Millennials - Carpe Diem

Companies hiring Millennials and marketing to them need to understand the characteristics of this generation that  believes in seizing the day and possesses a unique sense of self. With the Millennials, there is a big switch in priorities and values from the smaller Baby Boomer generation. Where the Boomers' main focuses were family and practicality, the Millennials are about inward focused values; happiness and discovery. The Millennials are working  on amassing life experience and less on tangible assets. They are not approaching adulthood as the previous generations and this would be mainly for two reasons:

1. The economy; the adult milestones (job, wedding, home, kids) are not as easy to attain as for the previous generations. 

2. Options; the Millennials see limitless possibilities and are much more open to living abroad. 

Marketers need to engage the Millennials in order to gain their affinity. This entails understanding their values; happiness, diversity, discovery. Marketers will be more effective "informing" the Millennial rather than marketing to them. This generation will have a greater affinity for companies and brands that stand for more than their bottom line. What makes the process of understanding the needs, values and wants of this generation easier is that this is a highly tech savvy generation where the majority feel responsible to share feedback.

What becomes more of a challenge is for companies hiring Millennials. In the 2016 Deloitte Millennials Survey, 27% of this generation plans to stay at their current companies while 66% plan to leave in the very near future. This is a huge challenge given that in 2020, this generation will make up the largest part of the work segment.  Here are some of the ideals that need to be addressed with this generation in the workplace:

1. Huge majority of Millennials believe that the success of business is to be measured in more than just financial terms.

2. They are not as impressed with titles; and majority believe in "ideaocracy" and not hierarchy; where idea generating reigns over hierarchy.

3. Very strong on life/work balance; requiring flexible hours.

4. It's not all about money; there is a strong need for creativity to be valued.

5. Casual dress codes and environments are in line with the need to be themselves. 

Time to gather up the readily available information and get "on fleek" with the Millennials; talk their talk!