Getting to Know Generation Z: Preference Toward Being Conservative About Money

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? 

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Click Here for Part 7

Getting to Know Generation Z: The Desire for Purpose and Fulfillment

Getting to Know Generation Z [Series]

PART 3: The Desire for Purpose and Fulfillment

Generation Z wants more than just a job, they seek a job with purpose, a sense of fulfillment that helps to move the world forward.  As leader’s in organizations, how might we better convey organizational purpose to our employees and encourage them to explore and nurture meaning and fulfillment within their roles? 

Start with a clear vision.  Revisit the history and vision of your organization and department.  Most organizations are not start-ups and their founding stories have been lost in mergers, acquisitions and growth.  Recount why your organization exists and share it with your employees.  Then emphasize why their individual roles are important and add value.  In addition, encourage employees to develop a vision (purpose) statement for themselves.  What do they see their purpose in life to be?  Does this align with their career path and goals? 

Utilize recognition techniques to convey the link between individual contributions and reaching departmental and company goals.  Create an atmosphere of appreciation and positivity where one might find meaning in being part of a team; part of something larger than themselves. 

Actively engage in one-on-one’s look for opportunities to help your employees align their overarching purpose with their role.  Encourage them to also look for opportunities that might provide a sense of purpose while fostering an entrepreneurial mindset.   

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Click Here for Part 2


Getting to Know Generation Z: the Entrepreneurial Mindset [Series]

Getting to Know Generation Z [Series]

PART 2: The Entrepreneurial Mindset

An entrepreneurial mindset is not synonymous with becoming an entrepreneur.  Generation Z tends to gravitate toward an Entrepreneurial Mindset; a mindset that has been described by The Network for Teaching Entrepreneurship as the skills and behaviors that include initiative and self-direction, risk-taking, flexibility and adaptability, creativity and innovation, and critical thinking and problem-solving.  Others have described an Entrepreneurial Mindset as the ability to see opportunities, organize resources and create value.  Many of these attributes fall into the category of what many leaders feel are missing today in their workforce and would welcome experienced employees who display these skills and behaviors.  Therein lies the question around how to foster and encourage the use of these attributes in someone who is new to the industry.  What are the boundaries for creativity?  How much risk should someone new to the workforce take prior to consulting someone?  And how can we help the entering workforce gain visibly and opportunity in putting their critical thinking and problem-solving skills to work? 

Do you know someone who has an entrepreneurial mindset within your organization today?  How might you coach, teach and mentor them to ensure that these attributes are appreciated and not stifled? 

Click Here for Part 1

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Getting to Know Generation Z: the Intrapersonal and Independent Learners [Series]

Getting to Know Generation Z [Series]

PART 1: The Intrapersonal and Independent Learners

Research described in the book, Generation Z Goes to College by Corey Seemiller portrays Generation Z as having a preference for intrapersonal and independent learning over group work, yet they like to do their work alongside others in a social manner when studying.  Translate that from entering college to entering the workforce, and what does that mean for organizations in how they develop and deliver training, build and modify physical workspace, and collaborate across teams? 

  • Develop and Deliver Training:  Growing up in a time where computer technology has influenced individual on-line learning.  Generation Z is no stranger to independent learning platforms that foster intrapersonal learning; learning that is described as introspective and independent where learners are aware of their own thinking and have the ability to analyze the way in which they think and feel.  Translate this into the formal and informal training environment and organization’s will need to incorporate independent thinking activities and self-reflection activities into training curriculum while providing support and training for working and contributing in group settings. 
  • Build and Modify Physical Workspace:  In an effort to manage costs and increase collaboration, many organizations have already shifted to an open work space environment.  Changes in the physical workspace range from no doors and shorter walls to much larger changes such as assigned work areas where you pick your seat based on availability when you arrive at work.  While these changes are met with mixed feelings from the other 3 generations, to Generation Z, this type of office environment is a natural extension of the educational environment that they have been a part of all of their lives. 
  • Collaboration Across Teams:  Delivering timely and quality products and services to customers requires collaboration across teams.  As on a sports team, work environments require cooperation and a group effort to achieve goals.  Generation Z thrives in social settings that are ripe environments for spontaneous cross collaboration and creativity to generate ideas, while independently working on assigned actions.  Through boundary management and expectation setting, both collaboration and independence can both occur. 

We would love to hear from you.  In what ways does your organization already support these preferences of Generation Z?

Click Here for Part 2

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9 Preferences and Ideologies of Generation Z that will Re-Shape the Work Climate

9 Preferences and Ideologies of Generation Z that will Re-Shape the Work Climate

Ready or not, here they come!  You may notice some slight nuances in work attitude and style, as you welcome to your organization summer interns and the recent group of group of new graduates.  Perhaps you catch yourself thinking something is different, something is changing, but yet, you still have not been able to identify exactly what that “something” is.  If you have found yourself thinking these thoughts, you are right.  Something is different, Generation Z (the post-millennial generation) is entering the workforce and it is time that organizations begin to understand their motivations and expectations and how they might influence and shape the world of work. 

10 Preferences and Ideologies of Generation Z that will Re-Shape the Work Climate

  1. Preference for intrapersonal and independent work/learning over group work/learning
  2. Gravitate toward an entrepreneurial mindset
  3. Seek more than just a job; they want a job with purpose and a sense of fulfillment that helps to move the world forward
  4. Possess the skills needed to operate in a high tech world, but prefer person to person contact as opposed to on-line interaction
  5. Grew up in an on-demand economy and therefore expect immediacy in the delivery of products and services
  6. Have been “on-camera” all of their lives and therefore are more aware of the power of presence in influencing others
  7. See the internet as a tool to socialize and also gain information that they can apply to real life
  8. Conservative and pragmatic about money
  9. Understand that systems are broken

Join us for our 9 part series that will take a more in depth look at how each of these preferences will re-shape the work climate. 

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