Millennials are attracted to companies that are innovative and active in helping society face such challenges as income inequality, climate change and resource scarcity, according to an annual survey by Deloitte, the financial consultancy.
Deloitte’s third annual global Millennial Survey of nearly 7,800 people born in 1983 or later found a large share of them prefer to work independently through digital means and have little enthusiasm for the traditional way businesses are organized.
“Millennials want to leave their mark on the world by working for organizations that benefit society, encourage innovation and provide them the opportunity to expand their skills,” the report says. “More than previous generations, they are ready to work independently if their needs are not being met by a traditional organization.”
Seventy-eight percent of millennials said their decision to join a company is influenced by the level of innovation at the business, the survey found
Sixty-three, however, believe the biggest barriers to innovation are attitudes among management; 61 percent believe operational structures and procedures are the biggest obstacles to innovation; 39 percent believe the biggest obstacles are employee skills, attitudes and lack of diversity.
Seventy-five percent believe their companies could do more to develop future leaders, and creativity among workers. A majority said their current employer does not greatly encourage them to think creatively.
Millennials also believe the success of a business should be measured by more than just its financial performance, but also its efforts at improving society.
Sixty-eight percent want to see businesses do more to addressing resource scarcity; 65 percent want to see more done to address climate change; 64 percent want businesses to address income equality; and 50 percent want to see more in addressing ethical issues.
Deloitte surveyed about 300 millennials in the U.S. and 27 other countries. between October and November of 2013. Participants were college graduates who had full-time jobs.