Generation Z and millennials have stricter requirements for their employers

By Michelle Fox -

Gen Z and millennials, like millions of Americans, are looking for a new way to work.

Stressed and exhausted, many have quit their jobs.

Others still plan to do so, according to the

About 40% of Gen Z and 24% of Millennials want to leave their jobs in two years.

About a third would leave without having another job, according to the survey.

More than 14,000 members of Generation Z and more than 7,400 millennials from 46 countries were surveyed between November and January.

Faced with the phenomenon of mass resignations, the priorities of employees have changed.Getty Images

Salary was the number one reason young people left their jobs in the past two years, followed by feeling the workplace was detrimental to their mental health and burnout.

When choosing a new employer, work-life balance and opportunities for learning and development are top priorities.

Roughly three quarters would prefer a hybrid or remote work situation.

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They are also willing to turn down job offers that do not fit their values.

Furthermore, those who are satisfied with the environmental and social impact of their employers, as well as their efforts to create an inclusive culture, are more likely to stay with their company for five years or more.

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“Expectations for companies to drive social change [and] environmental change have never been higher,” said Michele Parmelee, Deloitte Global deputy general manager and chief people and purpose officer.

Older generations may not have expected organizations to take a stand on social issues, but younger ones do, he added.

"They're better able to ask for things," Parmelee said.

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Climate change is a top concern for Gen Z and millennials, with nearly three-quarters agreeing the world is at a tipping point in responding to climate change.

According to the survey, only 15% of Gen Z and 14% of Millennials believe that large companies are taking substantial steps to combat the problem.

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A year after the mass resignations, employers are responding to what they hear from workers and job seekers.

Millions of Americans have quit their jobs, with a record 4.5 million quits in March alone.

Companies are trying to add flexibility in terms of hours worked and location.

43% of companies offer hybrid models, according to PWC's Pulse Survey of senior executives.

Benefits focused on financial and mental wellness are becoming more popular, and other perks like four-day workweeks, sabbaticals, and work-from-anywhere are appearing.

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To stay competitive, especially when it comes to attracting and retaining younger generations, employers need to apply those hybrid work strategies, Parmelee said.

They should also prioritize climate action and train their employees to help fight climate change, as well as support better mental health in the workplace, the Deloitte survey suggests.

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This may involve being transparent about the decisions the company makes, being clear about mental health benefits and having a plan to combat burnout, Parmelee said.

For example, Deloitte has "off days," where the entire company takes the day off.

"It's also the creativity around certain benefits that really drives to the heart of current concerns," he added.

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