A recent Deloitte study finds that Gen Z and millennial workers still want to climb the corporate ladder, just not in the way their predecessors did.
The survey drew on 22,595 respondents across 44 countries, between 2025 and 2026. Workers in these age groups will job hop, move to competitors, shift laterally for a higher title and change industries all to experience a positive culture, better work-life balance and mental health.
Why it matters: These two generations are becoming managers and parents at the same time. As digital natives, they are well-positioned to help scale AI across the organization. Yet many feel senior leaders are not invested in their development.
74% of both generations now use AI at work but roughly a third say their organization is not prepared for what AI brings. They say they are using AI faster than their company and are not rewarded for it.
By the numbers:
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76% of Gen Z and 67% of millennials want senior leadership roles, but only 6% name it as their primary career goal.
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Stress and burnout (50% of Gen Z), too much responsibility (50%), and weak work-life balance (41%) will deter some.
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What would change their minds: higher pay (53% of Gen Z, 57% of millennials), flexible work (42% and 44%), and a clearer path to the top (36% and 35%).
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Cost of living is the top concern year-over-year. Over 50% say housing affordability shapes where they will work and how long they will stay.
Purpose and connection drive retention. 96% of Gen Zs and 97% of millennials say purpose matters to job satisfaction. A close work friend moves the needle: Gen Zs and millennials both say close work relationships are what make them stay past five years.
CHRO Considerations and Potential Next Steps:
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Share a path to senior leadership. Name advancement opportunities in clear terms. Vague language is a stated barrier, so be honest about what progress looks like and how to earn it.
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Cap unsustainable workloads. Make the role about enabling teams, not absorbing every demand that lands on them. This builds well-being into the work itself.
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Task this generation with AI usage and training. Gen Z and millennial employees may be the most fluent with AI, so use their skillsets to your advantage (pilots, workflow redesign etc.).
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Design for connection. Invest in onboarding, team structure, positive culture, and protected time for relationships. Each one pays back in retention.
