Romanian Millennials & Generation Z expect worsening of economic situation and socio-political context (Deloitte survey)

The evolution of the economy and the social and political situation concern the Romanians of Millennials and Generation Z, who are expecting for the worsening of the economic conditions (59% of Millennials and 49% of those of Generation Z) and of the socio-political context (55% and 45% respectively) this year, percentages increasing by at least ten points compared to last year, according to a survey conducted by Deloitte.

"These prospects lead them to be more prudent about the job, so that the share of those who want to stay in the same company for more than five years has increased in the last year from 32% to 41% in the case of Millennials and from 21% to 42% among Generation Z, while the number of those who want to leave earlier than two years has fallen from 44% to 28%, respectively from 39% to 29%," shows Deloitte Global Millennial and Gen Z Survey 2022, conducted in 46 countries around the world, including Romania.

The main concern for young Romanians is the increasing cost of daily life (51% of Millennials and 32% of Generation Z). However, young Romanians say that they can support their monthly expenses without difficulty (63% of Millennials and 57% of Generation Z). Generation Z representatives in Romania are also optimistic about retirement, with 55% confident that they will have a comfortable income at that time, while only 46% of Millennials have this conviction.

On the other hand, the study signals that the proportion of Romanians who are stressed most of the time has decreased compared to last year by ten percentage points in the case of Millennials, to 34%, and by three percentage points, to 48%, for Generation Z.

As regards the reasons behind the choice of an employer, the study mentions that it differs from one generation to another. For Millennials, the balance between work and personal life (44%) and development opportunities (37%) matters most, and those in Generation Z are more interested in salary and other financial benefits (31%) and the flexibility of working hours (28%).

Currently, Romanian Millennials work mainly in the office (66%), while 24% work in a hybrid system and only 6% at distance, and 47% of those in Generation Z operate in hybrid system, 29% in the office and 22% remotely. For the future, Millennials would prefer to work more in the hybrid system (62%) and only 22% in the office, and those in Generation Z - 67% hybrid and 12% in the office.AGERPRES