Deloitte Survey | 2023 Gen Z and Millennial Concerns

Introduction: The labor landscape is undergoing a transformative shift, as Gen Z and millennial workers grapple with burnout and dissatisfaction in their current jobs. In a comprehensive survey conducted by Deloitte in 2023, alarming statistics shed light on the challenges faced by the younger workforce. From mental health issues to climate change concerns, these factors are reshaping the expectations of young professionals. This analysis explores the survey findings and presents key strategies for employers to attract and retain Gen Z talent in this rapidly changing environment.

1. 1. Battling Burnout and Mental Health Struggles: According to the Deloitte survey, a staggering 36% of Gen Z respondents feel exhausted all or most of the time, while 35% feel mentally distanced from their work. An equally concerning 42% of Gen Zs often struggle to perform to the best of their ability due to burnout. These statistics are mirrored in the millennial workforce, highlighting the urgent need for employers to address mental health issues proactively. Implementing robust mental health initiatives and creating supportive work environments that encourage work-life balance are vital steps in addressing burnout and fostering employee well-being.

Source: Deloitte survey, page 21

1. 2. The Great Resignation: Reasons for Job Transitions: Deloitte’s survey reveals that pay, workplace environment, and burnout are the top drivers pushing young workers to consider leaving their jobs. The study underscores the significance of holistic job satisfaction, where monetary compensation is just one piece of the puzzle. For employers looking to attract and retain Gen Z and millennial talent, offering work-life balance initiatives is paramount, with 72% of respondents ranking it as a top priority. Learning and development opportunities are equally crucial, with 62% of respondents indicating their importance. Additionally, the survey found that 49% of Gen Zs and millennials prefer hybrid or remote work arrangements, emphasizing the need for flexible work models to accommodate their evolving preferences.

Source: Deloitte survey, page 15 

1. 3. Embracing Values and Purpose: Deloitte’s findings indicate that Gen Z and millennials place immense value on ethical considerations when choosing an employer. A remarkable 44% of Gen Zs and 37% of millennials state that they have rejected assignments due to ethical concerns, while 39% and 34%, respectively, have turned down job offers from companies that do not align with their values. Companies must take note and prioritize climate action, social responsibility, and inclusivity to attract and retain young talent. Gen Z and millennials seek organizations that prioritize environmental and societal impact, creating an inclusive culture that aligns with their core values.

Conclusion: Deloitte’s 2023 survey provides critical insights into the challenges faced by Gen Z and millennial workers, illustrating the prevalence of burnout, mental health issues, and climate change concerns in the workplace. Employers seeking to attract and retain young talent must leverage these statistics to create comprehensive well-being programs and flexible work arrangements. By embracing core values that align with the aspirations of Gen Z, companies can forge strong connections and build a purpose-driven work culture. Successfully navigating these challenges will not only attract top talent but also cultivate a dynamic and thriving workforce, poised to shape the future of work