decade ago to the Fourth Industrial Revolution, millennials have grown up in a unique moment in time impacting connectivity, trust, privacy, social mobility and work,” says Valarie Daunt, Head of Human Capital at Deloitte Ireland.
This year's findings of the survey show that the ambitions of this generation remain strong. It is interesting to note that Irish millennials are especially driven to travel the world (67 percent). Earning a high salary and being wealthy ranked second (64 percent) among ambitions, but came in last when respondents were asked whether their ambitions were achievable.
Half of Irish respondents want to have a positive impact in their communities or on society at large. This ambition continues with climate change and protecting the environment being the top concern amongst Irish millennials, as indicated by 48 per cent of respondents, significantly higher than the global average of 29 per cent.
Over the years, a pattern has emerged which indicates an increasingly pessimistic millennial outlook on economic, social and political affairs. Only 28 percent believe the economy will improve in the next 12 months, which is significantly lower than in previous years.
Income inequality and the lack of social mobility were likely factors driving economic pessimism, highlighting the negative impact of an uncertain, unequal environment.
They have a love/hate relationship with technology
Interestingly, although millennials are the first generational cohort of digital natives, they remain rather distrustful and apprehensive of the consequences of their digital behaviours. Irish millennials view social media as harmful with 65 per cent believing they would be a happier person with reduced usage of social media.
Cybersecurity concerns also loom large. As 85 percent are concerned they’ll be victims of online fraud, and a quarter of millennials have curtailed consumer relationships because of companies’ inability to protect data.
About the Survey
Deloitte’s 2019 global survey marks the largest to date, with 13,416 millennial respondents across 42 different countries and 3,009 Gen Z respondents across 10 countries. In Ireland, there were 300 millennials participants in total. Read the global report here.