As the millennial generation has begun to take over, they have certainly impacted more than just themselves. Young adults have forced changes upon the companies they work for and the companies that want to work for them. Younger adults have sort of a mixed reputation for both frugality and high expectations. Because these two characteristics don't always blend together easily, millennials have also become quite resourceful. The businesses that employ and serve millennials may need to become resourceful too in order to adapt.
How Millennials Can Change Business for the Better
In a recent segment of Mad Money, Jim Cramer talks about the impact that millennials have had upon business as consumers. He highlighted the recent announcement that Disney intended to pull its entertainment from Netflix in order to stock its own planned streaming service with content.
He said the company was really forced into this move because millennials have begun to prefer streaming services over traditional cable TV. Other recent industries that have been impacted by the generations of young adults include auto makers, food producers, and retail. In the long run, most of this disruption should actually lead to more sensible transportation, healthier food choices, and efficient distribution.
The demands of Millennial employees can also help companies evolve in positive ways. Younger workers want more autonomy and the sense that they make a difference; however, they often also desire to work collaboratively. Companies have replaced old-fashioned hierarchical structures with more decentralized authority with an increased focus upon sharing information in order to realize common goals. Millennials tend to view knowledge as a tool and not as power.
Staffing Talented Millennials
At ICS, we maintain relationships with our clients on both the employer and potential employee side. To provide staffing solutions, we gather lots of information that helps our clients make the best decisions about what roles to fill and who they should hire. As part of our mission we want to share this information with you. You can download our 2017 Salary Guide for free right now for more information on how to manage a blended workforce. If you have any questions, we're standing by to answer them.