THE MILLENNIAL GENERATION
MILLENNIALS ARE IMPORTANT AND COMPANIES MUST ACT NOW.
There are 92 million Millennials consisting of individuals born between 1980 and 2000. They are the largest generation since the Baby Boomers, who are beginning to reach retirement age. Companies must ensure that they are ready to have 50% of their workforce comprised of Millennials by 2020 and up to 75% by 2025. The sheer size of this generation also means their purchasing power is only going to continue to grow. Companies must prepare to properly engage and capture the hearts and minds of this new generation of customers, the 92+ million Millennials.
To put it into perspective: In 9 years 3 out of 4 people you hire will be Millennials.
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Millennials place a sense of purpose around people rather than on growth or profit maximization.
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41% of Millennials prefer to communicate electronically at work rather than face to face or over the phone.
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“If your company is not obviously the “it” place to work, then you better figure out what to do to make it compelling for highly marketable people to work there.
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“Creating an environment where Millennial employees feel supported and valued by the leadership will lead to increased productivity and valuable relationships.”
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2 in 3 Millennials expect to leave their jobs by 2020.
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Over 6 out of every 10 Millennials say that they are more likely to become a loyal customer if a company engages with them on social networks.
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By 2020, millennials as a group will pump $1.4 trillion into the economy.
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75% of Millennials are willing to let brands use data from their past travel purchases to deliver a more personalized experience.
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“Millennials are prioritizing their cars and homes less and less, and assigning greater importance to personal experiences. ”
“This is the biggest generation of travelers. They’re larger than Boomers or Gen X, and they travel much more, and they’re more passionate about it.
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“75% of millennials are interested in traveling abroad as much as possible versus 52% of non-millennials.
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