The Deloitte Global 2022 Gen Z & Millennial Survey
Deloitte research shows millennials and Gen Zs are worried about the cost of living, climate change, wealth inequality, geopolitical conflicts, and the ongoing COVID-19 pandemic and they are determined to drive positive societal change. However, they are also struggling with daily life challenges such as financial anxiety, lack of work/life balance, and consistently high stress levels.
Executive summary
Now in its 11th year, the 2022 survey finds Gen Zs and millennials, both in New Zealand and around the world, are striving for balance and advocating change. As these generations reassess what matters to them most they are grappling with the current state of the world and are fighting to reconcile their desire for change with the demands and constraints of everyday life.
Financial anxiety and burn out are a struggle for many, and these generations are pushing for more purposeful – and flexible – work while at the same time pressing their employers to tackle societal matters which they can get directly involved in. They’ve also inspired organisations to address workplace mental health, increase learning and development opportunities, provide higher compensation. These are all strategies which will help employers attract and retain talent in the current environment.
Download the New Zealand survey findings
Research scope
This year’s survey reflects the responses of 23,220 Generation Zs and millennials, from 46 countries across the globe. Fieldwork was completed between 24 November 2021 and 4 January 2022.
For the New Zealand specific information 500 respondents took part in the survey (300 Gen Zs and 200 millennials).
As defined in the study, Gen Z respondents were born between January 1995 and December 2003, and millennial respondents were born between January 1983 and December 1994.
A New Zealand perspective
The key findings of the survey were:
- Cost of living is the number one issue of greatest concern for both New Zealand millennials (53%) and Gen Zs (38%).
- Both Gen Zs and millennials would like to see further moves to hybrid working arrangements.
- Stress levels are high across both Gen Zs and millennials. We saw an increase this year amongst New Zealand respondents who say they feel anxious or stressed all or most of the time, whereas at a global level there was no change amongst Gen Zs and a decrease amongst millennials compared to 2021.
- Kiwi millennials and Gen Zs were aligned with their global counterparts, with 90% of all respondents taking efforts to reduce their personal environmental impact.
- Overall, the Millz Mood Monitor saw both New Zealand Gen Zs and millennials deteriorate, with Gen Zs moving down 10 points and millennials down 3 points. Globally, there was a minor improvement amongst millennials by 1 point and no change amongst Gen Zs.
