Deloitte Global's 2017 Millennial Survey Findings
Deloitte Global’s 2017 Millennial Survey researched the views of almost 8,000 millennials, and with Ireland participating for the first time, 30 countries are now represented. Our ROI perspective is the result of a survey of 200 Irish millennials who were born after 1982 and represent a specific group of this generation: those who have a college or University degree and are employed full-time.
This year’s overarching theme is that of the apprehensive millennial, with our research highlighting an uncertainty about the future and an increased desire for stability. Our research has found that millennials are less likely to leave the security of their jobs in comparison to previous years, are uncertain about what the future will bring, and are increasingly questioning their personal prospects.
Our key findings include:
- 56 percent of Irish millennials are confident that the Irish economy will improve in the next year, but remain somewhat pessimistic regarding political and societal progress with only 30 percent expecting progress to be made
- In the current environment, millennials globally appear slightly more loyal to employers than a year ago. While 38 percent of Irish millennials would choose to leave their current employers in the next two years, 50 percent plan to stay with their current employers for more than two years, and of those, 25 percent are planning on staying for more than five years
- In a period of uncertainty, stability is appealing with 69 percent of Irish millennials preferring full-time permanent employment in comparison to 25 percent who would chose freelance or consultative work
- Overall, Irish millennials have a positive outlook on the impact businesses have on wider society. However, while half of Irish millennials consider businesses to behave in an ethical manner with leaders committed to helping improve society, half believe businesses are still focused on the bottom line and their own agenda
- Flexible working is strongly linked to engagement and seen to make a significant contribution to business performance, however, nearly one in three Irish organisations are reported to offer no flexible working arrangements
- Automation is becoming a feature of working environments and is seen to improve productivity (53 percent), positively impact economic growth (46 percent) and free up time to focus on more creative and value add activities (46 percent)
For businesses seeking to attract, develop, and retain millennial talent, our research offers insight and ways in which Irish organisations may address both the challenges and opportunities presented.
In conclusion, focusing on building a purpose or mission driven culture, an employee value proposition that is employee centric, an agile organisation focused on teams, and seeking ways in which to engage a 21st century workforce (permanent employees, freelance, robotics and other tech) will enable Irish organisations to step up to the challenge and position themselves for success.
The full report on the Irish millennial survey will be published in the coming weeks, in the meantime if you wish to learn more on the global survey, please review the Global 2017 Millennials Survey findings.