Deloitte's 2024 Gen Z and Millennial Survey gives a glimpse into two generations navigating a fast-changing workplace and making decisions that reflect their values.

The worldwide survey, with responses from nearly 23,000 individuals in 44 nations, presents a picture of changing priorities, with a focus on purpose, flexibility, climate responsibility and mental well-being. 

On everyone's minds is the price of living: over half of Gen Z and millennials report they live paycheck to paycheck. Yet in spite of this, there's cautious optimism with nearly half expecting their own finances to improve this year. But pay alone isn't enough. An astounding 86% of Gen Z and 89% of millennials report purpose is key to job satisfaction, and most will decline jobs or leave employers who do not share their values. 

This is extended to climate action. According to the survey, 62% of Gen Z and 59% of millennials report being concerned about climate change. More and more, they are also encouraging employers to take action on climate change and are changing careers because of this. Deloitte found that around two in 10 Gen Zs (20%) and millennials (19%) have already changed jobs or industries because of environmental concerns.  

Work-life balance is also of high importance, even ahead of status or compensation. But too many still are unable to find the right balance. Overtime, return-to-office policies, and restricted autonomy are among the top drivers of stress along with ongoing mental health stigma. While some employers are making strides, nearly 30% of respondents still worry that speaking up about mental health will harm their reputation in the workplace. 

As Deloitte Chief People & Purpose Officer Elizabeth Faber notes, Gen Z and millennials are not being unrealistic. They want purposeful work, flexibility, development and care.