Industry – Finance

Show Z the Money

Show Z the Money: A Generation Pursuing Financial Strength

March 24 @ 4:06 pm EDT

This blog was written to help organizations better understand why they are challenged with differing generational traits.  Our studies show that the significant disruptions and societal shifts of the past 20+ years have influenced younger members behaviors. This has affected the reasons why joining and engaging with your organization is different today. The research findings do not apply to every single member of each generation. However, our 20 years of ongoing research findings continue to hold true – making the information valuable when drafting membership engagement and growth strategies to target younger members.  Generation Z’s views on money and financial status are distinctly different from Millennials. This is shaping their decisions and behavior from salary levels to homeownership and leaves ample opportunity for financial institutions to get in front of and work with this generation. The dot-com bubble burst the year I was born. When the Great Recession began, I was six. I was seven years old when the housing bubble finally popped. And today, many still live in fragile economic times. While the United States is currently experiencing a period of economic growth, there continues to be a sense of worry. There is unrest in the political sphere that can throw financial markets off. We are reminiscent of past events and recall family members struggling during the recession. Because of some of those factors, Gen Z places a premium on the value of financial status. We are a materialistic generation and one’s social status can depend on their socioeconomic status. Research from a case study done by start-up company FLAME shows over 75% of Gen Zs say they are motivated by money. The value we place on money will also translate to the recruiting world. When asked what is more important in a job, 66% of Gen Z survey respondents said that finding a job with financial stability is more important than finding a job you enjoy, and a good salary is the most important…

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