To improve productivity, leaders have to help millennials and Gen Z meet life goals

economictimes.indiatimes.com:

A recent report from Bajaj Allianz Life Insurance quantifies and highlights the change in these goals over the last few years. The report — Life Goals Preparedness Survey 2023 — covered 839 millennials in the 22-55-year age group in 8 cities.

Unlock Leadership Excellence with a Range of CXO Courses

Key findings on life goals prioritisation
Between 2019 and 2023, there was a 35% increase in the percentage of young people choosing balanced life as a key goal. The survey showed that 85% chose this as a priority in 2023, against 50% in 2019. The pandemic could have played a role in this shift. Health and fitness as a life goal also saw a drastic increase from 33% prioritising it in 2019 to 63% prioritising it in 2023.

Another key goal was travel. As many as 29% stated this as a key goal in 2019; it was a key goal for 55% of the people surveyed in 2023.

With digital transformation taking centre stage, leaders have to define their roles more succinctly

Apart from these goals, the top 10 goals also included financial security for family and education for children.

Not surprisingly, there was a 2X increase from 2019 to 2022 in terms of how social media influenced people’s life goals. Two of the 5 life goals were influenced by social media. The other key influence was from people, family and friends.

Given the importance of financial planning for meeting life goals, over 50% of those surveyed said they needed expert financial advice to meet their life goals. This included advice on higher education, buying of