3 Differences between Gen Z & Millennials

Updated: Jul 28, 2020

This is the video transcript of

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Hi everybody

Today we're going be talking about three differences between Generation Z and Millennials.

You already know Generation Z is born 1996 and thereafter and is the generation after Millennials.

Understand that *YOUR* Generation Z and Millennials will be slightly different

1. Technology Adoption

Now these two generations had technology come into their lives.

The only difference is Millennials had it come in later on in their lives so therefore like a new innovative drug. They were taking their time harnessing the challenges of and also the benefits of this technology. They're sometimes reliant on Google quite a bit which is where the confidence and that self-efficacy comes in.

With Gen Z, because to them they were already born into it, it was a given. Like an arm and a leg, they're now looking to use technology to not only to do good but better the society around them.

That also means that they have a lower of tolerance with organizations and stakeholders that don't use technology because hey for them its a part of their life and so

therefore it’s all the more important for you as organizations to understand how to embrace technology to fully engage this generation.

2. Globalisation versus Localized Globalisation

The second difference is globalization because of that technology coming in at the early stage Millennials were globally connected.

They didn't know their neighbor next door but they definitely knew their peers in another country. They were globally connected and saw overseas exposure as a critical aspect.

With Generation Z, with all of this negative rhetoric around trade wars, protectionism, nationalism, and even localisation where buy local, source local, that whole conversation, Gen Z's have a slightly different frame of mind.

Yes, they're very globally connected but you have to consider the fact that localisation will play an important part in the way they see the world.

That means as consumers, they're going consume differently.

And as workers, their attitudes towards international assignments and where to go internationally may also differ.

3. Economic Conditions as kids

The third difference is Generation Z are recession babies.

That means when they were growing up parents have been through a recession in their lives. And that means that they value the need for hard work, building cash reserve, and building their career in a composite fashion.

This does not mean they're going to be less entrepreneurial this just means that they will care about reserves, they'll care about their career and longer term stable relationships.