Respondents felt that organisations in India have been more active in taking care of their employees, a sentiment which is unlike their global colleagues.
According to Deloitte’s Millennial and Gen Z 2021 survey, overall stress and anxiety levels among Indian Millennials stand at 49%—eight percent higher than the global average (41%). Meanwhile, Indian Zoomers (also known as Generation Z) feel as anxious or stressed as their global average (46%).
Millennials and Zoomers’ main stress drivers include:
- Concerns for the welfare of their family (57% and 60% respectively)
- Job/career prospects (56% and 54% respectively); and
- Long-term financial future (51% and 55% respectively).
A fewer number of both Millennials and Zoomers are concerned about their physical health or their day-to-day finances.
Be that as it may, the respondents felt that organisations in India have been more active in taking care of their employees, a sentiment which is unlike their global colleagues. In fact, only a quarter (23%) of Indian Millennials say they have not opened up to their employer regarding pandemic induced stress, compared to a majority globally (58%).
“Organisations must be cognisant that their people have gone through a lot,” said SV Nathan, Partner and Chief Talent Officer, Deloitte India.
“Even in the face of extreme uncertainty, they have tried to do their best. It’s incumbent upon us to take care of our people. We must make available every possible opportunity to promote physical and mental health, and promote a culture of courage where it’s okay to speak about stress and work towards overcoming it. Being people first will make us future-ready.”
Views on business’s social impact
Another contrasting sentiment between Indian youth and the global responses is their view on businesses.
A high number of Millennials (77%) and Zoomers (67%) in India felt businesses in their country have “a very or fairly positive impact on society”. This is much higher than the global average, where only less than half of Millennials (47%) and Zoomers (48%) felt the same.
That said, Indian Millennials and Zoomers still have certain negative perceptions of businesses. When questioned if “businesses focus on their own agenda rather than considering wider society”, they agreed respectively at 79% and 76%—almost 10% higher than their global counterparts.
Nathan explained: “Over the past year, our workplace has seen rapid transformation. Young people are resolved to improve the world and create a sense of togetherness.
“In these testing times, where every action matters, it is very important for companies to have a ‘purpose-driven’ strategy and create a positive impact.”