How Gen Z Is Changing Your Business

Long before the term ‘influencers’ was coined there was this cool generation of people who had a totally different approach towards creating trends and interpreting them. And mostly, these were the Gen Z folks — a ‘digital first’ generation who were born between 1995 and 2010 and exposed to the world of mobiles, internet, and social media from their birth.  

As global connectivity soared and the business world started evolving at a rapid pace,  Gen Z did everything possible to fuel that change. To start with, Gen Z is more inclined to gig work rather than traditional full-time roles. According to Forbes, they are the “most extroverted generation.” 

One of the other critical factors about Gen Z is their diversification. The New York Times quoted Gen Z as “the most diverse generation in the American history.”

But do you wish to know what drives this kind of change in GenZ? Of course, there are some characteristics that are typical to Gen Z. 

Characteristics of Gen Z 

The common thing is that most people confuse Gen Z with millennials. However, there are some striking differences — the first being their buying habits. Unlike millennials, they do not focus on price tags and always look for quality over price. 

Some of the other characteristics of Gen Z could be highlighted as below: 

  • Active online network 
  • Decision-making independence 
  • Risk-taking mindset 
  • Flexible 

5 ways in which Gen Z can impact your business 

  • They always focus on value

Organizations can no longer make the cut if they focus only on their sales and marketing strategies. They need to offer real value to their employees. For example, you will notice many small businesses run a blog where they share helpful tips and suggestions related to their industry and products or services. 

  • They come with strong collaboration skills 

Though the millennial generation comes with the largest number of college degrees, Gen Z prefers to have colleagues who know how to collaborate and work together. They prefer someone at work who would partner with them and bring out the best at work rather than someone who works equally hard as they do. 

This is also an opportunity for the employers to take note of this collaborative revolution and offer them the tools and technologies that facilitate this kind of environment at work. 

  • They prefer to embrace and adopt new technologies 

As they grew up in a digital environment, they always feel the need to be exposed to a stream of constant feedback in the form of likes, comments, and shares. 

This also implies they demand much lesser opportunities for engagement. And these opportunities could go well beyond the modern intranets or instant messaging platforms. Hence, the future of workplace might include VR, robotics or wearables. 

  • They always like to be transparent 

With Gen Z, it is critically important that the organizations reflect their transparency more than anything else. This implies they will not put up a picture that they are perfect even when they are not. They will talk about their shortcomings and upcoming plans to work on improving their products or processes if there are any issues cropping up. 

  • They demand greater personalization 

With Gen Z, it is critical that their career journeys are personalized and they are not offered something off-the-shelf. In fact to attract this generation, the employers must offer a robust training curriculum or programs that have a tangible focus on diversity. The employers could also consider offering them an internship program and then match them with a suitable role within the organization. 

Conclusion 

Gen Z is at the forefront of change and totally making an impact on the way the world does business. 

Robin Sharma, the renowned author of several bestsellers, said, “ The best in business spend far more time in learning than in leisure.” When talking about value and collaboration, a reliable Learning Management System (LMS) can make your journey totally meaningful. 

Book a call today to get a full-blown demo of the Totara LMS.