A new generation is taking hold of business. They are the millennials, and in less than six years’ time they will make up 75% of the world’s working population. But their rise to power isn’t just a generational shift.
Millennials are angry. They won’t have pensions, won’t have houses and will earn less than those before them. The ambitious environmental and social change their parents’ generation promised hasn’t fully materialised. The difference is, millennials are committed to doing something about it.
They’re the grassroot generation driving social change – and this desire to make the world a better place is mirrored in their expectations of businesses.
Three quarters would take a pay cut to work at a purposeful business and the overwhelming majority (93%) choose products based on whether they are being sold by a purposeful company.
When Governments are receding their responsibilities, from climate change to caring for their communities, millennials expect companies to say: we’re still in.
And while this desire to change the world for better isn’t unique to millennials, unlike previous generations they’ve made purpose over profits cool.
Meeting the millennial manifesto will soon be business critical for companies and organisations. If you want to attract and keep the best talent, if you want to build brand loyalty and continue to grow, and if you want to build trust with the millennial generation, being purposeful is non-negotiable.
This is why we’ve created the millennial manifesto. A brand new, insightful compendium of millennial insights, advice on how to meet their expectations as brands and employers, and case studies of purposeful innovations from companies around the world.
If you’d like to discuss further, please get in touch.
Paul Afshar, Head of Purposeful Business
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August 1, 2019