Pay Attention to the Millennials. Their Career Ambition is Your Next Best Bet.
Despite graduating with an enormous student debt and entering the job market during the worst economic downturn of our time, Americans born between the early 1980s and the early 2000s are quickly surpassing baby boomers in their economic power. According to AdAge, Millennials are expected to spend more than $200 billion annually starting in 2017 and $10 trillion over the course of their lifetimes. As Millennials transition into management roles, they are simultaneously becoming the largest and the most influential generation in the workforce.
Think Millennials aren’t cut out for your company culture? Think again.
They are Motivated by More than Money
According to a to a study by UNC’s Kenan-Flagler Business School, Millennials are motivated by meaningful work (30%) and a great sense of accomplishment (25%). One out of three survey respondents said they would prioritize social media freedom, device flexibility, and work mobility over high pay. Their geographic mobility and desire to work abroad (71%) highly determine their flexibility and adaptability to any work environment.
They Are Natural-Born Leaders
92% of 20-somethings surveyed said they are committed to entrepreneurship and agree that owning a business is vital in today’s economy. 30% said they started their own company in college, and 35% currently have a side business. Their leadership awareness and entrepreneurial spirit empowers them personally and provides the emotional intelligence necessary to inspire others.
They Can Develop Your Brand’s Social Media Voice
Since Millennials spend the majority of their life connecting on social media, they have an enormous ability to influence thousands of peers by telling stories, posting photos, and providing opinions - if they are passionate about your cause. Their voice is as powerful as their “friends of fans,” a following that is 34 times larger than fans themselves. If you can motivate your Millennial employees to care about your cause and become your brand evangelists, your company has a huge potential to expand its social reach.
They are ‘Digital Natives’
A recent study found that young consumers switch their attention between digital media platforms, devices, and apps on average 27 times per hour (compared to 17 times for previous generations). While their ability to quickly shift attention from one thing to another may be quite worrisome for marketers, it can be a great benefit to companies that embrace multitasking and collaboration in the workplace.
They Want to Grow with You
According to the same study, 52% of Millennials are attracted to organizations that offer opportunities for career growth and personal development. Attending job-specific trainings and industry events is one of the most influential factors in the current job for many young affluent people. Just imagine the amount of knowledge that can be willingly infused into every aspect of your organizational structure.
Still on the fence about hiring Millennials? Just think, by leveraging their strengths and engaging their talents, your company can gain the great benefit of molding an intelligent and loyal workforce that will ultimately contribute to a positive change in today’s economy.
Your journey in hiring the best people starts here.