Nicosia, Cyprus. Gen Z and millennials are increasingly prioritising stability, wellbeing and skills development over rapid career advancement, according to findings released by Deloitte. The survey said younger generations are redefining success in an economy shaped by financial pressures and artificial intelligence.
Survey findings
The 15th annual Gen Z and Millennial Survey, whose findings were shared locally by Deloitte Cyprus, gathered responses from more than 22,500 Gen Z and millennial participants across 44 countries and included qualitative insights from business leaders.
The findings indicated that Gen Z and millennial workers are redefining progress at work, often placing wellbeing, stability and long-term development ahead of promotions and traditional markers of success.
Response to change
Elizabeth Faber, Deloitte Global Chief People & Purpose Officer, said the study demonstrates how both generations are continuing to adapt to change while also influencing it.
“They’ve already transformed work in tangible ways and are now making deliberate choices about when and under what conditions they pursue leadership and major life decisions,” Faber said.
“This year’s findings show that these generations are adaptable, pragmatic and intentional about progress, even as economic pressure and rapid technological change raise the stakes,” she added.
Financial pressures
The report showed that the cost of living remained the leading concern for both generations for the fifth consecutive year, far exceeding other societal issues.
According to Deloitte, financial pressures are increasingly contributing to a “maybe later” mentality, with ambitions remaining intact but timelines for major milestones being pushed back.
More than half of respondents reported postponing important life decisions because of their financial circumstances.
Specifically, 55 per cent of Gen Z respondents and 52 per cent of millennials said they had delayed plans such as starting a family, continuing their education or launching a business.
