What Gen Z and millennials want from today's employers: insights from Deloitte's 2024 survey

As September brings the winds of change, we decided to check which direction they're blowing. And we have some interesting findings to share! Deloitte's annual "2024 Gen Z and Millennial Survey" involved over 22,800 respondents from 44 countries, exploring their attitudes towards work, societal issues, and future prospects.

Its findings cover 6 key topics: social and economic outlook, purpose and workplace satisfaction, environmental sustainability, Generative AI (GenAI) at work, work/life balance & flexibility, and mental health.?

These insights can help organizations better align their practices with the changing needs of younger generations. So, without further ado, let's explore the survey's key findings.

Economic outlook and personal finances

• About one-third of Gen Zs (32%) and millennials (31%) are optimistic about their country's economy improving next year. This marks the highest optimism since the 2020 pre-pandemic survey.
• Nearly half of Gen Zs (48%) and 40% of millennials expect better personal finances, but many still feel financially insecure, with over half living paycheck-to-paycheck.
• Political uncertainty remains a concern; only a quarter of both generations expect positive political changes in their country next year.

Purpose and workplace satisfaction

• A strong sense of purpose is vital for job satisfaction, with 86% of Gen Zs and 89% of millennials emphasizing its importance for their wellbeing.
• About 75% of respondents value community engagement and societal impact when choosing an employer.
• However, there is a perception gap: while most respondents feel positive about their own employers' efforts, less than half believe that businesses overall positively impact society.

Environmental sustainability

• Climate anxiety is high, with 62% of Gen Zs and 59% of millennials expressing concern about climate change.
• Both generations are willing to change jobs to align with their environmental values and often research company practices before making purchasing decisions.
• They strongly support government and business actions that promote sustainable choices.

Generative AI (GenAI) at work

• Opinions on GenAI are mixed, but more experienced users tend to be optimistic about its benefits, like improved work/life balance and efficiency.
• Key concerns revolve around job loss from automation and challenges for younger people entering the workforce.
• Despite the uncertainties, 38% of Gen Zs and 36% of millennials plan to participate in GenAI training in the next 12 months.

Work/life balance and flexibility

• Work/life balance is the top priority for both Gen Zs and millennials when choosing an employer.
• The recent shift towards more on-site work has had mixed effects on stress, productivity, and collaboration.
• Flexibility in work location and hours is increasingly valued, with non-traditional roles like part-time and gig work gaining popularity.

Mental health

• Only about half of Gen Zs (51%) and millennials (56%) rate their mental health as good, indicating that stress remains a significant issue.
• The main stressors include finances, family obligations, long work hours, and lack of recognition at work.
• While many feel their employers are making positive changes related to mental health, stigma and discomfort around discussing it at work persist.

德勤 's 2024 survey highlights how Gen Z and millennials are reshaping the workplace, with mental health, work/life balance, and purpose-driven work topics taking over the stage. These evolving priorities reflect a broader shift in how younger generations view their roles within organizations.

Work culture today is more than just clocking in and out

A modern approach to work goes beyond just a paycheck and respectful colleagues. It’s no longer enough for businesses to just be profitable; they need to contribute positively to society. "It’s about aligning with a purpose, promoting mental health, and ensuring the sustainability of the business. The new generation has definitely raised the cultural bar for employers,” says Beatrice Leikaite , our Head of HR.

In a way, work is no longer confined to the 9-to-5 routine. “In today’s digital world, emails and chats are available at all times. That’s why a strong work culture that supports work/life balance is so crucial. Employees want autonomy and ownership over their work, and they expect leadership that is open and works side by side with them, not above them,” Beatrice explains.?

Mental health is a priority, not a perk

We also see that mental health is no longer a secondary concern. "It has become an integral part of workplace culture, especially post-pandemic," says Beatri??. "Employees now expect companies to create environments where they feel comfortable discussing their mental wellbeing." Similarly, a long-term approach to mental health is essential. As Au?ra Ma?ernien? , our HR Business Partner, explains: “Organizations must go beyond the physical workspace and focus on the mental and emotional needs of their employees.” Offering support — like paid counseling or flexible work policies — will likely become a baseline expectation that fosters a more motivated and engaged community.

Embracing the change

By embracing these shifts, companies can forge deeper connections with their teams, creating workplaces that inspire growth, innovation, and a shared commitment to a brighter future.