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The 7 positive qualities of millennials that can help you improve your business

It is best for businesses to target the millennial generation. Here are seven compelling reasons to do so.
By Jim Moffatt |
The 7 positive qualities of millennials that can help you improve your business

Do a quick Internet search and you’ll find article after article suggesting (or accusing) the millenials (those born between 1983 and 2000) of being demanding, difficult to manage, and less qualified than they think. But some experts would assert that those are not true.

Deloitte Consulting LLP has done significant research into this generation. And what it has learned--and witnessed--is that they have traits that are amazing for business. That’s not to say that there won’t be some bumps in the road.

Related: Is the notion of a 'good work ethic' generationally biased?

Millennials don’t think about work the way their baby boomer or generation X parents and colleagues do. It has been well publicized that they don’t like the culture of cubicles and designated workspaces. They don’t value titles. If they fail, they don’t seem too bothered.

They are far more interested in things such as authenticity, individuality, and self-expression--not exactly things rewarded in corporate boardrooms, no less break rooms. And when it comes to ‘fitting into’ a company culture, they usually don’t think they have to--they’d rather shape the company culture to fit them.

But that doesn’t make them bad for business. Entrepreneurs may find a great opportunity with this generation. What millennials expect and want may make corporations better places to work and stronger organizations.

Here are seven ways any business can profit from the millennial generation:



1. They think of innovation as a science.
Millennials love to tinker and they are incredibly disciplined about innovation. A Deloitte Consulting 2014 survey found that 60% of millennials in the U.S. say innovation can be learned and that it is repeatable, rather than spontaneous and random.

 


relaxed_498245_640.jpg2. They believe in the profit motive.
Millennials said that it is acceptable for businesses to make a profit from innovations that benefit society, especially if it’s done ethically and has a positive social impact.

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3. They could build a business.
In a Reason magazine survey, 55% of millennials say they’d like to start their own business one day and 61% say hard work is the key to success. The Deloitte Consulting survey showed that roughly 70% of millennials see themselves as working independently at some point, rather than being employed within a traditional organizational structure. Capturing that entrepreneurial spirit can energize your business while these future leaders are beginning to build their careers.

Related: Why millennials don't trust ads, real estate or social security

 


4. They’re motivated.
As a generation, millennials have a lot of education and a lot of debt. The Pew Center says that the millennials have higher levels of student loan debt, poverty and unemployment, and lower levels of wealth and personal income than the generation Xers and baby boomers at this stage in their lifespans. A generation this hungry to work is a generation that will work very hard.

 


5. They hate bureaucracy more than you do.
CEOs usually want to build a culture of innovation and risk-taking and get rid of bureaucracy. They’ve got a friend in millennials, who, according to the same Deloitte Consulting survey, believe that the biggest barriers to innovation are management attitude (63%) and operational structures and procedures (61%).

 


6. They will put some muscle into your corporate culture building.

Every company wants a more authentic and stronger brand, especially when it comes to community involvement. But how can you actually achieve it? Hire some millennials, because it matters a lot to them.

According to the Case Foundation, one of the top motivations for millennials to stay with their current jobs was belief in the company’s mission and purpose--a belief that rests on outcomes achieved, not just promises made.

 


7. They want to lead, and we all need more leaders.
Our survey showed that almost one in four millennials are ‘asking for a chance’ to show their leadership skills. Additionally, 50% believe their organizations could do more to develop future leaders. It is hard to find an organization anywhere that wouldn’t want to build a stronger cadre of leaders, ready to take on new challenges.

Most C-suite leaders think that there are going to be many strategies to achieve ideal outcome, but one thing every business has going for is this: It can recruit its troops from a generation that will give leaders an opportunity to win.

Related: Trying to manage millennials at work? Here's how Facebook does it.

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This article originally appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editor.
  

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