While millennials and Gen Z are highly aware of how Industry 4.0 is shaping the workplace, many of them are uneasy about its arrival, said Deloitte that recently unveiled the results of its annual Millennial Survey.
This year’s survey, said Deloitte, is based on the views of 10,455 millennials questioned across 36 countries. Millennials included in the study were born between January 1983 and December 1994 and represent a specific group of this generation—those who have college or university degrees, are employed full time, and work predominantly in large, private-sector organizations.
The survey also includes responses from 1,844 Gen Z respondents—born between January 1995 and December 1999—in Australia, Canada, China, India, the United Kingdom and the United States. All are currently studying for or have obtained a first/higher degree while more than a third are working either full time (16%) or part time (21%), Deloitte added.
According to the results, 17% of respondents, and 32% of those whose organizations already use Industry 4.0 technologies extensively, fear part or all of their jobs will be replaced.
In addition, fewer than four in 10 millennials and three in 10 Gen Z workers feel they have the skills they will need to succeed and are looking to business to help prepare them for this new era.
Respondents are looking for guidance that’s far broader than technical knowledge, results indicate.
Young professionals are especially seeking help building softer skills like confidence, interpersonal skills and—particularly for Gen Z—ethics/integrity aptitude, Deloitte said.
However, they do not find businesses responsive to their development needs—only 36% of millennials and 42% of Gen Z respondents reported their employers were helping them understand and prepare for the changes associated with Industry 4.0.
“Businesses need to listen to what millennials are telling us and reimagine how business approaches talent management in Industry 4.0, placing a renewed focus on learning and development to help all people grow in their careers throughout their lifetimes,” said Michele Parmelee, Deloitte Global talent leader.