What are Millennials and How are they Beneficial for Business?

Millennials: Basic Breakdown

  • Born in between the years 1981 and 2000
  • Also known as Generation Y or Digital Natives (Forbes.com)
  • “They are the most ethnically and racially diverse cohort of youth in the nation’s history. Among those ages 13 to 29: 18.5% are Hispanic; 14.2% are black; 4.3% are Asian; 3.2% are mixed race or other; and 59.8%, a record low, are white.” (Pew Research Center)
  • Digital media such as Facebook, YouTube, Google and Wikipedia are everyday parts of Millennial’s lives. (Pew Research Center)

Pew Research Center describes Millennials by saying, “Generations, like people, have personalities, and Millennials – the American teens and twenty-somethings currently making the passage into adulthood – have begun to forge theirs: confident, self-expressive, liberal, upbeat and receptive to new ideas and ways of living.These descriptive qualities alone should make them desirable for any business, but because of misunderstandings and misconceptions about the Millenials, many businesses are missing out on a valuable resource.

How and Why Millenials can Benefit a Business

  • SOCIAL MEDIA

 Millennials are born and raised in an age where the digital reality is just as concrete as physical reality. Not only are most Millennials privy to the latest social media, but they also are able to understand and manipulate it quicker and more organically than those of a previous generation. Hiring a Millennial as an advertiser or apart of the business’ marketing team can only benefit the business, because the Millennial member will be able to see all the different avenues to utilize social media in tandem with print and other mediums to provide an all encompassing marketing view of the business.

  • DESIRE/COMPETITIVE SALARIES 

Millennials are currently graduating from college or graduate school and discovering that finding a job is harder than it’s ever been. “For staffing firms, this means having a highly skilled, highly educated pool of available candidates who are likely to take assignments that more experienced workers might not accept, at salaries that are more competitive — and aligned — with current market conditions.” (Monster Jobs) Because it’s so hard to find a job, the candidates are filled with desire and a competitive spirit to compete and prove themselves.

  • CREATIVITY/FLEXIBILITY 

Because Millennials are used to an ever changing and evolving digital community, they are used to a certain amount of flexibility that helps them creatively consider options. Millennials also are exposed to a large amount of digital media during the day and therefore have a good concept of how to reach other Millennials and make them pay attention and take notice even through the digital clutter.

 

Millennials bring to the table many different aspects of personality and thought process that are different from their predecessor generations. It is imperative that businesses learn how to best utilize the different generations of their employees and access the different generations of their customers.

To take the “How Millennial Are You Quiz” offered by Pew Research Center go here. 


 

 

 

 

 

email