What does Gen Z want from business? Three things, according to recent findings from McKinsey & Co.: transparency, empathy, and sense of meaning. What does it mean? Two things, at least. First, this is a new leadership imperative, experts argue.
The B Corporation Effect
Since society’s expectations for business are rising then businesses have to adapt to retain both their customers and employees. Not to mention their investors!
As a result of this demand for social accountability, many firms are morphing into B Corporations.
Building the future
The second, it could be argued, is that in current times new generations are worrying about the future but with a very different approach compared to their older counterparts.
“Younger people think that environmentally and socially focused companies are better prospective employers.”Tweet
Indeed, whilst old generations have asked for a nostalgic return to the past, that is, the thing they already know, the new ones are worrying on how to build their future possibly because they lack of memories.
In both cases, it clearly emerges the need for a perspective. This is why, for instance, in asking for empathy new generations demand for a broad vision of the future that extends beyond the problem at hand.
A moral issue
It emerges a moral issue with clear ethical implications. Indeed, it is about developing a new people’s mindset, if you like, to build new geographies of what’s right or wrong.
So, the big issue becomes how, for example, managers and investors alike, possibily from past generations, can genuinely foster social purpose to build a sustainable and inclusive future. That’s the challenge.