That’s the question many organizations are asking as they strive to build more inclusive teams. While millennials, born between 1982 and 1997, are often described as the most diversity-driven generation, the reality is more complex. Their preferences aren’t just about ideals—they’re shaped by economic uncertainty, lived experiences, and how different diversity initiatives align with their professional needs.

So, when millennials talk about workplace diversity, what are they actually asking for? Let’s dig into what our research revealed.

Do Millennials Really Prioritize Diversity?

In general, yes. Millennials have consistently shown stronger support for diversity, equity, and inclusion (DEI) initiatives than previous generations. They’re more likely to say they want to work in diverse organizations and often factor in a company’s values when choosing an employer. However, when asked to prioritize types of diversity—racial, gender, cultural, ideological—opinions begin to diverge.

This shift becomes even more noticeable in high-pressure, uncertain career fields like finance. For many millennials, the kind of diversity they support most strongly depends on how much it can benefit them personally or professionally.

Racial Diversity: Who Supports It Most—and Why

In a recent study involving 85 millennials working in finance, we saw clear patterns based on race and gender.

• Black professionals, not surprisingly, supported race-based diversity initiatives the most. For them, DEI efforts are often viewed as a much-needed mechanism for leveling the playing field in industries where they remain underrepresented.

• Latino men also backed racial diversity initiatives. They saw DEI as a tool for visibility and job security, especially in a space where their presence is rare and their names are often seen as “unusual.”

• White women, interestingly, supported race-based diversity too—but their reasoning differed. They viewed such initiatives as a chance to be more informed allies and to contribute to a more inclusive workplace culture.

In all three cases, the commitment to race-based diversity was genuine—but also influenced by how these individuals believed it could help them navigate professional obstacles, whether external (discrimination, underrepresentation) or internal (allyship and understanding).

Who Shows Less Interest in Race-Based DEI?

Not every group was as invested in racial diversity. In fact, some respondents expressed lukewarm support or redefined what “diversity” meant to them.

• White men generally saw diversity as a good idea in theory, but didn’t believe race-specific initiatives held much value for them personally.

• Asian American men echoed this sentiment, expressing support for general inclusion but feeling disconnected from DEI programs that primarily focus on Black employees.

• Latinas and Asian American women were more supportive, but tended to frame their interest around gender-based diversity rather than race. Working in a male-dominated industry, they saw more personal benefit in policies that aimed to close the gender gap.

In short, while these groups didn’t oppose diversity, they viewed race-based initiatives as either irrelevant to their challenges or less helpful than other forms of inclusion.

Economic Insecurity Shapes Diversity Preferences

So why the differences? Much of it comes down to occupational precarity. Millennials have faced multiple economic setbacks—from student loan debt to global recessions—and many feel their career prospects are less stable than those of previous generations. In a competitive environment, people tend to value programs that they believe will help them succeed.

In our study, diversity wasn’t just a moral stance—it was a career strategy. Workers supported DEI initiatives when they believed it could help them advance, secure job stability, or better navigate workplace dynamics.

This doesn’t mean millennials are self-serving—it means they’re realistic. They still care about fairness, but they also evaluate diversity through a lens of personal and professional survival.

What This Means for Employers

For companies looking to attract and retain millennial talent, this research offers valuable insight: Millennials want diversity—but they want it to be relevant, visible, and actionable.

Generic commitments to inclusion aren’t enough. Employers must:

• Tailor DEI programs to reflect the unique needs of their workforce.

• Show how diversity initiatives create concrete opportunities and career pathways.

• Acknowledge that different groups value different aspects of DEI—gender, race, culture, or experience.

By demonstrating how diversity directly impacts professional growth and workplace culture, companies can turn abstract values into tangible incentives for millennial employees.

Final Thought: Diversity Is a Shared Goal, But a Personal Journey

Millennials say they want diversity—but what kind matters most depends on who’s asking, and why. While all groups value inclusivity, their support is often shaped by their lived experiences and career contexts.

For leaders and HR teams, this means crafting DEI strategies that go beyond broad commitments. Show the impact. Share the success stories. And above all, listen to your people.

Want to learn more about how different generations approach workplace culture and inclusion? Explore our latest insights, or share your thoughts in the comments below.