Deloitte’s Millennial Survey 2017: Accountability and Influence

Deloitte has posted the results of their sixth annual Millennial Survey this year revealing less optimism and more apprehension.  As a result of a tumultuous political season last year and economic disruption including Brexit, millennials are less ambitious in bailing on current employers.  Instead they are seeking stability in what seems like a time of uncertainty.

Despite the obvious downturn of the 2017 survey results from those of 2016, the desire for millennials to work for a socially responsible organization has anything but diminished.  Their outlook on the current state of social impact among businesses is favorable. However, there is a desire for larger, multinational organizations to make more of an impact on social issues on a global level.

Many millennials feel accountability for the issues in the world around them.  Given that it may not be feasible for the average individual to make a global impact, employees seek to make an impact through their employers. Employer sponsored CSR initiatives including corporate volunteering, community outreach events, and charitable donations give employees the feeling of empowerment and influence.  These opportunities allow millennials, and any other socially conscious employees, to make tangible impacts locally.

According to the 2017 the survey administered by Deloitte, 59% of millennials believe they are at least fairly responsible for protecting the environment.  However they are realistic in the scope of their impact with only 38% of millennials believing they will have a significant level of influence on the world around them.  Overall, 77% of the participants have engaged in some charitable activity from fundraising to volunteering.

Millennials appear to have a preference to work for organizations that are socially responsible with respect to the world around them including the community and the environment. Although they are aware of their limitations of impact, millennials seek out opportunities to contribute to a good cause through their employers.  It is in the workplace that millennials feel they are the most accountable and can have the most influence.

 

 

 

CSR Initiatives Attract Top Talent

Competition is thicker than ever when it comes to the job market.  More and more candidates have advanced degrees and certifications that would, in the past, provide an advantage in the hiring procesimagess.  This leads one to believe that the job market has turned into a seller’s market over the years, where quality job seekers come a dime a dozen and employers have their pick.  While this may be the case for the average job seekers simply looking to get their foot in the door.  This is not the case for top talent with their own set of requirements they expect from an employer.

Top talent, especially those that are millennials, demand to work for innovative organizations that have more to offer than a decent benefits package and a competitive salary. Many want to work for a company that is socially responsible and focused on engagement of their employees.

Surveys administered from Gallup , Deloitte, and Net Impact, to name a few, show that job seekers and current employees prefer to work for organizations that are committed to CSR. They want the organization they work for to share their personal values and make a sociological-environmental impact.

Therefore, in order to attract top talent, many companies have changed their brand strategies while ramping up CSR initiatives. Sustainability and corporate social responsibility are not new philosophies in business.  That is why the focus now is not on whether or not a firm has a CSR initiative, as most companies do.  It is the extent to which the organization incorporates CSR in their framework and the sincerity of the programs that attract top talent.