KUALA LUMPUR (July 15): Multinational professional services provider Deloitte says its Millennial Survey has presented a complicated but hopeful picture as even in the midst of a crisis, millennials and Gen Zs are recommitting to improving society, pushing for a world in which businesses and governments mirror their own commitments.

In a statement today, Deloitte explained that its survey consisted of two parts: a "primary" survey of 18,426 millenials and Gen Zs across 43 countries conducted between November 2019 and January 2020, and a "pulse" survey of 9,102 individuals over 13 countries taken between April and May of 2020 in the midst of the worldwide pandemic.

Prior to the pandemic, Deloitte found 46% of Malaysian millennials agree they feel anxious or stressed all or most of the time. Respondents cited personal long-term financial future (57%), family’s welfare (54%), and job or career prospects (50%) as primary sources of the stress.

“Interestingly, stress levels fell in the second survey, possibly indicating that the slowdown of life in lockdown may have reduced stress levels,” said Deloitte.

However, approximately 39% of Malaysian millennials and Gen Zs took time off work due to stress before the pandemic, though around 44% told their employers it was for a different reason, indicating stress and mental wellness remain critical issues for young generations and these issues are manifested in work settings.

“Encouragingly, flexible working arrangements, which were widely implemented as a result of the pandemic, may present one solution. Globally, 69% of millennials and 64% of Gen Zs agreed having the option to work from home in the future would relieve stress.”

In the pulse survey, 61% of millennial respondents believed their financial situations will worsen or stagnate in the next year than improve, a seven-percentage-point jump from the primary survey.

Meanwhile, nearly three-fourths of millennials said the pandemic has made them more sympathetic to the needs of others, and they will take action to positively impact their communities.

For both millennials and Gen Z’s, this focus on doing good is reflected in their purchasing habits with about 60% planning to buy more products and services from large businesses that have taken care of their workforces and positively impacted society during the pandemic.

Around three-quarters will make an extra effort to buy products and services from smaller, local businesses.

Deloitte also observed a rise in optimism that future efforts to protect the environment will succeed. 80% believe governments and businesses need to make greater efforts to protect the environment, yet they are concerned that the economic impact of the pandemic might make this less of a priority.

51% of millennials globally believe business is a force for good with a decline to 41% and 43% for Gen Zs in the pulse survey.

34% of Malaysian millennials said in the primary survey that they want to stay with their employers for five or more years than to leave within two years. Those who would leave in two years or less dropped from 38% to 23% in Malaysia from 2019 to 2020.

Deloitte’s survey also highlighted that respondents were largely receptive to how employers were navigating the Covid-19 crisis.

Around 60% believe these actions have made them want to stay with their employers for the long term.