More than half (53%) of Australian millennials and 67 per cent of Gen Z said they regarded the gig economy as a viable alternative or supplement to full-time employment. Felicity Mullens is one Australian millennial who believes that her generation faces tough times ahead. "I think it’ll be harder for my generation compared to our parents to financially make their mark," said Ms Mullens, a 23-year old international studies and public relations student, who works in corporate communications. "We will definitely struggle with living expenses in capital cities and many of us will not be able to afford to buy houses." Ms Mullens says she has lost confidence in the ability of business and politics to look beyond self interest and have a positive impact on society.

"A lot of people my age feel they are not being taken care of and that a lot of politicians want to be pushing out more money, more money, whereas they are not taking care of the people." "I feel like a lot of organisations are just pushing through money and want to be successful. They are letting go of their ethics, morals and values and putting money above that." Ms Mullens' views are typical of those expressed in the Deloitte survey of more than 10,000 people born between 1983 and 1994 in 36 countries including Australia, which found they had little confidence in business and politicians. The proportion of the 337 Australian millennials surveyed who said business had a positive impact on society dropped from close to three quarters in 2017 to less than half in 2018. More than 80 per cent said business focused on its own agenda, rather than considering wider society, up from 69 per cent in 2017. Less than half (44 per cent) said they believed business behaved ethically.

Two-thirds (63 per cent) said they believed political leaders were having a negative impact on society. Only 23 per cent said they believe politicians are having a positive impact on society. The Pew Research Centre in the US, which has been studying the millennial generation for more than 10 years, released a survey in March that found 15 per cent trusted the federal government. Forbes magazine in December cited a Harvard University poll from 2015 on general feelings of trust, in which 88 per cent of millennials said they either “sometimes” or “never” trusted “Wall Street”. It reported 82 per cent of millennials “sometimes” or “never” trusted “Congress”. Loading Replay Replay video Play video Play video Mr Hill said millennials, and now Generation Z, were "acutely attuned to business’ wider role in society, and overwhelmingly feel business success should be measured beyond financial performance”.

“It’s alarming to see this reversal of confidence in business," Mr Hill said. "This significant group of our workforce feels business is placing too high a premium on its own agenda without considering its contribution to society at large. "[T]o restore millennials’ trust in business and, by extension, business leaders, companies need to orientate their business toward profit with purpose; and be proactive about making a positive impact in society. This is key to attracting and retaining millennials.” The Deloitte survey found millennials believed business priorities should include job creation, innovation, enhancing employees’ lives and careers and making a positive impact on society and the environment. But when asked what the organisations they worked for focused on, millennials cited generating profit, driving efficiencies, and producing or selling goods and services - the three areas they felt should have the least focus. They recognised businesses needed to make a profit to achieve broader priorities, but they took issue with how businesses were investing their profits. When choosing new employers, Australian millennials said they believed an organisation's culture was more important that money. Their loyalty to their current employer was relatively low but similar to last year, with 44 per cent saying they expected to stay with them for less than two years.

“While pay and culture attract this cohort to employers, it’s diversity, inclusion and flexibility that keep them there; they’re the keys to keeping millennials and Gen Z happy," Mr Hill said. The survey also shows that the concerns of millennials have shifted from crime, corruption, war and political tension last year to climate change, unemployment and income inequality this year.