The Future of Buisness in a Gen Y World – What to Expect

The Future of Buisness in a Gen Y World – What to Expect

This blog continues our Youth Marketing Initiative Series – an exploration of relevant topics designed to help enlighten and inform today’s businesses wanting much-needed direction on establishing brand awareness and a social connection to today’s youth demographic.

Please read our introductory blog about this series…

In our last blog, we spoke about Generation Y becoming more career savvy – they know what they want, they believe they can achieve it, and they are actively planning to do just this. Employers the world over need to consider how they can harness Gen Y’s optimism and ambitious drive to get the most out of this increasingly powerful demographic.

Businesses need to recognize that the workforce is changing and make adjustments to manage this change. In fact, employers who have reportedly modified their policies in order to appease their Gen Y employees have seen positive results. More flexible work schedules and new recognition programs have been the main focus. They’ve come to the realization that the way to employ and manage staff is changing.

Simply put, if you want to breed success, you must first establish the right environment.

Please Read our Blog: What Generation Y Really Wants…

Generation Y’s love of a challenge and their adaptability to change make them extremely valuable resources. Gen Y staff bring a breath of fresh air with them to the workplace along with their creativity, productivity and efficiency. They’re an important part of the workforce and more and more businesses are reaping the rewards from their employment.

Young professionals now have a lot more career options and tend to be more transitional; with long term commitment to one business not a priority. Gen Y wants to help your business grow, and even if they don’t plan on staying for very long, their influence over who replaces them and the future customers your business generates shouldn’t be taken lightly.

Growth and success of your business is influenced by your ability to attract and retain staff. If a business is not managing its staff effectively it will remain owner reliant and limit future growth.

Companies cultures, therefore, need to evolve with each generation. It’s part of changing with the times. And yes, as the song goes, the times they are a changing. Just how much Gen Yers and their employers will accommodate one another has yet to be seen. One thing all workers, regardless of their age, should remember is that any new perks are available to everybody for the benefit of the company.

Technology is largely responsible for the shift in expectations and employers’ willingness to adapt to them. Some of the world’s most visited web sites, such as Facebook and YouTube, made their creators millionaires before their 30th birthdays. For some Gen Yers, this is ammunition when entering the work force.

Companies desperately want to be a part of the Web 2.0/user-generated content/YouTube phenomenon. Who better to guide that shift than Gen Y? After all, they not only grew up during a technological revolution, they participated in it!

It’s an established fact that 90% of Gen Yers over the age of 18 use the Internet. 75% use social networking – Facebook, Twitter, LinkedIn, etc. 60% of them access the Web wirelessly while on the go. 83% keep their cell phones nearby, day and night, awake or sleeping. And two-fifths don’t even have a land line.

Would Apple’s iPad and other mobile tablets have been so successful if it weren’t for Gen Y’s appetite for new tech?

It would be wrong now to say that this Generation is hardwired, when in fact they’re wi-fied!

The economy has no doubt brought a new set of challenges in terms of job security and salary expectations, but if your business is working towards adapting, there’s no reason why it can’t emerge more strong and vibrant. We’re only as good as the people we work with. It’s time to face the truth. Start building on everyone’s strengths – you might be pleasantly surprised by how far it will get you.

For more information about Collegiate Marketing Group and the various services this agency offers, including youth marketing, social media and communications services, please continue to visit and connect via the Quick Connect form.