Never mind marketing to millennials… what about managing them?

Never mind marketing to millennials… what about managing them?

Categories: Brand, Marketing, Recruitment

Such has the obsession got with targeting millennials to buy our stuff…

…trying to ‘make things go viral’, ‘creating digital waves’ and ‘cross-pollinating on a global scale’, we seem to have forgotten that this generation are reshaping the workplace as well as the marketplace.

They are the first generation to start their jobs with a better handle of the key business tools than most of their senior colleagues and they have a completely different set of characteristics to the generations before them.

What’s important to millennials at work?

  • They love technology, hate information silos and would rather communicate electronically than by phone or in person
  • They want lots of feedback
  • They need varied and interesting work
  • They have huge career aspirations, ambition to keep learning and get promoted quickly
  • They’re attracted to brands and have a waning interest in CSR but want to see companies back-up policies like ‘diversity’
  • They place more importance on health and personal needs
  • They’re keen to work abroad at some point
  • They look for new opportunities as they’ve seen that loyalty doesn’t necessarily equal security or more reward

Goldman Sachs defines a millennial as someone born between 1980 and 2000 and says that by 2020 they will make up 50% of the total global workforce. They’ve started their working lives in a time of economic crisis and feel that they have been compromising to get roles. However, as the economy improves, their willingness to settle for less will decline and companies that will win will have worked hard to understand what is required to attract and retain this generation.

A focus on brand (in recruitment as well as marketing), ditching the rigid corporate structure and creating a flexible environment with work / life balance will be crucial to ensuring you draw in and keep the cream of the millennial crop.

Source: Goldman Sachs

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