Published on February 4, 2014
Big demands and high expectations The Deloitte Millennial Survey January 2014 Summary of global findings
Contents Research approach and scope Sample profile: ‘The educated elite’ Headline findings 1 Millennials’ world view: Economic confidence 2 Millennials’ world view: Society’s challenges 3 Purpose, impact and image of business 4 Purpose and impact of government/public policy 5 Society’s challenges: Who will meet them? 6 Innovation: Sources 7 Innovation: Facilitators & barriers 8 Millennials’ ‘personality’ 2 The Deloitte Millennial Survey
Research approach WHERE? 26 markets across: Western Europe, North America, Latin America, BRICS and Asia Pacific WHO? Millennials: born January 1983 onwards Degree educated In full-time employment WHAT? 15 minute quantitative questionnaire conducted online WHEN? 10 October to 11 November 2013 3 The Deloitte Millennial Survey Over 7,800 respondents Approximately 300 interviews per market
Research scope TOTAL 7,867 Emerging Markets | Interviews achieved China | 323 South Korea | 300 Malaysia, Thailand and Singapore (MTS) | 320 Indonesia | 300 India | 305 4 Russia | 314 Turkey | 328 South Africa | 307 The Philippines | 301 Mexico | 301 Brazil | 313 The Deloitte Millennial Survey Developed Markets | Interviews achieved Argentina | 308 Chile | 309 Colombia | 300 Peru | 313 USA | 300 Canada | 300 Germany | 302 UK | 300 France | 308 Spain | 308 Italy | 300 Netherlands | 301 Switzerland | 200 Japan | 302 Australia | 304
Sample profile: ‘The educated elite’ 85% 15% UNIVERSITY/ COLLEGE DEGREE 2ND DEGREE, MASTERS OR PHD EDUCATION LEVEL ORGANIZATION TYPE ORGANIZATION SIZE (EMPLOYEES) 26% 32% 3% 3% 1–99 20% 16% 100–249 25% 5 The Deloitte Millennial Survey Privately owned business State owned or public sector organization Not for proﬁt organization / Charity 250–999 17% Listed / Publicly owned business 1000+ 58% Other
Headline findings Role & impact of business Business has an overall positive impact on wider society and brings prosperity. Millennials in emerging markets feel very positive about all aspects of business, its behaviour and outcomes. Those in developed markets are far more skeptical (they agree it brings prosperity but question its commitment to ‘the greater good’). Role of business is to ‘provide jobs and generate profits’, and then to ‘drive innovation, efficiency and enable progress.’ It’s role is not necessarily to ‘protect the environment/improve society,’ but… Businesses, and to a greater extent governments, are felt to have great potential to improve society’s most pressing challenges. These challenges are unemployment (especially in mature markets) and environmental damage and its consequences (more so in emerging markets) Overall the potential of business and governments to meet society’s challenges is going largely unfilled. They could do much more. 6 The Deloitte Millennial Survey
Headline findings Innovation & Millennials’ futures Innovation is seen to derive from process/planning rather than ‘spontaneous moments of genius.’ Business, rather than governments, academia etc. is ‘expected’ to deliver future innovations. Innovation is a significant factor when considering a prospective employer (especially in emerging markets). Greatest single barrier to innovation is thought to be financial, though in aggregate it is being ‘choked’ by factors businesses have the resources to overcome: Management vision/outlook; Operational factors; Employee incentivization, motivation, diversity. Most Millennials say they are not rewarded for thinking of innovative ideas or encouraged to challenge the status quo. One in four Millennials want to be given more of a chance to lead and be ‘trusted’ to take on leadership tasks. Nearly three-quarters see themselves working independently. They could therefore be ‘lost’ to traditional organizations (most especially in emerging markets). 7 The Deloitte Millennial Survey
Millennials’ world view: Economic confidence 8 The Deloitte Millennial Survey
Economic confidence: ‘Fragile’ in mature markets Net improve: Next 12 months GLOBAL DEVELOPED / MATURE MARKETS EMERGING MARKETS 14% 2% 22% CHINA SE ASIA LATIN AMERICA 49% 37% 19% Q. Taking everything into account do you expect the overall economic situation in (NAME OF COUNTRY) to improve, worsen or stay the same over the next 12 months? Base: 7,867 9 The Deloitte Millennial Survey
Economic confidence: Global perspective Net improve: Next 12 months -6% 12% 21% 9% 20% -30% -3% Negative score -15% -18% 15% -14% 34% 14% 11-30 14% The Deloitte Millennial Survey 56% 46% 33% -24% -18% Q. Taking everything into account do you expect the overall economic situation in (NAME OF COUNTRY) to improve, worsen or stay the same over the next 12 months? Base: 7,867 10 -7% 66% 51% Global average 49% 41% 0-10 31+ 4% 13% 12%
It’s clear that Millennials see economic strategies as the greatest drivers of prosperity 21% 22% AGGREGATED RESPONSES 20% 16% 16% 17% 54% 41% 16% 14% 13% 14% 12% 11% 8% 9% 6% 6% 6% Global Skills and levels of education Developed markets Tax policies Emerging markets Competitiveness of its businesses Innovation Social policies/programs including training for the unemployed, daycare etc. Business regulation Q. Which one of the following factors do you think has the greatest impact on (INSERT NAME OF COUNTRY) level of economic growth? Base: 7,560 (excludes China). 11 The Deloitte Millennial Survey Human capital / Social policies 11% 11% 11% 9% General economic policy Economic / Business 5% 6% 4% Immigration policies
Millennials’ world view: Society’s challenges 12 The Deloitte Millennial Survey
Unemployment single most important challenge, but environmental issues ‘dominate’ Millennials’ thinking TOP CHALLENGES FACING SOCIETY IN THE NEXT 5–10 YEARS 37% 33% Economic 32% Environmental Political instability / Conﬂict / Terrorism 28% 23% 22% 21% 21% 21% 20% 20% 19% 18% 18% 17% Crime / Health / Education Social 16% Privacy / Cyber security 15% 13% 6% Un em pl oy Re m so en ur t Pr ce ot sc Cl In ect im ar eq i cit ua ng e ate y lit y - nvir cha in onm nge co e / m es nt Cr /W im ea e /P lth er so na St Ag ls Po ab af lit ein ilit et ica yn g y l in po at sta pu io na lat bi lit le io y co ns no /D m em ies og W ra ar ph s/ ic Co sh nﬂ ift ict sb He In et ﬂa alt w tio hc ee n ar n e co /D un ise tri Ed es as uc e at pr io ev Fo n, en od sk tio ills su n pp an Co lie d tra s/ ns eq in Hu in ue ng g nc er es /F of am na in tu e ra ld isa ste Cy rs be rs ec ur ity So cia lu nr es t Te Pr rro iva ris cy m of in Co di vid m m ua Ri un ls gh ity ts co of he m sio in or n ity gr ou ps 6% Q. Over the next 5–10 years, what do you think will be the top challenges facing societies around the world (including our own)? [Select up to FIVE ] Base: All 7,867 respondents 13 The Deloitte Millennial Survey
Unemployment major issue in ‘mature’ markets; environment significant concern elsewhere Challenge with highest number of mentions in that market 36% 36% 35% 38% 37% 52% 45% 55% 55% 38% 53% 47% 43% 54% 40% 33% 39% Resource scarcity Climate change 44% 44% 43% 37% 37% Unemployment Inequality 48% 59% 43% Inﬂation Ageing population Q. Over the next 5–10 years, what do you think will be the top challenges facing societies around the world (including our own)? [Select up to FIVE ] Base: All 7,867 respondents 14 The Deloitte Millennial Survey 38%
‘Fascinating’ insights at country level TOP CHALLENGES FACING SOCIETY IN THE NEXT 5–10 YEARS HIGHEST MENTION South Africa Chile The Philippines China CLIMATE CHANGE INCOME INEQUALITY USA Germany / Peru South Africa Italy MTS China Argentina / Russia Turkey Chile / Peru / Colombia 59% 48% 44% 54% 45% 36% 30% 52% 36% 42% 28% UNEMPLOYMENT RESOURCE SCARCITY Chile Japan CRIME China POLITICAL INSTABILITY China STABILITY AGEING INFLATION NATIONAL POPULATIONS ECONOMIES Russia Colombia / Peru / South Africa Japan WARS HEALTHCARE China Japan Turkey 20% 20% 17% 14% 8% 12% 10% 4% 8% 9% LOWEST MENTION Q. Over the next 5–10 years, for which of societies’ challenges do you think we will see the greates? [Select up to FIVE ] Base: All 7,867 respondents 15 The Deloitte Millennial Survey 8%
In totality aspects of environment and ‘conflict’ dominate concerns; economic issues as a whole relatively less salient TOP CHALLENGES FACING SOCIETY IN THE NEXT 5-10 YEARS (COMBINED CODES) 70% 65% 59% 55% 56% 54% 50% 53% 52% 47% 48% 43% 42% 41% 43% 27% Environment / Hunger Global Political / Social unrest / War / Terrorism Developed markets Social issues e.g., ageing, cohesion Domestic issues e.g., crime, education, healthcare Economic issues e.g., inﬂation 29% 26% Cyber security / Individual privacy Emerging markets Q. Over the next 5–10 years, what do you think will be the top challenges facing societies around the world (including our own)? [Select up to FIVE ] Base: All 7,867 respondents 16 The Deloitte Millennial Survey
‘Environment’ clearly #1 challenge in emerging markets; economy just as important in developed markets % RATING CHALLENGES AS #1 (BIGGEST) 33% 30% 24% 21% 24% 19% 16% 18% 15% 14% 16% 13% 13% 11% 14% 5% Environment / Hunger Economic issues Political / Social Social issues e.g., Domestic issues e.g., e.g., inﬂation unrest / War / Terrorism ageing, cohesion crime, education, healthcare 7% 4% Cyber security / Individual privacy % RATING CHALLENGE AS #1 OR #2 44% 47% 39% 36% 39% 33% 30% 32% 28% 26% 29% 24% 25% 27% 21% 10% 12% 9% Environment / Hunger Global Economic issues Political / Social Social issues e.g., Domestic issues e.g., e.g., inﬂation unrest / War / Terrorism ageing, cohesion crime, education, healthcare Developed markets Cyber security / Individual privacy Emerging markets Q. Over the next 5–10 years, what do you think will be the top challenges facing societies around the world (including our own)? [Select up to FIVE ] Base: All 7,867 respondents Q. Which of the following do you regard as the biggest challenge that will face societies around the world (including our own) over the next 5–10 years? Which is the second biggest? Base: 7,791 17 The Deloitte Millennial Survey
Purpose, impact and image of business 18 The Deloitte Millennial Survey
Job/profit generation main purpose, with societal impact and innovation also ‘important’ AGGREGATED RESPONSES 79% 69% 42% 45% 41% 39% 34% 36% 33% 29% 30% 28% 27% 29% 26% 26% 25% 27% 25% 27% 23% Global Developed markets Improve society Drive innovation Enhance livelihoods (of its employees) Enable progress Produce and exchange goods and services The Deloitte Millennial Survey Society / Environment 18% 19% 16% 16% 17% 15% Create wealth Improve/protect Drive efﬁciency the environment Emerging markets Q. Which of the following words and phrases match your own belief as to what business should try to achieve? CHOOSE UP TO THREE Base: 7,867 19 Efﬁciency / Innovation / Progress 24% 25% 23% 19% 19% 19% Generate jobs Generate proﬁt Wealth / Proﬁt / Jobs
Looking at the ‘most important’ purpose of business yields similar insights MOST IMPORTANT THING BUSINESS SHOULD TRY TO ACHIEVE 18% 19% 17% 17% AGGREGATED RESPONSES 50% 31% 18% 19% 15% 13% 13% 12% 9% 10% 9% Generate proﬁt Generate jobs Improve society Produce and exchange goods and services 9% 9% 9% 9% 9% 9% Drive Enhance innovation livelihoods (of its employees) 8% 9% 6% Enable progress 7% 6% 7% Create wealth 6% 4% 6% AGGREGATED RESPONSES 35% 29% 18% 17% 19% Generate proﬁt Generate jobs Improve society Produce and exchange goods and services Global 70% 53% 30% 27% 28% 26% 21% 22% 20% Developed markets 18% 18% 17% 17% 18% 16% Drive Enhance innovation livelihoods (of its employees) 16% 18% 14% Enable progress 5% 4% 5% Improve/ Drive efﬁciency protect the environment 1ST AND 2ND MOST IMPORTANT THING BUSINESS SHOULD TRY TO ACHIEVE 31% 13% 12% 13% Create wealth Wealth / Proﬁt / Jobs Efﬁciency / Innovation / Progress Society / Environment 11% 10% 12% Wealth / Proﬁt / Jobs Efﬁciency / Innovation / Progress Society / Environment 10% 11% 9% Improve/ Drive efﬁciency protect the environment Emerging markets Q. In what order would you put these three outcomes? Which is the most important thing you believe business should try to achieve, what is the second most important and which is the third? Base: 7,867 20 The Deloitte Millennial Survey
71% OF MILLENNIALS BELIEVE THAT BUSINESSES ARE HELPING TO INCREASE PROSPERITY. 21 The Deloitte Millennial Survey 74% OF MILLENNIALS BELIEVE BUSINESSES ARE HAVING A POSITIVE IMPACT IN THE COMMUNITIES IN WHICH THEY OPERATE.
Majority in all regions has a positive image of business POSITIVE IMPACT 88% 88% 85% India SE Asia* China 4% 5% 2% 81% Emerging markets 8% NEGATIVE IMPACT 77% 75% Latin America Russia 11% 8% 74% Global 68% 65% 63% 62% Japan North America Developed markets Western Europe* 18% 16% 17% 3% 11% *SE Asia: Indonesia Malaysia, Philippines, Singapore, Thailand, South Korea * Western Europe excludes Russia Q. Thinking about businesses in general around the world, what impact do you think they are having on the wider society in which they operate? Base: 7,867 22 The Deloitte Millennial Survey
Economic/financial benefit greatest ‘driver’ of positive sentiment “Companies bring work, work brings money, money is the prerequisite for a good livelihood. They also encourage consumption. So companies are important for the market economy and the functioning of a country / society.” Germany 47% 45% 42% “Nowadays we have lots of SMEs emerging, they create lots of jobs. As jobs are created standard of living is improved. The economy is growing.” India 21% 18% 15% 16% 15% 16% 7% Economic/ﬁnancial beneﬁts Global Positive social contribution Developed markets Produce goods and services we need 8% 7% General positive comment 5% 6% 3% Help environment Emerging markets Q. Why do you feel businesses are having a ‘positive’ impact on wider society? What specific actions or behaviors do you associate with them that make you feel this way? OPEN QUESTION Base: All respondents with positive view of business (blanks/ dks/ not sure etc., removed) 7,104 23 The Deloitte Millennial Survey
Emerging markets extremely positive about business’s motivation/behavior; mature markets much less so % agree 75% 74% 71% 64% 64% 63% 56% 48% They are helping to increase overall levels of prosperity Global 45% 60% 56% 54% They show a strong Their leaders are commitment to being committed to helping to sustainable improve society Developed markets 62% 52% 49% 43% 42% They behave in an ethical manner They work hard to minimize the environmental impact of their operations Emerging markets Q. Thinking about businesses around the world, would you agree or disagree that, on balance, the following statements describe their current behavior? Base: 7,867 24 The Deloitte Millennial Survey 40% They operate in an open and transparent manner
Purpose and impact of government/ public policy 25 The Deloitte Millennial Survey
Consensus across globe on purpose of government: Lower ‘expectations’ than business for job creation and innovation BUSINESS VS. GOVERNMENT n/a 41% (+9) n/a n/a n/a n/a n/a 18% ( -) n/a 27% (+16) n/a n/a 36% 34% 33% 33% 33% 31% 32% 32% 32% 31% 31% 31% 31% 28% 27% 28% 26% 24% 21% 19% 18% 19% 18% 19% 18% 17% 18% 15% 13% 12% 11% 12% 11% 10% 8% 6% Provide education Global Ensure citizens Generate jobs have access to hospitals, etc. Developed markets Improve the Ensure there is Protect their suitable ﬁnancial citizens from wellbeing of its infrastructure crime citizens Defend and protect their citizens Promote equality Protect the Engage and Drive innovation Control/ environment cooperate with manage other countries immigration to help solve global issues Emerging markets Q. Now please consider the purpose of governments. Which of the following words and phrases match your own belief as to what governments should try to achieve? Base: 7,560 NOT ASKED IN CHINA 26 The Deloitte Millennial Survey
On balance fewer than one in ten in mature markets believe that government is positively impacting ‘commerce’ NET IMPROVE SCORE 18% YOUR COMPANY'S ABILITY TO MAXIMIZE ITS REVENUE 8% 26% 17% OUR COUNTRY'S ABILITY TO ATTRACT FOREIGN BUSINESSES TO SET UP HERE FEWER THAN 1/10 3% 27% 16% OUR OVERALL COMPETITIVENESS 8% IN MATURE MARKETS BELIEVE THAT GOVERNMENT IS POSITIVELY IMPACTING ‘COMMERCE’ 23% 11% ATTRACTING PEOPLE WITH THE SKILLS WE NEED TO OUR COUNTRY 4% 16% Global Developed markets 7% Emerging markets OVERALL LEVELS OF PROSPERITY 13% 0 10 20 30 40% Q. Do you believe that when taken as a whole the activities and public policies of our country’s government are having a positive, negative or no impact on the following? Base: 7,560 NOT ASKED IN CHINA 27 The Deloitte Millennial Survey
Immigration, tax, business regulation and pensions & retirement policies ‘hindering’ growth in mature economies NET IMPROVE SCORE 37% IT & TELECOMS 32% 27% EDUCATION, SKILLS & INFRASTRUCTURE TRAINING 14% 11% 8% HEALTH Developed markets EMPLOYEE RIGHTS LAW & ORDER 2% 1% 0% ENVIRONMENT GENERAL ECONOMIC POLICY DEFENCE & FOREIGN AFFAIRS BUSINESS REGULATION IMMIGRATION -8% -13% Q. Taken as a whole, what impact do you think the activities and public policies of our government will have on (COUNTRY’S) future levels of economic growth? Do you think they will drive growth forward, hold growth back, or have no impact either way? Base: 3,225 (excludes Emerging markets) 28 The Deloitte Millennial Survey PENSIONS & RETIREMENT -16% BUSINESS TAXATION -22%
Society’s challenges: Who will meet them? 29 The Deloitte Millennial Survey
Un Unem emp Pr Prot plloy ec Cl ot m Ed ecti Clim oyme n Educ ting imat en t ucat ng en ate t atio env e ch ion, viro chan n, sk iron ang St e skills nme ge / Stab ills a men / abili t and nt ilitty nd t FFo y na nati ood train ra od s tion inin ona sup ing upp all e g pllie co ec iess ono // H nom Hun mie ung ies s ger er / / Fa Fam min Cy ine Cyb e ber er se He PP sec He rirv cur Re aallt iva acc ity thc so hc yyo ur arr ae off ce e/ in ind sc div Di ivid arc se idu as ua ity allss e pr // U ev se en IIn of ne tio eq pe qu n ua rso alli it y na -i CCo ld om nc m at om m a mu unn es itityy /W cco h o ea he s e lltth siio h on Co n/ Co n IInﬂ / So n S nsse ﬂat oc i atio ca eq u q ion iall i ue n e n n invo nc e c volv ess o lvem off n em en na t a ent R u tura Riigh t gh t ral d so l dis ts isas off m aste m in ters inor rs ority ity g grou ro p ups So Soci s a cial u Po l unr Po lit nres ica est l W Cr itical i t W ar ns Cr im l in t ar s / im e stab s/ C /P Ag o Co nﬂ e / P er abiillity Ag ei e son ity nﬂ ict einng ict s b rsonal g po s b et al saf po pu s e et we pu lat w en afety lat ion ee c t io s / n ou y ns D co n / D em untrie tri s em og es ograp ra hic ph s ic hif s t Te hift Terror rro ism ris m Business has potential to meet most challenges... % A GREAT DEAL/FAIR AMOUNT 88% 88% 30 86% 86% 86% 86% The Deloitte Millennial Survey 85% 85% 84% 84% Crime / Health / Education Economic Environmental Social Crime / Health / Education Economic Environmental Social Political instability / Conﬂict / Terrorism Privacy / Cyber security Political instability / Conﬂict / Terrorism Privacy / Cyber security 83% 83% 82% 82% 81% 81% 80% 80% 78% 78% 77% 77% 73% 73% 72% 72% 71% 72% 72% 71% 66% 64% 66% 64% 59% 59% Q. Thinking of these same challenges how much do you think business can potentially do to help meet them? Base: All regarding each issue to be a challenge Range 2,113–295 57% 57% 52% 52%
io at uc -2% -18% n, sk St Un ills ab em an ilit Pr pl yn d ot oy tra ec Cli m at Ed tin m in en io uc a in na t g at g en te c le io vir ha co n, H no sk onm nge St ea ills m ab e / Cy ies an nt lthc ilit be ar yn d Fo rs e/ tra aCo od di tio ec in se m su in ur nam as g pp ity l eu e lie cni pr ony s/ to ev c Hu mo en iese h ng tio Un sio er n em n /F pl /S am oy oc in m Cy ial e en be in t rs vo Cr He Pr ec Fou lve im iva Re alt orit e m cy dy s hc Aou /P en su ger ar of er t c pp e ine in so /D g sc di lie na por vid ise a s/ ls pcut ua as iy Hu af e ls lat et ng pr /U io y ev er ns se en /F In /D of tio eq am pe em n ua in rso og lity e na ra -i Co ld ph nc m at ic om m a sh un es ift ity /W co Te ea he rro lth sio ris n Co m In /S ns ﬂa oc eq tio ial ue n in nc vo es lve of m na en tu Ri t gh ra ld ts isa of ste m in rs or ity gr ou ps So cia lu Po nr es liti t ca W Cr l in ar im sta s/ e bi Co /P Ag lity er nﬂ ein so ict g na sb po ls et pu af w et lat ee y io n ns co /D un tri em es og ra ph ic sh ift Te rro ris m Ed 31 The Deloitte Millennial Survey 2% 0% -3% -4% -4% -7% Q. Thinking of these challenges, what impact if any are businesses currently having on them? Base: All regarding each issue to be a challenge Range 2,113–295 -8% ls of a at ld na rso pe 57% in Cl co im Pr m ot at es e ec c /W tin ha ea g ng Re en e lth so vir / ur on ce m en sc ar t cit y se /U es tri un co 59% y- t es nr lit ua eq In ua vid di in y n 64% lu cia of lit bi ee 66% So cy iva sta w et sb rs ste isa 71% Pr l in ica lit ict nﬂ Co ps ou gr 72% Po s/ ar n tio 27% ld 72% W 8% ity ra 73% or 38% ﬂa 24% tu 77% in na 78% m 80% In 8% 81% of es 11% 82% nc of 12% 83% ts 18% 84% gh NET POSITIVE IMPACT Ri 85% ue 86% eq 86% ns 88% Co ...But could do more to fulfill this potential Crime / Health / Education Economic Environmental Social Social Crime/Health/Education Economic Environmental Political instability / Conﬂict / Terrorism Cyber security Political instability/Conﬂict/TerrorismPrivacy /Privacy/cyber-security 52% -12% -25% -28%
Un uc em Pr ati ot on ploy C, m Ed ecti limsk e ng a ill uc tes a nt at iPr env chnd oo i He n,te Cro an tr St alt sctl limm geain ki n ab h iln e /i ae ilit car sg n atent ng n Fo Fo y n e / dvt ch ir o a at D od o io ise ainm nge d su su na a in g / pp p e pl l ecse p nt lie ie on re s/ s Hu / H omven ng un ies tio n er ge /F r/ a Fa St Un min min ab Cy ilit be em e e W y n r s pl ar He s Pr / C R ati ecu oym iva alt cy hc on eso ona rity en t ar ﬂic ur l e of e ts ce co in /D b di s n vid ise etw car om ci ie ua a ls C se peen ty s / U ri r c se me eve oun In of / P nti tri eq pe ers on es ua rso on lity n a - i Re al d l sa Co nc s f m om ou ata ety m rc un es e ity / W sca co ea rcit he lth y sio n Co Pr In In iva ns In / So ﬂa ﬂa eq c cy eq tio tio ial n n of uen ual i in ce ity nvo Te di s vid of - in lve rro u n co me rism Ri als / atu mes nt gh U ra ts se l d / W of o isa ea m f p ste lth in er rs Co or so ity na ns eq gr l d o a ue nc S So ups ta es oc cia of ial l u Co Po na unr nre m liti tur es st m ca al t W un C l in di ar ity rim s sa s/ c e oh / Cyb tab ster Co Ag nﬂ esio Pers er ility s ein ict n on sec g s b / S al ur po pu Ri etw ocia safe ity g e l lat io hts en inv ty ns o c o Ag / D f m oun lvm ein em ino tri en g og rity es t po r gr pu Poaph ou lat lit ic io ica sh ps ns / D T l in ift em er sta ogrori bilit ra sm y ph ic sh ift Ed Government has even greater potential to meet most challenges... % A GREAT DEAL/FAIR AMOUNT 90% 88% 32 86% 87% 86% The Deloitte Millennial Survey Economic Economic Environmental Social Environmental 87% 87% 86% 86% 86% 85% 85% 84% 83% 82% 81% 80% 84% 78% 84% 77% 84% 73% 83% 72% 83% 72% 82% 71% 80% 66% 79% 64% Crime Crime/Health/Education Social / Health / Education Political instability /instability/Conﬂict/Terrorism Privacy / Cyber security Political Conﬂict / Terrorism Privacy/cyber-security 79% 59% Q. And for these same challenges how much do you think governments can potentially do to help meet them? Base: All regarding each issue to be a challenge Range 2,113–295 NOT ASKED IN CHINA 79% 57% 78% 73% 52%
-2% -12% -23% ns eq Un ue em nc Pr pl es ot oyH ec Cli of ma e Ed tin m enth na l uc g ate t ca tu at ra re io env ch ld iro an n, /D isa nm ge sk ise St ste ills ab as e / rs an nt ilit e pr yn Pr d Fo ev ot tra at od en ec Cl in io im su tin in tio na g at pp g n le e en c lie co s/ vir ha no on ng Hu m m e ies ng Cy e / er be nt /F rs am E ec indu ur Cy e ca ity be tio r s Fo Te n, He Pr ec o rro iva sk Re alt urd s ris ills cy ity u so hc m pp ur ar of an lie ce e d in /D s/ tra di sc vid ise ar Hu in cit in ua as ng g y e ls er pr /U /F ev se en am In of tio in eq pe e n ua rso lity na -i Co ld nc m at om m a un es ity /W co ea he lth sio n Co In /S ns ﬂa oc eq tio ial ue n in nc vo es lve of m na en tu Ri t gh ra ld ts isa of ste m in rs or ity gr ou ps So cia lu Po nr es liti t ca W Cr l in ar im sta s/ e bi Co /P Ag lity er nﬂ ein so ict g na sb po ls et pu af w et lat ee y io n ns co /D un tri em es og ra ph ic sh ift Te rro ris m Co 33 The Deloitte Millennial Survey 7% 6% 4% -4% no ph ra 77% -4% 73% ic sh in Ri m di ift gh ies vid ts ua of ls/ m us in Co e or of m ity m pe gr un rso ou ity ps na Re co ld so he at ur sio a ce n sc /S Cr ar oc im cit ial e y /P in er vo so lve Un na m em ls en pl af t oy et y m en W t ar /C on ﬂic In ts ﬂa be tio tw n ee In n eq co ua un lit tri yes in So co cia m es lu /W nr es Po ea t lit lth ica l in sta bi lit y of co og em /D 78% cy le na io at ns 80% yn io 81% ilit lat pu 82% iva 7% 83% Pr 7% 84% ab 8% 85% St 11% 86% po 86% g 88% ein Ag ...but governments largely seen to be ‘failing’ NET POSITIVE IMPACT: GLOBAL Economic Crime / Health / Education Environmental Social Crime / Health / Education Economic Environmental Social Political instability / Conﬂict / Terrorism Privacy / Cyber security Political instability / Conﬂict / Terrorism Privacy / Cyber security -4% 72% 72% 71% -14% 66% -15% Q. Thinking of these challenges, what impact if any are businesses currently having on them? Base: All regarding each issue to be a challenge Range 2,113–295 64% 59% 57% -31% 52% -7% -15% -32% -33%
Governments largely seen to be ‘failing’, especially in developed markets NET POSITIVE IMPACT Consequences Terrorism of natural disasters Cyber security Healthcare / Education, Climate Disease skills and change / training Protecting prevention environment Food supplies / Hunger / Famine Ageing population / Demographic shift Rights of minority groups Stability of Privacy of national individuals / economies Use of personal data Community cohesion / Social involvement Resource scarcity Crime / Personal safety Wars / Unemployment Inﬂation Conﬂicts between countries Inequality incomes / Wealth Social unrest Political instability 15% 11% 10% 12% 7% 11% 10% 9% 6% 7% 7% 4% 8% 8% 12% 10% 6% 5% 4% 4% 3% -3% -2% 3% -2% -1% -3% -10% 3% 1% -4% -4% -9% -7% -9% -9% -12% -15% -17% -20% -11% -12% -14% -15% -15% -16% -19% -21% -23% -27% -28% -32% Global Developed markets Emerging markets Q. And what impact, if any, are governments currently having on them? Base: All regarding each issue to be a challenge Range 2,113–295 NOT ASKED IN CHINA 34 The Deloitte Millennial Survey -31% -31% -34% -29% -32% -35% -33% -42%
n, ills sk Ed 32% 88% 32% 6% -7% -13% an ucat Un i yn d tra on, em at sk Pr S i io pl ot na tabning ills oy C an il m le Ed ecti lim en d co ity n ng a uc tra t te no ati at in on m io env ch Un in iro an n, al ies g em ec nm ge sk St pl on ills ab e / oy om an nt ilit Po Un m yn d ies en lit Fo em tra ica at t od pl in io Cr l in oy su in na im Po m g sta pp le en e lit lie bi co ica /P t s/ no Clirty l in er im Hu so m sta e ies na ngC bi /P ls lit ero er y af /mm so et Fa So na y u mn Co ls cia init Cy af m ey lu be et m co So nr y un rs he cia es He Pr ity ec sio t lu iva Re alt ur co n nr cy ity so hc Ine h es /S ur ar ﬂsai of t oc ce e oin to in /D ial In di sc / nS ﬂa vid ise ar in oc tio cit vo ua as ial n y lve e ls in In pr /U m vo eq ev lve se Cy In ent enW ua In m of be eq tioa lit eq en y - W r ua pe Cy nrs t ua se lit rso be /C in ar lity co s cur y rs na on ec -i Co m / C ity inc ld ﬂic nc ur es on om m at ts ity om m / W ﬂic aH es be un ea ts es /W ea b tw H ity lth Ag /W ea co ca A eenealt lth etw eie hc lth nag he ee re ge lth Pr n sio / D ing cou are po co iva n Co pu Priv ise po ntr / D un Icy nﬂ /S ns lat ac as pu ies ise tri oc atf oi eq y o e la as es io ial oin ue e ns f i pre tio di pr in nc / D ndi ve ns vid ev vo es en lve em vid ntio / De ua of tio m ls og uals n mo na n en /U gr r tu Ri Fto Foaph / Us ap se gh ra od e hi ld of od ic ts cs su isa su sh of p of pe hi pp pp ift ste er m rso ft so lie lie in rs na s na or s/ ity ld /H ld Hu at at un gr ng a Ri a Ri ge ou gh er gh r/ ps ts So /F ts Fa cia of am of m m in lu m in in e Po nr in e or or es liti ity ity t ca W gr Cr l in gr ou ar im ou sta s/ ps e ps bi Co /P Ag lity er nﬂ ein so ict g na sb po ls Te et pu af w rro et Te lat ee y ris rro io n m ns co ris /D un m Co tri em ns es Co eq og ns ue ra eq nc ph Re ue es ic so nc of sh ur Re es ift na ce so tu of Te sc ur ra rro naC ar ce ld l cit tuim ris isa pr r a sc y m ot al g ste ar Cl ec de c rs pr ima city tin isaha ot g g ste g ec e c th nr e e s / tin ha en g ng vir th e on e / en m en vir t on m en t ilit ab St uc at io Business ‘leads’ over governments BUSINESS ‘LEAD’ OVER GOVERNMENT (ON NET POSITIVE IMPACT) BUSINESS ‘LEAD’ OVER GOVERNMENT (ON NET POSITIVE IMPACT) Economic USINESS ‘LEAD’ OVER GOVERNMENT (ON NET POSITIVE IMPACT) 35 86% 31% 31% 86% 85% 27% 26% 84% 20% 83% 20% 27% 26% The Deloitte Millennial Survey 20% 20% 82% 19% 19% 81% 18% 18% 80% 17% 17% 13% 78% 13% 11% 77% 11% 10% 73% 72% 6% Environmental 72% 6% 6% 71% 4% 4% Social Political instability/Conﬂict/Terrorism Crime/Health/Education Privacy/cyber-security Economic Environmental Where business having net positive Social Economic Environmental impact, Social lead not a case of being ‘less negative’ 66% Q. And what impact, if any, are governments currently having on them? Base: All regarding each issue to be a challenge Range 2,113–295 NOT ASKED IN CHINA Crime/Health/Education Crime / Health / Education Political instability/Conﬂict/Terrorism Political instability / Conﬂict / Terrorism Privacy/cyber-security Privacy / Cyber security Where business having net positive impact, lead not a case of being ‘less negative’ 64% 59% 1% -7% -13% 57% 52% 10% 1% -16% -32% -16% -32%
Innovation: Sources 36 The Deloitte Millennial Survey
Innovative solutions ‘more likely’ to come from business than any other source INNOVATIVE SOLUTIONS ‘MORE LIKELY’ 47% 44% 41% TO COME FROM BUSINESS THAN ANY OTHER SOURCE 25% 23% 22% 24% 22% 18% 6% 8% 7% 5% 1% Businesses / Entrepreneurs Global Universities / Academic bodies Developed markets Governments Charities / NGOs 1% 1% Other Emerging markets Q. In the future where do you think most of the innovative solutions to society’s challenges will come from? Base: Mature/Western markets 3,265, Emerging markets 4,591 37 The Deloitte Millennial Survey 4% 2% Don’t know
Health, environment and cyber-security ‘will see’ most ground-breaking innovation TOP 10 AREAS FOR EXPECTED INNOVATIVE ACTIVITY 31% 31% 29% 27% 27% 25% 32% 30% 32% 30% Healthcare / Disease Resource scarcity prevention 21% 30% 28% Cyber security 28% 26% Climate change / Protecting environment 31% 21% Education, skills and training 17% 28% 20% Unemployment 22% 19% Food supplies / Hunger / Famine 17% 17% 20% 13% 21% 12% 16% 17% Stability of national economies Global Developed markets Emerging markets Q. Over the next 5–10 years for which of societies challenges do you think we will see the greatest number of groundbreaking innovations? Base: Mature/Western markets 3,265, Emerging markets 4,591, Total 7,867 38 The Deloitte Millennial Survey Crime / Personal safety Privacy of individuals/use of personal data
Millennials ‘bet’ on traditional economic powerhouses to produce future innovations AVERAGE SCORE (EXCLUDES ‘VOTES’ FOR OWN MARKET) 16% 16% 14% 12% 11% 9% 9% 9% 8% 8% 8% 7% 6% 6% 5% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 3% U.S. Global JAPAN Developed markets CHINA GERMANY UK SWITZERLAND INDIA CANADA 4% 3% MTS 4% 2% SOUTH AFRICA Emerging markets Q. Imagine that you were given a fund of money and asked to use it to stimulate successful innovations. You can give all your points to a single country, spread them across just a few or spread them more widely. Base: 7,867 Total, 3,265 Mature/Western Markets, 4,591 Emerging Markets 39 The Deloitte Millennial Survey
Innovation: Facilitators & barriers 40 The Deloitte Millennial Survey
Innovation: ‘Process’ not ‘genius’ Perceptions of innovation being ‘spontaneous’ highest in… 6% Don’t know Innovation is spontaneous and random. Does not come from processes and practices. 57% Innovation can be learned and is repeatable. Organizations can become good at innovation by following established processes. Q. Which of the following best describes your view as to the nature of innovation? Base: 7,867 41 The Deloitte Millennial Survey Japan 50% South Korea 48% Peru 45% France 43% Switzerland 43% China 41% Canada 41% South Africa 40% UK 40% 37% 52% Colombia
Barriers & constraints cover three main areas: Boardroom, Operations and HR 63% Not willing to take risks, complacency, no eye on future, inward looking 61% Channels of communication, no formal processes, lack of teamwork, organizational structure, not incentivized Management’s attitude / Lack of vision Operational factors 39% Employees skills, attitudes, diversity 33% Financial barriers 17% External factors 15% Pressure / Deadlines Q. What do you believe to be the main barriers or constraints on innovation within a business setting? Base: All respondents 7,867 42 The Deloitte Millennial Survey
Employers ‘could do more’ to encourage and reward innovative thinking ENCOURAGES ITS PEOPLE TO CHALLENGE THE STATUS QUO AND SUGGEST NEW WAYS OF DOING THINGS Don’t know Not at all Totally To a large extent To some extent Not very much 3% 8% 22% 27% 25% 15% Q. To what extent, if at all, do the following describe the organization you work for? Base: 7,867 43 The Deloitte Millennial Survey REWARDS ITS PEOPLE FOR INNOVATIVE IDEAS Don’t know Not at all Totally To a large extent 3% 11% 22% 24% To some extent 23% Not very much 17%
Innovative ‘reputation’ influential when looking at prospective employers DEVELOPED MARKETS Don’t know Strongly agree Tend to agree Tend to disagree Strongly disagree 8% 20% 47% 20% 5% EMERGING MARKETS Don’t know Strongly agree Tend to agree Tend to disagree Strongly disagree 2% 2% 42% 44% 9% Q. To what extent do you agree or disagree with the following statements?—I am strongly influenced by thoughts of how innovative they are when deciding if I want to work for a particular organization. Base: 7,867, Developed Markets 3,265, Emerging Markets 4,591 44 The Deloitte Millennial Survey
Millennials’ ‘personality’ 45 The Deloitte Millennial Survey
Organizations ‘could do more’ to develop future leaders 26% 22% To some extent Totally Least positive regions/countries: Most positive regions/countries: 75% India 72% Philippines 8% Not at all Not very much 38% Canada 56% Latin America 38% Netherlands 56% BRICS 37% France 55% South East Asia 33% South Korea 55% Emerging markets Don’t know 39% Spain 61% Mexico 14% 41% Developed markets 62% Colombia 3% 42% North America 64% Indonesia 27% To a large extent 43% Western Europe 26% Japan 49% Totally/large extent Own organization ‘characterized’ by development of leadership skills Q. To what extent does the following describe the organisation you work for? “Does all it can to develop your skills as a leader.” Base: All 7,867 respondents 46 The Deloitte Millennial Survey
Almost one in four Millennials ‘asking for a chance’ to show their leadership skills 45% Training & instruction 13% Encouragement/ mentoring Q. How could your organization help you to develop your leadership skills? What specific actions would be most helpful? Base: (blanks, dks, not sure, etc., removed): 6,546 47 The Deloitte Millennial Survey 27% Give me opportunity 10% Incentivization
Chance to lead most keenly sought in emerging markets Give me more responsibility/allow me to lead projects/be a team leader LEADERSHIP TRAINING MOST IN DEMAND GREATER OPPORTUNITY SOUGHT 67% 40% GERMANY COLOMBIA 62% 33% SOUTH AFRICA 59% 33% BRAZIL 55% 33% RUSSIA AUSTRALIA 53% 33% AUSTRALIA CHINA 52% 31% TURKEY BRAZIL 52% 31% U.S. SOUTH AFRICA THE NETHERLANDS INDONESIA 51% 27% SWITZERLAND AVERAGE AVERAGE 45% Q. How could your organization help you to develop your leadership skills? What specific actions would be most helpful? Base: (blanks, dks, not sure, etc., removed): 6,546 48 The Deloitte Millennial Survey
Millennials ‘wish’ they knew more about… 21% 20% Communication: assertiveness, negotiation Speciﬁc skill e.g., IT, ﬁnance, legal, tax 12% Professionalism: time-keeping, hard work, being organized 19% Business knowledge/reality of work/experience 18% Better education/ more training/ knowledge (unspeciﬁaed) Q. What skills, knowledge or attributes do you think you lacked when you first started full-time work, which would have meant you were better prepared for the world of work? Base: (blanks, dks, not sure, etc., removed): 6,555 49 The Deloitte Millennial Survey
Most see themselves outside of ‘traditional’ organizations (but less so in ‘mature markets’) 37% Tend to agree 33% Strongly agree 17% Tend to disagree 6% Don’t know 7% Strongly disagree Q. To what extent do you agree or disagree with the following statements?—I see myself as one day working independently rather than being employed within a traditional organisational structure? Base: All 7,867 respondents 50 The Deloitte Millennial Survey I see myself as one day working independently rather than being employed within a traditional organizational structure.
Future ‘entrepreneurs’ found in emerging markets WORKING INDEPENDENTLY 87% 88% 86% 82% 81% 70% 70% 67% 56% 53% 52% 39% India China Latin America Emerging markets SE Asia 11% 15% 15% South Africa Global Russia 24% 24% 23% North America 7% TRADITIONAL ORGANIZATIONAL STRUCTURE Developed markets 37% 11% Western Europe Japan 37% 33% 51% Q. To what extent do you agree or disagree with the following statements?—I see myself as one day working independently rather than being employed within a traditional organisational structure? Base: All 7,867 respondents 51 The Deloitte Millennial Survey
Millennials charitable and keen to participate in ‘public life’ (but will boycott/petition rather than physically protest) 25% Written to a newspaper, publication, TV or radio news program Boycotted/avoided a company's products for ethical reasons 42% Made choices over (employee)/tasks undertaken for ethical reasons 82% 52% 44% Voted in national or local election or referendum NOT CHINA Signed a physical or online petition Emailed/written/posted about social or political issues on 'SOCIAL MEDIA' 43% 29% Attended a public demonstration/ protest/march NOT CHINA Been an active volunteer, member of a community organization Q. Over the past two years have you participated in or undertaken any of the following activities? Base: All 7,867 respondents 52 The Deloitte Millennial Survey 50% 35% Worked on a national, regional, local political campaign NOT CHINA 22% Attended public meeting on local affairs or political event 63% 30% Contacted an elected representative/ public ofﬁcial to express views Donated to charities, healthcare organizations etc.
Countries featuring in top ten for each activity: India, Chile, Indonesia, China & Colombia feature strongly Volunteering Charity Social media comments Boycott products Protest/demonstrate Q28. Over the past two years have you participated in or undertaken any of the following activities? Base: All 7,867 respondents 53 The Deloitte Millennial Survey
Few activities linked to an ‘anti-business’ mind set % ENGAGED IN ACTIVITY MADE CHOICES OVER (EMPLOYEE)/ TASKS UNDERTAKEN FOR ETHICAL REASONS 53% 44% SIGNED A PHYSICAL OR ONLINE PETITION 51% 65% EMAILED/WRITTEN/POSTED ABOUT SOCIAL OR POLITICAL ISSUES ON 'SOCIAL MEDIA' 47% 41% BOYCOTTED/AVOIDED A COMPANY'S PRODUCTS FOR ETHICAL REASONS 41% 55% CONTACTED AN ELECTED REPRESENTATIVE/ PUBLIC OFFICIAL TO EXPRESS VIEWS 33% 25% ATTENDED A PUBLIC DEMONSTRATION/ PROTEST/MARCH (NOT CHINA) 30% 31% 28% 17% WRITTEN TO A NEWSPAPER, PUBLICATION, TV OR RADIO NEWS PROGRAM WORKED ON A NATIONAL, REGIONAL, LOCAL POLITICAL CAMPAIGN (NOT CHINA) ‘Pro’ business 25% 15% ‘Anti’ business Q. Over the past two years have you participated in or undertaken any of the following activities? Base: Pro business 5,790, Anti-business 872 respondents 54 The Deloitte Millennial Survey
Stay connected www.deloitte.com/MillennialSurvey #MillennialSurvey Created by DTTL Global Brand & Communications Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence. This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this publication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication. © 2014. For information, contact Deloitte Touche Tohmatsu Limited.
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