Business and the workplace/space are changing. When the Boomers start retiring, their roles will become filled by Generation X and the Millennials, Generations Y and eventually Z. As I mentioned, the base core values between these generations have polarised to the point where the traditionalists core value of Community/family (WE), moved to the Boomers core value of Money, to the Gen Y core value of Time and now, the Millennials core value of individuality (ME). Basically in an 80 year period we’ve moved from ideologies such as, “If it’s not good for the community, I’m not doing it”, to “If it’s not good for me, I’m not doing it”. And where will that leave our businesses, not for profit organisations, schools and communities?
Businesses who don’t keep up with these ideological changes will suffer, because Millennials are the next big spenders, and will provide the greatest number of workers. There’s lots of aspects for consideration, and these are just a few:
- How will businesses advertise to the Millennial market? Traditional advertising won’t work and they’re avid consumers.
- How will we keep Millennials in the workplace? They’re bored easily and like to move around which is very costly to employees. Millennials expect flexibility and praise, consider how your business will need to evolve in order for this to occur. Millenials don’t want bosses, they want mentors. What about ageism: Boomers -vs- Millennials – we need to understand one another in order to work co-operatively. It’s not that hard once you know how!
- How will we engage and maintain Millennials for volunteer roles. They have a higher social conscience than any other generation therefore, Millennials are willing to volunteer. In fact, there’s a growing market of tourism volunteering where the Millennials are paying a lot of money to go overseas to build orphanages, look after wildlife and do other hands on humanitarian work. If your not for profit organisation isn’t deemed worthy, how will you attract this demographic?
There’s a lot to consider. If you’d like to talk to a Now Generation consultant about how we can help your school, business, not for profit or community project, contact Lynette on 0400 595 679.
Want more information? Dr Maguire’s book Selfies, sexting, suicide and savagery: Welcome to the era of narcissism will be released in 2017. You can pre-order by emailing email@example.com.