Priorities, aspirations of Millennials, Gen Z

  • Corporate News
  • Saturday, 18 Jan 2020

Millennials and Generation Z (Gen Z) have many concerns, including their careers, lives and the world around them.

They appear to be struggling to find their safe haven, beacons of trust, and have little trust in governments and politicians, says Deloitte in its Global Millennial Survey 2019.

More than half surveyed want to earn high salaries and be wealthy just like other generations. Having children, buying homes and other traditional signs of adulthood “success markers” do not top their list of priorities.

Deloitte says they have bleak expectations of the economy, which is what it have experienced since it began asking these questions six years ago. Income inequality and the lack of social mobility are the likely factors driving economic pessimism, highlighting the negative impact of an uncertain, inequal environment, the report says.

It was based on the views of 13,416 Millennials questioned across 42 countries and territories, and 3,009 Gen Z from 10 countries. Millennials who responded to the survey were born between January 1983 and December 1994, while the Gen Z were born between January 1995 and December 2002. Millennials are a generation born between 1981 and 1996, while the Gen Z were born between 1995 and 2015.

The report says Millennials’ opinion about business continues to diminish partly because the focus of business is solely on its own agenda rather than considering the consequences for society.

Both Millennials and Gen Z, in general, will patronise and support companies that align their values and support business that make a positive impact on society.

Organisations that can make the future better for Millennials and Gen Z have the brightest future themselves.

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