The 2018 Deloitte Millennial Survey The Nordics May 2018
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1 The 2018 Deloitte Millennial Survey May 2018
2 Background 402 Millennial interviews achieved in (all in full-time employment) Gender 50% men Have children 42% Yes 16% Job seniority/level 3% 7% 2% 18% Trainee/apprentice/graduate Junior-level executive Mid-level executive 58% No Senior executive Head of department/division 50% women 53% Senior management team/board 2nd Degree, masters or PhD 28% Education level Organization size 26% 1-99 Organization type 2% 18% 20% Listed/publicly owned business Privately owned business State-owned or public-sector organization 72% University/college degree 27% % 60% Not-for-profit organization/charity 2
3 economic, political and social outlook Percent who expect the overall economic situations in their countries to improve (next 12 months) Percent who expect the overall social/political situations in their countries to improve (next 12 months) Percent of millennials expecting to be better off/happier than their parents Financially better off Happier 23% 45% 41% 56% 51% 43% 29% Top-five issues of greatest personal concern to millennials in 36% Climate change / protecting the environment / natural disasters 35% Terrorism 29% Wars / conflicts between countries 25% Immigration / displaced populations 19% Healthcare / disease prevention Q1. Do you expect the overall economic situation in your country to improve, worsen or stay the same over the next 12 months? Q2. Do you expect the overall social/political situation in your country to improve, worsen or stay the same over the next 12 months? Q3A/B. How do you feel about the future? Compared to your parents do you think you will be financially/materially better off/happier? Q4. Thinking about the challenges facing societies around the world, which three of the following issues are you personally most concerned about? Base: 338, 10,455 3
4 behavior, priorities and impact of business Percent of millennials who agree with the following statements about business behavior They focus on their own agenda rather than considering the wider society 75% 79% Percent of millennials who say businesses (showing top five unmet ambitions) 47% What business SHOULD try to achieve My organization's priorities Percent of millennials who say the following groups are currently having a positive or negative impact upon society 41% 41% 39% Business leaders They have no ambition beyond wanting to make money They behave in an ethical manner 31% 47% 66% 63% 18% 28% 26% 14% 30% 48% 31% Leaders of NGOs and notfor-profits 56% 19% Religious/ faith leaders 15% 69% Their leaders are committed to helping improve society 46% Generate jobs / Improve/protect provide the environment employment Innovate: develop new products and services, generate new ideas etc. Enhance Improve society livelihoods (of e.g. educate, its employees) inform, promote health and wellbeing Political leaders 23% 58% Q12. Thinking about businesses around the world, would you agree or disagree that the following statements describe their current behaviour? Q11a. Which of the following words and phrases match your own belief as to what business should try to achieve? Select up to three. Q11b. And what would you say are the main priorities pursued by the organization you currently work for? Select up to three. Q6. Do you think the following groups are currently having a positive or negative impact on you and the world in which you live? 4 Base: the Nordics 338, 2018 / ,455 / 7,900
5 loyalty, turnover and the gig economy Percent who expect to stay with their current employers for... What is important when choosing an employer? Financial reward/benefits 59% 63% already joining or considering the gig economy Instead of full-time job To supplement a full- or parttime job Positive workplace culture 67% 52% 44% Flexibility (i.e., hours and location) 58% 50% 44% 66% Opportunities for continuous learning 48% 61% 48% Well-being programs and incentives Reputation for ethical behavior Diversity and inclusion 16% 19% 57% 78% Less than two years Beyond five years Opportunities to volunteer/make a difference in the community 8% 12% Q14. If you had a choice, how long would you stay with your current employer before leaving to join a new organisation or do something different? Q22. In general, how important are the following aspects when you are considering working at an organization? Please select each in order of their importance to you, from most important (1) to least important (8). Q24. The recent rise of the gig economy has seen large numbers of people leave full-time employment or supplement their income by taking on short-term contracts or freelance work. Would you consider joining the gig economy by taking on such roles Base: 338, 2018 / ,455 / 7,900 5
6 perceptions of business leaders where organizations and their senior management teams (SMT) are diverse % of millennials who work for diverse organizations, or have diverse senior management teams (SMT) % of millennials saying business leaders are making a positive impact on the world in which they live Diverse organization Diverse SMT 48% Nordics millennials in diverse organizations 53% 60% 64% 48% Nordics millennials in organizations with diverse SMTs 61% Q43. As regards the extent to which it reflects the wider society in which it operates, how would you describe the current level of diversity in... Your organisation s establishments in the Nordics / Your organisation s senior leadership team? Q6. Do you think the following groups are currently having a positive or negative impact on you and the world in which you live? Base: All Nordics 338, in Diverse Organisations 202, in Organisations with a Diverse SMT 113, 10,455 6
7 Diversity, flexibility and millennials loyalty in Nordics Percent of millennials who expect to stay with their employer for more than 5 years Expect to stay more than 5 years 68% 56% 37% Not working at a diverse organization Working at a diverse organization Working at an organization that does not have a diverse SMT Working at an organization with a diverse SMT Percent of millennials who say that in the past three years All Nordics millennials Expect to leave within 2 years Expect to stay more than 5 years 42% 36% 40% 31% 32% 38% 29% 23% 18% There is more flexibility - I have more options in terms of where and when I work There has been no change in flexibility in terms of where and when I work There is less flexibility - I have fewer options in terms of where and when I work Q43. As regards the extent to which it reflects the wider society in which it operates, how would you describe the current level of diversity in... Your organization s establishments in the Nordics / Your organization s senior leadership team? Q16. Thinking of the past three years, which of the following statements best reflects your experience of working at your current organization? 7 Base: All Nordics 338, Expecting to stay more than 5 years 75, who have worked in the same organization for over two years: All 205, Expect to leave within 2 years 85, Expect to stay more than 5 years 57
8 Industry 4.0: Impact and development Percent of millennials who agree with the following statements about the impact of Industry 4.0 Percent of Nordics millennials saying these groups are most responsible for preparing workers for Industry 4.0 Industry 4.0 will augment my job, supporting me by allowing me to focus on more creative, human and valueadding work 44% 52% 3 % 4 % 16% 44% Industry 4.0 won't have any impact on my job 29% 23% 8 % 14 % 9 % Industry 4.0 will replace part or all of my job's responsibilities Don't know/not sure 10% 17% 17% 8% Employers/business in general Schools 29% of millennials in say their employers are helping to prepare them for Industry 4.0 compared with 36% globally College/universities Government Individuals (via selfeducation/ongoing professional development) Not-for-profit organizations Don t know Q32. What impact, if any, do you think Industry 4.0 might have on your job? Q34b. Who should be most responsible for preparing workers for the changes that will result from Industry 4.0? Q35. Is your organization helping you understand and prepare for the changes of Industry 4.0? Base: Nordics 338, ly 10,455 8
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