The labor landscape continues to evolve as Gen Z and Millennial workers emphasize values, sustainability, and purpose in their career choices. Deloitte’s 2024 Gen Z and Millennial Survey highlights the changing priorities and concerns of the younger workforce. This analysis delves into the survey findings, presenting key strategies for employers to attract and retain Gen Z and Millennial talent in today’s dynamic environment.
Emphasizing Environmental Sustainability
Environmental sustainability remains a critical concern for both generations, with 62% of Gen Zs and 59% of Millennials experiencing anxiety about climate change (Page 14). The survey reveals that 73% of Gen Zs and 77% of Millennials actively take measures to limit their environmental impact, and many are willing to switch jobs to align better with their environmental values. Companies should prioritize sustainability efforts and transparently communicate their environmental policies to attract environmentally conscious talent.
Importance of Purpose and Societal Impact
Purpose-driven work is paramount for job satisfaction and well-being, with 86% of Gen Zs and 89% of Millennials considering it very important (Page 10). Moreover, 75% of respondents factor in an organization’s community engagement and societal impact when evaluating potential employers (Page 11). Companies that emphasize social responsibility, inclusivity, and ethical practices will resonate more with these generations, fostering stronger loyalty and engagement.
Mental Health and Work-Life Balance
Burnout and mental health remain pressing issues, with 40% of Gen Zs and 35% of Millennials feeling stressed all or most of the time (Page 28). Employers need to implement robust mental health initiatives and promote work-life balance to combat these challenges. About 54% of Gen Zs and 55% of Millennials believe their employers take mental health seriously, but there is room for improvement in creating supportive work environments (Page 30).
Flexibility and Hybrid Work Models
The preference for flexible work arrangements is strong, with 51% of Gen Zs and 57% of Millennials currently working fully on-site, but many seek hybrid or remote options (Page 25). Offering flexible hours, part-time roles, and job-sharing options can help employers meet the evolving needs of their workforce. Additionally, side jobs are common, with 45% of Gen Zs and 36% of Millennials engaged in part- or full-time side gigs (Page 26).
Navigating Gen AI and Technological Changes
Gen Z and Millennials are cautiously optimistic about the potential of GenAI, with 26% of Gen Zs and 22% of Millennials using GenAI frequently at work (Page 19). While many see its potential to improve work-life balance and efficiency, concerns about job displacement remain high. Employers should focus on reskilling programs and prepare their workforce for the technological shifts brought by GenAI (Page 21).
Conclusion
Deloitte’s 2024 survey underscores the critical need for employers to adapt to the values and expectations of Gen Z and Millennial workers. By prioritizing environmental sustainability, purpose-driven work, mental health, and flexible work models, companies can attract and retain top talent. Embracing these changes will not only foster a thriving workforce but also drive positive societal impact, shaping the future of work.
At INOP, we are dedicated to addressing these needs by offering opportunities that align with these values. We believe in transparency and provide insights into companies’ ESG commitments, values, culture, and societal impact, fostering informed decisions that lead to better job fits, lower turnover, and higher productivity. By prioritizing environmental sustainability, purpose-driven work, mental health, and flexible work models, companies can attract and retain top talent. Embracing these changes will not only foster a thriving workforce but also drive positive societal impact, shaping the future of work.
Importance of Purpose and Societal Impact
Purpose-driven work is paramount for job satisfaction and well-being, with 86% of Gen Zs and 89% of Millennials considering it very important (Page 10). Moreover, 75% of respondents factor in an organization’s community engagement and societal impact when evaluating potential employers (Page 11). Companies that emphasize social responsibility, inclusivity, and ethical practices will resonate more with these generations, fostering stronger loyalty and engagement.
Mental Health and Work-Life Balance
Burnout and mental health remain pressing issues, with 40% of Gen Zs and 35% of Millennials feeling stressed all or most of the time (Page 28). Employers need to implement robust mental health initiatives and promote work-life balance to combat these challenges. About 54% of Gen Zs and 55% of Millennials believe their employers take mental health seriously, but there is room for improvement in creating supportive work environments (Page 30).
Flexibility and Hybrid Work Models
The preference for flexible work arrangements is strong, with 51% of Gen Zs and 57% of Millennials currently working fully on-site, but many seek hybrid or remote options (Page 25). Offering flexible hours, part-time roles, and job-sharing options can help employers meet the evolving needs of their workforce. Additionally, side jobs are common, with 45% of Gen Zs and 36% of Millennials engaged in part- or full-time side gigs (Page 26).
Navigating Gen AI and Technological Changes
Gen Z and Millennials are cautiously optimistic about the potential of GenAI, with 26% of Gen Zs and 22% of Millennials using GenAI frequently at work (Page 19). While many see its potential to improve work-life balance and efficiency, concerns about job displacement remain high. Employers should focus on reskilling programs and prepare their workforce for the technological shifts brought by GenAI (Page 21).
Conclusion
Deloitte’s 2024 survey underscores the critical need for employers to adapt to the values and expectations of Gen Z and Millennial workers. By prioritizing environmental sustainability, purpose-driven work, mental health, and flexible work models, companies can attract and retain top talent. Embracing these changes will not only foster a thriving workforce but also drive positive societal impact, shaping the future of work.
At INOP, we are dedicated to addressing these needs by offering opportunities that align with these values. We believe in transparency and provide insights into companies’ ESG commitments, values, culture, and societal impact, fostering informed decisions that lead to better job fits, lower turnover, and higher productivity. By prioritizing environmental sustainability, purpose-driven work, mental health, and flexible work models, companies can attract and retain top talent. Embracing these changes will not only foster a thriving workforce but also drive positive societal impact, shaping the future of work.