Pub. 4 2019 Issue 2

7 ISSUE 2 2019 “They believe business’ priorities should be job creation, inno- vation, enhancing employees’ lives and careers, and making a positive impact on society and the environment.” While they recognize that profits are necessary, Millennials and Gen Z believe businesses should focus more on other things than the bottom line. Unlike previous generations of workers just glad to have a job, today’s younger workers are choosier and need positive reasons to be loyal to their employ- ers, according to the survey. But, while they want businesses to help them with career development and prepare for industry 4.0 changes, neither envision hanging around too long. The survey notes that 61 percent of Gen Z expects to leave a job within two years, compared to 43 percent of Millennials. Only 12 percent of Gen Z feels like staying beyond five years, compared to 28 percent of Millennials. For Gen Z, financial rewards/benefits and a positive work- place culture trump all other reasons to work. Also, each generation is a proponent of the Gig Economy, the segment that takes on short-term contract or freelance work in ad- dition to full-time employment. Of Millennials who are in senior management, 70 percent favor taking on such work as an alternative to working full time. Deloitte says that “attracting Millennial and Gen Z respon- dents begins with financial rewards and workplace culture; it is enhanced when businesses and their senior management are diverse, and when the workplace offers higher degrees of flexibility. Those less than satisfied with their pay and work flexibility are increasingly attracted to the gig economy.” Companies that are able to balance social concerns with prof- itability and be more generous to employees and the commu- nity will attract and retain the cream of the crop. Need to add phone number and web address in the same color as the tag line. 860-860-838-5322 www.reficiocompany.com 860-838-5322 www.reficiocompany.com Need to add phone number and web address in the same color as the tag line. 860-860-838-5322 www.reficiocompany.com Millennials and Gen Z Are Paying Attention to Multi - family Social Practices Certainly, that speaks volumes for the future of leasing apart- ments, especially now that Gen Z has arrived and is signing leases for the first time. “Really, this generation is paying attention to everything socially that we are doing,” said Edr Vice President Kim Gris- vard at a recent student housing conference. “It’s about giving back or contributing, the whole fitness wellness thing and also about being eco-friendly.” Citing a number of surveys and industry data, Grisvard of- fered multifamily and student housing an introduction to the generation. Naturally, digital presence is a big factor with Gen Z, as many rely on connectivity and spend a chunk of their day on social media. “Forty percent prefer to have high-speed internet over a working bathroom,” Grisvard said with a laugh. The generation is heavy into volunteering for worthy causes and giving to charities, and strongly motivated by winning some- thing. Donating money to earn some swag, she said, is cool. Gen Z is all about being social and apartments that provide physical and cyber gathering spots will make an impact for Companies that are able to balance social concerns with profitability and be more generous to employees and the community will attract and retain the cream of the crop. Continued on page 8