Pub. 4 2019 Issue 2

6 www.ctaahq.org It’s up to Multifamily to Listen to What Gen Z Is Saying W ith the arrival of a new generation of renters, marketing strategies typically change in multifamily housing and other businesses. Millennials have made more impact in the apartment industry by transforming leasing and amenity preferences than any other generation. And Gen Z, the next wave coming into focus, isn’t just following suit. One thing both are doing, however, is sending a stern mes- sage to Corporate America about what they expect in the future. It may be a sobering moment for many companies that think they can go about business as usual. Millennials and Gen Z are both about positive impact in the broader world and are attuned to how businesses behave ethically. No secret there. But in Deloitte’s latest Millennial Survey released in May, both are showing less loyalty and confidence in business. Younger Generations Skeptical of Business Motivations The seventh annual survey, which asked nearly 10,500 Mil- lennials in 36 countries and 1,850 Gen Z-ers in six countries about their views on business, revealed the younger demo- graphics are more skeptical of companies’ motivations and whether they are committed to the greater good. Less than half of Millennials now feel businesses behave eth- ically vs. compared to 65 percent a year ago, and fewer believe business leaders are committed to helping improve society (47 percent vs 62 percent). “As highlighted over the past six years, Millennials — and now Gen Z—are acutely attuned to business’ wider role in society, and overwhelmingly feel that business success should be measured beyond financial performance,” the survey said. Property Management Insider