How Companies Can Appeal To Future Generations
A simple Google search of the term “Millennials” brings up a variety of articles about this often-misjudged generation. Some of the top stories are listed as “Don’t Believe The Hype About Millennials and Money,” “Millennials are no different than any other generation,” and even “Who Are Millennials.” To answer that question, Millennials are those born between 1981 and 1996 and the first generation to come of age in the new millennium according to the Pew Research Center. Today, more than one in three (35 percent) working Americans are Millennials. This means that companies must not only learn how to work with this generation but also appeal to them in order to continue growth.
Millennials have gotten a pretty bad rap and are often blamed for “ruining” things that previous generations worked so hard to set up. From “killing” casual dining chains to the housing market, or being lazy and unprepared, Millennials have endured the brunt of it all. Believe it or not, however, the stereotypes aren’t all true. According to a study from ManPowerGroup, members of this generation work harder than those before them, putting in more than 45 hours per week, with 21 percent having an additional job to make ends meet. As the retirement age continues to increase, 66 percent of Millennials are expected to work past age 65, with 12 percent of respondents saying that they likely will never retire. Given our constantly connected society, Millennials are blurring the lines between work-life balance, often checking emails and working during “off” hours.
Luckily for Millennials, those at the younger end of the spectrum (born in 1996) are likely finishing up their education or just now beginning their careers. It is now time for the next generation to bear some of the responsibility for the future of the workforce. Defined as “Gen Z,” members of this generation were born from the mid-1990s to the early 2000s and make up 25 percent of the US population. This generation doesn’t know a world without Internet and is characterized as “independent, realistic and tech-savvy.” Since most of the workforce will be made up of Millennials and Gen Z-ers in the near future, it is important for companies to not only figure out how to work with these generations, but also appeal to them in order to add and retain new talent.
The Forbes Human Resources Council, an invitation-only organization for senior-level HR executives across all industries, has some tips for companies to appeal to the next generation of workers. To read the full article, click here.
Create A Culture That Celebrates Technology And Social Media Savvy
Social media is an industry that many in previous generations are weary of. Since previous generations are more accustomed to traditional marketing and ways of doing things, sometimes they avoid change and innovation to stick with what they know. Believe it or not, social media is here to stay and capitalizing on this market can greatly help your business. Millennials and Gen-Zers grew up in the age of social media and saw the rise first hand. Additionally, they are tech-savvy and able to adapt and learn new technologies for the business.
Everyone hates millennials until it’s time to convert a PDF into a Word document
— Sara Valentine (@saramvalentine) September 18, 2018
Ask Questions To Get To Know Them Instead Of Making Generational Assumptions
As mentioned before, Millennials get a bad rap and there are a lot of false assumptions about the generation. Since Generation Z has not been around as long, there has not been an opportunity to make generalizations about their working habits and preferences. Instead of making assumptions (often false), Lotus Yon of Northwest Community Healthcare recommends to, “Just ask questions and listen for things you can learn from what they are saying to you. Seek out their strengths, not their weaknesses. Step out of your comfort zone.”
Surround Them With Mentors And Opportunities For Challenges
Millennials and Gen-Z might be working long hours, but they still value a work-life balance with flexibility. While the desire for this balance might cause previous generations to view them as lazy or unmotivated, that is not the case. The younger generations are more driven than ever to pursue their dream jobs. One of the ways they are doing this is through the help of career mentors. By participating in a mentorship program, whether at work or outside of the office, these conversations can help them see a broad perspective of their work.
Understand That They Ultimately Value The Same Things As Other Generations
Just because they were born in a different time, Millennials and Gen Z employees value similar things as the generations before them when it comes to careers. They value hard work, doing work that makes a difference, spending time with their family and pursuing their hobbies and passions. Sound similar to Baby Boomers and Gen X?