Marvin OnumonuDeloitte’s 2026 Gen Z and Millennial Survey found that work-life balance came out as the top career goal for both groups.
Cost of living remained the top concern for both generations in the UK, with 44% of Gen Z and 52% of millennials naming it as their biggest worry.
Fewer than 5% said leadership was their primary aim.
Around 40% of UK Gen Z and millennials said they lived payslip to payslip.
Almost half delayed major life decisions due to financial strain, and more than half said housing affordability influenced their career choices.
Kate Sweeney, partner and human capital lead at Deloitte UK, said: “For the fifth year running, the cost of living is casting a shadow over Gen Z and Millennials in the UK, forcing a ‘maybe later’ mentality on major life and career milestones, such as getting married or taking on a leadership role.
“Despite financial pressures, their pursuit of good work-life balance remains paramount.
“This isn’t just a preference; it’s a non-negotiable, reflecting a profound shift in workplace values and a conscious prioritisation of wellbeing.”
Interest in leadership roles was widespread, with 84% of Gen Z and 73% of millennials interested in pursuing leadership at some point, but only 5% and 3% respectively named it as their main goal.
Barriers to leadership globally included stress and burnout, excessive responsibility and concerns about work-life balance.
Most UK respondents said their mental health was good, but family health, finances and long working hours caused anxiety.
About a third of Gen Z and a quarter of millennials said they felt stressed all or most of the time.
Artificial intelligence (AI) use was high, with 82% of Gen Z and 81% of millennials in the UK using AI in their day-to-day work.
Most said AI had a positive impact on both personal and work lives.
More than half of Gen Z and nearly half of millennials reported having enough employer-provided AI tools, higher than global averages.
81% of UK Gen Z and 77% of UK millennials said they felt confident using AI at work.
Sweeney added: “Based on this survey, Gen Zs and Millennials are relatively optimistic about AI’s potential to enhance productivity, free up time, and create opportunities.
“Crucially, we are beginning to see these generations proactively leveraging the technology to reshape their career trajectories through learning and skill development, demonstrating a forward-thinking approach to their professional futures.”
