For eleven years, consultancy Deloitte has been conducting surveys among Generation Z and Millennials worldwide and in Austria. The surveys address the concerns and goals of the two age groups. This year it is clear that financial concerns are central. At the same time, the young people are prepared to commit themselves to, for example, climate protection and sustainability.
Generation Z and Millennials are more pessimistic about the future: the age groups in particular are concerned about climate change, pandemics and war. More than 23,000 young people worldwide, of whom about 500 in Austria, were interviewed for this study.
Generation Z is now considered 19 to 27 year olds, so millennials are between 28 and 39 years old.
Generations have refocused
“Millennials and Gen Z have refocused during the pandemic years,” said Elisa Aichinger, Partner at Deloitte Austria. The main themes for young people are the climate crisis and maintaining financial security. About 40 percent see the threat of the climate crisis as the top concern, closely followed by the rising cost of living.
Expect deterioration
Austria’s younger generations, in general, are even more concerned than their global peers: About half of those surveyed in Austria expect the general economic and socio-political situation to deteriorate over the next 12 months – about 40 percent expect this worldwide.
Financial expectations have also fallen: only half can easily cover their monthly living expenses and only nearly 40 percent expect a secure retirement plan.
Too little government involvement
Nearly two-thirds of those surveyed in Austria believe that the world is at a critical turning point in responding to climate change in a timely manner. Only five percent believe that the Austrian government is doing enough to combat the climate crisis. At the same time, the willingness to get personally involved is very high: more than half say they work consistently to behave in a climate-friendly way.
Fear of burnout
The changes in the world of values have a direct impact on loyalty – especially among Generation Z: nearly 40 percent of those surveyed from this age group want to quit their job in the next two years. In addition to poor wages, meaninglessness and hopelessness, the main reasons for this are the high degree of stress and fear of burnout.
Many have used the pandemic years to weigh up their priorities in life. The desire for hybrid working methods has also increased strongly: about three quarters would like to work more remotely and have flexible working hours.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
