What concerns strike millennials as most pressing? Deloitte Insights conducted a global millennial survey in May. The survey spoke of the difference in ideologies between two generations, viz, Millennials and Gen-Z and took a look at the human side of disruption. Following were its findings.
Improvements
According to the findings, 45% of both the generations collectively believed that the economy would improve in 2017 and 2018, but the bars stooped exceedingly low with only 26% in 2019. Similarly, 33% of them believed that the social and political environment would improve in 2018, but there are hardly 28% of them who believe so in 2019.
Lack of Trust
Talking about lack of trust in traditional institutions, 26 and 27% of millennials have 0% trust in business leaders and traditional media respectively, whilst the Gen-Zs mark 24% and 30%.
World Concerns
Although Millennials and GenZ’s run parallel, the top three personal concerns for these generations may slightly differ in numbers, climate change/protecting the environment/natural disasters are the top three concerns for the millennials whereas, for the Gen-Zs, they’re ruled out to Climate change /protecting the environment/natural disasters, Unemployment and Terrorism.
Online Safety
On looking at the usage of the Internet these days, both generations are sceptical for the drawbacks it comes with. 79% millennials and 76% Gen-Z’s are worried about being hooked in online fraud. 79% millennials and 75% Gen-Z’s are scared for identity fraud.
Social Media
While social media plays a vital role in everybody’s life, the harms caused by it in terms of physical and mental health are much worse. 64% millennials and 63% Gen-Z’s believe that they would be physically healthier if they reduced their time spent on social media and 41% millennials and 38% Gen-Z’s would like to stop using social media entirely.
Ambitions
The year has also bought in a change in their ambitions as only 57% of both Gen-Z’s and Millennials now want to travel the world. Only 52% of millennials and 56% of Gen-z’s now look forward to being wealthy and earning a high salary. Surprisingly, only 39% of millennials look forward to starting their families while 45% of Gen-Zs look forward to the same.
The survey also touches the topic of millennials’ consumer relationships and their relationships with their employers.
Overall, there is not a vast difference between the mindset of the two generations, but the numbers speak for themselves, and it’s not wrong that the survey has been titled, Exploring a “generation disrupted”
Source: Forbes story with Deloitte infographic
