Indian Millennials, Gen Zs Show Resilience And Optimism During Covid-19

The 9th Deloitte Global Millennial Survey shows Indian millennials and Gen Z to be resilient in the face of adversity, determined to drive positive change in their communities and around the world.

While the Covid-19 crisis has been unprecedented, 85 per cent millennials and 74 per cent Gen Z agreed that policymakers had taken the appropriate actions to support workers during the pandemic.

Even more resounding was the confidence in the speed of response to the crisis. Millennials included in the study were born between January 1983 and December 1994 while the Generation Z respondents were born between January 1995 and December 2003.

This year's survey consisted of two parts: a primary survey of 18,426 millennials and Gen Zs across 43 countries conducted between November 2019 and early January 2020, and a pulse survey of 9,100 individuals over 13 countries taken between April and May 2020 in the midst of the worldwide pandemic.

Indian respondents were a part of both surveys. Many questions from the first study were repeated to gauge the effect of the pandemic on opinions. In both the primary and pulse surveys, millennials and Gen Zs in India were much more positive about the impact of business in society than the global average.

"The Covid-19 pandemic has radically shifted our way of life -- how we work, socialise, shop and more -- and young generations were especially impacted," said Michele Parmelee, Deloitte Global Chief People and Purpose Officer.

"However, despite uncertain and discouraging conditions, millennials and Gen Zs express impressive resiliency and a resolve to improve the world. As we rebuild our economies and society, young people will be critical in shaping the world that emerges."

One of the stand-out findings was that the survey recorded a drop of more than 20 percentage points vis-a-vis the previous one, of millennials and Gen Zs who wanted to leave the organisation within two years. There was also a rise in those who wanted to stay beyond five years.

Actions taken by employers to support employees, especially the focus on people before profits during the pandemic, contributed to these high scores.

"For businesses, the increased confidence that millennials and Gen Zs have shown towards them should serve as a catalyst for further measures to help people grow and thrive. It is clear that purpose-driven organisations will have an upper hand in the post-Covid world," said S V Nathan, Chief Talent Officer at Deloitte India.

In the primary survey, 54 per cent of Gen Zs and 57 per cent of millennials in India said they were stressed all or most of the time. Respondents cited family welfare, long-term finances and job prospects as primary sources of stress.

In both the primary and pulse surveys, millennials and Gen Zs in India were much more positive about the impact of business in society than the global average.

(ANI)