STOCK MARKET BSE NSE

'Gen Y Lack Faith in Government's Ability to Tackle Unemployment'

Published: 22nd January 2014 01:50 PM  |   Last Updated: 22nd January 2014 01:50 PM   |  A+A-

By PTI

Youngsters, who are likely to account for majority of global work force in the next decade are losing faith in governments' ability to address challenges of unemployment and income inequality, says a Deloitte survey. sa      

The survey that covered close to 8,000 millennials in 28 countries found that almost half of them feel governments' not doing enough is having a negative impact on areas identified as among the top challenges such as unemployment (47 per cent), resource scarcity (43 per cent), and income inequality (56 per cent).      

Generally those in the age group of 18-35 years are referred as millennials or Generation Y (Gen Y).      

The findings of the Deloitte Millennial survey are hardly surprising when youth unemployment runs two to four times higher than adults in most countries.     

Generation Y are likely to comprise 75 per cent of the global workforce by 2025.

People from this category want to work for organisations that foster innovative thinking, develop their skills, and make a positive contribution to society.      

"To attract and retain talent, business needs to show Millennials it is innovative and in tune with their world view," Deloitte Touche Tohmatsu Ltd (DTTL) CEO Barry Salzberg said.      

Millennials want to work for organisations that support innovation, the survey said, adding that the biggest barriers to innovation are management attitude, operational structures and procedures, and employee skills and attitudes.     

 Moreover, half of the millennials want to work for a business with ethical practices, the survey said.      

"Fostering a culture of innovation will not only help retain high-performing talent but it will also drive growth by creating opportunities for individuals to unlock the next game-changing innovations," Salzberg said.      

Most millennials (74 per cent) believe business is having a positive impact on society by generating jobs and increasing prosperity, but they think business can do much more to address society's challenges in the areas of most concern like resource scarcity, climate change and income inequality.     

Millennials believe the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society among the most important things.      

Around 63 per cent of millennials donate to charities, 43 per cent are willing to actively volunteer and 52 per cent have signed petitions.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp