Deloitte Millennial Survey 2019 Report – Summary
Deloitte has
brought out its 8th annual millennial survey on Indian millennials and Gen Z. The
report has revealed the views of the respondents on economic, social,
political, career, and other aspects.
The survey included millennials who were
born between January 1983 and December 1994. During the survey, 13,416
millennials shared their views from 42 countries and 3,009 Gen Z respondents
from 10 countries.
Key
Findings of the Millennial Survey
Low Optimism towards Economic, Social and Political Progression
The primary reason behind this lack of optimism has been
economic downturn of the late 2000s. It is because the sluggish labor market
during the recession has left negative effects on wages and career paths.
Priorities and Aspirations of Millennials and Gen Zs
The
aspirations of these two generations are below:
§ 57% millennials and Gen Zs want to
travel the world
§ 52% millennials and 56% Gen Zs want
to be wealthy
§ 49% millennials and 52% Gen Zs want
to buy their own homes
§ 46% millennials and 47% Gen Zs wish
to leave a positive impact on the society
§ 39% millennials and 45% Gen Zs want
to start their families and have children.
Concern about Climate Change
Frustration over Slow Economy
Very few
respondents had a positive view on economic progression. Merely 26% of respondents
said that they expect the country’s economic situation to improve in the
future.
Low Trust on Media
Lack of Social Mobility
When it comes to responsibility for improving social
mobility, millennials have the following views:
§ 36% think the government is most
responsible for social mobility
§ 20% believe businesses are most
responsible
§ 18% think individuals themselves are
responsible
§ 10% put the onus on educational
institutions
§ 9% think NGOs are most responsible.
Perspective on Businesses
§ Nearly 36% of millennials believe
that businesses should put more priorities on producing high-quality goods and
services.
§ Around 35% think that businesses
should prioritize generating more jobs.
§ As much as 55% view that generating
profit is the main achievement of businesses.
The Industry Impact
§ 49% of millennials think that new
technologies will boost their chances of getting jobs.
§ 22% expect that Industry 4.0 to have
no impact
§ 16% expressed concern that Industry
4.0 will replace their job responsibilities.
Main Reasons for Millennials and Gen Zs to Quit their Jobs
§ 43% millennials and 34% Gen Zs are
dissatisfied with pay and rewards
§ 35% millennials and 33% Gen Zs think
there are not enough opportunities to progress
§ 28% millennials and 27% Gen Zs
believe there are lack of opportunities for learning and development
§ 23% millennials and 15% Gen Zs do not
feel appreciated
§ 22% millennials and 19% Gen Zs feel
there is poor work/life balance.
Social Media
Nearly 71% of millennials said they feel fairly positive/very
positive about using digital devices and social media. Download the Full Report on
Millennial Survey 2019 Here
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