Millennials, or the 18-35 cohort, became primary-age workers at the time of the great recession of the late 2000s. Often labelled as downbeat, disillusioned and lacking resilience, the so-called "snowflake generation" has hardly had it easy in the optics space.
While the myth of millennial fragility has been countered in the age of #MeToo, generational debates are mostly broad-brush assumptions. A pandemic has refreshed anxieties around an economic cataclysm again and how it will impact different age groups. While most studies are likely to paint a foreboding picture of mounting debts and job insecurity in the aftermath of yet another global crisis, a new study by Deloitte offers some hope for long-suffering millennials.
A new survey by Deloitte highlights how millennials and the Gen-Z have initiated positive actions towards communities and climate. The survey reveals how the life-altering consequences of the pandemic have made Indian millennials and Gen-Z view COVID-19 as the tipping point at which they are holding themselves and institutions accountable to bring about a more sustainable and equitable world. The 10th annual Millennial Survey solicited the views of 22,928 respondents from 45 countries from around the world. For the first time, Gen Zs (born between 1995 and 2003) were included in the fieldwork.
Deloitte’s Millennial and Gen Z Survey 2021 for India highlights how 91 per cent of millennials and 84 per cent of Gen Zers feel that the pandemic has inspired them to take positive action to improve their own life; 89 per cent of millennials and 82 per cent of Gen Zers have taken actions to try and have a positive impact on their community; nine in ten Indian millennials (90 per cent) and Gen Zs (87 per cent) feel optimistic that the changes seen during the pandemic can help reverse environmental damage. Over half of both groups are confident that people’s commitment to the environment will improve after the pandemic, a perception that far exceeds the global average.
“Over the past year, our workplace has seen rapid transformation. Young people are resolved to improve the world and create a sense of togetherness. In these testing times, where every action matters, it is very important for companies to have a ‘purpose-driven’ strategy and create a positive impact,” said S.V. Nathan, Partner and Chief Talent Officer, Deloitte India.
According to the report, Indian millennials and Gen Zers are much more optimistic that the economic situation of their country will improve over the next 12 months, compared with their global peers. However, Gen Z felt less optimistic. "Half of Indian millennials still expect the country’s socio-political situation to improve, though fewer Gen Z agree this year (38 per cent versus 47 per cent in 2020). Across the board, Indian millennials and Gen Zers are more confident the pandemic bringing about change for the better, especially the importance people place on their health and the ability to deal with future pandemics," states the survey.
