Millennials and Generation Z call for businesses everywhere to make greater efforts towards improving the world, according to the seventh annual Millennial Survey by Deloitte. The fifth and sixth surveys showed a more positive outlook on business ethics and motivations, but 2018 saw a dramatic reversal with opinions about business hitting their lowest levels in four years.
The seventh survey gathered responses from 10,455 millennials from 36 countries, as well as 1,850 responders from Generation Z across 6 different countries, and found that 48% of millennials believe businesses behave ethically. Only 47% believe that business leaders have commitments to improve society, versus 62% in 2017’s survey. Their trust in political figures is dramatically lower, with only 19% believing politicians currently have a positive impact on the world.
Both Millennials and Gen Z respondents are aware of Industry 4.0 and believe it has the potential to free people from routines in order to focus on creative work. Many of them express unease about its arrival however, with 17% of millennials fearing all or part of their job will be replaced. 32% of responders said that their jobs already extensively use Industry 4.0, but this same fear remains.
Deloitte’s Global talent leader, Michele Parmelee, spoke about how businesses could respond to this lack of trust, saying that, “Businesses need to listen to what millennials are telling us and reimagine how business approaches talent management in Industry 4.0, placing a renewed focus on learning and development to help all people grow in their careers throughout their lifetimes.”
