Every business could do with a little transition to the digital world, and there are no better-equipped individuals for the drive than the millennials. While your thinking is the “old school” style – not to say it is obsolete – what your business needs today is a mind that conforms to the contemporary consumer preferences.
Millennials grew up with the internet. They are the first generation of the era and were born between the 1980s and 2000. They are hard to ignore as they are making a mark in several workplaces. Moreover, they make the biggest generational cohort in our workforce.
So why do they matter? Well, they do and not just in the success of a business because of their large numbers, but with them, they bring forth skills and ideas that when implemented could drive your company to a world-class enterprise.
Nevertheless, it worth mentioning that they are fragile and if you do not take good care of them, they will leave your sorry self quicker than you can say “You’re fired!”
Millennials are tech-savvy. They grew up with technology. They are driven and ruled by technology. With you still fumbling and trying to locate the right keys for a word on the keyboard, they are already making it do what they tell it to do. There is Artificial Intelligence not to mention the increased automation. If you can have at least one millennial who can roll out such innovations, why won’t your business thrive in the technological world?
Let’s face it. Sometimes everything in your business seems just redundant. In your old age, we can safely say you have the experience and wisdom to make the right decisions that will further grow your company. However, if you fail to see that the youth are always looking for a better way and give them a chance to change how things are done, then you are either blind or doesn’t want more money.
The millennials have brought constant disruption. They are the force behind the most disruptive businesses; Facebook, Instagram among others. These people don’t settle for the status quo, they are competing to be the best, which is why you should utilize them to get loads of ideas.
There would be no companies if there weren’t any consumers. Because customers are all you need, then by now you should know how millennials are well connected. They hold lots of consumer information and are generally nosy for anything interesting in the industry. Some of the information you can get from them includes what your competitors are up to, the advances in the industry or the possible collaborations and partnerships that could strengthen your business.
Nevertheless, you can also leverage their passion for traveling the world and diverse knowledge in various cultures to venture offshore or globally.
With that said, how do you keep them happy?
Technology. Embrace technology, that is the first step. Second, lend them an ear. Listen to their ideas and implement them if they are not, well, over-ambitious. Even the most junior ones among the millennials have transformational ideas.
Again, they value flexibility. Sitting in a traffic jam for hours and sticking to the 9 to 5 rule may not work well for them. If your business can afford it, let them have a little liberty on where to work from.
Another thing, because they are constantly seeking to learn something new constantly, and the way they want to feel like they are making a difference in the world, offering career development programs and developing a culture of social responsibility goes a long way in keeping them happy.
Lastly, the PAY. How to describe why they might just up and leave for they feel like the pay isn’t enough is almost impossible. Millennials have high expectations.
According to the 2017 Deloitte Millennial Survey, 38 percent of millennials expected to leave their current job within the next two years.
What this means is that they are mobile, and they thirst for versatility in the working industry, and if you are not ready or isn’t concerned about them altogether, don’t expect to appear in disruptive business competitions.