Millennials have been a key focus in recent surveys on business ethics, and their influence on workplace values continues to shape discussions on ethical business practices.
Millennials have shown the most significant shift in perception regarding business ethics. Nearly 70% of millennials now believe that British businesses operate ethically, a significant increase from last year. Previously, individuals over 55 were more likely to hold this view, while only half of millennials agreed at the time.
Born between 1983 and 2004, millennials have grown up in a digital world where rapid advancements in smart technology have shaped their expectations. They have become accustomed to instant access to information and quick results, which has contributed to their reputation for valuing efficiency and immediacy. More insights can be found in our Business Ethics across the Generations briefing.
Millennials often receive criticism, but extensive research by Ipsos Mori challenges common stereotypes. Contrary to popular belief, millennial employees are not lazier, less loyal, or more distracted than previous generations. In fact, they are naturally curious, enjoy collaborative work, and are eager to develop new skills.
This generation is transforming the workplace from within and influencing external expectations. They seek employers whose values align with their own and expect businesses to play a role in social and environmental change. However, they can be skeptical about corporate motivations and ethics when they feel that business leaders prioritize profit over shared values, as highlighted in the Deloitte Millennial Survey.
Ethical values are at the core of their career choices. Research from Global Tolerance shows that 62% of millennials want to work for a company that positively impacts the world, 53% would put in more effort if they felt their work benefited others, and 50% would prefer meaningful work over a high salary.
Work-Life Balance
Work-life balance remains a priority, and many people believe businesses need to do more to support it. In response, companies are actively introducing flexible working options to attract and retain talent. While this is a concern for all employees, millennials are pushing back against a culture of constant availability and presenteeism. As digital natives, they see technology as a tool to enable remote and flexible work arrangements.
Research from Robert Walters indicates that 90% of millennials view policies supporting work-life balance as one of the best aspects of their jobs. As a result, companies that prioritize fair pay, remote work options, and flexible schedules are better positioned for long-term success. Millennials are more likely to seek out employers who embrace these values.
Discrimination and Human Rights
Millennials are looking for reassurance in uncertain times. They express concerns about political and social issues, safety, and equality. While competitive pay and a positive work culture attract them, inclusivity and flexibility are crucial to retaining them.
According to the IBE’s survey, discrimination and human rights are more significant concerns for millennials than for other generations. Another study found that 85% of female millennials consider an employer’s policies on diversity, equality, and inclusion essential when deciding where to work.
Millennials want business leaders to take an active role in making a positive impact and addressing employees’ concerns. They seek purpose in their work, making it even more important for companies to foster a culture of recognition and meaningful rewards.
However, the push for ethical business practices benefits employees of all generations. It is crucial to support millennials’ enthusiasm and commitment to ethical business practices, as their influence helps build trust and engagement across the workforce. With Generation Z now entering the workplace, companies that understand and respond to the evolving priorities of different generations will be better equipped to foster a motivated and diverse workforce in the future.
