Here Come the Millennials
The largest living American generation is ready to take the business world by storm — but they’ll do it their way.
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Another suggestion she offers is to let millennial employees serve on company committees, maybe even establishing junior committees to tackle some issues in the workplace. And, she adds, “they will work hard if it’s important to them. Incorporate those things that are important.”
Still, when millennials get into their first job situation, employers may often have to start out teaching some of the basics.
Cory said some of her interns have had to be taught how to properly answer the phone and how not to rely on texting for everything. (She even had an intern resign by text, telling her, “I’m not happy working here. My key’s on the desk.”)
And, when the economy is good, she knows they could leave their job in a heartbeat for a better opportunity. But she knows that older employers will have to learn to adjust to the new workers they’ll be encountering and the new consumers their businesses will need to connect with to survive.
“I’m going to have to adjust,” Cory says. “If I’m going to grow my business, as an employer I’m going to have to put on a different mindset. I’m going to have to adjust to them.”
Ask a millennial the last time he or she walked into a bank and they might not even remember. They are in the forefront of online banking — a 2014 survey by Citibank revealed that 20 percent of their customers under the age of 40 don’t have a checkbook — and use their smartphones for some of the most vital tasks in their lives. Staying in communication with friends and family? Don’t call. Text. Or better yet, send a photo or video via Snapchat.
The Magic Mirror, a way for customers to see how clothes will look on them without trying anything on.
Courtesy of Neiman Marcus
“They’re moving away from email. They’re using all these messaging apps, like Snapchat. It really is a very new world out there,” says Randi Zuckerberg, sister of Facebook founder Mark Zuckerberg, who is a New York Times bestselling author and founder and CEO of Zuckerberg Media. “Not every business needs to be on Snapchat, but they need to understand the why of this huge trend and how to be better about recruiting and hiring millennials.
“The new generation of consumers likes to share things more than buy. They don’t buy cars, they prefer experiences over material objects. So these are things businesses need to understand if they are going to be successful. It really is a very new world out there.”
Some businesses are trying to prepare. A 2015 survey for Transitions Optical began tracking the attitude of millennials toward their eye doctors and eyeglass preferences.
“Cultural sensitivity, giving back and having the freedom to express their personal style all emerged as being highly valued among millennial eyeglass wearers — and are also core values of growing ethnic minority groups that make up such a large portion of this generation,” says Patience Cook, director of North America marketing for the optical company. “This reinforces the importance of eyecare professionals embracing multicultural outreach efforts and paying attention to trends in this area.”