In this series of articles written by Gen Z’ers, we explore the perspectives, challenges, and opportunities the young generation must face both in their private and professional lives
As Gen Z enters the workforce, they bring a strong sense of social responsibility and a deep commitment to sustainability.
Sustainability has transformed from a trendy buzzword to a crucial business priority, driven significantly by Generation Z. This group is championing ethical supply chains, demanding transparency, accountability, fair labour practices, environmental conservation, and responsible sourcing.
The Rise of Gen Z in the Workforce
As Gen Z enters the workforce, they bring a strong sense of social responsibility and a deep commitment to sustainability. Unlike previous generations that often-considered corporate social responsibility (CSR) secondary, Gen Z views it as essential. This shift is prompting companies to reassess their supply chain practices to meet these new ethical standards. Many Gen Z and millennial professionals are also choosing careers that align with their values, prioritising sustainability and social responsibility over traditional corporate success. Despite facing affordability challenges, they are less inclined to sacrifice work-life balance for higher salaries. A higher corporate title and compensation are less attractive if they don’t translate into a better quality of life for these young adults.
Promoting fair labour practices
One of Gen Z’s significant contributions to the workplace is their strong stance on equitable labour practices. They vocally oppose exploitative conditions and advocate for workers’ rights throughout the supply chain. This advocacy is pushing companies to adopt fair standards, ensuring workers are paid adequately, work in safe conditions, and have access to necessary benefits. Brands sourcing materials from developing countries face increasing scrutiny to ensure their suppliers uphold these standards. Gen Z leverages social media to highlight labour exploitation, prompting companies to take swift corrective action.
Environmental conservation as a priority
Gen Z is making a substantial impact on environmental conservation. They are acutely aware of environmental challenges and are determined to make a difference. This generation demands that companies minimise their environmental footprint and actively contribute to conservation efforts. In response, businesses are adopting sustainable practices such as reducing carbon emissions, utilising renewable energy, and implementing waste reduction strategies. The trend towards circular supply chains, where products are designed for longevity, reused, and recycled, is also growing, minimising environmental impact.
Ethical sourcing and transparency
Ethical sourcing is central to Gen Z’s sustainability advocacy. They expect companies to source materials responsibly, ensuring procurement processes do not harm the environment or exploit communities. This includes sourcing raw materials from suppliers who adhere to environmental and social standards and ensuring transparency in the supply chain. Companies are increasingly adopting technologies like blockchain to provide transparency and traceability in their supply chains, allowing consumers and stakeholders to track products’ journeys from origin to end-user, ensuring ethical practices are upheld at every stage.
The business case for ethical supply chains
Embracing ethical supply networks is not only a moral imperative but also a strategic business decision. Companies prioritising sustainability are likely to attract and retain top talent from Gen Z, who seek to work for organisations aligning with their values. Moreover, consumers are more likely to support brands committed to ethical practices, leading to increased customer loyalty and brand reputation. The regulatory landscape is also evolving, with stricter regulations on environmental and labour standards worldwide. By proactively adopting ethical supply chain practices, companies can mitigate risks and ensure compliance with future regulations.
Being their own bosses
Despite student loan debt limiting their financial mobility, Gen Z and Millennials are prioritising work-life balance over higher salaries. According to a recent survey by Eagle Hill Consulting, these generations report the highest levels of burnout, with 54% of Gen-Zs and 52% of Millennials feeling the strain. This burnout is leading to a re-evaluation of their approach to work, emphasising a healthier balance between professional and personal lives. They seek autonomy in when, where, and how they work, finding meaning and purpose in their careers over traditional corporate success. They are also interested in reduced or flexible working hours, even if it might hinder personal finances, career advancement, and skill development opportunities. Enhanced career growth prospects for part-time roles, condensed four-day workweeks, job-sharing arrangements, and flexible hours are among their top priorities. About 75% of respondents expressed interest in reducing their overall work hours, underscoring a growing desire for a balanced lifestyle.
The rise of the gig and creator economies is drawing younger generations towards the freedom and flexibility of entrepreneurship over traditional corporate paths. A report by Justworks and a Harris Poll revealed that 71% of employed Gen-Zs and Millennials are interested in becoming entrepreneurs or establishing their own businesses. This entrepreneurial focus reflects their desire for innovation, independence, and self-determination, and their eagerness to forge new paths in the future of work. This need for autonomy and innovation further underscores why Gen Z is pushing for ethical supply chains. By promoting fair labour practices, environmental conservation, and ethical sourcing, they align their work with their values, ensuring their professional endeavours contribute to a better world.
Embracing the values and demands of Gen Z
Gen Z is driving the movement towards ethical supply chains, advocating for fair labuor practices, environmental conservation, and ethical sourcing. Their influence is pushing companies to move beyond superficial sustainability efforts and make meaningful changes to their supply chain operations. As this generation gains prominence in the workforce and marketplace, the push for sustainability and social responsibility will only intensify, paving the way for a more ethical and sustainable future. By embracing the values and demands of Gen Z, companies can improve their supply chain practices and position themselves as leaders in sustainability and social responsibility, ultimately benefiting both people and the planet.
Source:
https://www.forbes.com/sites/jackkelly/2024/06/07/gen-zs-and-millennials-are-opting-out-of-the-traditional-corporate-climb/?utm_source=linkedin_newsletter&utm_medium=social&utm_campaign=forbes_edge
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