World Environment Day: Gen Z & Millennials - Purpose Driven Workforce

The World Environment Day 2024 comes with a clear cut message from Gen Z and Millennials around the world, including India. The latest Deloitte India: 2024 Gen Z and Millennial Survey report highlights this, with its findings demonstrating that the younger generation is more environmentally conscious and seeks purpose-driven careers.

Sustainability Drives Work Choices

Did you know 90% of millennials would pay more for sustainable products? This eco-conscious and purpose-driven mindset is influencing how they approach work. Insights from over 22,800 respondents across 44 countries highlight a shift in priorities. For businesses and young entrepreneurs, understanding these findings is crucial. The survey unveils fascinating facts, helping them better understand their future workforce and how to align their business with Gen Z and Millennial values.

Gen Z and Millennials: A Purpose-Driven Workforce

While work-life balance remains important, having a sense of purpose at work is central to overall workplace fulfillment and well-being for Gen Z and Millennials. This emphasis on purpose is reshaping career decisions, with many prioritizing roles that contribute positively to societal and environmental outcomes.

Embracing Generative AI (GenAI) for a Better Work-Life Balance

Gen Zs and Millennials are optimistic about Generative Artificial Intelligence (GenAI), a type of AI that can create realistic text, translate languages, and write different creative content. More than half of these groups frequently use GenAI at work, believing it will enhance their work-life balance by freeing up time for creative and strategic tasks.Despite some concerns about job displacement, a majority of respondents feel their employers are providing adequate training on GenAI's capabilities, benefits, and value. Interestingly, women are slightly more comfortable working with GenAI than men, highlighting the inclusive potential of this technology.

Environmental Concerns and Actions

A staggering 85% of Gen Zs and Millennials worry about the environment. This concern translates into action:

• They are more likely than the global average to urge their employers to adopt sustainable practices.
• More than 30% have ended or reduced their relationship with companies due to their environmental impact.

This environmentally conscious mindset extends to personal lifestyle choices, such as avoiding fast fashion, reducing air travel, and opting for vegetarian or vegan diets.

Mixed Reactions to Hybrid Work Models

The transition back to on-site work has elicited mixed reactions. While some appreciate the increased engagement and collaboration that comes with in-person interaction, others face heightened stress and commuting burdens. A hybrid work model is preferred by many, with Gen Zs particularly inclined towards remote working. Despite the challenges, physical interaction with colleagues remains crucial for job satisfaction and retention, highlighting the need for flexible and balanced work arrangements.

Importance of Mental Health and Well-Being

Stress and mental health remain significant concerns, though there are signs of improvement. Compared to last year, 20% more respondents feel comfortable discussing mental health with their managers. A majority believe their employers are prioritizing mental well-being.

Gen Zs and Millennials are Optimism About the Future

Despite global economic uncertainties, Gen Zs and Millennials are optimistic about their countries' economic and social prospects. In India, for instance, sustained economic growth has bolstered confidence among millennials and Gen Zs, with a majority expecting further improvements in the coming year. This optimism is a stark contrast to the previous year and reflects a growing belief in a brighter future.

Harnessing Purpose for a Better Workplace

This World Environment Day, let's celebrate Gen Z and Millennials' commitment to a greener future. By understanding their priorities, businesses can create a more inclusive and sustainable work environment. Companies that embrace a purpose-driven approach can foster greater employee engagement and loyalty. By integrating eco-friendly practices, supporting mental health, and offering flexible work arrangements, employers can create a more inclusive and sustainable workplace, aligning with the values of Gen Zs and Millennials and paving the way for a resilient and forward-thinking organizational culture.