Gen Z & millennials seek balance, security & AI skills at work

Deloitte's 2025 Gen Z and Millennial Survey has found that younger generations in New Zealand and globally are experiencing shifts in workplace priorities, technology use, and attitudes towards financial security and career development.

The survey, which gathered responses from more than 23,000 individuals across 44 countries, shows that Gen Z and millennials are increasingly seeking a balance of financial reward, personal fulfilment, and well-being in their professional lives. According to the study, these groups are expected to make up 74% of the global workforce by 2030.

Lauren Foster, Partner at Deloitte New Zealand, said: "Instead of chasing corner offices, Gen Z and millennial workforces are looking for careers that pay fairly, align with their values and support their well-being. This shift presents a challenge for employers to rethink what leadership pathways look like and how they can support purpose-driven growth at work."

Findings from the New Zealand snapshot of the survey indicate that financial security remains a significant concern. Sixty-four percent of Gen Zs and 56% of millennials in New Zealand report living paycheck-to-paycheck. About half—47% of Gen Zs and 53% of millennials—said they worry they will not be able to retire with financial comfort.

In terms of work-related stress, 47% of Gen Zs and 45% of millennials in New Zealand said they feel stressed or anxious all or most of the time, with almost a third (31% Gen Zs and 29% millennials) identifying their jobs as a contributing factor to these feelings. Foster said: "Continued financial pressures and workplace stress are taking a toll on Gen Z and millennial workers. Many are feeling stretched, both economically and emotionally, but they're also driving a shift in what they expect from employers. They're looking for workplaces that actively support wellbeing, offer flexibility, and create a culture where people can thrive – not just survive."

The report highlights the growing role of Generative AI (GenAI) at work. Usage is on the rise globally, with 74% of Gen Zs and 77% of millennials expecting GenAI to impact their work in the next year. In New Zealand, 36% of Gen Zs and 48% of millennials are already using GenAI in their everyday roles.

Respondents using GenAI report perceived improvements in work quality and work/life balance. Despite these positives, more than six in ten express concern that GenAI could eliminate jobs, and many are seeking roles they see as safe from technology-driven disruption. The survey indicates a strong demand for ongoing training, with many respondents prioritising the development of both technical and soft skills.

Globally, over 80% of Gen Z and millennial respondents believe that soft skills such as empathy and leadership are more important for career advancement than technical skills alone. Foster said: "Gen Zs and millennials are adopting generative AI tools at work and acknowledge the benefits of doing so. However, there's an undercurrent of concern too. They are enjoying the potential of these tools but wary of what they could mean for their own job security and the human side of work."

The survey also explores changing attitudes towards education and leadership aspirations. Only 6% of Gen Zs globally cited reaching a senior leadership position as a primary career goal, though opportunities for learning and development remain among the top reasons for choosing an employer. In New Zealand, the expectation gap between what young workers want from managers and what they experience remains significant. While 57% of New Zealand Gen Zs and 62% of millennials want their managers to mentor them, only 44% of Gen Zs and 38% of millennials say this actually happens.

Attitudes towards higher education are also evolving. Thirty percent of Gen Zs and 37% of millennials in New Zealand chose not to pursue higher education, compared to 31% of Gen Zs and 32% of millennials globally. The cost of tuition was the main concern for New Zealand respondents, with Foster noting: "More young people are questioning the value of traditional higher education, especially as the cost of living rises. The New Zealand snapshot shows the cost of tuition is the main concern for Gen Zs and millennials when it comes to the higher education system – and more so than what was seen globally. Fifty-seven percent of Gen Zs and 49% of millennials in New Zealand were concerned about the cost of tuition compared to 40% of Gen Zs and 38% of millennials globally."

Purpose in work was identified as highly significant, with roughly nine in ten Gen Zs and millennials globally stating that a sense of purpose is important to their job satisfaction and well-being. While some define purpose as making a positive social impact, others focus on earning money, maintaining work/life balance, or acquiring new skills that enable contributions outside of work.

The survey was based on online responses from 510 New Zealanders alongside the global sample, capturing the perspectives of 302 Gen Zs and 208 millennials living and working in New Zealand between October and December 2024.