Getting to Know Generation Z [Series]
Part 8: Preference Toward Being Conservative and Pragmatic About Money
Growing up during the Great Recession, Generation Z has a tendency toward conservative and pragmatic attitudes about money. Many of these individuals experienced the impact that the fall in the banking, housing, and automotive industries had on their everyday lives. Whether having experienced the shift from a life of abundance to a life necessity, the loss of their family’s home, or watching their friends and extended family endure these challenges, this generation understands that nothing is guaranteed. This experience has left them approaching money from a pragmatic and conservative viewpoint. Questioning: Is this really necessary? Is there a better, less expensive way? What is the return on investment? Is spending X guaranteed to fix Y?
This pragmatic and conservative attitude toward money only fuels the need for us to build Business Acumen in our employees so that 1) Leaders can answer questions on cost, spending, and budgeting and 2) To enhance fact based decision making that supports a holistic viewpoint in regards to spend and strategy.
How prepared are the leaders in your organization to answer financial driven questions about business decisions?