(The Deloitte Global Millennial Survey Report 2021-Summary)
COVID-19 disruptions are testing times on the resilience and sustainability in businesses. A noteworthy effect of the pandemic is the millennials and Gen Z, with their lucid ideas and the determination to speak, emerge a force to reckon with. With the pandemic pain receding, their ideas gets manifested into the new normal.
Perspective Pointers
The Deloitte Global Millennial Survey Report 2021 gives insights to the youngsters’ perspective about the work arena. Excerpts:
- Health and Employment: 66% of the millennials and Gen Z are anxiety struck. Anxiety affects the work schedule. Major stress-inducers are financial insecurity, family well-being and job uncertainty. Many preferred to work through it under compulsion and they did not get any support from the bosses.
- Income and Wealth Inequality: 65% of the youngsters are concerned about the gap in the distribution of wealth and income among the employed people. They feel that remedy lies in legislations.
- Discrimination: 60% of the millennials and Gen Z consider discrimination as a major hindrance for the progress. This includes discrimination towards youth by the elder generation.
- Support for Stakeholders’ Capitalism: 50% of the respondents support stakeholders’ capitalism i.e. being sensitive to all stakeholders rather than focusing solely on profit and the shareholders. Though they view the promises by the corporates sincere, some more solid actions are required to make it more visible.
- Environmental Concern: 40% of the respondents are concerned about environment and climate issues. They felt that these issues impacted the businesses and purchase decisions of the consumers. They feel that the commitment to address the environmental concerns will improve once the pandemic scare dies down.
Seizing the Opportunity
When the world around was wailing and complaining about the pandemic woes, many millennials converted the adversity into advantage through professional and personal improvement.
How could they do it?
- Reskilling through online courses.
- Improvement in diet and exercise.
- Decluttering the homes.
- Connecting (virtually) with family and friends.
- Additional savings as outdoor activities were minimal.
After the Pandemic
How the World Would Look Like?
- A compassionate world sensitive to the other’s needs.
- Volunteers to help the needy.
- A hybrid work environment.
- Less travel, business or otherwise.
- Adaptable workforce, easily re-deployable according to needs.
Immediate Priorities
- Visit to families and friends
- Dining out
- Movies and entertainments at theatres and other venues.
- Pleasurable trips and picnics
Conclusion
The pandemic reinforced the youth power in business environment. They have definite opinions about the post pandemic work scenario. The younger generation want organizations to work together—governments, educational systems and business—to drive the change on a much broader scale.
Learners’ Opportunity
The world belongs to the young. Taking them along is an essential human resources initiative. To learn more about human resources management, check our program @https://online.ifheindia.org/
Discussion Question
What would be your first move when the country is declared pandemic free? Why?
Key Words
#HRM#Deloitte# COVID-19#Work Pattern#Millennials#Gen Z
Source Article
The Deloitte Global Millennial Survey Report 2021. ”A call for accountability and action.”