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Life Issues Faced by Millennials

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Words: 1098 |

Pages: 2|

6 min read

Published: Sep 4, 2018

Words: 1098|Pages: 2|6 min read

Published: Sep 4, 2018

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Table of contents

  1. Introduction
  2. Changing Attitudes Towards Job Security
  3. Attitudes Towards Business and Social Responsibility
  4. Employment Preferences and Automation Concerns:
  5. Social Engagement and Living Preferences
  6. Communication Preferences and Technology:
    Financial Priorities and Challenges:
    Key Concerns:
    Brand Loyalty:
    Optimism for the Future:
  7. Conclusion

Introduction

Over the past few years, the attitudes and aspirations of millennials, individuals born between 1981 and 1996, have undergone significant transformations. Initially characterized by a desire for job mobility and a strong sense of independence, millennials have recently exhibited a shift towards more conservative career choices and a heightened sense of concern about the global political and social landscape. In this essay, we will delve into the evolving perceptions of millennials, drawing from the Deloitte Global's sixth annual Millennial Survey, which surveyed nearly 8,000 millennials across 30 countries in September 2016. This comprehensive analysis will explore the factors influencing these shifts and their implications for both individuals and society as a whole.

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Changing Attitudes Towards Job Security

One striking finding from the Deloitte survey is that millennials are now less inclined to leave their current jobs than they were in previous years. This shift in attitude can be attributed to the increased uncertainty arising from political and social upheavals. In a world marked by conflicts and economic challenges, many millennials perceive the security of their jobs as a valuable anchor amidst the turbulence.

The survey revealed that, particularly in developed countries, millennials have become less optimistic about their future prospects and the directions their countries are heading. This pessimism is a notable departure from the optimism they exhibited in the past. In contrast, millennials in emerging markets appear to be more hopeful, with a significant majority expecting to be financially and emotionally better off than their parents. This disparity in outlook between developed and developing nations highlights the growing chasm in economic, social, and political sentiments.

Attitudes Towards Business and Social Responsibility

Another noteworthy aspect of millennials' evolving perceptions is their view of businesses. According to the survey, 76 percent of millennials believe that businesses, in general, are having a positive impact on the wider society in which they operate. This indicates a positive shift in their perception of the corporate world. However, it is important to note that millennials also feel that multinational businesses are not fully harnessing their potential to address society's most pressing challenges.

This mixed perspective on business is reflective of millennials' desire for meaningful engagement in addressing societal issues. They feel a sense of accountability both in the workplace and in the broader world. Interestingly, millennials see the workplace as a primary avenue for making a positive impact. Opportunities to engage with "good causes" at the local level, often facilitated by employers, provide millennials with a sense of influence and empowerment. They seek to make a difference not only through activism but also through their professional endeavors.

In terms of leadership, millennials exhibit distinct preferences. The survey data indicates that millennials tend to support leaders who employ plain, straightforward language and advocate for inclusiveness. They are less inclined to support leaders who take divisive positions or advocate for radical transformation. This preference for pragmatic and inclusive leadership reflects millennials' desire for stability and gradual change rather than abrupt upheaval.

Employment Preferences and Automation Concerns:

Despite the perceived advantages of freelancing or consulting, nearly two-thirds of millennials express a preference for full-time employment. This preference can be attributed to millennials' anxieties about global events and increasing automation in the job market. The allure of flexible work options competes with the desire for job security.

Additionally, millennials' perceptions of Generation Z (those currently aged 18 or younger) are generally positive. They believe that Gen Z possesses strong information technology skills and creative thinking abilities. This optimism suggests that millennials foresee a positive impact as Gen Z enters the workforce, especially in emerging markets.

Social Engagement and Living Preferences

Recent surveys conducted in the United States show that millennials, even amidst uncertainty and economic challenges, still hold onto the American Dream. A significant majority of young entrepreneurs under the age of 30 believe in the American Dream and are active in their communities outside of work. They are idealistic, with a significant portion aspiring to change the world for the better.

Communication Preferences and Technology:

To effectively engage with millennials, it is crucial to understand their communication preferences. They heavily rely on the internet and social media for information and interaction. A majority get their news from trusted websites and rely on content shared by friends. Social media platforms like Facebook, Instagram, Twitter, LinkedIn, and Snapchat are their primary choices for content sharing and interaction.

Financial Priorities and Challenges:

Millennials prioritize entrepreneurial endeavors, with a substantial portion citing funding such endeavors as their top financial priority. Many also regret not saving enough money. Financial advice is often sought from parents and friends.

Key Concerns:

A notable trend among millennials is their gravitation towards urban living. This shift has implications for various industries, including transportation, housing, and sustainability. Their key concerns encompass global warming, terrorism, and economic stability, reflecting their heightened awareness of pressing global issues.

Brand Loyalty:

Millennials are known for their brand loyalty, with Apple being a prime example. They prioritize superior design and quality when making purchasing decisions. This loyalty extends to companies that align with their values and engage in meaningful social and environmental initiatives.

Optimism for the Future:

Intriguingly, despite the challenges and uncertainties they face, a vast majority of millennials remain extremely optimistic about their future. This optimism is a valuable resource that companies and organizations can harness to drive positive change and progress.

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Conclusion

In conclusion, millennials' perceptions and aspirations have evolved in response to changing global dynamics. They are less inclined to job-hop and prioritize job security in uncertain times. Their attitudes towards business and leadership emphasize the importance of social responsibility and inclusiveness. While they express concerns about automation and global challenges, their optimism about the future remains unwavering. To engage with this generation effectively, organizations must understand their communication preferences, financial priorities, and commitment to social engagement. As millennials continue to shape the workforce and society, their evolving perceptions will continue to be a subject of significant interest and study.

References:

  1. PricewaterhouseCoopers (PwC). (2021). PwC’s NextGen: A Global Generational Study. [PDF]. https://www.pwc.com/gx/en/about-us/pwc-nextgen/assets/pwc-nextgen-a-global-generational-study.pdf
  2. Deloitte. (2020). Deloitte Global Millennial Survey 2020. https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
  3. The Millennial Leadership Survey. (2019). The Millennial Leadership Survey: A Study of Millennial Leadership Preferences. Harvard Business Review. https://hbr.org/resources/pdfs/comm/harvard-business-review-millennial-leadership.pdf
  4. Pew Research Center. (2021). Social Media Use in 2021. https://www.pewresearch.org/internet/2021/04/07/social-media-use-in-2021/
  5. The Center for Generational Kinetics. (2021). The 2021 State of Gen Z and Millennials Report. https://genhq.com/research-info/the-2021-state-of-gen-z-millennials/
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Life Issues Faced by Millennials. (2018, Jun 07). GradesFixer. Retrieved April 12, 2024, from https://gradesfixer.com/free-essay-examples/life-issues-for-millennials/
“Life Issues Faced by Millennials.” GradesFixer, 07 Jun. 2018, gradesfixer.com/free-essay-examples/life-issues-for-millennials/
Life Issues Faced by Millennials. [online]. Available at: <https://gradesfixer.com/free-essay-examples/life-issues-for-millennials/> [Accessed 12 Apr. 2024].
Life Issues Faced by Millennials [Internet]. GradesFixer. 2018 Jun 07 [cited 2024 Apr 12]. Available from: https://gradesfixer.com/free-essay-examples/life-issues-for-millennials/
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