The Deloitte Global 2022 Gen Z and Millennial Survey
Now in its 11th year, the survey finds Gen Zs and millennials are striving for balance and advocating for change.
Gen Zs and millennials are tired of being resilient, they want support and genuine change.
Top concerns among Gen Zs and millennials
This year’s survey finds Gen Zs and millennials deeply concerned about the state of the world, and actively trying to balance the challenges of their everyday lives with their desire to drive societal change.
They are struggling with financial concerns, while trying to invest in environmentally sustainable choices. They feel burned out, but many are taking on second jobs, while pushing for more purposeful—and more flexible—work. They press their employers to tackle climate change, particularly when it comes to efforts they can get directly involved in, but businesses may still be missing opportunities to drive deeper and broader climate action. And they have inspired organizations to take action to address workplace mental health challenges, but many don’t feel this is resulting in any tangible change for employees.
Financial concerns are top of mind
Many worry about their day-to-day finances, and fear that they won’t be able to retire comfortably.
Gen Zs and millennials are seeking balance and opportunities to grow
Pay is the No. 1 reason they left their employers over the last two years. But when it comes to what makes them choose a new organization to work for, good work/life balance and learning and development opportunities are their top priorities.
Top reasons respondents left their jobs...
Top reasons they chose their new jobs...
Pushing for climate action
The vast majority (90%) of Gen Zs and millennials are making an effort to reduce their personal impact on the environment. They don’t believe business and governments are as strongly committed, and many are pushing their own employers to take action.
Many don't believe business and government are strongly committed to fighting climate change
Stress and burnout levels are high, signalling a retention issue for employers
While many organizations are more focused on workplace mental health since the start of the pandemic, there are mixed reviews on the impact.
Burnout levels are high among both generations
More than half agree their organization now talks more about mental health, but it has not resulted in any meaningful impact on employees
Striving for balance and advocating for change
Grappling with the impact of the last few years, the youngest generations in the workforce are seeking balance and sustained change.
In these uncertain times, they are reassessing their priorities and expecting more from business leaders. To attract and retain talent, business leaders should act urgently to shape work models that meet the expectations of their people. Prioritizing work/life balance, learning and development, and well-being will be critical, as will having a clear purpose and giving employees the opportunity to address societal issues through their work.
Partner | Banking and Human Capital Leader
Partner | Banking and Human Capital