The Gen Z Effect: How the Next Generation is Transforming Compliance

This generational shift and its impact on compliance will be a core focus of the upcoming #RISK Digital North America event on January 30th, particularly in the session ”The Gen Z Effect: Modernizing Compliance for a New Era” (1:10 PM - 1:50 PM EST / 10:10 AM - 10:50 AM PST).

The Gen Z Difference:

Gen Z is unlike any previous generation. They are the first true digital natives, having grown up with the internet, smartphones, and social media at their fingertips. They are tech-savvy, entrepreneurial, and value-driven, with a strong desire for authenticity, transparency, and purpose. These characteristics have profound implications for compliance programs, which must evolve to effectively engage and resonate with this new generation.

Key Trends Shaping the Gen Z Compliance Landscape:

1. The Side Hustle Culture: Gen Z is often characterized by its entrepreneurial spirit and the prevalence of “side hustles.” This can create unique challenges for compliance teams, particularly regarding conflicts of interest, data security, and intellectual property protection. Organizations need to develop clear policies and guidelines that address these issues while still respecting Gen Z’s desire for autonomy and flexibility.
2. Demand for Transparency and Authenticity: Gen Z expects transparency and authenticity from the organizations they work for and interact with. They are more likely to question authority and demand clear explanations for policies and procedures. Compliance programs need to be built on a foundation of trust and open communication.
3. Tech-Driven Engagement: Traditional compliance training methods, such as lengthy manuals and boring lectures, are unlikely to be effective with Gen Z. Organizations need to leverage technology to create more engaging and interactive learning experiences, incorporating gamification, microlearning, and mobile-first approaches.
4. Social Media and Reputational Risk: Gen Z is highly active on social media, and their online behavior can have significant reputational consequences for organizations. Companies need to develop clear social media policies and provide training on responsible online conduct.
5. Values-Driven Employment: Gen Z prioritizes working for organizations that align with their values. They are drawn to companies with strong ethical track records, a commitment to social responsibility, and a diverse and inclusive workplace. Compliance programs that demonstrate a commitment to these values will be better positioned to attract and retain Gen Z talent.

Modernizing Compliance for the Gen Z Era:

To effectively engage Gen Z and ensure compliance in this new era, organizations need to modernize their approach. This includes:

• Rethinking Communication: Compliance communication needs to be clear, concise, and easily accessible. Leverage digital channels, such as short videos, infographics, and interactive quizzes, to deliver information in a way that resonates with Gen Z’s communication preferences.
• Embracing Technology: Utilize technology platforms to streamline compliance processes, automate tasks, and provide real-time monitoring and reporting. Explore the use of AI and machine learning to enhance compliance efforts and personalize the learning experience.
• Focusing on Ethical Culture: Move beyond a “check-the-box” mentality to foster a culture of ethics and integrity that aligns with Gen Z’s values. Encourage open dialogue, provide channels for reporting concerns, and demonstrate a commitment to ethical decision-making at all levels.
• Adapting Policies: Develop policies that are relevant to the realities of the modern workplace, addressing issues such as remote work, social media use, and the gig economy. Ensure policies are easily accessible and understandable.
• Empowering Employees: Give Gen Z employees a voice in shaping the compliance program. Solicit their feedback, involve them in the development of training materials, and empower them to be compliance ambassadors.

Expert Insights at #RISK Digital North America

The session ”The Gen Z Effect: Modernizing Compliance for a New Era” at #RISK Digital North America will delve deeper into these trends and provide actionable strategies for organizations seeking to adapt their compliance programs. The panel features a diverse group of experts who will share their insights and experiences:

• Patrick Henz, Special Adviser for Compliance Latin America at Mitsubishi Heavy Industries Americas, will bring a global perspective on compliance challenges and best practices.
• Gwendolyn Lee Hassan, Deputy Chief Compliance Officer at Unisys, will offer insights into building and managing effective compliance programs within a large, multinational organization.
• Sabrykrishnan Loganathan, Digital Gen-AI Ecommerce Executive Leader at Regal Rexnord, will share his expertise on leveraging technology and engaging with Gen Z in the digital age.

Moderated by a seasoned industry expert, this panel discussion will explore real-world examples, practical solutions, and innovative approaches to compliance in the Gen Z era. Attendees will gain valuable insights into:

• Tailoring compliance communication for a digitally native workforce.
• Addressing the challenges of managing conflicts of interest in the age of the side hustle.
• Leveraging technology to enhance compliance training, monitoring, and reporting.
• Building a culture of compliance that resonates with Gen Z’s values and expectations.

A Must-Attend Event

#RISK Digital North America, taking place on January 30th, is a premier online event for senior leaders and risk professionals across all industries. This event will cover a wide range of critical risk topics, including cybersecurity, data privacy, regulatory compliance, and the impact of emerging technologies.

The session on “The Gen Z Effect” is particularly relevant for organizations seeking to attract, retain, and engage the next generation of talent while ensuring compliance with evolving regulations and ethical standards. It’s a unique opportunity to learn from leading experts, network with peers, and gain actionable strategies to modernize your compliance program.

Don’t miss this chance to prepare your organization for the future of work. Register for #RISK Digital North America today and secure your place at this essential session.

On-demand access will be available for a limited time after the live event, exclusively for registered attendees.

Register here today!