Gen Z & Millennials are no longer just shaping the future—they're demanding it.
Achieve Performance Consulting Group
Achieving Extraordinary Results through People
As the workforce continues to evolve, Gen Z and Millennials are no longer just shaping the future—they're demanding it. With 2024 set to be a transformative year for businesses, employers who fail to align with the core values and expectations of these generations are at risk of falling behind. From a strong sense of purpose to environmental responsibility, mental health support, and flexible work models, Gen Z and Millennials are not willing to compromise.
This isn't just a shift—it's a warning. Organizations that ignore these priorities will face costly consequences, from losing top talent to damaging their reputation in the marketplace.
In this newsletter, we explore the critical insights from Deloitte’s 2024 Gen Z and Millennial Survey and uncover why businesses must adapt now to thrive in the future.
As we explore the mindset of Gen Z and Millennials, it’s clear they face a world of uncertainty but hold a cautious optimism. Around 32% of Gen Z and 31% of Millennials believe their country’s economy will improve in the next year, marking a shift from past pessimism. Yet, financial insecurity remains a major issue, with 56% of Gen Z and 55% of Millennials living paycheck-to-paycheck.
Cost of living pressures, unemployment, and climate change top their list of concerns, and they expect employers to take action. These generations aren't just looking for stability; they demand businesses that address the pressing challenges of today and provide a clear path forward.
As Gen Z and Millennials navigate a world of economic uncertainty, their expectations for employers stretch far beyond financial stability. These generations are driven by a deeper need for purpose, both in their work and in the companies they choose to support.
Purpose is at the core of what drives Gen Z and Millennials in the workplace.
A striking 86% of Gen Z and 89% of Millennials say that having a sense of purpose is key to their job satisfaction. This isn't just talk—50% of Gen Z and 43% of Millennials have already turned down projects or even employers that didn’t align with their personal values.
These generations expect more from their employers than just financial rewards;
they are looking for companies that contribute to society and align with their ethical standards. With 75% saying a company's societal impact influences their career decisions, businesses must step up to meet these expectations—or risk losing out on top talent.
But purpose alone won’t be enough. For Gen Z and Millennials, addressing environmental sustainability is non-negotiable—an issue that directly influences both their career and consumer choices.
Climate change weighs heavily on their minds, with 62% of Gen Z and 59% of Millennials reporting they feel anxious about it. This concern translates directly into action: 54% of Gen Z and 48% of Millennials say they are pressuring their employers to take a stronger stand on environmental issues.
It’s not just about words—actions matter. Around 20% of these generations have already changed jobs or industries due to environmental concerns, and many more plan to do so in the future. They are also scrutinizing companies before making purchasing decisions, with 30% of Gen Z and 29% of Millennials researching a company’s environmental impact before committing.
As sustainability continues to rise in importance, businesses that fail to act will find themselves not only losing top talent but also customers. The message is clear: aligning with the environmental values of Gen Z and Millennials is no longer a choice—it’s a necessity.
However, the digital revolution is just as significant in shaping their career paths, particularly with the rise of GenAI in the workplace.
While Gen Z and Millennials are intrigued by the possibilities of AI, many approach it with caution. Around 26% of Gen Z and 22% of Millennials use GenAI regularly at work, and those who do report higher levels of excitement and trust in the technology. But alongside the excitement, concerns are growing.
A staggering 71% of Gen Z and 73% of Millennials who use GenAI frequently believe it will lead to job loss through automation. This sense of vulnerability is pushing many to reskill, with 59% of Gen Z and 57% of Millennials believing that AI will impact their career choices, driving them toward jobs less prone to automation.
As AI becomes more embedded in the workplace, businesses have a critical role to play in preparing their workforce. Yet, only around half feel their employers are offering adequate training. Those who fail to provide this support risk leaving their teams unprepared for the future—a future where AI is set to transform work as we know it.
Gen Z and Millennials are also reshaping traditional work patterns, seeking more flexibility and alternative models of employment.
Flexibility is no longer a perk—it’s a priority. With two-thirds of Gen Z (64%) and Millennials (66%) working in organizations that have introduced return-to-office mandates, the responses are mixed. While some report feeling more engaged and connected, others experience increased stress and lower productivity.
Hybrid work, part-time roles, and side gigs are on the rise, with 45% of Gen Z and 36% of Millennials holding a secondary job. These generations are challenging the conventional full-time, on-site work model, pushing for changes like job-sharing and even four-day workweeks. For them, flexibility in where and when they work is essential to maintaining a healthy work-life balance, a top factor when choosing an employer.
Ignoring these shifts in work preferences could push top talent away.
Companies that embrace flexible models and support non-traditional employment will not only retain their people but also attract new, innovative talent.
Flexibility, however, is only one piece of the puzzle. Addressing the mental health crisis within these generations is equally critical to building a sustainable workplace.
Gen Z and Millennials are no strangers to stress, juggling financial insecurity, work pressures, and personal challenges. While there have been slight improvements in mental health since last year, stress levels remain persistently high.
Many young workers find themselves navigating workplaces where mental health isn’t openly discussed. Even though some employers are making progress, many employees still hesitate to speak up about their struggles, fearing judgment or discrimination. The relationship between employees and their managers plays a pivotal role here—when managers show empathy and provide support, it can have a significant impact on well-being.
Organizations that prioritize mental health not only foster a healthier workforce but also create a culture of loyalty and engagement.
This generation expects employers to go beyond surface-level initiatives and take meaningful steps to reduce stigma, offer mental health resources, and actively listen to their concerns. Ignoring this issue risks alienating an already strained workforce and losing their trust.
As these generations push for progress in mental health, flexible work, and purpose-driven careers, one thing is clear—employers must adapt or face the consequences of disengaged and dissatisfied employees.
In conclusion, the message from Gen Z and Millennials is clear: employers must adapt or be left behind. These generations demand purpose, flexibility, sustainability, and a genuine commitment to mental health. They are reshaping the workforce with values that go beyond just financial gain—they seek meaningful work, strong ethical alignment, and workplaces that prioritize well-being.
The insights shared here, drawn from Deloitte’s 2024 Gen Z and Millennial Survey, serve as a wake-up call for businesses everywhere. Organizations that embrace these evolving expectations will not only thrive but also gain the loyalty of a new generation of employees and customers. Those that resist change, however, risk losing out on top talent and falling behind in an increasingly competitive world.