2020 Deloitte Global Millennial Survey Report Resilient generations hold the key to building a “better normal” About Deloitte Insights Deloitte Insights publishes original articles, reports and periodicals that provide insights for businesses, the public sector and NGOs. Our goal is to draw upon research and experience from throughout our professional services organization, and that of coauthors in academia and business, to advance the conversation on a broad spectrum of topics of interest to executives and government leaders. Deloitte Insights is an imprint of Deloitte Development LLC. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in more than 150 countries and territories serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 286,000 people make an impact that matters at www.deloitte.com. Copyright © 2020. For information, contact Deloitte Touche Tohmatsu Limited. See The Deloitte Global Millennial Survey 2020 for more information. www.deloitte.com/millennialsurvey The impact of the pandemic hit millennials and Gen Zs hard. But this did not lead to an increase in uneasiness and pessimism as one might expect. Millennials and Gen Zs are resilient and they see this moment in time as a chance to reset. They aren’t just hoping for a better world to emerge after the pandemic, they want to lead the change. Financial prudence may help them weather the crisis. Employers get high marks for their pandemic responses, but business must do more for society During the pandemic, stress levels have fallen slightly, perhaps thanks to spending more time with family and less time commuting in traffic jams or on packed trains and subways, and a general slowdown of life. While long-term finances are a top cause of stress, more than half of millennials and 43% of Gen Zs say that they could cope if they unexpectedly received a large bill. Despite positive reactions to business and employers’ pandemic response, overall, millennials and Gen Zs do not believe business has a positive impact on society—down 10 points from their responses from before the pandemic. 3 in 5 millennials and Gen Zs think businesses have shown a genuine commitment to society during the pandemic (Apr 2019 – May 2020). 0 10 20 30 40 50 60 Pulse survey (Apr 2020 – May 2020) Primary survey (Nov 2019 – Jan 2020) 44% % who say they're stressed all or most of the time 42% 51% 50% The pandemic has brought an even stronger sense of individual responsibility. of pulse survey respondents think government and business need to make greater efforts to protect the environment, yet nearly two-thirds worry it will be less of a priority for both entities because of the economic impact of the pandemic. 30% 22% 29% 28% 27% 23% 80% The pandemic has given me a strong sense that everyone around the world is “in this together” The pandemic has given me a strong sense that people are trying to “do the right thing” In response to the pandemic, I have taken immediate actions to try and have a positive impact on my community In response to the pandemic, once restrictions are lifted, I will take actions to have a positive impact on my community This pandemic has highlighted new issues for me and made me more sympathetic towards the needs of others in my local community This pandemic has inspired me to take positive action to improve my own life This pandemic has highlighted new issues for me and made me more sympathetic towards the needs of different people around the world Climate change is a top concern for millennials and Gen Zs. Even as the pandemic unfolded around the world, this remained constant. ... but mental health is still a critical issue. In the primary survey, 1 in 3 respondents cited they took time off of work in the past year because of stress. Millennials who were candid about their absences were 3 times as likely to say their organizations provided: little or no support 16% strong mental health support 52% rather than Top three concerns for Millz and Gen Zs Pulse survey (Apr 2020 – May 2020) Gen Zs Millennials Gen Zs Millennials Unemployment Climate change/ protecting the environment Health care/ disease prevention 54% 62% 56% 64% 60% 69% 61% 72% 65% 74% 0 10 20 30 4050 60 70 80 I actively budget my money so that I know how much I can spend over the week/month I feel that I have the right level of knowledge to make informed decisions about my finances I feel confident making decisions about financial products and services I have set myself clear financial goals for my long-term future I have set myself clear financial goals for the next five years % refers to those who agree with each statement Primary survey (Nov 2019 – Jan 2020) Stress levels are down ... Close to three in four millennials and Gen Zs said the pandemic has inspired them to make a positive impact on their communities. Gen Zs Millennials 74% 76% 75% 76% 73% 75% 73% 74% 68% 71% 62% 67% 62% 65% % refers to those who agree with each statement Pulse survey (Apr 2020 – May 2020) Gen Zs Millennials
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2020 Deloitte Global Millennial Survey ReportResilient generations hold the key to building a “better normal”
About Deloitte InsightsDeloitte Insights publishes original articles, reports and periodicals that provide insights for businesses, the public sector and NGOs. Our goal is to draw upon research and experience from throughout our professional services organization, and that of coauthors in academia and business, to advance the conversation on a broad spectrum of topics of interest to executives and government leaders.Deloitte Insights is an imprint of Deloitte Development LLC.
About DeloitteDeloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in more than 150 countries and territories serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 286,000 people make an impact that matters at www.deloitte.com.
Copyright © 2020. For information, contact Deloitte Touche Tohmatsu Limited.
See The Deloitte Global Millennial Survey 2020 for more information.www.deloitte.com/millennialsurvey
The impact of the pandemic hit millennials and Gen Zs hard. But this did not lead to an increase in uneasiness and pessimism as one might expect. Millennials and
Gen Zs are resilient and they see this moment in time as a chance to reset.
They aren’t just hoping for a better world to emerge after the pandemic, they want to lead the change.
Financial prudence may help them weather the crisis.
Employers get high marks for their pandemic responses, but business must do more for society
During the pandemic, stress levels have fallen slightly, perhaps thanks to spending more time with family and less time commuting in traffic jams or on packed trains and subways, and a general slowdown of life.
While long-term finances are a top cause of stress, more than half of millennials
and 43% of Gen Zssay that they could cope if they
unexpectedly received a large bill.
Despite positive reactions to business and employers’ pandemic response, overall, millennials and Gen Zs do not believe business has a positive impact on society—down 10 points from their responses from before the pandemic.
3 in 5 millennials and Gen Zs think businesses have shown a genuine commitment to society during the pandemic (Apr 2019 – May 2020).
0 10 20 30 40 50 60
Pulse survey(Apr 2020 – May 2020)
Primary survey(Nov 2019 – Jan 2020)
44%
% who say they're stressed all or most of the time
42%
51%
50%
The pandemic has brought an even stronger sense of individual responsibility.
of pulse survey respondents think government and business need to make greater efforts to protect the environment, yet nearly two-thirds worry it will be less of a priority for both entities because of the economic impact of the pandemic.
30%
22%
29%28% 27%
23%
80%
The pandemic has given me a strong
sense that everyone around the world is
“in this together”
The pandemic has given me a strong sense that people are trying to “do the right thing”
In response to the pandemic, I have taken immediate actions to try and
have a positive impact on my community
In response to the pandemic, once restrictions are lifted, I will take
actions to have a positive impact on
my community
This pandemic has highlighted new issues for me and made me
more sympathetic towards the needs of
others in my local community
This pandemic has inspired me to take
positive action to improve my own life
This pandemic has highlighted new issues for me and made me
more sympathetic towards the needs of
different people around the world
Climate change is a top concern for millennials and Gen Zs. Even as the pandemic unfolded around the world, this remained constant.
... but mental health is still a critical issue.In the primary survey, 1 in 3 respondents cited they
took time off of work in the past year because of stress.Millennials who were candid about their absences were 3 times as likely to say their organizations provided:
little or no support
16%strong mental health support
52%rather than
Top three concerns for Millz and Gen ZsPulse survey (Apr 2020 – May 2020)
Gen Zs Millennials
Gen Zs Millennials
UnemploymentClimate change/protecting the environment
Health care/disease
prevention
54%
62%
56%
64%
60%
69%
61%
72%
65%
74%
0 1020 30 4050 60 70 80
I actively budget my money so that I knowhow much I can spend over the week/month
I feel that I have the right level of knowledgeto make informed decisions about my finances
I feel confident making decisionsabout financial products and services
I have set myself clear financial goalsfor my long-term future
I have set myself clear financial goalsfor the next five years
% refers to those who agree with each statementPrimary survey (Nov 2019 – Jan 2020)
Stress levels are down ...
Close to three in four millennials and Gen Zs said the pandemic has inspired them to make a positive impact on their communities.
Gen Zs Millennials
74% 76% 75% 76% 73% 75% 73% 74%68% 71%
62% 67% 62% 65%
% refers to those who agree with each statementPulse survey (Apr 2020 – May 2020)
Gen Zs Millennials
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