mind the gaps the 2015 deloitte millennial survey
TRANSCRIPT
Mind the gapsThe 2015 Deloitte Millennial survey Summary of global findings
2 The 2015 Deloitte Millennial Survey
Research approach
Sample profile: ‘The educated elite’
1 Headline findings
2 Economic confidence
3 Image, purpose and impact of business
4 Leadership: Characteristics and behavior
5 Sectors: Appeal; impact on society, personal and financial well-being
6 Social Media & Technology: Use and attitudes
7 Ambition and skills
Contents
2 The 2015 Deloitte Millennial Survey
3 The 2015 Deloitte Millennial Survey
Research approach
WHO• Millennials: participants
born after 1982
• Degree educated
• In full-time employment
• Three-quarters in large organizations (100+ employees)
• Over three-quarters work for private sector businesses
WHERE29 markets across: Western Europe, North America, Latin America, BRICS (Brazil, Russia, India, China, South Africa) and Asia Pacific
WHENFrom 8 October to 3 November 2014
WHAT• 15-minute quantitative
questionnaire conducted online
• Approximately 300 interviews per market
• Over 7,800 respondents
4 The 2015 Deloitte Millennial Survey
Research scope
TOTAL7,806
Argentina | 300Brazil | 300Chile | 305China | 300Colombia | 305India | 351
Indonesia | 304Mexico | 308Malaysia, Thailand and Singapore (MTS) | 303Peru | 207The Philippines | 309
Russia | 300South Africa | 200South Korea | 303Turkey | 300
Australia | 300Belgium | 200Canada | 300France | 300Germany | 301Italy | 310
Japan | 300Netherlands | 300Spain | 300Switzerland | 200UK | 300U.S. | 300
EMERGING MARKETS | Interviews achieved: 4,395 DEVELOPED MARKETS | Interviews achieved: 3,411
5 The 2015 Deloitte Millennial Survey
Sample profile: ‘The educated elite’
EDUCATION LEVEL
UNIVERSITY/COLLEGE DEGREE
2ND DEGREE,MASTERS OR PHD
83% 17%
ORGANIZATION SIZE (EMPLOYEES)
ORGANIZATION TYPE
26%
17%
25%
32%
1–99
100–249
250–999
1000+
19%
59%
17%
3% 3%
Listed/publicly owned business
Privately owned business
State owned or public sector organization
Not-for-profitorganization/charity
Other
6 The 2015 Deloitte Millennial Survey
Headline findings
6 The 2015 Deloitte Millennial Survey
7 The 2015 Deloitte Millennial Survey
Headline findings: Role and impact of business
Economic confidence improving overall: driven by North America/Mexico, China, India, UK, Spain and Netherlands.
Business continues to be viewed very positively, only in Italy is this a minority view. Seen as taking a strong leadership position on important social issues, more so than governments, but Millennials in developed markets are questioning its ethics.
Individually job creation, profit generation and improving society are regarded as business’s main purpose; while its greatest IMPACT is on profits and wealth creation.
‘Connected’ Millennials have a strong ‘social conscience’, are more positive about business’s impact and ethics and are attracted by organizations with a strong sense of purpose.
‘Below par’ performance by business on improving society, livelihoods and skills.
Questions over the ethics of business in developed markets.
8 The 2015 Deloitte Millennial Survey
Headline findings: Leadership
Organizations that lead are characterized by their treatment of employees (pay and personal development), impact on society, innovative products and financial success.
‘Connected’ Millennials have a far less cynical view of their leader’s priorities.
Millennials’ nominations for ‘strong leadership’ drawn primarily from the TMT sector.
A ‘true leader’ is characterized by their strategic thinking; by being inspirational and visionary; being decisive, passionate; and with good inter-personal skills.
Millennials would place more emphasis than their leadership team on employee well-being and social engagement. Leaders thought to ‘over-prioritize’ personal reward and short-term finances.
With some notable exceptions ‘true leaders’ are NOT marked out by being autocratic; driven by financial results or (paradoxically) having a positive impact on society; or having advanced analytical skills.
9 The 2015 Deloitte Millennial Survey
Headline findings: Sector image
Overall Millennials find large global businesses ‘twice as appealing’ as smaller organizations. One in six say their own start-up has most appeal when next they move.
TMT is considered the sector that will provide skills of most value to new graduates in next 5-10 years; a view most strongly held in Emerging markets where the consumer products sector is also highly regarded. TMT is the #1 choice for one in five of the ‘most connected’ Millennials.
The opportunity to ‘improve society’ thought to be greatest in Life Sciences; personal reward most associated with Financial Services; and individual development with Professional Services.
Personal interest and experience ‘driving’ choice of preferred sector; fewer than one in ten Millennials cite financial reward.
Large global businesses hold less appeal for Millennials in Developed markets, who are also less inclined to start their own business.
Manufacturing, retail and transport sectors appeal to Millennials the least.
10 The 2015 Deloitte Millennial Survey
Headline findings: Skills and ambition
Most Millennials feel they have or can get the experience/skills they need from their current organization; but not from those that lack a sense of purpose.
Millennials feel they were stronger on ‘softer’ rather than ‘technical’ or entrepreneurial skills at graduation. Men believing more than women in their analytical, IT and leadership skills.
Millennials feel they ‘need’ to develop leadership, sales and entrepreneurial skills if they are to be better valued by businesses.
If hiring people in, Millennials would place more emphasis on personal attributes than business development or leadership skills.
Fewer than three in ten Millennials believe their organization makes “full use” of their skills.
Skills gained in higher education estimated to contribute little more than a third of those required to achieve organizational goals.
Millennials in Developed markets appear less interested in attaining senior positions.
11 The 2015 Deloitte Millennial Survey
Economicconfidence
11 The 2015 Deloitte Millennial Survey
12 The 2015 Deloitte Millennial Survey
Economic confidence: Slight improvement since 2013, led by Mature markets (Net improve: Next 12 months)
GLOBAL
CHINA
17%
61%
DEVELOPED MARKETS
SE ASIA (exc. China and Japan)
9%
29%
EMERGING MARKETS
LATIN AMERICA
24%
17%
+3 +7 +2
+12 -8 -2
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: All respondents=7,806
13 The 2015 Deloitte Millennial Survey
Image, purpose and impact of business
13 The 2015 Deloitte Millennial Survey
73%OF MILLENNIALS BELIEVE
THAT BUSINESSES AREHAVING A POSITIVE
IMPACT
The 2015 Deloitte Millennial Survey14
Business continues to be a positive force within wider society
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: All respondents=7,806
Business continues to be a positive force within wider society
15 The 2015 Deloitte Millennial Survey
Overall image of business is positive in all regions; but significant drop in Japan
*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: All respondents=7,806
90% 89% 85% 82% 79% 78%73%
67%62% 61%
55%
India China SE Asia* Emerging markets
Latin America Russia Global North
AmericaDeveloped
marketsWestern Europe* Japan
4% 2% 5%9%
14%10% 12% 15% 16% 18%
2%
TOP FIVEINDONESIA (98%)
PHILIPPINES (91%)
INDIA (90%)
CHINA (89%)
MEXICO (89%)
BOTTOM FIVEITALY (44%)
JAPAN (55%)
FRANCE (56%)
BELGIUM (59%)
GERMANY (61%)
POSITIVE IMPACT
NEGATIVE IMPACT
-13
16 The 2015 Deloitte Millennial Survey
Business takes strong leadership position on wider social issues, Millennials less convinced on ‘delivery’ and motivations
Q. Thinking about businesses around the world, would you agree or disagree that, on balance, the following statements describe their current behavior? Base: All respondents=7,806
75% They focus on their own agenda rather than considering the wider society
They take a strong leadership position on issues that impact wider society
They show stronger leadership thangovernments on important social issues
Their leaders are committed to helping to improve society
They behave in an ethical manner
Agree
Disagree23%
61% 35%
61% 35%
53% 44%
52% 44%
17 The 2015 Deloitte Millennial Survey
Emerging markets extremely positive about business’s motives; minority in Developed markets think it behaves ‘ethically’
Q. Thinking about businesses around the world, would you agree or disagree that, on balance, the following statements describe their current behavior? Base: All respondents=7,806
% NET AGREE
75%
61% 61%
53% 52%
74%
53% 52%
41% 41%
75%
68% 68%
62% 61%
They focus on their ownagenda rather than
considering the widersociety
They take a strongleadership position on
issues that impact widersociety
They show strongerleadership than
governments on importantsocial issues
Their leaders are committedto helping to improve
society
They behave in an ethicalmanner
Global Developed markets Emerging markets
18 The 2015 Deloitte Millennial Survey
Individually job creation, profit generation and improving society quoted as business’s main purpose (but in total it is seen to ‘drive us forward’)
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: All respondents=7,806
36%
34%
27%26%
25%
23%
21%
19% 19%
16% 16%
9%
41%
32%
29%
27%
23% 23%
20%
16%
20%
15%
17%
7%
32%
35%
25%26%
27%
24%
21% 21%
18%
16%15%
10%
Generate jobs Generate profit Improve society Drive innovation Enable progress Produce andexchange goods
and services
Enhancelivelihoods (of its
employees)
Create wealth Improve skills ofworkforce
Improve/protectthe environment
Drive efficiency Social leadership
Summary: One of business’s purposes
54%Efficiency/ Innovation/ Progress
51%Jobs/Livelihoods
46%Wealth/Profits
44%Society/Environment
Global Developed markets Emerging markets
19 The 2015 Deloitte Millennial Survey
The ‘Impact of business’ (On the top three purposes)
Q. Which of the following words and phrases match your own belief as to where businesses in today’s world are making the biggest impact? (CHOOSE UP TO THREE). Base: All respondents=7,806
33%GENERATE
JOBS
44%GENERATE
PROFIT
17%IMPROVE SOCIETY
Malay/Thai/Sing. 41%Netherlands 41%South Africa 40%Turkey 40%Indonesia 39%
Mexico/Spain 27%Switzerland 25%Colombia 23%France 23%Italy 14%
EMERGING MARKETS 34%DEVELOPED MARKETS 30%
Switzerland 62%Belgium 58%U.S. 54%Canada 53%France/Netherlands 52%
Japan 34%Colombia 33%Peru 27%Mexico 25%China 25%
DEVELOPED MARKETS 50%EMERGING MARKETS 40%
China 26%South Africa 24%Philippines 23%Turkey 23%Peru 23%
France/Italy/Belgium 14%UK 12%Chile 9%Germany 9%Switzerland 8%
EMERGING MARKETS 19%DEVELOPED MARKETS 14%
20 The 2015 Deloitte Millennial Survey
36%34%
27% 26% 25%23%
21%19% 19%
16% 16%
9%
33%
44%
17%
25%
21%
30%
13%
32%
12% 11%
16%
9%
- -1%
0%
Generate jobs
Improve society
Enable progress
Enhance employees'livelihoods
Improve skills of
workforce
Drive efficiency
Summary: Impact gap
-3%Efficiency/ Innovation/ Progress
-10%Jobs/Livelihoods
+14%Wealth/Profits
-12%Society/Environment
Purpose Impact Gap
Generate profit
Social leadership
Improve/protect
environment
Create wealth
Produce/exchange
goods & services
-3% 10% -10% -1% -4% 7% -8% 13% -7% -5% 0% 0%
Drive innovation
Q. Which of the following words and phrases match your own belief as to what business should try to achieve? (CHOOSE UP TO THREE) Q. Which of the following words and phrases match your own belief as to where businesses in today’s world are making the biggest impact? (CHOOSE UP TO THREE) Base: All respondents=7,806
The ‘Impact gap’: Business meeting expectations on wealth/profit creation, but underperforming on social advancement, helping employees, etc.
21 The 2015 Deloitte Millennial Survey
Don’t know
20%
3%
41%Strongly agree
Tend to agree
24%Tend to disagree
13%Strongly disagree
73%Charities/
Not-for-Profit
69%PublicSector
Purpose a ‘strong attraction’ for:
65%TMT
65%Life Sciences
and Healthcare
Purpose: Part of the reason six in ten Millennials work where they do
Q. Thinking about the company or organization you work for, to what extent would you agree or disagree with the following statements? Base: All respondents=7,806
22 The 2015 Deloitte Millennial Survey
Q. Thinking about the company or organization you work for, to what extent would you agree or disagree with the following statements? Base: All respondents=7,806
Purpose: Strong, clear and attractive to employees
80%
74%70% 68% 66% 64%
61%
77%
69% 67% 65%60% 59%
55%
82%79%
73% 71% 72%68% 66%
My company has a strong sense of
purpose
My company remains true to its
purpose when making strategic
choices
My company’s purpose is clearly conveyed to all
employees
My company has a purpose beyond financial success
I could easily explain how my
company sets out to achieve its
purpose
My company has a culture that
promotes idea sharing, risk taking
and innovation
My company’s purpose is part of the reason I chose
to work here
Global Developed markets Emerging markets% AGREE
23 The 2015 Deloitte Millennial Survey
Q. Thinking about the company or organization you work for, to what extent would you agree or disagree with the following statements? Base: All respondents=7,806; Strong sense=6,215; Lacking strong sense=1,405
Purpose strongly linked to business performance and employee satisfaction
69%57% 63%
41%
23%
48%
Has performed well financially (past year)
High level of employee satisfaction
A lot of people have joined (past year)
Strong sense of Purpose
Lacking strong sense of Purpose
24 The 2015 Deloitte Millennial Survey
The ‘Connected’ Millennials
We identified a group of relatively ‘highly connected’ and relatively ‘unconnected’ Millennials by analysing their use of social media. How often do they:
A: Use social media among friends, family, etc.
B: Use social media for work-related activities
C: Use their own businesses’ ‘social tools’ or networking applications (e.g., for collaborating with colleagues, keeping in touch with clients, etc.)
Each question is answered on a five point scale from 5 “All of the time” to 1 “Not at all/ never”: meaning that across the three questions a respondent could score a maximum of 15 points and a minimum of 3. We then looked at the distribution of scores and defined the ‘highly connected‘ Millennials as those with a score of at least one standard deviation above the average; the ‘unconnected’ Millennials are those with a score at least one standard deviation below the average. This analysis was conducted at the market level so as to identify Millennials who are ‘highly connected‘/‘unconnected’ in relation to average social media usage in their own country.
Analysis of the responses of the ‘highly connected’ Millennials follows.
DEFINITION
25 The 2015 Deloitte Millennial Survey
*Those making relatively highest use of social media in personal and working lives. Base: Most connected=1,569
Focus on the ‘Connected’ Millennials*
47%Purpose of business is
to ‘improve society/protect the environment’
77%My company’s purpose
is part of the reason I chose to work here
83%Businesses have a positive impact
54%Optimistic about
economic conditions
38%Business having
positive impact on ‘society/environment’
26 The 2015 Deloitte Millennial Survey
Q. Thinking about businesses around the world, would you agree or disagree that, on balance, the following statements describe their current behavior? Base: All respondents=7,806; Most connected=1,569; Least connected=1,230
The ‘Connected’ Millennials far more positive about business’s motivations and ethics
All Most connected Least connected% AGREE
75%74% 72%
64%64%
77%
49% 50%
40%
44%
0%
10%
20%
30%
40%
50%
60%
70%
80%
They focus on their ownagenda rather than
considering the widersociety
They take a strongleadership position on
issues that impact widersociety
They show strongerleadership than
governments on importantsocial issues
Their leaders arecommitted to helping to
improve society
They behave in an ethicalmanner
27 The 2015 Deloitte Millennial Survey
Leadership:Characteristics and behavior
27 The 2015 Deloitte Millennial Survey
28 The 2015 Deloitte Millennial Survey
Millennials define leadership in new and broader terms: The 4 Ps: People, ‘Products’, Profits and Purpose
Q. How would you define an “organization that leads?” What three things are most important when you are deciding if an organization can be considered a “leader”? What would be the most important thing, the second most important and which is third? Base: All respondents=7,806; Men=3,766; Women=4,040
4% 4% 4%
4% 4% 5%
5% 5% 5%
3% 6% 6%
4% 6% 7%
5% 6% 7%
9% 8% 7%
11% 10% 11%
12% 13% 11%
13% 11% 11%
14% 12% 11%
12% 15% 15% 38% 46%
35% 37%
34% 35%
38% 33%
28% 33%
24% 22%
19% 15%
18% 17%
15% 14%
16% 12%
12% 12%
13% 12%
Most important 2nd 3rd
Its treatment of employees (e.g.: pay & benefits, development & training programs, etc.)
Overall impact on society
Financial success/sales/profits
Creating innovative products or services
Beyond financial success, has a well-defined and meaningful purpose that it is true to
Sets the standards that others follow
Improving/protecting the environment
Collaborating with other organizations to move their sector forward
Deals fairly with its suppliers while ensuring they also behave in an ethical way
Size/scope of operations
Charitable/community outreach activity
Profile/behaviour of its senior people
29 The 2015 Deloitte Millennial Survey
Summary: ‘Leadership gap’
-29%Employees’ well-being/development
-11%Wider society/ suppliers
+26%Short-term finance/income
-4%Business performance
Leadership team Millennials Gap (Millennials’ priority)
17%
37%
Employee'swell-being
18%
32%
Employee'sgrowth &
development
18%
27%
Making positivecontribution to
local communities/society
39%
43%
Ensuring long-term future oforganization
23%
26%
Developing new/innovative
products &services
9%11%
Dealing fairlywith suppliers/ensuring their
ethical behaviour
23% 22%
Investing ingrowth/driving
business initiatives
31%
28%
Making positiveimpact oncustomers
39%
33%
Improvingefficiency/
productivity
27%
10%
Meeting short-term financial
goals
30%
12%
Own personalincome/rewards
20% 14% 9% 4% 3% 2% -1% -3% -6% -17% -18%
Q. What do you think the senior leadership team in your organization currently has as its main priorities? (CHOOSE UP TO THREE)Q. If you were leader of your organization, what would be your main priorities? (CHOOSE UP TO THREE) Base: All respondents=7,806
The ‘Leadership gap’: Millennials would focus on people, while in their view, today´s leaders focus on profit and personal reward
30 The 2015 Deloitte Millennial Survey
The ‘Leadership gap’: Generally women have a larger ‘gap’ on all aspects
Q. What do you think the senior leadership team in your organization currently has as its main priorities? (CHOOSE UP TO THREE)Q. If you were leader of your organization, what would be your main priorities? (CHOOSE UP TO THREE) Base: All respondents=7,806; Men=3,766; Women=4,040
20% 14% 9% 4% 3% 2%
-1%
17% 12% 9% 4% 5% 0% 0%21% 17% 11% 3% 3% 3%
Employees’well-being
Employees’growth &
development
Making positivecontribution to
local communities/
society
Ensuring long-term future oforganization
Developing new/innovative
products &services
Dealing fairlywith suppliers/ensuring their
ethical behaviour
Investing in growth/business initiatives
Making positivecustomer impact
Improving efficiency/ productivity
Meeting short-term
financial goals
Own personal income/rewards
Men gap Women gapOverall gap (Millennials' priority)
-3% -6% -17% -18%-4% -6% -15% -15%-2% -2% -6% -19% -19%
Millennials’ priorities Leadership team’s priorities
31 The 2015 Deloitte Millennial Survey
The ‘Connected’ Millennials less cynical over their leaders’ behavior
Q. What do you think the senior leadership team in your organization currently has as its main priorities? (CHOOSE UP TO THREE) Base: All respondents=7,806; Most connected=1,569; Least connected=1,230
% AGREE
All Most connected Least connected
21%
27%
37%
25%
41%
15% 18%
27%
36%
51%
0%
10%
20%
30%
40%
50%
Employees' well-being Developing new andinnovative products and
services
ANY: Employees’ well-being/development
Their own personalincome/rewards
ANY: Short-term financialgoals/own income
17%
23%
31%
30%
46%
32 The 2015 Deloitte Millennial Survey
Leading organizations: Found in TMT, Food & Beverages and Finance
Q. Based on the things you consider important, which businesses do you currently regard as showing the strongest “leadership”? (MULTIPLE ANSWERS ALLOWED) Base: All respondents=7,806
33%
10%
8%
6%
6%
6%
5%
3%
2%
2%
2%
1%
1%
1%
1%
Technology/Telecomms/Electronics
Food/Beverages
Banking/Financial Services
Automotive
Retail
Oil/Gas/Energy
Industry/Manufacturing
Consumer goods
Pharmaceutical/Healthcare
Public sector/Service
Cosmetics/Household
Airlines
Charities/Not-For-Profit
Clothing/Apparel/Sportswear
Professional services/Consultancy
33 The 2015 Deloitte Millennial Survey
Individuals as leaders
Q. Thinking about individuals and in a business context, how do you define a true leader? Base: All respondents=7,806
Inter-personal skills
34%Strategic thinker
39% Decisive
30%
Inspirational
37%
Visibility 19%, Well networked 17%, Advanced technical skills 17%, Ensures positive impact on society 15%, Driven by financial results 10%, Autocratic 6%
Passionate
30%
Visionary
31%
LESS VALUE PLACED ON:
34 The 2015 Deloitte Millennial Survey
For Millennials, leaders combine strategic vision with passion, enthusiasm and personability
Q. Thinking about individuals and in a business context, how do you define a true leader? Base: All respondents=7,806; Developed=3,411; Emerging=4,395
35%
35%
34%
28%
32%
31%
27%
29%
22%
21%
17%
23%
19%
20%
19%
19%
13%
9%
5%
43%
39%
33%
34%
29%
29%
28%
26%
26%
27%
25%
19%
21%
19%
16%
16%
17%
11%
6%
Strategic thinker
Inspirational
Inter-personal skills
Visionary
Passionate/enthusiastic
Decisive
Supports new ideas
Charismatic
Driven by developing employees
Strong business ethics
A democratic approach
Good presenter/speaker
Has market foresight
Visibility
Well networked
Advanced technical skills
Ensures positive impact on society
Driven by financial results
An autocratic approach Developed markets Emerging markets
Russia 38%, China 35%
Connected Millennials 29%
South Korea 36%
Japan 30%
Germany 47%, Switzerland 41%
Russia 28%
35 The 2015 Deloitte Millennial Survey
Strategic thinker
Inspirational
Inter-personal skills
Visionary
Passionate/enthusiastic
Decisive
Supports new ideas
Charismatic
Driven by developing employees
Strong business ethics
A democratic approach
Good presenter/speaker
Has market foresight
Visibility
Well networked
Advanced technical skills
Ensures positive impact on society
Driven by financial results
An autocratic approach Men Women
39%
36%
31%
34%
28%
31%
26%
30%
22%
23%
19%
21%
20%
18%
19%
19%
13%
11%
7%
39%
38%
37%
29%
32%
29%
30%
25%
27%
25%
25%
20%
19%
21%
16%
15%
18%
10%
5%
Difference of 5% or more
Q. Thinking about individuals and in a business context, how do you define a true leader? Base: All respondents=7,806; Men=3,766; Women=4,040
Women more strongly connect leadership with personability, employee and social impact; for men vision and charisma are relatively ‘more important’
36 The 2015 Deloitte Millennial Survey
Sectors:Appeal; impact on society, personal and financial well-being
36 The 2015 Deloitte Millennial Survey
37 The 2015 Deloitte Millennial Survey
Large global businesses have less appeal for Millennials in Developed markets, who are also less inclined to start their own business
Q. If you were to move jobs, what type of organization would be most appealing? Base: All respondents=7,806; Developed markets=3,411; Emerging markets=4,395
44%
22%
17%
8%
6%
35% 32%
11% 11%
6%
51%
14%
22%
5%6%
A large-scale, well-established global
business
A medium-sized,less well-known
business
Your own start-upbusiness
A small and recentstart-up
Work freelance/self-employed
consultant
Global Developed markets Emerging markets
‘LARGE SCALE, WELL-ESTABLISHED GLOBAL BUSINESS’ APPEALING FOR:
46%Ambitious
52%Most
connected
49%Believe economy
will improve
38 The 2015 Deloitte Millennial Survey
Q. If somebody was just leaving university and wanted to enter a sector that will equip them with the skills businesses will most value in the next 5–10 years. Which sectors should they choose?Base: All respondents=7,806; Developed markets=3,411; Emerging markets=4,395
TMT Financial Services
42%
39%
45%
33%32%
33%32% 32% 32%
29% 30%28%
23%
26%
20%
23%
27%
17%19%
16%
22%
16%
13%
18%
13%15%
17%
11% 10%
13%
10% 10% 11%
Professional Services/
Consultancy
Energy and
resources
Life Sciences and
Healthcare
Consumer Products/ Services
Public Sector
Manufacturing Travel, Hospitality,and Leisure
Retail Transport/ Distribution
Global Developed markets Emerging markets
Nearly half in Emerging markets feel the TMT sector will provide skills of most value in next 5–10 years
39 The 2015 Deloitte Millennial Survey
Q. If somebody was just leaving university and wanted to enter a sector that will equip them with the skills businesses will most value in the next 5–10 years. Which sectors should they choose?How desirable to you is working in the following sectors? And which of these would be your Number 1 choice as a sector in which to work? Base: All respondents=7,806
42%
19%
46%
33%35%
11%
32%
39%
12%
29%
36%
8%
23%
34%
23%
5%
19%
16%
22%
15%
11%
20%
10%11%
29%
38%
12%
5%
38%
11%
4%
20%
3%
Advice to graduates Desirable #1 choice
TMT Financial Services
Professional Services/
Consultancy
Energy and
resources
Life Sciences and
Healthcare
Consumer Products/ Services
Public Sector
Manufacturing Travel, Hospitality,and Leisure
Retail Transport/ Distribution
TMT considered the most useful and most desirable sector, manufacturing, retail and transport failing to entice Millennials
40 The 2015 Deloitte Millennial Survey
Q. And which of these would be your Number 1 choice as a sector in which to work? Base: All respondents=7,806; Male=3,766; Female=4,040
15%
8%
TMT (Technology, Media and Telecoms)
24%
13%
19%Global
Travel, Hospitality,and Leisure
Life Sciences and Healthcare
15%
8%
Energy &Resources
11%
6%
11%Global
11%Global
8%Global
Men twice as likely as women to name TMT as their “Number 1 sector”
41 The 2015 Deloitte Millennial Survey
Q. Which sectors give people the greatest opportunity to make a positive impact on the wider society; develop as an individual; increase their income/wealth? Base: All respondents=7,806
TMT Financial Services
Wider society Develop as an individual
Professional Services/
Consultancy
Energy and
resources
Life Sciences and
Healthcare
Consumer Products/ Services
Public Sector
Manufacturing Travel, Hospitality,and Leisure
Retail Transport/ Distribution
15%
12%11%
Increase their income/wealth
15%
14%14% 14%
9%
9%
17%
21%
13%
50%
27%
18%
40%38%
22%
17%
20%
23%
34%
31%
29%
17%
22%
32%28%
20%
35%
19%
28%
42%
Opportunity to ‘improve society’ greatest in Life Sciences, personal reward from Financial Services and individual development from Professional Services‘IMPACT OF SECTORS’ (ALL MARKETS)
42 The 2015 Deloitte Millennial Survey
Q. Why do say ... is the sector you would most like to work in? Base: All respondents=7,806
21%I like it/have an interest in it
9%Pay/money
8%I like to help people/do good for society
8%Good opportunities/
career growth
19%I have experience in this field/I know it
Personal interest and experience ‘driving’ choice of preferred sector; fewer than one in ten Millennials cite financial reward
43 The 2015 Deloitte Millennial Survey
Social Media & Technology:Use and attitudes
43 The 2015 Deloitte Millennial Survey
44 The 2015 Deloitte Millennial Survey
Q. To what extent do you use or undertake the following? Base: All respondents=7,806; U.S. and Canada=600; Latin America=1,725; Western Europe=2,211; SE Asia (exc. China & Japan)=1,219; BRICs=1,215. Note: Showing those who said ‘All of the time’ & ‘A lot of the time’
Millennials in LATAM/BRICs making most use of social media/tools for business
50%64%59%
43%54%
40%
46%62%55%
29%
52%
34%
32%34%
46%
26%
33%
27%
24%25%
36%20%25%
19%
21%18%
26%
16%
30%
14%
Global Latin America BRICs Western Europe USA/Canada SE Asia (exc. China & Japan)
76%88%78%74%70%71%Use social media among friends, family etc.
Use social media for work-related activities
Use your own business’ social tools or networking applications
Make video calls to stay in touch with friends/family
Use video-conferencing while at work
Develop mobile apps outside of work
45 The 2015 Deloitte Millennial Survey
Q. To what extent do you use or undertake the following? Base: All respondents=7,806; Ambitious will move around=832; Ambitious and loyal=515; Just comfortable/move around=941; Just comfortable/loyal=652. Note: Showing those who said ‘All of the time’ & ‘A lot of the time’
Those ambitious to attain a senior position making most use of social media/tools (especially those who are prepared to change employer)
Overall
Ambitious will move around
Ambitious and loyal
Just comfortable/move around
Just comfortable/loyal
76%80%72%74%68%Use social media among friends, family etc.
50%58%51%25%34%
Use social media for work-related activities
46%52%49%23%30%
Use your own business’ social tools or networking applications
24%29%25%8%9%
Use video-conferencing while at work
46 The 2015 Deloitte Millennial Survey
Ambition and skills
46 The 2015 Deloitte Millennial Survey
47 The 2015 Deloitte Millennial Survey
Q. To what extent do you feel your organization is making the most of the skills and experience that you are able to offer? Base: All respondents=7,806
Fewer than three in ten Millennials believe their organization makes “full use” of their skills
1%Don’t know
6%Not using my skills and experience at all
24%Only using a fraction
40%Makes good but not full use
28%Makes full use of my skills and experience
Skills “fully used”Highest Lowest
63%Philippines
58%India
54%Indonesia
37%China
37%Malaysia/Thailand/Singapore
32%Emergingmarkets
34%TMT
32%Businesses with a Purpose
44%“Most connected”
41%Businesses with high employee satisfaction
9%Japan
23%Public Sector
15%Turkey
17%South Korea
19%Chile
21%Belgium/France/Italy/Spain/UK
23%Developedmarkets
12%No senseof purpose
15%Businesses with low employee satisfaction
17%“Least connected”
48 The 2015 Deloitte Millennial Survey
Q. Do you think that in your current organization you will be able to learn the skills and gain the experience that allows you to fully meet you career ambitions? Or do you think you will need to work in other organizations to get these skills/experiences? Base: All respondents=7,806
…but most Millennials feel they have or can get the experience/ skills they need from their current organization
43%Will need to work elsewhere
5%Already have all I need to
fulfill my ambitions
47%Can gain skills/experience from current organization
Will need to work elsewhere
Highest
61%Peru
64%Business lacks sense of purpose
60%SouthKorea
53%Chile
51%Switzerland
60%Businesses with low employee satisfaction
56%Poor financialperformance
49 The 2015 Deloitte Millennial Survey
Q. On balance how useful have the skills you gained in higher education been; compared to those learned in jobs you have had since graduation? Please think of all skills (both ‘harder’ technical skills and ‘softer’ management/people skills) and distribute 100 points for each objective depending on how useful you think skills gained in higher education have been compared to skills gained from employment. Base: All respondents=7,806
Skills gained in higher education ‘contribute a third of those required’ to achieve organizational goals
37%
In achieving the overall goals of the organization
63%
40%
60%
42%
58%
In fulfilling day to day roles and responsibilities
In fulfilling long term career objectives
Higher education Employment
50 The 2015 Deloitte Millennial Survey
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Base: All respondents=7,806; Male=3,766; Female=4,040
Millennials feel they were stronger on ‘softer’ rather than ‘technical’ skills at graduation. Men believing more than women in their analytical, IT and leadership skills
Professionalism: time-keeping,hard work, discipline
Academic knowledge/intellectual ability/skills specific to course of study
37%
37%
45%
34% 43%
34% 43%Flexibility, team working,working with others
32% 40%
38% 33%
Personal traits e.g., patience,maturity, integrity
Analytical skills
30% 30%Ability to think creatively and
generate new ideas
24% 31%Communication skillse.g., assertiveness, negotiating
Knowledge of IT and Technology 30% 19%
27% 21%Leadership
18% 16%Ability to challenge ordisrupt current thinking
18% 14%Financial, economic
16% 16%General business knowledge,
work experience
16% 15%Knowledge specificideas/techniques
15% 14%Being entrepreneurial/creating opportunities
13% 11%Sales & Marketing
Men Women
Difference of 5% or more
51 The 2015 Deloitte Millennial Survey
‘Gender gap’ on Leadership skills: Country specific, not linked to level of ‘development’
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Base: All respondents=7,806
9%
4%
1%
0%
-1%
-3%
-5%
-6%
-7%
-9%
-10%
-11%
-12%
-13%
-19%
-20%
SE Asia: Malaysia/Singapore/ThailandBrazilUSA, ChinaUK, Australia, ColombiaCanada, ChileIndia, ArgentinaEmerging markets, Russia, NetherlandsGlobal, IndonesiaDeveloped markets, The Philippines, SpainBelgiumTurkey, FranceJapan, MexicoSwitzerland, South AfricaSouth Korea, GermanyItalyPeru
Differences between women and men reporting “Strong leadership skills” at graduation
52 The 2015 Deloitte Millennial Survey
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Base: All respondents=7,806; Least connected=1,230; Most connected=1,569
‘Connected’ Millennials regard themselves to have stronger leadership and entrepreneurial skills; less so than academic knowledge, professionalism or analytics
Leadership Least connected millennials
Most connected millennials
Sales & Marketing
16%32%
8%17%
11%19%
24%29%
23%27%
13%17%
27%31%
15%17%
15%17%
17%19%
36%36%
37%32%
38%31%
45%37%
43%34%
Being entrepreneurial/creating opportunities
Communication skillse.g., assertiveness, negotiating
Knowledge of ITand Technology
General business knowledge,work experience
Ability to think creatively andgenerate new ideas
Knowledge of specificideas or techniques
Financial, economic
Ability to challenge ordisrupt current thinking
Flexibility, team working,working with others
Analytical skills
Personal traits e.g., patience,maturity, integrity
Professionalism: time-keeping,hard work, discipline
Academic knowledge/intellectual ability/course specific skills
53 The 2015 Deloitte Millennial Survey
‘Leadership crisis’ in developed markets: Far fewer Millennials believe they graduated with strong leadership skills.
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Base: All respondents=7,806; Developed markets=3,411; Emerging markets=4,395
10%12%
13%15%
17%17%17%
18%18%
19%19%
20%20%
22%23%
24%24%
25%25%
28%28%
29%30%30%30%
32%37%37%
38%38%
FranceJapan
BelgiumUK
ChinaGermany
RussiaSwitzerland
Developed marketsAustralia
South KoreaItaly
NetherlandsCanada
South AfricaSpain
GlobalChile
SE Asia: Malay./Sing./Thai.U.S.
Emerging marketsTurkey
ArgentinaIndonesia
The PhilippinesColombia
MexicoPeru
BrazilIndia
Creative thinking
25% vs. 30%Communications skills
21% vs. 27%IT/Technology skills
11% vs. 18%Being entrepreneurial/ creating opportunities
26% vs. 33%
DEVELOPED MARKET GRADUATES GIVE LOWER SELF-RATING ON:
PERCENTAGE SAYING ‘LEADERSHIP’ AMONG THEIR STRONGEST ATTRIBUTES
54 The 2015 Deloitte Millennial Survey
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Which skills and attributes would you say are currently of most use in your current role? Base: All respondents=7,806
The ‘Graduation gap’: Graduates generally bring the skills they need to call upon, but a little lacking on ‘softer’ interpersonal aspects
39%
- -1%
0%
Academic knowledge
Ability to challenge/
disrupt
Entre-preneurial
Leadership Profession-alism
e.g., time-keeping
Sales & Marketing
Most use in current role Strongest on graduation Gap
Specific ideas or
techniques
Flexibility, team
working
Personal traits e.g., integrity
IT & Technology
Financial,economic
-15% -4% -2% -2% -1% 2% 6% 9%
Think creatively
24%
11%
15% 15%17%
28%
30%
33%35%
Analytical skills
-2%
13%14%
16% 16%
24% 24%
27%25%
43%41%
2%0% 0% 3%
39%36%
16%
12%
4%
44%
38%
General business
knowledge
Commun-ication
skills
24%
16%
8%
36%
27%
55 The 2015 Deloitte Millennial Survey
Q. Which skills and attributes would you say are currently of most use in your current role? Which skills and attributes do you feel businesses place the most value on and are currently prepared to pay the higher salaries for? Base: All respondents=7,806
The ‘Value gap’: Millennials ‘need’ to develop leadership, sales and entrepreneurial skills if they’re to be better valued by businesses
19%
- -1%
0%
Personal traits e.g., integrity
Ability to challenge/
disrupt
Entre-preneurial
LeadershipProfession-alism
e.g., time-keeping
Sales & Marketing
Most use in current role Valued by business/Will pay for Gap
Specific ideas or
techniques
Flexibility, team
working
IT & Technology
Financial,economic
-20% -17% -10% -7% -1% 4% 11% 15%
Think creatively
39%
44%
27%
43%
33% 33%
26%
36%
31%
Analytical skills
-5%
27%
5%0% 1% 6% 9%
General business
knowledge
Commun-ication
skills
11%
26%
15%15%
24%25% 24%
28% 28%
33%
11%
17% 16%
25%
13%
24%
16%
27%24%
39%
Academic knowledge
56 The 2015 Deloitte Millennial Survey
Q. Which skills and attributes do you feel businesses place the most value on and are currently prepared to pay the higher salaries for? If you were head of a large business and wanted to ensure its long term success, which would you focus on when hiring new employees? Base: All respondents=7,806
The ‘Hiring gap’: Millennials would hire more on personal attributes than business development or leadership skills
18%
- -1%
0%
Personal traits e.g., integrity
Ability to challenge/
disrupt
Entre-preneurial
Leadership Profession-alism
e.g., time-keeping
Sales & Marketing
Valued by business/Will pay for Millennials’ focus for long-term success Gap
Specific ideas or
techniques
Flexibility, team
working
IT & Technology
Financial,economic
-9% -9% -7% -4% -2% 4% 16% 19%
Think creatively
27%25%
16%
32%
22%
26%
31%
Analytical skills
-4%
27%
6%1% 2% 7% 11%
General business
knowledge
Commun-ication
skills
18%
26%
15%
24% 25%22%
28%
33%
19%17%
13%
27%
Academic knowledge
39%
25% 26%
30%
37%
44%
33%
49%
45%
38%
Those ambitious for senior positions are more inclined to hire for “leadership” qualities (35% vs. 26%). Those merely wishing to be comfortable would look to “Professionalism (57% vs. 48%), “Flexibility/team working” (51% vs. 45%) and to “Personal qualities” (45% vs. 34%)
57 The 2015 Deloitte Millennial Survey
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Which skills and attributes do you feel businesses place the most value on and are currently prepared to pay the higher salaries for? Base: All respondents=7,806
The ‘Reality gap’: ‘Supply’ of leadership and other core business skills behind perceived level of employer ‘demand’
0%
Personal traits e.g., integrity
Ability to challenge/
disrupt
Entre-preneurial
Leadership Profession-alism
e.g., time-keeping
Sales & Marketing
Valued by business/Will pay for Strongest on graduation Gap
Specific ideas or
techniques
Flexibility, team
working
IT & Technology
Financial,economic
-15% -15% -12% -10% -4% 11% 17%
Think creatively
16%
31%
Analytical skills
-9%
27%
2% 8% 9%
General business
knowledge
Commun-ication
skills
14%
26%
15%
24% 25%
28%
33%
17%
12%
27%
Academic knowledge
30%
35%
39%
14%
24% 25%
16%15%
17%
33%
26% 27%
38%39%
36%
19%
25%
-3% -2% -1%
41%
58 The 2015 Deloitte Millennial Survey
‘Reality gap’ for Leadership widest in Western Europe
Q. Of the following skills and attributes, which do you feel were your strongest when you finished higher education? Q. Which skills and attributes do you feel businesses place the most value on and are currently prepared to pay the higher salaries for? Base: All respondents=7,806
33%32%
25%24%
22%21%21%
20%20%20%
18%17%17%
16%15%
14%13%
12%12%12%
11%11%11%
10%8%8%
6%5%
4%1%
BelgiumUK
ChileNetherlands
GermanyAustralia
South AfricaSwitzerland
Developed marketsCanada
ItalyBrazilJapan
FranceGlobal
U.S.Argentina
SE Asia: Malay./Sing./Thai.Emerging markets
MexicoChina
South KoreaPeru
The PhilippinesColombia
RussiaSpain
TurkeyIndia
Indonesia
DIFFERENCE BETWEEN ‘VALUED BY BUSINESS’ AND ‘STRONG ATTRIBUTE ON GRADUATION’
59 The 2015 Deloitte Millennial Survey
Q. Which of the following are you hoping to do or achieve during your working life?—Become the leader/most senior executive within my current organization, Get to a senior position in my current organization, but not Number 1. Base: All respondents=7,806
Millennials in Developed markets less interested in senior positions (with strong gender differences)
59%
47%
53%Global
70%65%
62%45%
38%
Become leader/#1 in current organization
65%
37%
64%
57%
73%70%
57%
54%65%
65%54%
Asia
BRICs
Developed markets
Emergingmarkets
Latin America
North America
Western Europe
Get to a senior position in current organization
Hope to achieve
Hope to acheive
Hope to achieve Hope to achieve
Hope to achieve
Global: 53% Global: 60%
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