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Millennials Don’t See Such a Bright Future

The younger generation believes that ethical behavior by corporations is decreasing and that leaders are in fact having a negative impact on society.

For younger workers, the gap is widening between what responsible companies should achieve and what businesses' actual priorities are, according to 2018 Deloitte Millennial Survey,

The younger generation believes that ethics behavior by corporations is decreasing. Last year they said 65% behaved ethically while this year only 48% took that view.

Furthermor,e they don’t see their leaders being committed to improving society. That number was 62% last year and this year it’s 47%. And even more surprising is that 40% believe that business leaders are having a negative impact on society.

While these are pretty negative trends in general, Deloitte doesn’t feel this is translating to specific employers.

 “None of this suggests general hostility toward employers; indeed, in last year’s survey report, we characterized millennials as “pro-business”—they just simply expected more from leaders and corporations, said Michele Parmelee, global managing principal for Talent, Brand & Communications, said in a summary of the survey

“It’s noteworthy that, in spite of their reservations, millennials see business leaders as making a more positive impact on the world than leaders in other areas. They are eager for businesses to more aggressively commit to making a tangible impact on the society while preparing their organizations and employees for the changes that Industry 4.0 is effecting.

We see an opportunity for leaders to fill what younger workers regard as a stark leadership void. Respondents feel business could be particularly effective in the areas of education, skills and training, economic stability, and cybersecurity. Younger workers clearly are open to being convinced that employers are committed to ethics, diversity, and Industry 4.0 training . . . but they’re not yet convinced. “

The survey which explores the views of 10,455 millennials and 1,844 Gen Z respondents around the globe found:

-- Diversity and flexibility are key to loyalty. Good pay and positive corporate cultures are most likely to attract both millennials and Gen Z, but the keys to keeping them happy are diversity, inclusion, and flexibility. Unfortunately, survey respondents believe that most business leaders, rhetoric notwithstanding, are not truly committed to creating inclusive cultures. Many respondents, especially in emerging markets, view the gig economy as an attractive alternative or adjunct to their jobs.

-- Young workers feel unprepared for Industry 4.0. Millennials express admiration for corporations that are adapting to and advancing Industry 4.01 and developing their people to succeed in this evolving business environment. Lacking confidence that they can succeed in an Industry 4.0 environment, young workers are looking to businesses to help them develop the necessary skills, including the “soft” skills they believe will be more important as jobs evolve.

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