Respondents are cautiously optimistic about the social and economic outlook. Nearly one-third of Gen Zs and millennials are optimistic that the economy in their country will improve within the next year. This optimism extends to their personal finances with many expecting their financial circumstances to improve. Despite this, financial insecurity is a significant issue, as over half of both groups are living paycheck to paycheck. There is also some uncertainty about the social and political situation as many countries approach pivotal elections.

Purpose influences workplace satisfaction. The vast majority say purpose is important to their overall job satisfaction and well-being. These generations are willing to reject assignments or employers that don’t align with their ethics. When employers take that feedback and respond positively, employee loyalty tends to be much higher.

Environmental sustainability is driving career decisions and consumer behaviors. Environmental sustainability remains a top concern for Gen Zs and millennials, and it is the top societal challenge which respondents feel businesses have the opportunity and necessary influence to drive change on. Gen Zs and millennials are pushing business to take action, through their career decisions and their consumer behaviors.

Positive perceptions of GenAI increase with more hands-on experience, but so do workplace concerns. Gen Zs and millennials are feeling uncertain about GenAI and its impact on their careers. Those who frequently use GenAI are more likely to trust the technology and believe it will improve the way they work, but they’re also more likely to have concerns, such as believing it will lead to the elimination of jobs. Amid uncertainty, both generations are thinking about how to adapt and focusing on reskilling.

Work/life balance and flexibility remain paramount as return to office strategies yield mixed results. An increase in return to office strategies over the last year is yielding mixed results. Some report benefits like improved engagement, connection and collaboration, while others are experiencing outcomes like increased stress and decreased productivity. What is clear is that work/life balance and flexibility remain critical for these generations. Work/life balance is once again their top consideration when choosing an employer, and the drive for flexibility is increasing the popularity of less traditional employment models, from part-time roles, and job-sharing, to side gigs.

As workplace factors contribute to stress levels, employers must stay focused on supporting better workplace mental health. Stress levels continue to be very high among Gen Zs and millennials and only about half of respondents say their mental health is good or extremely good. Financial concerns, and family welfare are major stressors, alongside job related factors such as long working hours and not being recognized for their work. Many respondents believe their employers are taking mental health seriously, but managers and senior leaders should be doing more to address stigma.

More information here: https://www2.deloitte.com/cz/cs/pages/about-deloitte/articles/millennialsurvey.html