On the heels of a year that was anything but smooth sailing, Millennials appear to be apprehensive about their future. Shaken by terror attacks in Europe, Brexit, and a contentious presidential election, many Millennials are looking to their workplace to provide a sense of stability.
Deloitte’s sixth annual Millennial survey found that young professionals are less likely to leave the security of their jobs, more concerned about uncertainty arising from conflict, and not optimistic about the directions their countries are going.
"This pessimism is a reflection of how millennials' personal concerns have shifted," said Mr Punit Renjen, Deloitte Global chief executive.
"Four years ago, climate change and resource scarcity were among millennials' top concerns. This year, crime, corruption, war, and political tensions are weighing on the minds of young professionals, which impacts both their personal and professional outlooks."
Looking for stability
As a result of their shaky confidence and heightened anxiety, Millennials are looking for stability and want to remain in their jobs.
Last year, the “loyalty gap” between those who saw themselves leaving their companies within two years and those who anticipated staying beyond five years was 17 percentage points. This year, the balance of Millennials looking to “leave soon” is only seven points, according to the survey.
Respondents said they intended to stay longer with employers that engage with social issues, such as education, unemployment, and healthcare. Those most optimistic about their countries' progress are more likely to report their employers getting involved with wider social and economic issues, the survey noted.
Addressing Millennial pessimism
Millennials who have a chance to contribute to charities and worthwhile causes in their workplaces are “less pessimistic about their countries’ general social/political situations and have a more positive opinion of business behavior,” explained Jim Moffat, Deloitte Global Consulting CEO.
Young professionals feel most able to make an impact via their workplace. Consequently, business and large organizations can address Millennials’ pessimism by doing more for society, says Renjen.
“We're in the best position to address many of society's most challenging problems and lead the way in creating an economy that works for everyone."