It’s time you find out how THIS generation is impacting your business, and your success
By PETER ECONOMY
While the members of Generation Z (anyone born after 1993) are beginning to show up on the radar screens of businesses around the world, Generation Y (people born in the 80s and 90s) is now firmly established in the workplace and is a force to be reckoned with.
In her book, Knowing Y: Engage the Next Generation Now, marketing and media expert Sarah Sladek explains, “This tech-savvy, globally minded generation isn’t joining, buying, networking, learning, or engaging like other generations.”
Gen Y really is different. Here are some stats that help explain what makes the members of Generation Y tick:
- 92% believe that business success should be measured by more than profit
- 80% prefer on-the-spot recognition over formal reviews
- 61% feel personally responsible to make a difference in the world
- 50% want to start their own business, or have already done so. Two years is their average employment tenure
This might interest you: 3 Practical Steps To Winning Over The Next Generation Workforce
According to Sladek, members of Generation Y…
- Hate to be sold anything – How will this affect the way you sell your products and services to the members of Gen Y?
- Have always been rewarded for participation and not achievement – How can you inspire and motivate your Gen Y employees?
- Don’t seek to acquire stuff – How can you pitch your products in a way that neutralises this trait?
- Can self-organise friends for grassroots activism – How can you leverage this skill within your Generation Y employees to promote teamwork?
- Trust peers first and parents second – How can you build trust with the Gen Y members of your team?
- Actively research prices and read reviews before making a purchase – How will you ensure your product or service is the one that Gen Y customers decide to buy?
- Are driven by a desire to make a difference – How can you recruit and retain the best Generation Y employees?
- Expect exceptional service – How can your business deliver service that is consistently above and beyond your competitors?
- Seek to do business with ethical, trustworthy organisations – When it comes to being ethical and trustworthy, do you walk your talk?
- Value customisation – In what ways do you enable customers to tailor your products and services to their unique desires and needs?
- Remain detached from institutions, but closely networked with friends – How effectively do you use social media to build and promote your brand and your products and services?
Peter Economy has written more than 80 books on a variety of business and leadership topics. To connect with him, email him at editor@leaderonomics.com.
Reposted with permission on Leaderonomics.com.
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