Learn more about the latest ESG updates from the SEC. ...
Generation Z, otherwise known as iGeneration, represents the quarter of the population born after 1995. In contrast to older generations, Gen Z was born into a world of digital sophistication, and has grown up in the aftermath of the War on Terror, the Great Recession, and changing norms. This has led the generation to be pragmatic and mature, especially as it concerns charitable giving.
Gen Z is motivated by making a difference in the world — 60% of them even want their future jobs to have an impact on the world, and just over 1 in 10 hope to start a charity of their own. Twenty-six percent of 16-19 year olds currently volunteer, which is higher than every generation other than Gen X, which has a 28.9% volunteer rate. Additionally, 30% of Gen Z have already donated to an organization.
Due in part to Gen Z's close connection with technology and social media, they like to get connected with social issues and humanitarian causes across their social media platforms, enhancing their personal brand and garnering more "likes" in the process. Because Gen Z is so young, much of the volunteering and charitable giving is not only beneficial to their social media popularity, but also for the college essays and applications they must write. Getting involved with charitable organizations supports both of these goals.
When it comes to charitable giving for disaster relief, Gen Z contributors were most frequent, with 42.6% contributing to a crowdfunding site and 36.07% giving to a celebrity fundraiser in 2018. The most popular motives for donating to a celebrity's fundraiser were being a fan of that celebrity and trusting them to put the aid toward helping those in need. This lean toward celebrities is indicative of the nature of Gen Z's preference toward social media campaigns and online presence.
Gen Z is a unique generation with strong charitable inclinations. Communicating visually through short and compelling content will empower and inspire members of Gen Z to fulfill their goal of making a lasting impact.