Work Won’t Make Them Rich: Why Gen Z and Alpha Are Redefining Wealth and the Future of Work
Set high above Manchester in the stunning Cloud23 venue, Nigel Wright Group and NFP, an Aon company, hosted a lively C-suite event focused on what wealth means for younger generations, and what this means for employers.
Attendees included HRDs, CEOs, CFOs and other senior leaders who packed into the space to discuss a changing world of work. With champagne flowing and city views stretching out below us, the tone was both social and serious. We were connecting great people to great opportunities, as well as to a timely conversation.
Wealth Is Not What It Is
The discussion, led by Naomi Thompson, Co-Founder of Discover Teams, and Claire Walton, Leadership Coach and Author, challenged the traditional view that hard work leads to wealth.
For Baby Boomers, this connection was often true. Rising wages, affordable homes and solid pensions helped many build significant wealth. One in five are now millionaires, and the so-called Bank of Mum and Dad handed out £9.6 billion in 2024 alone, supporting more than half of all first-time buyers.
But Gen Z and Alpha face a different reality:
- Living costs are high
- Wages are stalled
- Pension safety nets are uncertain
- Some Gen Alpha children will enter the workforce by 2026
That will put six generations in work at the same time, each with different expectations of what work should offer.
What Young Generations Value
Naomi described how Gen Z and Alpha are already rewriting the rules. They’re turning to side projects, digital tools and AI to earn money. Many don’t expect one job to meet all their needs.
They want:
- Purpose over paycheck
- Flexibility over formality
- Autonomy over authority
They’re not asking permission to build wealth; they’ve already started.
A Leadership Wake-Up Call
Claire opened up a powerful part of the session with four simple but important questions:
- What does wealth mean to you?
- Has that changed over time — at age 15, age 30 and now?
- What has influenced your perception of wealth during those life stages?
- How do your views compare with those of the younger people you lead?
These questions helped everyone reflect on personal experiences while thinking about what motivates their teams.
Five Things Leaders Can Do
To help organisations stay relevant and attractive, Naomi shared five actions to take now:
- Try reverse mentoring – Senior leaders can learn a lot from younger employees, especially around digital tools.
- Be flexible about how work gets done – Let teams use AI, hybrid models and their own rhythms where it works.
- Allow side income – Many people want to build personal projects. Supporting this can boost loyalty.
- Teach useful financial knowledge – Focus on what matters today, not just traditional savings advice.
- Offer rewards that feel personal – Think about lifestyle, values and wellbeing alongside salary.
As Naomi said, younger generations aren’t waiting for companies to catch up, they’re already building their own future. The challenge for employers is to make sure work is still worth showing up for.
A Brilliant Evening
The atmosphere throughout was open and constructive, the conversations covered a wide range of views and experiences, and feedback from attendees was positive:
“One of the best events I’ve attended in ages. Great venue and speakers. It’s been really valuable to network with a diverse mix of leaders from all business areas.” – HR Director
Special thanks to Karl Cummins at NFP and Sue O’Donovan from Nigel Wright Group for organising the evening.