Nowadays, the millennials, as a whole, is playing an increasingly important role both in the workforce and in the market. They are a new generation of employees as well as a distinct segment of customers for companies. Here, I want to examine the impact of the millennials in some aspects of business.
As employees, the millennials are more creative and tech-savvy than older generations. Therefore, they will improve companies’ ability to innovate internally and get work done in a more technological way. To attract and retain the millennials as employees, companies also flatten the organizational hierarchy to satisfy their desire for leadership and transparent work environment.
Recognizing the millennials’ preferences of channels is crucial for companies to conduct customer survey and launch marketing campaigns. According to the research, the millennials are “die-hard fans” of the social media. Sometimes it is more direct and effective for companies targeting on the millennials to advertise on social media platforms. We can see more and more enterprises choose to promote their product or service on Facebook or Twitter rather than spend a large amount of money on TV commercials.
Does companies prepare enough to welcome the boom of the millennials?!
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