A turbulent 2016—punctuated by terror attacks in Europe,
Brexit, and a contentious US presidential election—appears to
have rattled millennials' confidence.
Last year, many millennials seemed to be planning near-term
exits from their employers. But, after 12 months of political and
social upheaval, those ambitions have been tempered, according to
Deloitte Global's sixth annual Millennial Survey. Young
professionals now indicate they're less likely to leave the
security of their jobs, more concerned about uncertainty arising
from conflict, and—especially in developed
countries—not optimistic about their future prospects nor the
directions their countries are going.
The findings are based on the views of almost 8,000 millennials
questioned across 30 countries in September 2016.
Pessimism in developed world runs rampant
Millennials in emerging markets generally expect to be both
financially (71 percent) and emotionally (62 percent) better off
than their parents. This is in stark contrast to mature markets,
where only 36 percent of millennials predict they will be
financially better off than their parents and 31 percent say
they'll be happier.
Economic, social, and political
sentiments: A chasm between the developed and developing world
issues replace environmentalism as top person concerns
"Pro-business," but expecting more
Millennials view business positively and believe it's
behaving in an increasingly responsible manner; 76 percent say
businesses, in general, are having a positive impact on the wider
society in which they operate. However, they also believe
multinational businesses are not fully realising their potential to
alleviate society's biggest challenges.
Business as a force for positive
Unrealised potential of
Making an impact through their employers
Millennials feel accountable for many issues in both the
workplace and the wider world. However, it is primarily in and via
the workplace that they feel most able to make an impact.
Opportunities to be involved with "good causes" at the
local level, many of which are enabled by employers, provide
millennials with a greater feeling of influence.
A sense of empowerment, millennials,
and the "ripple effect"
A preference for plain talk and inclusiveness
Surveyed millennials, in general, do not support leaders who
take divisive positions, or aim for radical transformation rather
than gradual change. They are more comfortable with plain,
straight-talking language from both business and political leaders;
respond to passionate opinions; and identify with leaders who
appeal to anyone who might feel "left out" or
Millennials looking for directness
and passion, not radicalism
Freelance flexibility with full-time stability
In spite of perceived across-the-board advantages of working as
freelancers or consultants, nearly two-thirds of millennials said
they prefer full-time employment. Millennials' anxiety about
world events and increasing automation may be partially responsible
for them wanting to remain in their jobs, but the allure of
flexible working options might be just as influential.
Increasing loyalty and a desire for
Flexible working practices, loyalty,
and the foundation of trust
Automation: Threats and
Generation Z will be welcomed
Millennials tend to have a broadly positive opinion of GenZ
(those currently aged 18 or younger), believing the group to have
strong information technology skills and the ability to think
creatively. Six in 10 millennials believe GenZ will have a positive
impact as their presence in the workplace expands; this belief is
higher in emerging markets (70 percent) than in mature markets (52
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