Big demands

and high
expectations
The Deloitte
Millennial
Survey
January 2014
Executive summary
Big demands and
high expectations:
What Generation Y
wants from business, foster innovative thinking, develop their skills,
and make a positive contribution to society.
“To attract and retain talent business
government, and the The study also reveals that Millennials believe
businesses are not currently doing as much as
needs to show Millennials it is
future workplace they could to develop their leadership skills and
that they need to nurture their future leaders,
innovative and in tune with their
world-view,” said Barry Salzberg,
especially as they cannot count on them biding CEO, DTTL. “Our society—globally

B
ig demands and high expectations
their time until senior positions arise. —faces many critical issues and
summarize the results of this year’s it’s become clear no sector should
annual Deloitte Millennial (Generation Y)
Other key findings from the ‘go it alone.’ By working together
survey include:
Survey. Across the globe 70 percent and combining their different skills,
of tomorrow’s future leaders might ‘reject’ BUSINESS COULD ACHIEVE MORE. business, governments and non-
what business as traditionally organizational While most Millennials believe business government organizations (NGOs)
has to offer, preferring to work independently is having a positive impact on society by have an opportunity to reignite the
by digital means in the long term. This and generating jobs (46 percent) and increasing Millennial generation and make
other findings in Deloitte’s annual study of prosperity (71 percent), they think business
Generation Y point to significant challenges
real progress in solving society’s
can do much more to address society’s
facing business leaders if they are to meet the challenges in the areas of most concern:
problems.”
expectations of the Millennial generation. resource scarcity (56 percent), climate
Barry Salzberg
change (55 percent) and income equality
Millennials, who are already emerging as leaders Chief Executive Officer
(49 percent). Additionally, 50 percent of
in technology and other industries and will Deloitte Touche Tohmatsu Limited
Millennials surveyed want to work for a
comprise 75 percent of the global workforce business with ethical practices.
by 2025, want to work for organizations that

2 The Deloitte Millennial Survey – Executive summary

 GOVERNMENT IS NOT DOING ENOUGH.
Millennials say government has the
greatest potential to address society’s
biggest issues but are overwhelmingly
failing to do so. Almost half felt
governments were having a negative
impact on areas identified as top
challenges: unemployment (47 percent),
resource scarcity (43 percent) and income
inequality (56 percent).
ORGANIZATIONS MUST FOSTER
INNOVATIVE THINKING. Millennials
want to work for organizations that
support innovation. In fact, 78 percent
of Millennials were strongly influenced
by how innovative a company was when
deciding if they wanted to work there, but
most say their current employer does not
encourage them to think creatively. They
believe the biggest barriers of innovation
were management attitude (63 percent),
operational structures and procedures
(61 percent), and employee skills, attitudes,
and diversity (39 percent).
3 The Deloitte Millennial Survey – Executive summary
ORGANIZATIONS MUST NURTURE
EMERGING LEADERS. Almost one in four
“It’s clear that Millennials want to
Millennials are ‘asking for a chance’ to
show their leadership skills. Additionally,
innovate and businesses should be
50 percent believe their organizations listening,” said Salzberg. “Fostering
could do more to develop future leaders. a culture of innovation will not only
help retain high-performing talent
MILLENNIALS ARE EAGER TO MAKE
A DIFFERENCE. Millennials believe the
but it will also drive growth by
creating opportunities for individuals
success of a business should be measured
to unlock the next game-changing
in terms of more than just its financial
performance, with a focus on improving innovations.”
society among the most important things
it should seek to achieve. Millennials are
also charitable and keen to participate
in ‘public life:’ 63 percent of Millennials
gave to charities, 43 percent actively
volunteered or were a member of a
community organization and 52 percent
signed petitions.
An ambitious vision of what business
can achieve
Millennials most often cite four issues as the
greatest challenges facing societies around
the world: unemployment, resource scarcity,
climate change/protecting the environment,
and inequality of incomes and wealth. (Figure 1)
Millennials feel these and other challenges
should not be the exclusive province of either
business or government. Both have important
roles to play in addressing them.
Not surprisingly, almost 90 percent of
Millennials feel business could do ‘a great deal’
or ‘a fair amount’ to address unemployment
while roughly three-quarters say the same
about inequality of incomes and wealth. (Figure
2) But Millennials have a much broader vision of
the potential of business. More than 80 percent
of Millennials believe business has the potential
to address the other two top-rated challenges:
climate change/protecting the environment
and resource scarcity. In fact, more than half of
Millennials feel business can develop products
4 The Deloitte Millennial Survey – Executive summary
and services or adopt behaviors that will have
a positive impact on each of the 20 challenges Business has the potential to
included in the survey. In Deloitte’s 2012 survey, develop innovative products
almost all Millennials said it is acceptable for and services to help address
business to make a profit from innovations that
the most important issues
benefit society.
facing societies around the
Millennials are even more positive about the
world.
promise of government, with roughly three-
quarters or more saying it has the potential to
address today’s challenges. (Figure 3) They not
only believe government has the potential to
address societal issues such as education, skills
The greatest challenges
and training, and climate change/protecting the
environment, but more than 80 percent also see
facing society are not the
an important role for government in economic exclusive province of either
issues such as unemployment and inequality of business or government. Both
incomes and wealth.1 need to work collaboratively
to address them.
1
The questions about the potential of government to
address society’s challenges and the impact government
is currently having on them were not asked in China.
Deloitte’s prior survey found that Millennials
believe solutions to society’s challenges will not
come from business and government acting
on their own. Individual businesses will need
to work with governments, universities, and
non-profit organizations, as well as with other
companies. The clear message is that businesses
need to look outside the confines of their own
enterprises and seek collaborative partners if
they are to maximize the chances of finding
innovative solutions to the issues facing society.
But its performance is falling short
While Millennials have a positive perception
of business, most feel that it is not achieving
its potential. Roughly three-quarters believe
businesses have a positive overall impact on
the wider society in which they operate. When
it comes to specific challenges, Millennials
think business is having a positive impact on
such issues as education, skills, and training
(38 percent net positive impact), stability
of national economies (27 percent) and
unemployment (12 percent).2 (Figure 4)
For several of the top-rated challenges,
5 The Deloitte Millennial Survey – Executive summary
however, more Millennials feel business is
having a negative impact than a positive impact: Although not fully achieving
inequality of incomes and wealth (-18 percent its potential, Millennials feel
net negative impact), climate change/protecting business is having a positive
the environment (-25 percent), and resource
impact in areas traditionally
scarcity (-28 percent).
seen as the responsibility
Millennials are even more critical of government.
of government such as
Government is seen as having a net negative education, skills, and training
impact on three of the top challenges: and healthcare/disease
unemployment (-15 percent), inequality of prevention.
incomes and wealth (-31 percent), and resource
scarcity (-12 percent). (Figure 4) In some areas
where government has traditionally had an
important role, Millennials believe business is
actually having a more positive impact including
education, skills, and training (+38 percent net
positive impact for business; +6 percent for
government) and healthcare/disease prevention
(+18 percent for business; +8 percent for
government).
2
The “net impact” for each challenge is the percentage of
respondents who said business (or government) is having
a positive impact minus the percentage that said it is
having a negative impact.
In their own words: The impact of business on society
MOST MILLENNIALS FEEL BUSINESS IS HAVING
A POSITIVE IMPACT ON SOCIETY
Businesses are essential to the
economy and society itself. They
Businesses are driving the
underpin growth and innovation,
growth of the economy.
provide jobs and services which
Singapore
keep the population moving
forward. They are the precursors
of modern technology and new
innovation.
United Kingdom
They create employment and
can serve as role models and
demonstrate how to produce/
trade in a sustainable way.
Germany
Technology is improving steadily,
initially focused on generating profit
for business but over time it seeps
back into society offering new ways
to tackle old problems. Overall making
society more efficient and positively
affecting the general population.
South Africa
6 The Deloitte Millennial Survey – Executive summary
BUT MANY DO NOT TRUST THE ACTIONS
OR MOTIVES OF BUSINESS
Many large corporate businesses in the
United States only promote the growth
of the wealthy and give nothing back
to the middle or lower classes. They
care more about their bottom line and
their shareholders than they do about
contributing to charities.
United States
Most businesses around the world are running their
corporations with a single motive: to generate more
profits. In an attempt to increase their bottom lines using
resources like land, labour and capital in the short term
[and] completely ignoring long term consequences of
their decision. Although Corporate Social Responsibility
has started with much fanfare, on the ground level
noticeable changes have not yet been observed.
India
I believe that companies and
businesses only think about their Business promotes the advancement
immediate profits. They are not of society very well, but current
concerned with what tomorrow will businesses pollute the environment,
bring and what the damage of their and have a money making black
relentless search for capital will do heart, squeezing employees.
to future generations. China
Brazil
Building an innovative organization
Who will generate the innovative solutions
needed to address the challenges confronting
societies around the world? Millennials most
often cite business and individual entrepreneurs
(44 percent), although substantial percentages
expect either universities (23 percent) or
governments (22 percent) to be the leading
source of innovations. In fact, no group has
a monopoly on creative approaches and new
thinking. Innovative solutions are likely to come
from many sources.
For Millennials, fostering innovative,
‘out-of-the-box’ solutions is more a matter of
business processes than individual genius.
Almost 60 percent of Millennials believe
organizations can become good at innovation
by following established processes and that
innovation can be learned and is repeatable,
rather than being spontaneous and random.
7 The Deloitte Millennial Survey – Executive summary
To encourage the innovative ideas of its
professionals, whether Millennials or their older Innovative solutions to
colleagues, businesses will need to examine society’s challenges will
their culture and practices. Roughly two-thirds come from a variety of
of Millennials feel the outlook and attitudes of sources including business,
management are serious barriers to innovation,
government, universities, and
such as a reluctance to take risks; a reliance on
nonprofit organizations.
existing products, services, and ways of doing
business; and an unwillingness to collaborate
with other businesses or universities. A
similar percentage cite a variety of organizational
barriers that impede new thinking including
poor channels of communication across the
organization, lack of a formal process to
encourage innovation, and a poor organizational
structure.
Attracting—and retaining—the best
and the brightest
Millennials want to work for organizations that
foster innovative thinking, develop their skills as
leaders and wish to see them making a positive
contribution to society. But many Millennials find
business lacking in these areas.
As in the prior survey, an organization’s support rebuilding trust. While attitudes toward business
for innovation is important for Millennials. More in emerging markets are almost uniformly Roughly 70 percent of
than three-quarters of Millennials say they positive, many Millennials in developed markets Millennials see themselves
are strongly influenced by thoughts of how have lost faith in the motives and actions of as working independently at
innovative an organization is when deciding business. (Figure 5) Less than half of Millennials in some point in their lives, rather
if they want to work for it. Being seen as an developed markets believe that business shows
than being employed within
innovative organization is even more important a strong commitment to being sustainable, that
a traditional organizational
in attracting Millennials in emerging markets. its leaders are committed to helping to improve
A reputation for innovation is important for society, or that it behaves in an ethical manner.
structure.
roughly 90 percent of Millennials in China and
India when they choose an employer. Businesses that fail to address these concerns
may find they will lose skilled professionals in
Only about half of Millennials feel the the years ahead, as many of the most talented
organization they work for encourages its members of the Millennial generation decide to
people to suggest new ways of doing things leave large organizations and instead work for
or rewards them for innovative ideas. Further, themselves. Roughly 70 percent of Millennials
many Millennials believe they are not being see themselves as working independently at
given the opportunity to develop professionally. some point, rather than being employed within
Only roughly half of Millennials agree that their a traditional organizational structure. The
organization does all it can to develop their skills danger of losing talented Millennials is even
as a leader, while in France, Spain, South Korea, greater in emerging markets. While 52 percent
and Japan this figure was less than 40 percent. of Millennials in developed markets expect to
In developed markets, business faces an eventually work independently, this figure rises to
additional challenge with this generation: 82 percent in emerging markets.

8 The Deloitte Millennial Survey – Executive summary


A new generation with new
expectations
As they advance in their careers, hastened
by the retirement of the large Baby-Boom
generation, Millennials are rapidly assuming
positions of greater responsibility. Business will
gain a new generation of skilled professionals—
provided it can meet their expectations.
Although Millennials value its role in creating
jobs and expanding prosperity, they have
larger ambitions for business. Millennials see a
large gap between the potential of business to
address the challenges facing society and the
actual impact it is having. Fulfilling this potential
will require businesses to do a better job of
encouraging new thinking within their own
organizations to develop innovative products
and services, while also working collaboratively
with government, with nonprofit organizations,
and with other companies to develop creative
solutions.
9 The Deloitte Millennial Survey – Executive summary
About the Survey
The survey gathered the views of more
than 7,800 Millennials (those born
The stakes are high. Millennials are today
in 1983 or later) who had a college
forming impressions of business that will last
or university degree and who were
a lifetime. Millennials want to leave their mark
employed full-time. There were roughly
on the world by working for organizations that
300 respondents each in 26 countries in
benefit society, encourage innovation, and
North America, Western Europe, Latin
provide them the opportunity to expand their
America, and Asia-Pacific. The survey
skills. More than previous generations, they are
was conducted online from October 10 –
ready to work independently if their needs are
November 11, 2013 and was compiled by
not being met by a traditional organization.
Milward Brown.
Businesses that can meet these higher
expectations have the prospect of developing
The Millennials surveyed worked in
commercially viable products and services that
organizations of a variety of sizes: less
benefit society, while attracting and retaining
than 100 employees (26 percent),
the most talented members of this emerging
100 to 999 (42 percent), and 1,000 or
generation.
more (32 percent). The respondents
were employed in various types of
organizations including public-owned
companies (20 percent), private-owned
businesses (58 percent), public sector
organizations (16 percent), not-for-profit
organizations (3 percent), and other
types (3 percent).
Figure 1

TOP CHALLENGES FACING SOCIETY IN THE NEXT 5–10 YEARS

Economic Environmental Social Crime / Health / Education

TOP CHALLENGES FACING SOCIETY IN THE NEXT 5–10 YEARS
Political instability / Conflict / Terrorism Privacy / Cyber security

Top-rated challenge

37%
33% Economic Environmental Social Crime / Health / Education
32%
28% Political instability / Conflict / Terrorism Privacy / Cyber security

23% 22% 21% 21% 21% 20% 20%

19% 18% 18% 17% 16% 15%
13%

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10 The Deloitte Millennial Survey – Executive summary

Figure 2

POTENTIAL OF BUSINESS TO MEET SOCIETY’S CHALLENGES

PERCENTAGE RESPONDING “A GREAT DEAL/FAIR AMOUNT”*

Economic Environmental Social Crime / Health / Education Economic Environmental Social Crime / Health / Education

Political instability / Conflict / Terrorism Privacy / Cyber security Political instability / Conflict / Terrorism Privacy / Cyber security

Top-rated challenge

88%
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73% 72% 72% 71%
66% 64% 59%
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*Of those who consider each challenge to be among the most important facing society.

11 The Deloitte Millennial Survey – Executive summary

 Figure 3

POTENTIAL OF GOVERNMENT TO MEET SOCIETY’S CHALLENGES

PERCENTAGE RESPONDING “A GREAT DEAL/FAIR AMOUNT”*

Economic Environmental Social Crime / Health / Education

Political instability / Conflict / Terrorism Privacy / Cyber security Economic Environmental Social Crime/Health/Education
Top-rated challenge Political instability/Conflict/Terrorism Privacy/cyber-security

90%
87% 87% 87% 86% 86% 86% 85% 84% 84% 84% 83% 83% 82% 80% 79% 79% 79% 78%
73%

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*Of those who consider each challenge to be among the most important facing society.
Pr

12 The Deloitte Millennial Survey – Executive summary

Figure 4 Business Government

IMPACT OF BUSINESS Education, skills and training 38%

6%
AND GOVERNMENT ON
Stability national economies 27%
SOCIETY’S CHALLENGES -4%
NET POSITIVE OR Cyber security 24%
7%
NEGATIVE IMPACT*
Healthcare / Disease prevention 18%
8%
Unemployment 12%
-15%
Business
Community cohesion / Social involvement 11%
-7%
Government
Crime / Personal safety 8%
-14%
Top-rated challenge
Food supplies / Hunger / Famine 8%
4%
Net Impact = percentage Ageing populations / Demographic shift 2%
responding -2%
“positive impact” Terrorism 0%
minus percentage 7%
responding “negative Consequences of natural disasters -2%
impact” 11%
Rights of minority groups -3%
-4%
Inflation -4%
-23%
Wars/conflicts between countries -4%
-15%
Political instability -7%
-33%
-8%
Privacy of individuals/use of personal data -4%
-12%
Social unrest -32%
-18%
Inequality - incomes / Wealth -31%
-25%
*Of those who consider each Climate change / Protecting environment 7%
challenge to be among the most
important facing society. -28%
Resource scarcity -12%
13 The Deloitte Millennial Survey – Executive summary
Figure 5

VIEWS OF THE MOTIVATIONS AND BEHAVIOR OF BUSINESS

PERCENTAGE AGREE

75% 74%
71%

64% 63% 64%

62%
60%
56% 56%
54%
52%
48% 49%
45%
43% 42%
40%

They are helping to They show a strong Their leaders are They behave in an They work hard to They operate in an open
increase overall levels of commitment to being committed to helping to ethical manner minimize the and transparent manner
prosperity sustainable improve society environmental impact
of their operations

Global Developed markets Emerging markets

14 The Deloitte Millennial Survey – Executive summary

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