According to the 2018 edition Millennial Survey, a global survey developed by Deloitte among 10,455 youngsters from 36 countries, including Latin American countries, millennials are disappointed with traditional companies. Millennials were born between 1983 and 1994, they currently are from 24 to 35 years old, and are key for the global economy and workforce.

This is a workforce that strongly values firms’ social impact and say they are disappointed with traditional business leaders. Around 75% of survey respondents consider that companies focus on their own agendas instead of considering the whole of society. In addition, about 47% consider that these companies’ leaders are committed to help improve society. Both figures show a change of trend when compared to previous years.

The deterioration of companies’ image is also caused by disappointment, as millennials consider firms to be more capable of making changes in society. When asked about the negative and positive impact that different sectors have (economic, politics, religion, and charity), and business leaders strongly bet (44%) religious leaders (33%) and politicians (19%) on positive impact.

Even though there is a deterioration of the positive image, companies remain large employers for this generation. Their level of attraction should not be a surprise. Wages remain the first item of consideration (63% of survey respondents consider it the most important variable), followed by culture (52%), and labour flexibility (50%).

According to Deloitte, the reason is that millennials link this factor to the idea that companies should “share wealth” and improve their employees’ lives.

The ideological conflict between millennials and the structures they work for are one of the reasons for many of them to move towards more flexible jobs, which are outside the traditional corporate structure. The exponential growth of the “gig economy”.

Around 43% of millennials would consider freelance jobs instead of a full time job, and around 14% have already done it. Their main reasons are better income (62%), and freedom to arrange one’s own schedule (39%).

As regards the fourth industrial revolution, millennials do not feel they have what it takes to face it. Around 49% of millennials do not believe that employers are preparing them for the changes of the 4.0 industry. About 52% consider that the industry 4.0 will enhance their current job so they can focus on tasks with greater added value, and around 17% believe their job will be replaced.

Millennials consider that the skills that matter the most are the least technical. They prioritize interpersonal skills (36%), trust and motivation (35%), and ethics and integrity (33%).