Giving Compass' Take:

• Igor Makarov explains how the interests of Millennials and Generation Z are changing philanthropy and giving habits. 

• How can these shifts be harnessed to improve the future of philanthropy? 

• Read more about how Millennials are changing philanthropy. 

Much has been written about the differences between Millennials/Generation Z and previous generations. Unless you’ve been living under a rock, you’re well aware of how these two rising generations are changing the workplace as we know it.

What isn’t commonly discussed is how they are changing the landscape of philanthropy as well.

What makes Millennials and Gen Z so different?

1. Their interests: Because of technology and globalization, Millennials and Gen Z have grown up more connected to our world as a whole than any other generation. The age of the Internet and instant communication means that Millennials and Gen Z are much more aware of current events and the challenges facing our globe. It also means they have more fear about the future than previous generations.

2. Their friends’ interests: Along with their own particular philanthropic interests, young people from the Millennial and Gen Z generations are more likely to respond to their friends’ philanthropic interests.

3. Need for transparency: We live in an age of online data mining and security leaks. The trust of Millennials and Gen Z in major institutions is becoming more tenuous by the day.

4. Need for effortlessness: Along with greater global awareness and decreased trust, the constant exposure and demand of technology and social media has created a need for all transactions to be effortless.

5. The most generous, hard up generation: It’s no secret that Millennials and Gen Z have faced more financial hardships heading into young adulthood than their parents and grandparents. We all know that the financial crisis of 2008 and the student loan bubble have caused serious hardships. Gaining stable footing under the weight of student loans and an uncertain job market has been a struggle.

Read the full article about Millennials and Gen Z by Igor Makarov at Thrive Global.