Deloitte Global’s 2025 Gen Z and Millennial Survey finds these generations focused on growth as they seek money, meaning, and well-being

Auckland, May 15, 2025 – The 14^th edition of Deloitte Global’s Gen Z and Millennial Survey examines the responses of more than 23,000 participants across 44 countries.

Projected to make up 74% of the global workplace by 2030, the survey finds these generations are seeking a “trifecta” of money, meaning, and well-being while building the technical and soft skills they believe will prepare them for the workplace of the future.

“Instead of chasing corner offices, Gen Z and millennial workforces are looking for careers that pay fairly, align with their values and support their well-being,” says Deloitte New Zealand Partner, Lauren Foster. “This shift presents a challenge for employers to rethink what leadership pathways look like and how they can support purpose-driven growth at work.”

Learning and development and the leadership gap

Gen Zs prioritise career growth opportunities and learning when choosing an employer, but few want to reach senior leadership positions.

Both Gen Zs and millennials expect their employers and managers to support learning and development, but there’s a wide gap between their expectations and experiences. Some also have doubts about higher education’s ability to prepare students for the job market:

• Climbing the corporate ladder is not the end goal, but they’re still ambitious: Only 6% of Gen Zs globally consider reaching a senior leadership position as a primary career goal, but they cite learning and development among the top three reasons they chose their current employer, just behind good work/life balance and opportunities to progress in their careers.
• Gen Zs and millennials want more from their managers on key areas of their development: Fifty-seven percent of New Zealand Gen Zs and 62% of New Zealand millennials want their managers to teach and mentor them, but only 44% of Gen Zs and 38% of millennials say this happens. They also would like their managers to provide more guidance and support and to do more to inspire and motivate them.
• These generations are questioning the value of higher education: Thirty percent of Gen Zs and 37% of millennials in New Zealand said they decided not to pursue higher education compared to 31% of Gen Zs and 32% of millennials globally. For New Zealand respondents, the high cost of tuition was the top concern.

“More young people are questioning the value of traditional higher education, especially as the cost of living rises,” Foster said.

“The New Zealand snapshot shows the cost of tuition is the main concern for Gen Zs and millennials when it comes to the higher education system – and more so than what was seen globally. Fifty-seven percent of Gen Zs and 49% of millennials in New Zealand were concerned about the cost of tuition compared to 40% of Gen Zs and 38% of millennials globally.”

The impact of GenAI at work

Gen Zs and millennials are using Generative AI (GenAI) more frequently, prioritising training to boost their skills, and seeing improvements in their work quality. However, concerns about GenAI’s impact on the workforce persist:

• GenAI usage is continuing to rise: Three-quarters of Gen Zs (74%) and millennials (77%) globally believe GenAI will impact the way they work within the next year. In New Zealand, 36% of Gen Zs and 48% of millennials are already using GenAI in their day-to-day work.
• GenAI users have mixed feelings about its impact: GenAI users report that GenAI improves the quality of their work and their work/life balance. But more than six in 10 also worry it will eliminate jobs and say it is motivating them to seek jobs that they perceive as safe from GenAI-driven disruption.
• Soft skills are seen as critical for career advancement: As they work alongside GenAI, more than eight in 10 Gen Zs and millennials globally say developing soft skills, like empathy and leadership, is even more important for career advancement than honing technical skills.

“Gen Zs and millennials are adopting generative AI tools at work and acknowledge the benefits of doing so,” Foster said.

“However, there’s an undercurrent of concern too. They are enjoying the potential of these tools but wary of what they could mean for their own job security and the human side of work.”

The pursuit of money, meaning, and well-being

When asked about the factors that impact their career decisions, Gen Zs and millennials gave responses that fell into three categories: money, meaning, and well-being.

The survey underscores that these areas are tightly interconnected as respondents seek to find the right balance:

• Financial insecurity is on the rise: Nearly half of Gen Zs (48%) and millennials (46%) globally say they do not feel financially secure, up from 30% of Gen Zs and 32% of millennials in last year’s survey. In New Zealand, 64% of Gen Zs and 56% of millennials say they live paycheck-to-paycheck, while around half (47% Gen Zs and 53% millennials) say they worry they won’t be able to retire with financial comfort.  
• Purpose influences job satisfaction: Roughly nine in 10 Gen Zs (89%) and millennials (92%) globally consider a sense of purpose to be important to their job satisfaction and well-being. But purpose at work is subjective. Some Gen Zs and millennials say it’s about having a positive impact on society. Others say their purpose is to earn money, find work/life balance, or to learn new skills so they have the time and resources to drive change outside of working hours.
• Workplace stress is affecting well-being: Forty-seven percent of Gen Zs and 45% of millennials in New Zealand said they feel stressed or anxious all or most of the time. Nearly a third (31% of Gen Zs and 29% of millennials) of these generations in New Zealand said their job was a factor contributing to their feelings of anxiety or stress.  

“Continued financial pressures and workplace stress are taking a toll on Gen Z and millennial workers,” Foster said.

“Many are feeling stretched, both economically and emotionally, but they’re also driving a shift in what they expect from employers. They’re looking for workplaces that actively support wellbeing, offer flexibility, and create a culture where people can thrive – not just survive.”

To learn more, find the full report and New Zealand snapshot here.