#218: Gen Z and Their Impact on Business and Our Economy
Today I'm talking to the #1 speaker on generations in the world, Jason Dorsey. We'll be diving into how different generations (and more specifically generation Z) and their values will have an impact on the future of economy, trends, consumerism, capitalism, and more.
What You Will Learn In Today's Podcast Interview
- The different values and world events that create generational cohorts: Baby Boomers 1946-1964; Gen X 1965-1976; Millennials 1977-1995; Gen Z: 1996-TBD
- How Gen Z is changing things with their wallets and why they’re more likely to save money than spend it.
- Why Gen Zers entering the job market have the immediate potential to surpass their Millennial peers.
- What you can do to strengthen communication and therefore efficiencies between generations in your company for a better bottom line.
- What earned-wage access means and why it’s gaining traction.
- Gen Z’s buying and spending habits and what that indicates for future trends and the economy.
- Learn how to better connect to, build trust with, and drive influence over and between generations.
- What the “mega” me is.
- Insightful facts about Gen Z to help you better understand them, including that they trust influencers more than doctors.
- Why Gen Z ties stability to size and not history when it comes to businesses and how you can emphasize this during recruitment.
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Podcast Interview Summary:
Today we're going to be talking with Jason Dorsey about Gen Z and their impact not only on the future of our economy, but business as we know it. As author of Zconomy: How Gen Z Will Change the Future of Business—and What to Do About It, Jason knows what he’s talking about when he says a lot of our notions about Gen Z are dead wrong.
With over 1,000 standing ovations from his speeches on Gen Z and Millennials, and 65 generational studies for 700 different companies completed, Jason really is the “research guru” for tackling the next generation emerging onto the scene. He's been on 60 Minutes, CNBC and the Today Show, and has contributed to the Wall Street Journal and New York Times.
He’ll show you what matters to Gen Z and what your business should be doing it about it, from communication styles that help win customers and employees to simply understanding the mindset that having grown up with technology like smartphones and the internet gives them.
Jason’s mission is to help businesses make informed decisions about their employees, clients, and customers. On the interview today, he's going to be talking about how Gen Z is going to come in like a wrecking ball and how they will reshape our entrepreneurial landscape. Gen Z is not afraid to put their wallets where their values are, and they expect you to do the same. FYI, Gen Z is already 24 years old. We're not just talking about babies and kids here, but current employees and consumers with real money and influence.
I love this episode because Jason has so much insight into the way that our world's going to change based on the demographics that he researches.It's very hard to predict the future, as we all know; however, when you look at the big trends different generations force into the system based on their values, you can better tap into what the future of your business should look like. You don't have to predict today what's going to happen, but you can set yourself up to ride the next wave of innovation.
About the Guest:
Jason Doresy is a leading generational researcher, speaker, and author. He has appeared on over 200 TV shows including 60 Minutes, The Today Show, and The Early Show. His mission is to help leaders solve generational challenges with employees, customers, and emerging trends in order to grow their business faster.
Jason and his business partner Denise Villa PhD, has written a book entitled, Zconomy: How Gen Z Will Change the Future of Business—and What to Do About It, in which they talk about the approach that Gen Z takes to employment as well as buying, shopping, and influencing
15:11 - “Understanding generations enables you to faster connect with, build trust, and drive influence.” - Jason Doresy
16:11 - “How you are raised is one of the greatest influencers of what people will go on to do.” - Jason Doresy
42:51 - “Gen Z wants to know if you’re going to be able to pay them, are you going to be around a long time. So if you’re trying to recruit them, it’s very important that you talk to them about how stable you are.” - Jason Doresy
57:13 - “For the employers and marketers and business owners, what I encourage you to do is to create what we call a generational snapshot. Which means you essentially create a pie chart that shows you the percentage of each generation that is in your workplace.” - Jason Doresy
Links and Resources:
Zconomy: How Gen Z Will Change the Future of Business—and What to Do About It, by Jason Dorsey and Denise Villa, PhD
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Brought to you by Ryan Tansom of Intentional Growth