Work Won’t Make Them Rich: Why Gen Z and Alpha Are Redefining Wealth and the Future of Work
In a glittering setting at Boodles in Leeds, senior leaders from across the region gathered for an unforgettable evening co-hosted by Naomi Thompson (Odel Solutions) and Claire Walton (Leaders are MAD). Jointly organised by Nigel Wright Group and NFP, an Aon company, this exclusive C-suite event tackled a timely and provocative question: If work won’t make them rich… what will?
Set against the luxury of diamond displays, the event brought serious sparkle to a topic affecting every business leader—how younger generations are reshaping the meaning of wealth, success, and work. Drawing on fresh insights and sharp generational analysis, Naomi and Claire unpacked why Gen Z and Gen Alpha are taking a radically different approach to their careers and finances.
The Economic Reality for Younger Generations
Baby Boomers aged 60–79 are the UK’s wealthiest generation, with 1 in 5 now millionaires—thanks in part to rising wages, affordable property prices, and generous pensions. Today, the Bank of Mum and Dad has become the country’s sixth-largest lender, handing out £9.6 billion in 2024 alone to help 52% of first-time buyers.
But for Gen Z and Alpha, born after 1997, the path to financial security looks very different. They’re facing:
- Stagnant wages and rising living costs
- No guaranteed pensions
- Increased reliance on side income and digital tools
As Naomi pointed out, some of the oldest members of Gen Alpha are now entering the workforce, meaning that for the first time in history, six generations will soon be working side by side.
What the Next Generation Really Wants
Rather than chasing the same markers of wealth as their predecessors, younger workers are prioritising:
- Purpose over paycheck
- Flexibility over formality
- Autonomy over authority
In a standout moment, Naomi shared that 46% of Millennials would rather seek guidance from AI than their manager—a sign not just of digital fluency, but of shifting trust structures in the workplace. Gen Z and Alpha are also more entrepreneurial than any generation before them, often turning to side hustles or AI-powered ventures before they even finish school.
A Leadership Wake-Up Call
Claire Walton took the conversation deeper, prompting attendees to reflect on what wealth means to them personally and how that definition may clash with the motivations of those they lead.
Through a powerful series of questions, Claire encouraged leaders to consider how their own financial journey has shaped their worldview:
- What does wealth mean to you?
- Has that changed over time?
- How do your actions reflect your values?
- How do your views align—or not—with younger employees?
Her conclusion was clear: all generations crave freedom from financial and emotional pressure, but they’re seeking it in very different ways.
Gen X may pursue it through relentless work and eventual retirement. Gen Alpha, by contrast, aims to design it into their lives from the start.
What Leaders Must Do Now
To remain relevant and attractive to the next generation, leaders were urged to:
- Embrace reverse mentoring – promotes cross-generational learning.
- Redesign the work structure – flexibility and AI are non-negotiable.
- Support entrepreneurship – don’t block side hustles, celebrate them.
- Update financial literacy programmes – make them real-world relevant.
- Modernise reward strategies – tie them to lifestyle, identity, and wellbeing.
As Naomi summed up: “Our job isn’t to prepare them for our workplace—it’s to prepare our workplace for them.”
A Sparkling Success
The evening was not just thought-provoking—it was genuinely enjoyable. Attendees mingled, networked, and even tried on Boodles’ exquisite jewellery. As one guest put it: It was an amazing event with insightful conversation in my favourite jewellers! Loved every minute
Another commented: “It’s the best event I’ve been to for networking… and dripping head to toe in diamonds was just fabulous!”
Huge thanks go to Karl Cummins at NFP, an AON Company, for leading the event and Sue O’Donovan from Nigel Wright Group for assembling such a vibrant group of senior leaders. The venue, the insights, and the conversations all left a lasting impression.
Final Reflection
Younger generations aren’t waiting to be handed wealth. They’re already building it on their own terms.
As leaders, the challenge isn’t just to catch up. It’s to keep up.
So… how is your business preparing to meet them there?