New Delhi: While Generation Z considers 'creativity' to be the most important trait, millennials in India (36 percent) consider 'flexibility/adaptability' to be the most important trait for successful organisations as per a 2020 Deloitte Millennial Survey.
Given that Generation Z and Millennials are expected to account for half of the workforce, businesses must understand their expectations and adapt accordingly.
Millennials born between 1981 and 1996, are the first generations to have grown up with technology as we know it today, given the era in which they were born. It has influenced their behaviour and expectations from their workplace, among other things. Gen Z is the generation that comes after them.
Gen Z and Millennials
hese two generations are looking for new jobs. Both are challenging the norms at their workplaces, and employers must learn how to meet the needs of their employees in order to maintain business productivity.
It is interesting how they all want the same things at work.
Despite their generational differences, these two groups have nearly identical work ethics and expectations. Indian millennials and Gen Zs are more optimistic that the pandemic will result in positive change, particularly in terms of health and the ability to deal with future pandemics as per the survey.
Workplace wellness is now more important to millennials and Generation Z employees than previous generations. Overall stress and anxiety levels among Indian millennials (49 percent) are higher than the global average (41 percent), according to the Deloitte Millennial Survey 2021, while Indian Gen Zs are equally anxious/stressed as the global average (46 percent ). That is why they are transitioning to a more positive work environment that promotes a culture of well-being.
Employees in the Millennial and Generation Z generations place a high value on corporate ethics. Millennials and Generation Z want to be associated with a company that cares about the world and has a strong corporate brand. Approximately 72 percent of millennials and 66 percent of Generation Z are likely to work in a company with a strong work ethic. They want to be associated with a company that shares their ethical and moral values.
They also want an engaged workforce with a clear sense of direction in terms of the career advancement opportunities that will be available to them. In today's fast-paced world, millennials and Generation Z recognise the importance of learning and upskilling and place a high value on it.
Flexibility and Work-Life Balance
Flexibility is regarded as the most important employee quality for a successful business. Work flexibility includes achieving a better work-life balance. Indian millennials (36 percent) believe that flexibility/adaptability contributes to employee quality and productivity, which are critical for successful organisations.
Millennials and Generation Z place a high value on their health. They value work-life balance and require space as well as a conducive environment and approach to thrive in the workplace. Instead of adhering to whatever is told to them without reasoning and facts, a domineering approach will only make them more repulsive.
A diverse and inclusive workplace
Millennials and Generation Z have grown up in a far more diverse world than previous generations. They place the greatest emphasis on diversity and inclusivity. They are constantly looking for organisations where they can feel supported and equally involved, regardless of who they are or what position they hold.
The environment remains a top priority for Generation Z and millennials. Approximately three-quarters of this workforce believes the world has reached a tipping point in its response to climate change, but less than half believes efforts to protect the planet will be successful. A whopping 90 percent of Millennials and 87 percent of Gen Z are optimistic about the environmental changes caused by the pandemic.
Learning & Development Opportunities
Learning and development opportunities are viewed as the most important job perks by these professionals. They are eager to continue learning and growing in order to advance in their careers. This generation of entrepreneurs values opportunities for professional or career growth and development.
As previously stated, employees today place entirely different values on things than they did in the past. These generations have seen it all and have adopted an entrepreneurial and learning culture. As they prepare for the post-pandemic world, organisations have the opportunity to realign themselves with the expectations of the current generation, which is adaptable and robust.