Millennials feel that most businesses have no ambition beyond profit, and there are distinct differences in what they believe the purpose of business should be and what they perceive it to currently be, new report finds.
During yesterdays ChangeMakers-conference hosted by InnoMag and Inspirator in partnership with Deloitte, senior manager at the Deloitte´s Center for the Edge Europe, Maartin Oonk, talked about the importance for businesses to create awareness and urgency around disruption and more importantly, to create an impact that matters.
According to the “The Deloitte Millennial Survey 2016”, young people find sustainable impact as part of business strategy of high importance when it comes to deciding whether they see themselves working for the company in the future.
Some of the key finding in the survey were that millennials, in general, express little loyalty to their current employers and many are planning near-term exits. This “loyalty challenge” is however, driven by a variety of factors.
Millennials feel underutilized and believe they’re not being developed as leaders. They continue to express positive views of businesses’ role in society; they have softened their negative perceptions of corporate motivation and ethics, and cite a strong alignment of values.
However, all though, almost nine in ten (87 percent) believe that “the success of a business should be measured in terms of more than just its financial performance.”, millennials feel that most businesses have no ambition beyond profit, and there are distinct differences in what they believe the purpose of business should be and what they perceive it to currently be. Millennials often put their personal values ahead of organizational goals, and several have shunned assignments (and potential employers) that conflict with their beliefs.
Lack of loyalty is a serious challenge
Millennials represent an increasing share of the workforce and a growing number now occupy senior positions. However during the next year, if given the choice, one in four Millennials would quit his or her current employer to join a new organization or to do something different. That figure increases to 44 percent when the time frame is expanded to two years.
By the end of 2020, two of every three respondents hope to have moved on, while only 16 percent of Millennials see themselves with their current employers a decade from now. In the end, this remarkable absence of loyalty might represents a serious challenge to any business employing a large number of Millennials.
About the survey
Deloitte surveyed nearly 7,700 Millennials from 29 countries during September and October 2015 to learn more about Millennials’ values and ambitions, drivers of job satisfaction, and their increasing representation in senior management teams.
