Geopolitical and social concerns have given rise to a new wave of business activism, and millennials and Gen Z are sounding the alarm, according to Deloitte’s seventh annual Millennial Survey.
Millennials’ opinions about business’ motivations and ethics have fallen dramatically in the last year, as has their sense of loyalty.
Today, only a minority of millennials believe businesses behave ethically (48 percent vs 65 percent in 2017) and that business leaders are committed to helping improve society (47% vs 62% in 2017).
43% of millennials envision leaving their jobs within two years; only 28% seek to stay beyond five years. Employed Gen Z respondents express even less loyalty, with 61% saying they would leave within two years if given the choice.
Attracting and retaining millennials and Gen Z respondents begins with financial rewards and workplace culture; it is enhanced when businesses and their senior management teams are diverse, and when the workplace offers higher degrees of flexibility.
Their concerns suggest this is an ideal time for business leaders to prove themselves as agents of positive change. The findings are based on the views of more than 10,000 millennials questioned across 36 countries and more than 1,800 Gen Z respondents questioned in six countries.