In a world where younger generations are increasingly driven by purpose and societal impact, a recent Deloitte survey reveals their expectations and demands from employers. The annual Deloitte Global Gen Z and Millennial Survey, which has been tracking the priorities, concerns, and motivations of these generations for over a decade, highlights a consistent theme: young employees want their employers’ values to align with their own, and they strive to drive meaningful change through purposeful work.
With over 80% of Deloitte’s workforce comprising Gen Zers and millennials, the importance of understanding and addressing their needs cannot be underestimated. In a recent article at fortune.com, the newly appointed global chief purpose and people officer at Deloitte, @Elizabeth Faber emphasizes the significance of actively listening to their views and empowering them to be agents of change. Recognizing their potential impact, they acknowledge that these generations hold organizations to high standards and make career decisions accordingly.
The survey findings are both encouraging and challenging for businesses. On one hand, it indicates that Gen Zers and millennials believe progress has been made in certain areas, such as promoting diversity, equity, and inclusion (DEI), enabling work-life balance, and driving positive societal change. However, they also express the expectation that businesses should embed purpose into their work to a greater extent.
One notable aspect highlighted by the survey is the ethical considerations influencing career choices. Almost 40% of respondents reported rejecting work assignments due to ethical concerns. Similarly, more than a third have turned down potential employers whom they felt were not doing enough in areas such as environmental sustainability, DEI, or mental health. Furthermore, less than half of the respondents believe that businesses have a generally positive impact on society.
Research demonstrates that organizations prioritizing purpose and impact tend to perform better, but for young employees, working for a purpose-driven organization alone is no longer sufficient. Gen Zers and millennials want to actively participate in driving change through their individual work and are more likely to stay in organizations that empower them to do so. Perhaps not surprisingly, respondents have shown greater confidence in influencing societal change through their work rather than through personal choices.
However, the survey highlights a gap between aspirations and reality. Only half of the respondents feel empowered to drive change within their organizations, while a significant portion notes that decisions are often made from the top-down, with little consideration for their feedback. Climate action stands out as a particular area where young employees feel disempowered, as only 15% believe they can influence their organization’s sustainability efforts.
The impact of climate change on career decisions is also evident, with over half of the respondents stating that they research a brand’s environmental impact and policies before accepting a job offer. Additionally, a quarter of respondents express intentions to change jobs or industries due to climate concerns.
This survey underscores the need for organizations to embrace purpose and take proactive measures to address societal and environmental challenges. Gen Zers and millennials are holding their employers accountable, expecting a more significant role in shaping a better future. To secure their long-term commitment and create both financial and social value, organizations must prioritize purpose at the core of their corporate priorities and individual responsibilities.
As the workforce continues to evolve, businesses that adapt to these changing expectations and actively foster purpose-driven cultures are likely to attract and retain the top talent from these younger generations. Embracing purpose not only enhances employee satisfaction but also positions organizations as drivers of positive change in the world.
