Main Findings
- As Gen Zs and millennials rethink the role of work in their lives, work/life balance remains a top priority with flexible work arrangements, including part-time jobs growing in popularity
- Gen Zs and millennials cite the cost of living as their top societal concern, with more than half of respondents saying they live paycheck to paycheck
- Stress and anxiety levels remain high, driven by financial and environmental concerns, as well as workplace pressures
- Gen Zs and millennials want employers to help prepare them for the transition to a low-carbon economy
Deloitte’s 2023 Gen Z and Millennial Survey explores how the disruptive events of the last three years have shaped respondents’ lives and views. As the COVID-19 pandemic recedes, the report looks at how Gen Zs’ and millennials’ experiences in the workplace have evolved and finds that, while the pandemic clearly left significant negative legacies, it also ushered in some positive workplace trends. The survey looks broadly at the progress these generations feel their employers have made, where there is still work to do, and where potential setbacks may occur. It also explores how Gen Zs and millennials continue to make lifestyle and career decisions based on their values.
Now in its 12th year, the survey gathers insights from more than 22,000 Gen Z and millennial respondents across 44 countries. Their responses reveal that, while they acknowledge some positive change, they remain deeply concerned about their futures. The report underscores continuing concerns about personal finances, climate change, and mental health, and examines Gen Zs’ and millennials’ shifting relationship with work.
“Gen Zs and millennials are striving for better work/life balance. They are also values-driven, concerned about the environment, the state of the world, and the future they see developing ahead of them. They’re looking for employers who can help empower them to make a difference. Organizations that actively listen and help address their needs and concerns will improve business resiliency and implement actionable change in our world.”
Michele Parmelee, Deloitte Global Deputy CEO and Chief People and Purpose Officer.
Employers can—and must—act
As businesses face new headwinds, it will be important to talent recruitment and retention efforts for employers to maintain the progress they’ve made and help drive greater momentum.
“Gen Zs and millennials are facing a unique combination of challenges during a pivotal point in their lives as they progress in their careers, grow their families, and care for loved ones,” adds Parmelee. “It is crucial for employers to understand these generations and continue to drive progress on the challenges that matter most to them. This will not only help boost productivity and retain talent—it will ultimately build trust and value for business in society more broadly.”
To learn more about the Deloitte Global 2023 GenZ and Millennial Survey and the Mental Health Deep Dive based on the findings,
please visit:
www.deloitte.com/genzmillennialsurvey.
Methodology
The Deloitte Global 2023 Gen Z and Millennial Survey reflects the responses of 14,483 Generation Zs and 8,373 millennials (22,856 respondents in total), from 44 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa, and Asia Pacific. The survey was conducted using an online, self-complete-style interview. Fieldwork was completed between 29 November 2022 and 25 December 2022.