Wednesday, February 17, 2016

Millennials may be the best prospects and recruits for owning their own business

Perhaps it is a dichotomy, or merely just a stereotype that has enough fuel to become accepted in the mainstream, but society has already labeled millennials for specific traits that are intrinsic to their generation.  And one thing is for certain for this group that emerged from parents of the 'greed is good' 1980's, and that is that the new largest segment of the workforce is willing to walk from a job if it is not satisfying for them, or where they are unlikely to reach long-term goals in a short amount of time.

And while this assessment may sound harsh, like with all things every thorn is attached to a budding flower.  And since mainstream society and the corporate world are both unlikely to change anytime soon since they are ruled mostly by stubborn elders set in their ways in how things are supposed to be, it makes the millennials extremely attractive to the new economy that is based not on working for others, but instead in working for themselves.

Infograph courtesy of Presto Marketing Group
A recent Deloitte survey found that two-thirds of millennials across the globe plan to leave their current organization by 2020 and one-quarter plan to change companies within the next year. 
One reason millennials, who now make up the largest segment of the US workforce, are driven to job-hopping is that they don't see enough opportunities for leadership development. But there's a second reason behind millennials' restlessness — and it's considerably harder to fix. 
The problem is what Deloitte calls the purpose gap, and it refers to the difference between what millennials want out of business and what business offers them.According to the survey, 87% of millennials believe that the success of a business should be measured in terms of more than just its financial performance. 
So what kind of metrics do they value? 
The important business outcomes that millennials feel their organizations are neglecting include: improving the skills, income, and satisfaction levels of employees; creating jobs; and providing services and goods that make a positive difference in people's lives. - Business Insider
Remember the real rule of business ownership... it is not always about money or the accumulation of material wealth that is the carrot we dangle in front of a recruit, but rather it is about relationships and building your message to what each prospect can achieve through the business in the pursuit of their desired goals for themselves, and not always in what you or I want believe those goals should be.


Post a Comment