64% GenZ, 57% Millennials rejected employers on ethical factors: Deloitte report

Further, stress levels and mental health continue to be another concern.

Purpose is key to workplace satisfaction and well-being, according to 86 percent of the Gen Z cohort and 96 percent of Millennials, according to a Deloitte study.

Gen Z refers to those born between 1997 and 2011, while Millennials were born between 1981 and 1996.

People in these age groups are willing to reject assignments and employers based on their ethics or beliefs—more than two-thirds (69 percent) of Zoomers, as the Gen Z generation is referred to, and Millennials (67 percent) have refused assignments on these grounds. Assignments refer to a part of a job or task that employees are asked to undertake.

About the same proportion of Gen Zers (64 percent) and more than half of Millennials (57 percent) have declined employers or thier potential employers.

Deloitte’s 2024 Gen Z and Millennial Survey, which gathers insights from more than 22,800 Gen Z and Millennial respondents across 44 countries, found that Zoomers and Millennials have high expectations from businesses addressing issues related to environment protection, inclusive employment opportunities, equal pay, mentorship, educational programmes, etc.

“Millennials and Gen Zs are an integral part of every business today. They are the agents of change and contribute significantly to shaping the future of work. More than half of the respondents are excited about GenAI (generative artificial intelligence) and believe that this new technology will positively impact their work-life balance, allowing more time for creative and strategic work,” said Deepti Sagar, chief people and experience officer at Deloitte India.

Interestingly, environmental concerns rank high among these respondents. They are more inclined than the global average to urge their employers to take climate action and be willing to pay more for sustainable products and services.

Return to office

While the Gen Z grouping in India would on the one hand prefer to see and interact with their colleagues around them at work, on the other they feel that return-to-office policies increased their financial burden thanks to costs associated with commute and accommodation, as in a vast number of cases people were working from their parents' homes during remote work. Conversely, one of the top two reasons cited by Gen Z respondents (21 percent) for leaving an organisation, along with a lack of growth opportunities, is not being able to physically interact with their colleagues.

Further, stress levels and mental health continue to be another concern. There are some signs of improvement this year with two-thirds of Zoomers (64 percent) and more than three-fourths of Millennials (76 percent) rating their mental health as good or extremely good. But 4 in 10 Millennials (40 percent) and Gen Zers (48 percent) say they feel stressed all or most of the time (down from 45 percent and 53 percent in 2023). Apart from work, respondents emphasised their finances and the health and welfare of their family as other top stress drivers.

Employers have made progress in addressing mental health concerns in the workplace. Today, they are openly talking about these issues. More than 8 of 10 Millennials (85 percent) feel comfortable openly speaking to their managers about feeling stressed or facing other mental health challenges. More than 7 of 10 Gen Zs (71 percent) and Millennials (77 percent) believe that their employers are prioritising mental health at the workplace.

Gen Zers and Millennials are excited about GenAI

These two generations believe GenAI will have a positive impact on their work-life balance and how they work. More than half of the respondents among Gen Z (51 percent) and Millennials (54 percent) frequently use GenAI at work and strongly feel that it will free up their time for creative and strategic work. However, they are equally convinced that they will need to re-skill and GenAI will influence their career decisions and cause some job loss. The survey also highlights how women are more upbeat about GenAI and slightly more comfortable working with it than men.

Both generations across genders are expected to seek training around GenAI. In addition, 8 in every 10 Gen Z (81 percent) and Millennial (88 percent) respondents feel that their employers are providing sufficient training on the capabilities, benefits and value of GenAI.