Overall, Gen Z workers are entering the workforce with a lower level of trust in their employers compared to previous generations. They value flexibility, transparency, and control in their relationship with work, and are not as loyal to traditional career paths. Communication is key for building trust with Gen Z employees, who prefer working in teams and value purpose in their work.
On the other hand, Gen Z workers can also take steps to build trust with employers. They can improve communication, embrace failure as a learning opportunity, and treat constructive criticism as a gift. Building relationships and trust through open communication and a willingness to learn and grow is crucial for both employers and Gen Z employees in today’s evolving work environment. “The summit is a coup for the autocratic invader of Ukraine, who’s ostensibly a global pariah but keeps on finding new friends. Please stop encouraging him.
TRUST EXERCISE
“The public debate about inflation has caught on to what economists have long known: Price change—aka inflation—and prices are not the same thing. Though inflation has fallen back sharply over the last two years, prices have not dropped—they have merely risen more slowly. And while politicians promise lower prices on the campaign trail, the dirty little secret is that nobody wants prices to fall across the board. Falling prices constitute deflation, inflation’s ugly cousin.
So, are American voters stuck on a plateau of higher prices? Not quite. Wages matter just as much as prices. If the prices of all goods doubled in one year, consumers would face dire circumstances. But if wages also doubled, any financial injury would be largely psychological. What ultimately matters is price affordability—the ratio of prices and wages.”
Financially, Americans don’t trust that they’re better off than five years ago. But in fact, things have improved. There’s also a good reason for that pessimism, explain Philipp Carlsson-Szlezak, Global Chief Economist, and Paul Swartz, senior economist, at Boston Consulting Group.
As Carlsson-Szlezak and Swartz note, consumer prices have surged almost 20% since 2019—while average wages grew more than 25% over the same period. So price affordability is 5% better today. At the same time, Americans are spending enough to ward off a recession, despite the prevailing narrative that they’re strapped for cash. They splurge where they see value for money—for instance, on toys and games, whose prices haven’t risen much lately.
But the issue is that people see price increases and wage gains very differently, Carlsson-Szlezak and Swartz observe. The former is something bad that befalls us, while the latter is earned. As a result, no pay hike can offset the sting of higher chicken prices. And of course, wage growth is unevenly distributed, so workers in some industries actually have fallen behind since 2019.
For companies aiming to build trust with consumers, the lesson is to offer real value. For politicians as November’s election draws near, it’s worth grasping how voters really think about prices, wages, and spending. Getting it wrong might prove costly.”