When it comes to having your business be portrayed in the most positive light, it is important to keep in mind the differences businesses may have with its consumers. Deloitte’s 2015 survey of millennialsdelve into their opinions about businesses in developed markets – what businesses are doing right and what could be improved upon. The company surveyed 7,800 millennials from 29 different countries on how market leaders can make significant changes to attract and retain future workers and leaders. Here is what they found:
The Intention Gap
Millennials overwhelming believe that businesses have not so good intentions when it comes to satisfying their own agenda. However, this does not mean that they believe businesses are selfish, with around the same amount of people believing that most businesses are having a positive impact on society. Businesses should take this judgment into mind by promoting an environment that reaches and acknowledges things outside their business and focus on what is going on around them in society to bridge up this intention gap.
The Leadership Gap
Millennials have a strong desire to lead, but their intentions are not for profit. They are more likely to focus on people, instead of focusing on profit and personal reward. According to the survey, this demographic is more in tune with judging a company’s leadership skills by analyzing the well-being and happiness of employees and seeing how they grow and develop than meeting short term financial goals. Therefore, millennials are attracted to businesses that focus on the happiness and development of their employees as opposed to making a large profit.
The Impact Gap
Lastly, millennials are interested in businesses that stand for a purpose larger than them. Often, the purpose and impact of a business can be grouped together, but millennials them as two separate goals. They view purpose as what a business should be doing and impact as what they are actually doing. Millennials want to work for and buy from businesses that hold their goals for improving society or standing for a bigger cause to a high standard.
