德勤：危與機：新職場年輕人如何破浪前行 Crisis of Opportunity Young People Navigating the New Work Order 2024

July2024

Deloitte.

commissionedby

CrisisofOpportunity:

YoungPeopleNavigatingtheNewWorkOrder

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Acknowledgements

DeloitteAustraliaacknowledgesandthankstheWorldYMCAforcommissioningthereportwithsupportfromServiceNowandtheYAustralia.Inparticular,wewouldliketothankthefollowingfortheircontributionandstrategicinput:

WorldYMCA

YMCAisactivein12,000communitiesand120countries,employingsome90,000staffandmobilizingsome920,000

volunteers.Itreachesover60millionpeopleayear.WorkingcollectivelyunderitssharedYMCAVision2030,itimpactslivesthroughprogramsandadvocacyinfourpriorityareas:CommunityWellbeing,MeaningfulWork,SustainablePlanet,andJustWorld.Establishedin1844,theYMCAis180yearsoldin2024.

YAustralia

PartoftheglobalYMCAMovement,theYAustraliaoffersawiderangeofprogramsandservicesover680localitiesaroundAustraliathatsupportchildrenandyoungpeopleacrosstheirlifecycle,fromearlylearningprogramstomeaningfulcareerpathways,throughtorecreationandothersupportsforolderAustralians.

CarlosSanvee

SecretaryGeneral,WorldYMCA

RehanaMeraliMerchant

PillarLead,MeaningfulWork

NicoleScoble-Williams

GlobalFutureofWorkLead

JanOwenAM

ProjectSponsor

MariaCristinaSaldarriaga

GlobalProgramSupportCoordinator

CameronPitt

AustralianModernWorkLeadPartner

TalKarp

ProjectSponsor

LaurenPollock

NationalManager,YouthEcosystemandSpecialProjects

DavidRumbens

DeloitteAccessEconomicsPartner

ThankyoutotheDeloitteHumanCapitalandAccessEconomicsteamsfortheircontributions:

JacquelineSpence

AmeliaO’Dell

JacobMeacham

SophieJayatillake

MichelleShiJasperRoberts

DavidCroweKirstyMillerSophiaBars

Thankyoutotheover10,000youngpeople,from127countries,thatparticipatedintheMeaningfulWorkSurvey,andthe60+youngpeoplewhoweredirectlyconsultedaspartoffocusgroups.

Thankyoutothe90+YouthChampionsandthe85+NationalGovernmentSecretarieswhodrovethesuccessoftheMeaningfulWorkSurveyandassistedinprioritisingadiversevoiceofyoungpeoplefromacrosstheworld.

ThankyoutothemembersoftheSteeringCommitteeforYMCA'sGlobalMeaningfulWorkProject;theYMCA'sCommunityofImpactonYouthEmploymentandEntrepreneurshipandWorldYMCA'sCommunicationsteamfortheirinvaluableinput,adviceandsupport.

Thankyoutothe20+GlobalDeloittePartnersforofferingtheirexpertiseandeminencetotheMeaningfulWorkfindingsand

conclusions.

SupportedBy:

the

●

servIcenW

Deloitte

AccessEconomics

WorldYMCAandVision2030

YMCAistheoldestandoneofthelargestyouthorganisationsinthe

world.Establishedin1844,ithasgrowntoreachover65millionpeopleayearacross120countries,formingaglobalMovement.

YMCA’svisionisaworldwhereeverypersonlivesinharmonywithself,

withsocietyandwithcreation.Itsmissionistoempoweryoungpeopleandcommunitiesworldwidetobuildajust,sustainable,equitableworld.

Todriveprogresstowardsachievingitsvisionandmission,in2022,YMCAendorsedtheMovement’sfirsteversharedstrategyandplan,Vision2030.Vision2030comprisesacollectivevisionstatement,amissionstatement,andfourkey‘PillarsofImpact’andiscloselyalignedtotheUNSustainableDevelopmentGoals,whichmustalsobeachievedby2030.

Vision2030aimsto:

Inspireyoungpeopletobeandtoleadthechangetheywanttosee.

UnitetheYMCAMovementtomaximisecollectiveimpact.

HelptheYMCAMovementreachitsgoalofbeingtheworld’spartnerofchoiceasayouthempowermentorganisation.

HelptheYMCAMovementreachandcollaboratewithpartners,funders,organisations,andindividuals.

Thefourkey‘PillarsofImpact’definedinVision2030areCommunity

Wellbeing,MeaningfulWork,SustainablePlanet,andJustWorld.FurtherinformationoneachofthePillarscanbefound

here

.

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

TheMeaningfulWorkpillar

TheMeaningfulWorkpillarpledgestocreate,expand,andadvocateformeaningful,just

andequitableeducation,training,employmentandentrepreneurshipopportunitiesinthetransitiontoaneweconomicstructure.TheMeaningfulWorkpillarhasthreestrategicgoals,focusedontheYMCA,communities,andtheworld.

ThisreportfocusesspecificallyonStrategicGoal3oftheMeaningfulWorkpillar:

OurWorld:TheYMCAamplifiesthevoicesofyoungpeopleandcommunitiesandadvocatespoliciestoensuredecent,flexible,meaningfulandequitableaccesstoemployment,entrepreneurshipandtrainingopportunities.

TheYAustralia(formerlyYMCAAustralia)wastaskedwithgloballeadershipoftheWorldYMCA’sMeaningfulWorkpillar.Toaccelerateprogress,TheYAustraliaembarkedonanewcollaborationwithglobalprofessionalservicesfirm,DeloitteAustralia.Thecollaboration

effectivelyoptimisedbothYMCAandDeloitteAustralia’sexpertise,reachanduniqueunderstandingofyoungpeopleandthechangingnatureofwork.

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Contents

Introduction05

Background07

Executivesummary10

Youngpeopleandwork13

17

youngpeople

Barrierstoworkfor

Theroleofsupport

24

Whatyoungpeopleexpectandhopeforthefutureofwork

29

Thecaseforchange

34

AppendixAYouthMeaningfulWorkSurvey

37

04

CrisisofOpportunity:YoungNavigatingtheWorkOrder

Introduction

Foreword

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Theresultisthispublication,Crisisof

Opportunity:YoungPeopleNavigating

theNewWorkOrder,whichsetsoutourfindingsandthechangeweneedtoseetoempoweryoungpeopleinMeaningfulWork.Togetherwithitscompanion

Itiscrucialthatweaddressthese

challengesandprovideyoungpeoplewiththesupport,resources,andopportunitiestheyneed.Wehaveanimportantand

excitingroletoplayinhelpingpave

thepathforouryoungpeopletobuildsustainablecareersintoday’sworldofperpetualdisruption,andtoensureafuturefilledwithhopeandpossibilities.

Theworldneedsanewapproachto

MeaningfulWorktoensurethatyoung

peoplecanaccessandengageinthe

workofthefuture,fulfiltheirpotential,

andthrive.Weareproudtohaveengagedwith10,000youngpeoplegloballyto

understandtheirneeds,hopesand

fearsforworkandtoamplifytheirvoicesthroughourwork–inparticular,thevoicesofyoungpeoplefromlowersocialand

economicbackgroundsandunderservedcommunities,whoseworkandlivesstandtobetransformedbyimprovedMeaningfulWorkoutcomes.

Togetherwithourresearchandleading

insightsfromglobalsubjectmatterexpertsandWorldYMCAleaders,wehavelistenedwidelyanddeeply,tounderstandthe

opportunitiesandchallengesthatyoung

peoplearetacklingintoday’sworldof

work,andwhatchangeisneededtoenableandacceleratetheirabilitytopursue

theiraspirations.

Establishedin1844,theYMCAMovementisdedicatedtoempoweringyoungpeopleandtheircommunitiesworldwidetobuildajust,sustainable,equitableandinclusiveworld,whereeverypersoncanthriveinbody,mindandspirit.

publication,FutureReady:Reimagining

MeaningfulWorkforYoungPeople’Report,

weoutlinejustwhatthatnewapproachtoMeaningfulWorkwilllooklike,bothforyoungpeopleandtheorganisationsandcommunitiestheyworkin.

ForyoungpeopletoaccessMeaningful

Worknowandintothefuture,abetter

coordinatedandintegratedecosystemofbusiness,government,civilsocietyand

youngpeoplethemselves,willbeneededtocreateanewandaltogetherbetter

futureforyoungpeopleinwork–onethatmeetstheirneeds,allowsthemtofulfil

theirdreamsandsustainthemselvesandtheircommunitiesovertime.Thiswillnotonlyhelpyoungpeople,butdeliverpositiveoutcomesforemployers,economiesandsocietymorebroadly.

Ifweactnow,wecanchangethelivesofmillionsofyoungpeopleallaroundtheworldforyearstocome.Let’sworktogethertohelpmakeMeaningfulWorkarealityforyoungpeople.

In2022,welaunchedYMCAVision2030,

thefirstglobalstrategyinthehistoryofourMovement.MeaningfulWorkisoneoffourstrategicpillarsofVision2030:by2030,ourMovementaimstoempoweryoungpeopleandtheircommunitieseverywhereto

ensuretheyarereadyforthechallengesofworktoday,tomorrowandintothefuture.

Thesechallengesaresignificantlyimpactingyoungpeopleallaroundtheworld.They

facehigherunemploymentratescomparedtoadults,meaningthatimmediateactionisneededtoensurethattheyhaveaccesstomeaningfulemploymentopportunities.Youngpeopleareincreasinglyawareof

thegrowingdisparitybetweentheskills

andexperiencestheyhaveacquiredandthosedesiredbyemployers.Manyofthemfeelalackofhopeandareanticipating

negativeimpactstotheirworkfrom

majoreconomic,social,politicaland

environmentalchallenges.Atthesametime,theconcernsaroundthewellbeingandmentalhealthofyoungpeople

continuetoescalate,withyouthsuicide

aconcerningandgrowingtrend.

CarlosSanvee

WorldYMCASecretaryGeneral

06

PeopleNavigatingtheNewWorkOrder

Background

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Documentpurpose

CrisisofOpportunity:YoungPeople

NavigatingtheNewWorkOrderisthefirstoftwojointpublicationsbetweentheWorldYMCA,theYAustralia,DeloitteAustralia

andServiceNow.

Thisreportexploresthechallenges,

opportunitiesandaspirationsthatyoungpeoplearenavigatinginaccessingand

engaginginMeaningfulWork,andprovidesasummaryofthekeyfindingsfrom

theYouthMeaningfulWorksurvey,

conductedwithyoungpeopleaged18–35globallyfromOctober2023toMarch2024.Thisreportalsoincorporatesextensive

externalresearchontherelationshipbetweenyoungpeopleandwork.

Thesecondofourtwojointpublications,

FutureReady:ReimaginingMeaningful

WorkforYoungPeople,proposesanew

definitionforMeaningfulWorkdevelopedforandwithyoungpeopleandactsas

anaccompanimenttothisreport.The

definitionwillbesupportedbyacommon,globallyscalableframeworkandseriesofrecommendationstocreatechange.

Intendedaudiencesandhowtousethisdocument

RealisingMeaningfulWorkopportunitiesforyoungpeoplewillrelyoninvestmentandcoordinatedcollaborationacross

theworkecosystemthroughbusiness,governmentandcivilsociety.

Ayoungperson's"workecosystem"

encompassesthenetworkofactors—includinggovernments,businesses,

organizations,NGOs,families,and

communities—thatinfluencetheir

opportunities,support,andexperiences

inaccessingandengagingwithmeaningfulwork.

Throughcollectiveaction,thereisthe

abilitytodrivegreaterimpact,andcreateafuturewhereMeaningfulWorkbecomesanattainablerealityforagreaternumberofyoungpeople.

Thisdocumentisintendedtobereadandutilisedbyanumberofaudiences.We’veprovidedanoverviewofhow

differentaudiencesmayinterpretandapplythereport.

Table1.1:Intendedaudienceanduseofreport

IntendedAudience

Howtheycanusethereport

YoungPeople

Supportyoungpeopleinarticulatingwhattheywant,needandexpectfromtheirworkexperiences,aspirationsandconnectionstothebroadercommunity

Notforprofits,non-

governmentalorganisations,andotherorganisations

Empowerleadershipandstaffbyprovidingarobustandcredibleframeworkthatiscreatedforandbyyoungpeople,toadvocateforchange

Alignorganisationalpriorities,effortsaroundasharedagendaandcaseforchangeforyoungpeopleinwork

Business

Understandthemotivations,experiencesandaspirationsofyoungpeopletodesignnew

typesofworkandemploymentmodelsthatempowerthemtoachieveMeaningfulWorkandsustainablecareers.Introducingmoremeaningfulworkopportunitiescanboostproductivityandfosterinnovationinorganisations,ultimatelydrivingorganisationalgrowth

Governmentand

Understandthemotivations,experiencesandaspirationsofyoungpeopletoprofileandelevate

PolicyMakers

publicpolicyandregulatorydirectionsandapproaches

Understandtheroleofyoungpeoplewithintheworkecosystemandtheparttheycanplay

Communitieswhereyoung

Understandthemotivations,experiencesandaspirationsofyoungpeopletoexplorenew

peopleliveandwork

approachestofurthershapeMeaningfulWorkforyoungpeoplemovingforward

Understandtheroleofyoungpeoplewithintheworkecosystemandtheparttheycanplay

Source:DeloitteandYMCA

08

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Approachtothisreport

WehaveembarkedonaneightmonthprocessasapartnershipbetweenWorldYMCA,TheYAustraliaandDeloitteAustraliatoarriveatthisreport.

Thereporthasbeeninformedbyacomprehensiveandrobustdeeplisteningprocessthathasincluded:

TheYouthMeaningfulWork

Survey,asurveyofover10,000youngpeopleaged18–35yearsoldfromover120countries

worldwide,deliveredbytheWorldYMCAinconjunction

withDeloitteAustraliaand

ServiceNow(seeAppendixA).

90+YouthChampions(YMCAstaffandvolunteers),were

enlistedfromYMCAsto

promotethesurveyandplayedacriticalroleindrivingsurvey

AdditionallisteninginsightsdrawnfromtheGlobal

MeaningfulWorkproject

betweenWorldYMCAandDeloitteAustralia,includinginsightsfrom:

?3focusgroupswithatotalof60+youngpeopleengaged

?85+WorldYMCANational

GeneralSecretariesand

MeaningfulWorkpillarprogrammanagers

Extensivedesktopresearchintocurrentandfutureworkandworkforcetrends

CurrentWorldYMCAVision2030andMeaningfulWorkpillardocumentation,

includingreports,policiesandprograms.

?20+Deloitteglobalpartnersconsultedoncurrentand

responsesandreachingunder-representedgroups.

trends

futureworkandworkforce

Whodowemeanby‘youngpeople’?

Thedefinitionof"youngpeople"variesamonginternational

organisationssuchasILO,OECD,WHO,andUN,basedondifferentsocio-economiccontextsandmandates.

FortheWorldYMCAGlobalMeaningfulWorkprojectandthisreport,‘youngpeople’referstoindividualsaged18-35.Thisagerangewaschosentoallowforadetailedexaminationandcomparisonofthe

needsandpreferencesofindividualswithinspecificagegroups.

Segmentingtherangeintonarrowerbrackets,suchas18-21,22-25,26-30,and31-35,hasprovidednuancedinsightsintohowpreferencesandprioritiesdifferacrossdifferentlife

stageswithinthebroaderyoungadultdemographic.

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

10

Executivesummary

11

凹

Theworldofworkisrapidlychanging.

Approximately1.1billionyoungpeoplefromtheGlobalSouthaloneareenteringthe

workforceinthenextdecade.1

Inthewakeofmajorglobaleventssuchasthepandemic,increasingdigitisationanduseofAI,andongoingsocioeconomictensions,itisclearthatyoungpeoplearefacingaverydifferentworldofwork.

Recentresearchandliteraturerevealthreecriticalissuesthatyoungpeoplefacetoday:unemployment,lackofhope,andmentalhealthissues.

Figure1.1:Criticalissuesfacingyoungpeopletoday

Unemployment

Youngpeopleare3xmore

likelytobeunemployed

andbeininsecurejob

arrangements,withlittleto

nosocialprotections.

LackofHope

Only32%ofyoungpeople

believethattheircountry's

economicsituationwillimprove

inthenextyear,whileeven

fewer(27%)haveconfidencein

thepoliticalandsocialoutlook.

MentalHealth

40%ofyoungpeoplereport

theyarestressedalmostall

ofthetime.Youngpeople

arefacingawellbeing

crisis,feelingunmotivated,

unsupportedandburntout.

Source:OECD;ILO;2024DeloitteGenZandMillennialsurvey.

Oursurveyofyoungpeopleadds

tothisresearchbase,andfocuses

onthreekeyareas:experience,

connections,andaspirations.Weheardfromover10,000youngpeoplearound

theworldfromdifferentbackgrounds

andstagesoflife.Importantly,about

45%ofrespondentswerefroman

underrepresentedcommunity,2allowingustobetterunderstandanyuniqueworkexperiencesthattheseyoungpeopleface.

Onexperiences,about1in3youngpeoplefeelonlyneutralorfeel

negativeabouttheirwork.

Basedonourresearch,wehave

identifiedthatthissentimentreflectsthekeychallengesthatyoungpeopleare

experiencingatwork,includingalackoffairandreasonablepay,alackofopportunitiestobuildskillsandexperience,andalackofflexibleworkinghours.

Further,ourdeeplisteninghashighlightedthatthebiggestbarriersthatyoung

peoplesaytheyfaceinachievingtheir

workgoalsincludenothavingtherightskills,qualificationsorexperiences(38%ofrespondents),pooreconomicorsocialconditions(31%)andaccesstotherightsupport(29%).

1UnitedNations,WorldPopulationProspects:the2012Revision.ESA/P/WP.228(2012)

2Forapersontobeconsideredunder-representedtheyidentifiedwithoneofthefollowingcategories:apersonwithadisability,partofareligiousminoritygroup,LGBTQIA+,Indigenous/FirstNations,neurodivergent,partofaracial/ethnicminoritygroup,refugee/recentimmigrant.

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Whenitcomestoconnections,almost3in10youngpeoplesurveyed

highlightedthattheydon’tbelievetheyhavetherightsupporttheyneedto

achievetheirworkgoals.

Themostimportantareasthatyoungpeoplesaytheyneedsupportwithare:

1.Skilldevelopmentopportunities(58%ofrespondents)

2.Informationaboutworkandeducationopportunities(54%),and

3.Financialsupportforworkandeducation(45%).

Andwhenitcomestoaspirations,about3in4youngpeople(74%)saidthemostimportantthingtheywantfromfuture

workistheopportunitytobuildtheirskillsandexperience.Yetyoungpeopleare

alsoawarethattheirfutureworkisheavilyimpactedbytheuncertain,increasingly

complex,andrapidlychangingeconomicenvironment.

Butwhatdothesefindingsmean

foremployersandsupporting

organisationsmorebroadly?Itmeansthatthereisasubstantialopportunityandcaseforchange,sothatwecanfullysupportyoungpeopleinworkandensurethattheyreachtheirfullpotential.

Therearethreekeyopportunitiesthattheworkecosystemmustconsider:

1.Currentworkopportunities,

programsandapproachesaresiloed,notmeetingyoungpeople’sneeds

andimpactingtheirabilitytoreachtheirpotential.

2.Youngpeopleneedmoresupportfromtheworkecosystemtohelpthemfind,accessandprepareforMeaningfulWork.

3.Employersandsupporting

organisationsneedtoempoweryoungpeopletominimisedistressandfosterpositiveoutlooks.

Therearesignificantbenefitstobe

harnessediftheseopportunitiesare

actedon.Thesebenefitsextendbeyondindividualrewardorsatisfactiontoinclude:

Societalprosperity,

Organisationaleffectiveness,Communitywellbeing,andPersonaldevelopment.

Giventhemultifacetednatureofthesebenefitsandthelackofaunified

understandingtodate,therequirementtoestablishaclearandconcisedefinitionofMeaningfulWorkforyoungpeopleisfurtherjustified–andisacriticalnext

steptoimprovingtheworldofworkforallyoungpeople.

Establishingaunifieddefinitionwill

provideacommongoal,offeringguidanceforfuturepolicyreformandworkforce

investmentsbyemployers,andempoweryoungpeopletoeffectivelyexpresstheirwantsandneeds.

12

CrisisofOpportunity:YoungWork

Youngpeopleandwork

14

Theglobalcontextandexistingresearch

Theworldofworkischangingrapidly.

EventssuchastheCOVID-19pandemic,

theriseofadvancedtechnologysuch

asArtificialIntelligenceandongoing

social,economic,andpoliticaltensions

havetransformedtheworklandscape.

Consequently,theworkthatyoungpeopleareenteringtodaylooksmarkedlydifferenttotheworkofyesterday.

Approximately1.1billionyoung

peoplefromtheGlobalSouthalone

areenteringtheworkforceinthe

nextdecade.3Thecontributionand

impactofyoungpeopleinworktodayis

importantandpowerful–theyareoften

asourceofenergy,newperspectivesandideas,adaptabilityandearlyadoptionof

newtechnologiesandinnovations.4In

addition,thelowestestimatedlossesto

theeconomyresultingfromyoungpeoplebeingNEET(NotinEducation,EmploymentorTraining)wasjustunder￡22billionor

US$28billionintheUnitedKingdomalone.5

ResearchsuggeststhatwhenyoungpeopleengageinMeaningfulWork,employers

benefit:engagementleadstobetter

workforceloyaltyandmoreopportunitiesforskillsandleadershipdevelopment.6

But,thisrelationshipworksbothways:

workisalsoanimportantpartoflifefor

youngpeople.Youngpeoplespendmuchoftheirlifeworkinginsomecapacity,andcaredeeplyabouttheirpurposeinwork.7Accordingtothe2024GenZandMillennialReport,44%ofGenZsand40%of

Millennialsturndownemployersthatdon’talignwiththeirvalues.

Therefore,itisnosurprisethatthereis

extensiveresearchonyoungpeopleandtheirrelationshiptowork.Recentresearchhighlightsthreecriticalissuesthatyoungpeopleface:

Globalyouthunemploymentrates

remainsignificantlyhigherthantheoverallunemploymentrate,8despitesome

progressincertaincountries.The2024

GenZandMillennialReporthighlights

thatunemploymentisthesecondbiggestconcernforyoungpeoplebehindcostofliving.Youngpeoplearealsomorelikely

tobeengagedin‘bad’jobswithlimited

socialandlegalprotections.9Lackof

meaningfulemploymentopportunities

putsyoungpeopleatriskoffallingbehind,whichcanhavefar-reachingconsequencesinvariousaspectsoftheirlives.TheILO

estimatesthatifthe“prevailingyouth

unemploymentrateisreducedtothe

levelofadultunemployment,globalGDP

wouldincreasebybetween4.4and7.0

percent”,approximatelyUSD$3.7trillion.10Theseconsequencesincludelowersocialcapital,11ortakingonworkbelowtheir

educationorexperiencelevelthatcanleadto‘careerscarring’andlong-termlagsin

careerandincomegrowth.12

Youngpeoplealsoseemtofeellesshopeforthefuture.In2023,some75%ofGen

Zsand73%ofMillennialsagreedthattheworldisatatippingpointandlessthan

halfareoptimisticforthefuture.13Ayear

onin2024thisfearremains,withonlya

smallproportionofyoungpeople(32%)

reportingthattheircountry'seconomic

situationwillimproveinthenextyear,whileevenfewer(27%)haveconfidenceinthe

politicalandsocialoutlook.Costoflivingremainedthetopconcernforrespondentsin2024,followedbyunemployment,

climatechange,mentalhealthandcrimeandsafety.

Furthermore,aconsiderablenumber

expresseduncertaintyregarding

GenerativeAI(25%)andconcernsaboutthepotentialimpactofclimatechange(22%)ontheirfutureemployment.

Thishighlightsthesignificantchallengesthatyoungpeopleareimpactedby,

butoftenhavelittlesayover.14

3UnitedNations,

WorldPopulationProspects:the2012Revision.ESA/P/WP.228

(2012)

4

Unicef,6topbenefitsofhiringyoungtalent,(2019)

5UniversityofYork,

Estimatingthelife-timecostofNEET:16-18yearoldsnotinEducation,EmploymentorTraining,

(2010)

6

Deloitte,Thepurpose-drivenprofessional:Harnessingthepowerofcorporatesocialimpactfortalentdevelopment,(2015)

7Deloitte,

Global2024GenZandMillennialSurvey,

op.cit.

8OECD,

LabourStatistics:Unemploymentrates,

(2024)

9ILO,

Therecannotbedecentworkforallwithoutdecentworkforyouth,(2023)

10ILO,

RecoveryinYouthEmploymentisstilllagging,

(2022)

11TheConversation,

China’syouthunemploymentproblemhasbecomeacrisiswecannolongerignore,(2023)

12Forbes,

CareerScarringIsAThing.Here’sWhatToDo,(2020)

13Deloitte,

Global2023GenZandMillennialSurvey,(2024)

14Ibid

CrisisofOpportunity:YoungPeopleNavigatingtheNewWorkOrder

Compoundingthesechallengesisayouthmentalhealthcrisisthatisreachingboilingpoint,withonlyabouthalfofyoungpeople

reportingtheirmentalhealthasbeinggoodinthepastyear.15Some40%ofGenZsand35%ofMillennialsreportthattheyfeelpressuredallofthetime,withpressuresoutsideofworklikecostoflivingandclimatechangealsoimpactingyoungpeople’swellbeing.16Thishas

devastatingconsequences,withsuicidethefourthleadingcauseofdeathinyoungpeopleaged15–29,17underscoringthegravityoftheyouthmentalhealthcrisisoftoday.

Figure1.2:Criticalissuesfacingyoungpeopletoday

Unemployment

Youngpeopleare3xmore

likelytobeunemployed

andbeininsecurejob

arrangements,withlittleto

nosocialprotections.

LackofHope

Only32%ofyoungpeople

believethattheircountry's

economicsituationwillimprove

inthenextyear,whileeven

fewer(27%)haveconfidencein

thepoliticalandsocialoutlook.

MentalHealth

40%ofyoungpeoplereport

theyarestressedalmostall

ofthetime.Youngpeople

arefacingawellbeing

crisis,feelingunmotivated,

unsupportedandburntout.

Source:OECD;ILO;2024DeloitteGenZandMillennialsurvey.

Ourresearchaffirmedthatthethreeissuesaboveareprevalentforyoungpeople

aroundtheworld–

Ourdeeplisteningaddstothisresearchbaseinanimportantway–weheard

About1in4youngpeople

surveyed(22%)arecurrentlynot

workingbutarelookingforwork

Justunder1in2youngpeoplesurveyed(43%)anticipatethattheeconomicconditionsoftheircountrywillhaveanegative

impactontheirfuturework,and

About1in3youngpeople

surveyed(31%)expecttoneedmentalhealthorwellbeing

supportinthefuture.

directlyfromyoungpeopleaboutwhatisimportanttothemintheirlife,whatthatmeanstotheirrelationshipwithworkandwhattheyneed,wantandexpectfrom

workandemployers.Weheardfrom

over10,000