Environmental and climate concerns play an important role in Gen Zs’ and millennials’ career decisions, revealed a new study.
According to the report carried out by Deloitte, more than half of respondents say they research a brand’s environmental impact and policies before accepting a job. In fact, one in six say they have already changed jobs or sectors due to climate concerns and around a quarter say they plan to do so in the future.
In fact, the ability to drive change on social issues overall has the potential to make or break the recruitment and retention of these generations. Nearly four in 10 say they have rejected work assignments due to ethical concerns, while more than one-third have turned down employers that do not align with their values. Gen Zs and millennials want to be empowered to drive change within their organisations, but while they tend to feel they can positively influence their organisations in areas related to products and services, DEI, development and training, and workload management, influence in other critical areas, such as social impact and sustainability, is lagging.
PRESSURING BUSINESS TO ACT ON CLIMATE CHANGE
About half of Gen Zs and millennials say they are pressuring businesses to act on climate change, but less than one in six say they feel able to influence their organisation’s sustainability efforts. Gen Zs and millennials want their employers to help empower them and provide training and support, both to help them make more sustainable decisions in their own lives, and to develop the skills needed for the transition to a low-carbon economy. More than half of Gen Zs (56%) and half of millennials (50%) say they already receive this training, but it will be essential to scale this learning as it’s estimated that approximately 800 million jobs are vulnerable to climate extremes.
Six in 10 Gen Zs and millennials say they have felt anxious about the environment in the past month, and roughly the same percentage cite extreme weather events and wildfires as a stress driver. These concerns impact their decision-making, from family planning and home improvements, to what they eat and wear. Respondents are taking a range of actions, such as purchasing an electric vehicle or avoiding driving a car altogether, making their homes more energy-efficient, eating a vegetarian or vegan diet, and avoiding fast fashion in favor of second-hand clothes. Some are deciding to have fewer or no children to reduce their environmental impact.
EMPLOYERS MUST ACT
As businesses face new headwinds, it will be important to talent recruitment and retention efforts for employers to maintain the progress they’ve made and help drive greater momentum. “Gen Zs and millennials are facing a unique combination of challenges during a pivotal point in their lives as they progress in their careers, grow their families, and care for loved ones,” stated Michele Parmelee, Deloitte Global Deputy CEO and Chief People and Purpose Officer. “It is crucial for employers to understand these generations and continue to drive progress on the challenges that matter most to them. This will not only help boost productivity and retain talent, it will ultimately build trust and value for business in society more broadly.”
Gen Zs and millennials are “striving for better work/life balance”, added Parmalee. “They are also values-driven, concerned about the environment, the state of the world, and the future they see developing ahead of them. They’re looking for employers who can help empower them to make a difference. Organisations that actively listen and help address their needs and concerns will improve business resiliency and implement actionable change in our world.”
Deloitte’s 2023 Gen Z and Millennial Survey explores how the disruptive events of the last three years have shaped respondents’ lives and views. As the COVID-19 pandemic recedes, the report looks at how Gen Zs’ and millennials’ experiences in the workplace have evolved and finds that, while the pandemic clearly left significant negative legacies, it also ushered in some positive workplace trends. The survey looks broadly at the progress these generations feel their employers have made, where there is still work to do, and where potential setbacks may occur. It also explores how Gen Zs and millennials continue to make lifestyle and career decisions based on their values.
To learn more about the Deloitte Global 2023 Gen Z and Millennial Survey, click here.
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