"This year's research highlights two generations grappling with financial insecurity, high stress levels, and growing climate anxiety. They are also considering how rapidly evolving technology, such as GenAI, will impact their jobs and long-term career decisions," said Elizabeth Faber, Global Chief People and Purpose Officer at Deloitte. "However, these two generations see reasons for optimism in the coming year and continue to advocate for the changes they want to see."

Economic optimism despite ongoing financial concerns

For the third consecutive year, the cost of living remains the primary concern for Gen Z and millennials worldwide. A majority of Gen Z (56 percent) and millennials (55 percent) report living paycheck to paycheck. Additionally, about three in ten Gen Z (30 percent) and millennials (32 percent) globally do not feel financially secure.

Nevertheless, there is cautious economic optimism. Just under a third of Gen Zs (32%) and millennials (31%) globally expect the economic state of their country to improve in the coming year. Dutch Gen Z's are even more optimistic. 34% of them expect the economic situation in the Netherlands to improve in the next twelve months (2023: 19%). Dutch millennials are less optimistic than Gen Z's, but see the economic situation less gloomy than last year (2024: 18%, 2023: 10%).

48% of Gen Z's (45%) and 40% of millennials worldwide (28%) expect their personal financial situation to improve in the coming year.

Climate Awareness Drives Career Decisions and Consumer Behaviour

62% of Gen Zs globally (54%) and 59% of millennials worldwide (46%) say they have recently felt anxious or concerned about climate change. These two generations believe that companies play a crucial role in protecting the climate.

54% of Gen Zs (45%) and 48% of millennials (32%) are pressuring their employers to take action on climate change, a trend that has steadily increased in recent years. 20% of Gen Zs (19%) and 19% of millennials worldwide (17%) have changed jobs or industries because of environmental concerns.

More than half of Dutch Gen Zs (59%) and millennials (62%) are taking specific actions to reduce their personal impact on the environment. As consumers, Gen Zs and millennials often make conscious choices to encourage companies to take climate action. For example, 26% of Dutch Gen Zs and one in three millennials (30%) are banning fast fashion. Another quarter (Gen Z: 27%, millennials: 25%) say they will do so in the future. Gen Zs (26%) and millennials (29%) also choose to fly less and follow a vegetarian or vegan diet (Gen Z: 35%, millennials: 37%).

Gen Zs and millennials are uncertain about the impact of GenAI

Gen Zs and millennials expect GenAI to have a significant impact on their career paths and the way they work. Nearly six in ten Gen Zs (59%) and just over half of millennials (52%) globally expect the development of GenAI to force them to look for a job that is less susceptible to automation, such as a practical profession or craft.

Dutch Gen Zs (17%) and millennials (15%) who regularly use GenAI at work believe that the use of GenAI saves time, improves the way they work and can contribute to a better work-life balance. On the other hand, frequent users of GenAI at work are also much more likely to be convinced that GenAI-driven automation will make jobs disappear.

In response, both generations are focusing on upskilling and training. However, only half of Gen Zs (51%) and millennials (45%) globally say their employer adequately trains them on the capabilities and benefits of GenAI. In the Netherlands, the percentages are lower at 38% for Gen Zs and 30% for millennials.

Good work-life balance remains a priority

A good work-life balance remains a priority for Dutch Gen Zs (25%) and millennials (34%) when choosing an employer. Flexibility around working hours is also an important motivation for Dutch Gen Zs (21%) and millennials (18%) to work for an organization.

About one-fifth of Gen Zs (23%) and millennials (19%) experience anxiety or stress related to work; This is partly due to a high workload and a lack of support from managers.

To learn more about the Deloitte Global 2024 Gen Z and Millennial Survey and the Mental Health Deep Dive based on the findings, please visit www.deloitte.com/genzmillennialsurvey.