Understanding Generation Y Globally and Locally

Monday, February 20, 2017

Generation Pessimism

We think of the younger generations having youthful idealism and optimism yet the 2017 Global Millennial Study by Deloitte shows that the 20’s and early 30-somethings are not feeling optimistic. Just 1 in 4 believes the year ahead will see an improvement politically and again a minority- only 1 in 3 believe we will see an uptick economically.

Where’s our share?

While it is little surprise that their number one concern is terrorism/political tension (56% are concerned), the second biggest concern (43%) is income inequality. There is a strong feeling amongst Generation Y (Millennials) that they are being left behind in this era of flat wages growth and massive home and living cost increases. Our recent ABS income and wealth analysis shows that Gen Y as a whole have 7% of Australia’s private wealth while they are more than twice this (15%) of the population while the older Boomers have an economic share three times that of their population share. There is a growing series of forecasts indicating that this may well be the first generation since the Great Depression which will end up behind their parents economically.

Big challenges but are they too big…

This study shows that Millennials, particularly in the developed world feel somewhat disempowered with a sense of high responsibility yet low influence to shape the challenges of the environment, social equality and direction of the country. They are key contributors to society and believe that working within the system rather than radically fighting against it in a revolutionary approach is the best way forward.

Moving on…but to full time roles

Almost 1 in 2 (48%) expect to leave their current role within 2 years while less than 1 in 3 (31%) plan on still being there in 5 years. While the gig economy sounds exciting, almost three times as many (70%) would prefer full time work than a freelance work life (25%). Yet the challenge for Australian Gen Y’s is that while unemployment is still quite low (5.7%), the workforce is trending away from full time roles. In the last year, the Australian economy has added 130,000 part time roles but lost 40,000 full time roles.

The dot com kids see the downside of tech

Millennials are more negative than positive when it comes to technology particularly regarding the impacts it is having in the workforce. While it aids productivity, economic growth and flexibility, the majority of this generation believe that it will force them to retrain (51%) and that it is making the workplace more impersonal and less human (53%).

But they are warm towards Gen Z

The new next generation (Gen Z, born since 1995) is well regarded by Gen Y with most Y’s (53%) believing that the next generation will positively transform the workplace. They also believe that Gen Z are well equipped and “futureproofed” in the workplace because of their creativity, flexibility and engaging leadership style.

WATCH MARK'S FULL INTERVIEW ON WEEKEND SUNRISE HERE

Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

outsourcing culture Australian community trends screenage university entrepreneurial pharmacies water princess charlotte visual research mentor property price education sector Social Trend kate middleton ipswich moderators guide change equip community engagement conference speaker Wagga Wagga home ownership Aussies hello fresh The Daily Edition supply and demand tuesday travel Valentine’s Day apartments System's Architect hopes media church report proactive millionth business lifestyle increasing densification Australia street baby names australia report census data monarchy career Generation X know the times marketing VET sector cost Duchess of Cambridge anzac world 1968 demographic transformations identity ideas training impact etiquette story news christianity prince george teleworking real financial dreams collaborative tableau brand Myth cica Scouts retirement FPA analysis communication workforce learning styles group session research visualisation Christmas presents the australian dream meetings qualitative research online innovative greatness trends of 2016 #censusfail cost of living marriage English ACF 2016 bureau Hills Shire Council office education TDE domestic teach national wealth Tasmania logan eliane sydney metro data Northern Beaches google for education global healthy future innovation conference SRE mccrindle research sydney event unaffordable high school keynote speaker future-proof Research Director wellbeing research data aussie culture EFF royal baby australians staying home more Sydney Hills Business Chamber priorities fresh 40 million Australian Population urban living index hills product Australian Home 24,000,000 CBD social commentary baby boomers sports friends global generations mateship sector wide Aussie case study "know the times" house fears cold Netflix organisations optus 2016 census results demographic NBRS sydneysider February 16 commute schools leadership workshop low density skills australian communities trends report growing population data analyst easter suburb sydney speaker mythbusting renting megatrends states city economic speakers pack medicine future proofing baby name predictions cancelling plans professional presenters facts NEETs research services New Zeland dream education future report social commentator new office Hornsby Shire Council society trends google train mccrindle 10 years publication affordability stay home Australia Day finance internship hornsby dare to dream consumer australian VET australian communities forum social research research report rental stress responsive futurist high density living SMSF cooking weekly earnings belief resource presentation Tuesday Trends public speaker home owner apartment video curiosity PSI Australian schools generation Z staff national crime rates urban trend tuesday Channel 7 entrepreneurs of today university degree gold coast hills shire bus Births infographic wall teacher IT Specialists DIY 2016 Love volunteer social analysis gender NSW cancelling event mortgage narcissism social impact coffee families social researcher investment Bathburst TAS Do It Yourself Kirsten Brewer vegetarian rule keeper celebration showreel study communicate census 2016 youth employment 1975 local leadership GPO aged care rain tv Australia Day 2017 shifts society mobile owning a home business index potts point wage school students research pack renter of the future survey urban living clothing Australian Communities Trends wolloomooloo waverton speaker infographic Vocational education social shifts going out professional services marrickville shopper's pick digital Northern beaches Event volunteers researcher women baby names Generation Y victoria millennials NFP event world youth day ashley mckenzie 2014 jobs of the future lalor park balance sector wide study TED gen z sydneysiders Australians statistics Population Clock property Canberra social media 1994 affordable suburbs technology christian acf15 optus my business awards office opening travelling faux-cilising the changing face of event SMART local community religion politics office space capital cities ashley fell visualisation seasons 23 million youth unemployment stats shopping panel Gen Y transport grave decision workplace culture residents conference presentation micro criminal organisational culture school easy rider quote middle class social issues communications entrepreneur holiday geomapping Deaths focus group teachers environmental scanning Australian communities trades baby names report capital city professional high density apartments the great screenage Res Vis mover and shaker 2015 graphs faux-ciliser not-for-profit community award socialising thought leadership house price forum James Ward personalities royal family work-life global financial crisis not for profit Skilling employers sun meals Australian Census ACF2017 emerging technologies rising house prices future of work tertiary education budget energy moreton bay participants Wodonga census Caregiver collaboration royal influence bondi crows nest South Australia media release work parents divorce holidays sustainable Royals faith 2016 census 24 million summer conferences entertainment housing trends education research population milestone ACF customer Adelaide Channel Seven contiki population map media commentary pharmacy sunburnt country Sydney keynote speaker World Water Day aged care puzzle pyrmont vegemite results high density slideshare JOMO Assistant Store Manager investing schools students wealth village wedding brisbane data visualisation Australian Families sector happiness insights education future survey design cultural diveristy cloudy days overcast child care Geoff Brailey culturally diverse millenials year 7 average aussie wages Kiwi Northern Territory workplace thrive population local communities growth Financial Planning Association state sydney hills purpose the hills shire neutral bay FOMO socialites brands events property market australian social research rich toys children personal growth business performance Financial Planning Week Andrew Duffin intern future of shopping trends analyst Territory careers Wellington jobs goal winter blues average sydneysider social enquiry divorce rate tips Australian demographics paying to work HSC interactive Tuesday Trend marriages McCrindle Speakers emerging generations online shopping gen alpha annual income baby boom workshop couple Melbourne TED talk networking mother's day Australian Dream ABS teaching changing face of sydney norwest Financial Planning Association of Australia consumerism 1980 wealth and income engage Australian Bureau of Statistics community event shopping centre eliane miles selfie ageing investor generation alpha Christmas season townhouses the average aussie award winner mythbusters names omnibus debt recap Research Executive resilience earnings house prices students daily commute dessert define darwin family 2017 tattoos perth communities small business ACT focus groups living future of education presentations learning deloitte urban taskforce social researchers social lives spend staying in future proof Word Up earn ACF17 WA demographics cash January 26th repayments school satisfaction long weekend census results newspaper suburban living in depth interviews educated Merry Christmas optimistic professional speaker Charlotte social change national private wealth daily telegraph baby name financial unemployment government VIC ethnography forecasting ease of travel REIV Conference trend huffington post mining boom mccrindle in the media Australian Trends debate hobart census fail cartodb population growth 2013 non profit winter salary program sentiments nfp poker master builders tea food Macquarie University post rationalism plans housing growth forecast The ABC of XYZ rent faux-cilise father's day mccrindle tea area work mates internships engagement generational trends charity brand experience ultimo REIV National Conference car weather demographer CPI 2020 media activity relevant experience Mark McCrindle safe speakers wealth and income distribution group educhat alpha social woolworths average Australian the hills manly social life house price rise New Zealand Queensland Gen X ferry royal financial independence future keynote housing affordability parenting Work place trends of 2017 Crime Rates environment Northern Beaches Christian School land of the middle class Western Australia snapshot offenders life SA grandparents year 12 language friendship blaxland market research commuters in the media spirituality buildings Sydney rise of local Education Future Forum ageing population households storytelling follow shbc sydneycity financial future trends infographics 2012 internet housing market micro apartments poor economy men baby name trends click chairty social trends new york times Real Estate wealth distribution learner goals TEDx Christmas lunch twentyseventeen litter NT emerging trends demography list leader generations crime Christchurch generation home demographic trends public speaking breakfast Engineering Manager menai relational young people cancel plans baby earning volunteering data student christmas income DESTEL public holiday Queensland: QLD authenticity housing Real Estate Institute of Victoria cultural diversity cars professional development motivate insight learn NBRS Architecture australia sunny days challenge household financial fears dreaming New South Wales typical australian young australians

Archive