Deloitte’s 2023 Millennial & Gen Z Survey: Four Key Takeaways

Published 30 May 2023

Author
Nienke Creemers
2 min read

Deloitte’s 12th annual Gen Z (born between 1996 and 2009) and millennial (born between 1981 and 1995) survey compiles global attitudes towards work and society. We dissect the key takeaways.

Key Stats

Deloitte’s 2023 Millennial & Gen Z Survey: Four Key Takeaways

44%

Fewer than half of Gen Zers (48%) and millennials (44%) globally believe companies have a positive impact on society

62%

Forty-nine per cent of Gen Zers and 62% of millennials say work is central to their identity

3/4

Three quarters of Gen Zers and millennials working remotely or in hybrid roles would consider looking for a new job if they were asked to go on-site full-time

46%

Forty-six per cent of Gen Zers and 39% of millennials feel stressed or anxious at work all or most of the time

61%

Sixty-one per cent of Gen Zers and 49% of millennials have experienced harassment or microaggressions at work in the past 12 months

44%

About two in five Gen Zers (44%) and millennials (37%) have rejected work assignments due to ethical concerns

81%

More than three quarters of Gen Zers (81%) and millennials (76%) are interested in more flexibility or a reduction of their working hours

52%

Roughly half of Gen Zers (52%) and millennials (49%) feel burned out

57%

Fifty-seven per cent of Gen Zers and 55% of millennials say their employers are taking mental health seriously

55%

More than half of Gen Zers (55%) and millennials (54%) research a brand’s environmental impact and policies before accepting a job

52%

Fifty-one per cent of Gen Zers and 52% of millennials say they live pay cheque to pay cheque

44%

More than two-fifths (44%) of Gen Zers and 35% of millennials expect their financial situation to improve over the next year

46%

Forty-six per cent of Gen Zers and 37% of millennials have taken on additional part- or full-time jobs

46%

Of those that take side jobs, 38% of Gen Zers and 46% of millennials do it for extra income

56%

Among employees, 56% of Gen Zers and 55% of millennials think it will become more difficult or impossible to ask for a raise due to the cost-of-living crisis; this is especially the case among women (59% versus 52% among men across both generations)

50%

Half of Gen Zers and 47% of millennials expect starting a family to become more difficult or impossible due to economic concerns

62%

Due to economic concerns, 61% of Gen Zers and 62% of millennials think buying a house will become more difficult or impossible

60%

About three in five Gen Zers (59%) and millennials (60%) are willing to pay more for sustainable products and services

55%

More than half of Gen Zers (53%) and millennials (55%) think it will become more difficult or impossible to pay more for sustainable products and services if the economic situation doesn’t improve

  • The Ethical Workplace: As mentioned in 10 Youth Trends, Gen Zers and millennials feel strongly about addressing ethical and environmental concerns. While most of them don’t believe businesses have a positive societal impact, 50% of Gen Zers and 46% of millennials want their employers to act on climate change. However, about half of both demographics think their employers have deprioritised sustainability.

  • Negotiating the Work-Life Balance: Work-life balance is a major consideration for both Gen Z and millennials when choosing employers. More than three quarters want more flexibility or reduced working hours. Flexible schedules, four-day working weeks, job sharing and better career advancement opportunities for part-time employees are suggested by survey respondents to achieve a good balance.

    About three quarters of Gen Zers and millennials say their workload and poor work-life balance contribute to high stress levels, and 46% of Gen Zers report feeling anxious at work most or all of the time. Adding to this, 51% of Gen Zers and 39% of millennials have experienced harassment at work in the past year.

  • Gen Side-Hustle: As highlighted in Tomorrow’s Independent Workers, interest in part-time work and side jobs is rising. Forty-six per cent of Gen Zers and 37% of millennials have taken on an additional job for extra income and/or skills development.

  • Key Life Stressors: The high cost of living, geopolitical tensions, climate change and unemployment are the main concerns among Gen Zers and millennials. More than half live pay cheque to pay cheque, leading them to adopt frugal (and eco-minded) behaviours, such as forgoing car ownership, avoiding fast fashion, following a vegetarian or vegan diet, and/or opting out of having children. Read more on frugality in our upcoming Anti-Consumerism report, publishing in July.