Gen Z is coming! Are you ready?

gen z

According to the CNBC, about 61 000 Gen Zers are on the verge of entering the workforce and consumer market in the US alone.

They are digital natives; they have grown up in a world of vines, txts (yes, we know) and internet. Their attention span is shorter than ever, they are more connected than any other generation, and they are brilliant multitaskers. Gen Z is a more tolerant generation but also more cautious; studies have found less risk-taking amongst this group and an increase in thoughtfulness and questioning authority.

So, on the one side of this coin, how do you market your company to this generation?

 

By being transparent.

Be upfront about your business, what you’re doing and how you’re doing it. They have lost faith in corporations. Thus, you must stop relying on and hiding behind small print. Yes, you need terms and conditions to protect your company, but when it looks like a miracle weight-loss advert of the 80s (“Eat anything you want just take this pill. Ts&Cs apply.”), you’ll lose customers.

Gen Z consumers want to see you are real; they don’t want models or celebrities but regular people who can assist them in a manner that speaks to them. And they will hold your business is socially accountable. Instead of producing millions of T-shirts at the cheapest possible price, they want local, equality and free-trade, and they want to know what businesses are doing for the environment and society.

Gen Z won’t accept your claims at your word; they want to see evidence in your company culture.

 

By offering options.

A jewellery purchasing study has found that most Gen Zers don’t have a preferred shopping platform. What this means is your messaging, availability and culture need to be spread evenly across all contact points – sales, call centres, website and digital advertising. In fact, many Gen Z consumers rely on mixing their contact points.

That being said, they want immediate action. If they see something they want online, they will go to the shop just to have the item right now. More than immediacy, they also want custom-made or made-to-order products and services. They shy away from traditional made-to-stock methods, which creates plenty of room in the production industry.

 

By being forward thinking.

We have to always remember what was mind-blowing inventions to other generations are the norm for Gen Zers. They hold brands and businesses to high expectations, and instead of being loyal to brands, expect brands to be loyal to them. As Gen Z is more focused on individuality, they are also proving to be a generation with a high entrepreneurial output. All this shows that they don’t want the norm; they don’t crave what’s new today, they want tomorrow, sustainability and innovation, and they want it now.

On the other side of the coin, how do you attract this generation to work at your company? In much the same way.

 

By being transparent.

As much as you are hiring them based on what they bring to the table, so too are they looking at what you can afford them. But, they don’t just want to hear you tell them about the benefits, they want to see it – and they are not after just money. Gen Zers want to be financially secure, but also one that is fulfilling; one where they find purpose in their jobs and company.

 

By offering options.

Gen Z employees don’t want to work eight to five, they don’t want to be chained to a desk, and they don’t want to be micro-managed. Give them flexibility on how they want to conduct their work and how they can communicate with their colleagues. Create an understanding workspace for their needs and help them improve their skills – for instance, it’s been reported that a stumbling block for Gen Zers is communication. Growing up with emojis and text messages make face-to-face conversations, business calls and writing emails difficult for them.

Gen Z employees want to work hard and grow their skills. Even though they’re growing up in a super-paced society, they want to climb the corporate ranks at the given speed. What they crave, with urgency, is gaining value from their jobs.

 

By being forward thinking.

They are lateral thinkers, and their creativity is not just outside the box but has broken the box completely. Gen Z is incredibly tech-savvy, and they will challenge the systems and procedures you have in place if these are not providing the needed speed and data required. Thus, they crave to work in an environment where they can push boundaries and ultimately help the company move forward. Hiring from the Gen Z pool can provide you with innovative insights into your business that can grow it towards tomorrow’s giants.

The only way to be sure you are future-proofing your business is by guaranteeing it caters for future customers and employees, by relying on forward-thinking enterprise resource planning software, for instance. Epicor ERP software ensures that their clients stay agile and innovative through trusting top minds to build and develop intelligent systems that open doors for Gen Zers. It’s Epicor’s innate tech-savviness that allows them to visualise the landscape of tomorrow and develop the software to support it today.

The 3.5 things your business needs to grow. Do you have them?

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You’re making a profit, and you have a team of analysts reviewing the market to ensure that your business is going places; but (and it’s a big one) are you sure this is future proofing your business? Are you positive the future you’re planning for your business is right?

 

Feeling slightly concerned? You should be, and that’s normal. We want to put your mind at ease by telling you which 3.5 things you need to take your business exactly where it should go and secure your future.

 

1. See

Sounds simple enough, but so often we miss what’s right in front of us; thus, in the great words of Rafiki, “look beyond what you see”. The only way to make informed decisions is by analysing real-time data. Yes, looking back at what your business has done in the past is important, we’re not shunning history, but the environment was different, and it’s too late to make amendments, improvements or avoid mishaps.

 

In addition to enjoying real-time data collection, it’s best to have a single system in place to collect and analyse data. A system that can instantly record and align data from different departments will give you a comprehensive overview of what’s happening where in your business. In this way, you’ll save time (as you won’t argue about what’s not working as effectively and efficiently as it should), and money (as you won’t be relying on third-party data collectors).

 

2. Respond

 

When you have a single system in place and can pull collective, real-time data from across all your business departments, you will have the opportunity to make the needed changes immediately, cutting your reaction time down, and fix the course your business is on before things go wrong. You’ll be able to make informed decisions where it’s needed most. There is no need, and absolutely no time, to wait for an issue or request to be brought to you as a decision-maker by your customers; win their loyalty by being upfront and setting it straight before it becomes an issue.

 

A setup that provides you with this accuracy and immediacy can assist you in changing your business’s KPIs without wasting time, money or resources. You’ll enjoy more control, and meticulous control, of your business’s present and future. Unfortunately, the business landscape we’re in is of such a type that there is no time to waste to enter the market with a new product or service; hence, the quicker you are, the better. Most important, the faster you can make changes within your business, the more agility you bring to it.

 

3. Adapt

 

The terrifying truth about doing business is if you don’t stay relevant and innovative, the business will die. Again, a single system can provide you with gold. The insights you gain from the data collected, the speed at which it’s obtained plus the comprehensive view of your business identifies growth and pivoting opportunities.

 

You need to be proactively reactive. You need to constantly search for new ways to reach your business’s potential and adapt where its potential lies, as the consumer market is ever-changing. In order to do this, you need software in place that can keep up with your future plans and can help identify new opportunities.

 

0.5. Traditional

 

Last but not least, you need to focus on the traditional business aspects. It’s great to be agile and quick to respond, but if your administration, staff, cash flow, etc. are in disarray, you’ll struggle to grow. Be sure not to investigate your traditional business aspects in isolation, but to look at everything inclusively.

 

These are daunting abilities you need to have, but as a business owner and decision-maker you’ve accepted the responsibility to grow and build your business into something spectacular; the correct software in place can offer you all the support you need to succeed.