Gen Zs, millennials globally optimistic about economy, social situation: Survey

New Delhi: More than half of Gen Zs and two-thirds of millennials globally are optimistic about the economic and social situation of the country and expect it to improve further, a Deloitte survey said on Wednesday.

Both generations are optimistic about GenAI and its potential benefits in improving the way they work with 4 in 10 undergoing training, the Deloitte's 2024 Gen Z and millennial survey said.

The survey also found that nine in 10 Gen Zs and millennials say the purpose is important for job satisfaction and are likely to reject work or employers that do not align with their ethics and beliefs.

The survey gathers insights from more than 22,800 Gen Z and millennial respondents across 44 countries and explores how Gen Zs and millennials perceive the transformations occurring in the world around them.

Fieldwork for the survey was completed between November 24, 2023 and February 13, 2024. Gen Z respondents were born between January 1995 and December 2005 and the millennial respondents between January 1983 and December 1994.

According to the survey, millennials are feeling more optimistic about the overall economic, financial, and social outlook compared with their global counterparts and this sentiment is boosted by India's sustained economic growth amid a global slowdown.

Two-thirds of millennials (65 per cent) and more than half of the Gen Zs (58 per cent) expect the country's economic outlook to improve in the next one year. It is a significantly better situation compared with the previous year, as more Gen Zs (62 per cent) and millennials (64 per cent) are now confident of their financial situation.

As per the survey, both the generations believe GenAI will have a positive impact on their work-life balance and how they work. More than half of the Gen Zs (51 per cent) and millennials (54 per cent) frequently use GenAI at work and strongly feel that it will free up their time for creative and strategic work.

However, they are equally convinced that they will need to reskill and GenAI will influence their career decisions and cause some job loss. The survey also highlights how women are more upbeat about GenAI and slightly more comfortable working with it than men.

"Millennials and Gen Zs are the agents of change and contribute significantly to shaping the future of work. More than half of the respondents are excited about GenAI and believe that this new technology will positively impact their work-life balance, allowing more time for creative and strategic work", Deloitte India Chief People and Experience Officer Deepti Sagar said.