Ogilvy: Brands must empower Gen Z in gig economy

A new report by Ogilvy Consulting reveals that Gen Z is reshaping the landscape of careers and education, presenting a unique opportunity for brands to connect with this influential generation. The study, titled "Gen Z's Economic Crossroads," highlights the challenges young people face in a changing economic environment and how brands can act as "lighthouses" for skills and knowledge development.

Key Trends:

Shift to Gig Economy: By 2027, half of the developed world's workers will be part of the gig economy, driven by Gen Z's desire for work-life balance and a rejection of traditional employment.
Creator Economy Growth: The creator economy, a subset of the gig economy, is projected to grow significantly, with Gen Z at the forefront.
Education Evolution: Traditional education is being challenged as young people seek alternative learning methods like virtual classes, apprenticeships, and online certifications.
Skills Gap: There's a growing demand for new skills, including AI, digital marketing, and soft skills like critical thinking and emotional intelligence. Young workers feel they lack the skills needed to perform their roles effectively.

Opportunity for Brands:

The report emphasizes that brands have a "generational opportunity" to build loyalty and relevance by supporting Gen Z's learning and development. This can be achieved by:

Acting as Talent Incubators: Brands should encourage self-directed learning, provide access to e-learning platforms, and offer resources to both employees and the wider community.
Facilitating Skills Acquisition: This includes providing work experience opportunities, upskilling courses, access to premium software and subscriptions, network-building events, educational partnerships, and support for passion projects.
Supporting Employees, Creators, and Consumers: Brands should focus on developing employees' skills, providing tools and networking for creators/influencers, and creating purposeful experiences for consumers.

Specific Recommendations:

For Work Experience: Brands can run social media competitions for micro-internships, invite creators as corporate consultants, and offer employees "repotting days" for cross-departmental experience.
For Upskilling: Provide employees access to e-learning, create bespoke financial courses, and offer subscriptions to creator economy tools.
For Tools and Subscriptions: Offer discounted subscriptions and training, and provide employees access to software platforms for both work and passion projects.
For Networking: Offer passes to industry events, hold monthly town halls, and organize business bootcamps.
For Educational Partnerships: Create branded courses with e-learning platforms and traditional colleges, and develop exclusive content for creators.
For Supporting Passion Projects: Create internal talent marketplaces and offer consulting services for freelancers and small business owners.

Conclusion:

The report concludes that brands must embrace transformation to meet the needs of Gen Z in the evolving gig economy. By acting as "lighthouses" for skills and knowledge development, brands can build lasting loyalty and relevance with this influential generation.