LEADERSHIP
For Millennials And Gen Zs,
Social Issues Are Top Of Mind
—Here’s How Organizations
Can Drive Meaningful Change
Deloitte. Deloitte BRANDVOICE | Paid Program
Jul 22, 2021, 11:38am EDT
Millennials and Generation Zs have long pushed for social change,
but the 10th annual Deloitte Global Millennial and Gen Z Survey
reveals that they believe the world has reached a tipping point on
issues such as racial justice, inequality and the environment.Millennials and Gen Zs are taking action to drive the change they
want to see in the world. They are becoming more politically
involved, making a conscious effort to ensure they spend their
money with companies that reflect their values and pushing for
change on societal issues. They believe in their individual power to
make a difference, but they are also demanding that businesses and
governments do their part to help build a better future.
“The recent embrace of stakeholder capitalism is, at least in part, an
illustration of the influence millennials and Gen Zs have already
had. Businesses are increasingly being held accountable for their
impact on society,” says Michele Parmelee, Deloitte Global Deputy
CEO and Chief People & Purpose Officer. “However, less than half
of these younger generations currently say that business is having a
positive impact on society, which is a stark reminder that
companies have much more work to do.”
Fighting For Racial Justice
Six in 10 Gen Zs and 56% of millennials say that systemic racism is
fairly or very widespread throughout society. But, a year after the
murder of George Floyd fueled the rise of the Black Lives Matter
movement, Deloitte's survey shows that more than half of
millennials and Gen Zs believe that society may be on the precipice
of real change when it comes to systemic racism.
Somewhere between 15 million and 26 million people in the United
States participated in demonstrations in the weeks following,
Floyd’s death, inspiring hundreds of thousands of people around
the globe to take to the streets in solidarity.
“The size and geographic spread of the protests, the use of social
media to share information widely and public support from
organizations who might typically have stayed on the sidelines havekept the issue of systemic racism in the spotlight,” says Parmelee.
“While much more will be needed to eradicate racism, many feel
encouraged that real change is possible if people and organizations
continue to take action.”
For many millennials and Gen Zs, the issue of racial justice is
deeply personal. At least 1 in 5 of those surveyed by Deloitte say
they feel personally discriminated against all of the time or
frequently because of an aspect of their backgrounds, such as race
or gender identification.
One-quarter of respondents also say they’ve experienced
discrimination by their governments, and nearly the
same percentage (22%) feel they've been discriminated against in
the workplace.
Although half of millennials and Gen Zs say individuals hold the
greatest potential to help break down systemic racism, 3 in 5
believe that positive change will need to come from the top down—
driven by changes in attitude and actions from those in power, such
as business and government leaders.
Prioritizing The Environment
“One of the few positive outcomes of the global pandemic has been
the realization of how quickly individuals, organizations and
institutions can change when necessary,” says Parmele. “The
temporary reduction in carbon emissions during the pandemic
lockdowns, for instance, showed people how quickly these changes
could lead to less pollution and cleaner water, stoking some
environmental optimism.”
When it comes to the environment, about 40% of millennials and
Gen Zs believe that more people will personally commit to take
actions to address climate issues after the pandemic. These actionscould include anything from recycling more and increasing their
use of public transportation to changing eating habits and making
fewer “fast-fashion” clothing purchases.
While millennials and Gen Zs feel more positive about individuals’
commitment to protect the environment, they are concerned that
business leaders will deprioritize the fight against climate change as
they reckon with the aftermath of the pandemic.
This concern may be justified. Another recent Deloitte survey found
that 65% of business leaders said their organizations needed to cut
back on environmental sustainability initiatives in some way due to
the pandemic. However, the same survey also found that, similar to
many millennials and Gen Zs, business leaders are concerned about
the environment and believe action is needed to mitigate the effects
of climate change. None said that they were planning to stop their
sustainability efforts completely, indicating that environmental
sustainability will remain on the agenda despite setbacks from the
pandemic,
How Millennials And Gen Zs Are Pushing Businesses
To Drive Change
Many millennials and Gen Zs make decisions about their careers
and about where they shop based on their values. Forty-four
percent of millennials and 49% of Gen Zs surveyed said that, over
the past two years, they have made choices about the types of work
they would do—and the organizations they'd be willing to work for
—based on their personal values. And as consumers, they often stop
or initiate relationships based on how companies treat the
environment, protect personal data and position themselves on
social and political issues. This year, almost a third of respondents
started or deepened consumer relationships with companies basedon their response to the COVID-19 crisis, while around a quarter
stopped or lessened relationships for the same reason.
“Organizations that are not aligned with millennial and Gen-Z
values risk losing favor with this large and increasingly influential
cohort,” Parmelee says. “Business leaders can and should help drive
meaningful change on the issues that matter most to these groups,
like racial justice, inequality and climate change.” That could mean
ensuring the environment remains a priority, even in challenging
times. Or reevaluating the way their organizations look at hiring
and retention to promote diversity and inclusion.
“Driving societal change is not just the right thing for leaders to do,
but it’s also good for business,” Parmelee says. “Those who are
purpose-led and share and support these younger generations’
vision for a brighter future will come out on top.”
Det Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK
private company limited by guarantee (“DTTL"), its network of member.
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