Gen Z, both as a name for a generation of people and as a cultural idea, has been incrementally trending in the last five years as per Google metrics. And this trend comes with a good reason: Having been given a strong upbringing by previous generations, Gen Z is perhaps the only generation not scrambling to keep up with a rapidly changing world but assimilating into it effortlessly. Why is this important?
Contrary to the pop culture idea that leaders from different generations are always at odds and that life is like a “soap operatic” corporate battle, the reality is far more nuanced and harmonious. A transition between generations can seem like a paradigm shift, but it has consistently proven to be productive and rewarding.
What Gen Z business professionals will look like
Recent years have seen a recalibration of growth in the business landscape. Financial prosperity alone no longer suffice. Younger generations place considerable emphasis on social and environmental responsibility, reshaping the future of business.
Observing and interacting with next-gen professionals has revealed a keen awareness of broader societal shifts. This awareness is fostered by our generation’s easy access to information through technology, aiding in understanding consumer trends and industry dynamics.
It’s clear that Gen Z business professionals, especially those in family-owned businesses, will need to align with these consumer expectations. Multi-generational family businesses stand the test of time because of strong values, and it is important to keep fostering these values and making a positive impact on the communities we serve.
Inclusivity will thrive with Gen Z
No success story in the history of the world has been possible without the combined efforts of people of different genders, ethnicities, and cultures. An example close to home is the GCC region’s economic growth, which has coincided with a noticeable increase in inclusion and diversity measures.
Women’s workforce participation has reached about 60 percent in some countries, healthcare services have become more accessible, and there is now a generational shift in terms of how businesses think of diversity, inclusion, and equity. Gen Z seems to be contributing significantly to these changes, and we’re learning more about it every day.
Overall, reflecting on experiences within a multi-generational business family brings to mind the invaluable lessons learned and the continuous learning as this exciting new phase approaches. The laurels of success belong to each unique perspective that helps things move forward at different stages of a generational business. This line of thinking, too, will be one of the biggest drivers of change over the next decade or so.
In this regard, the rise of young business professionals might end up being a bit more than just a passing of the torch. It could be a transformation of the very essence of business itself, and we as the next generation must, in all humility, understand what a privilege it is to be part of this change.