June 1, 2019 Last updated June 6th, 2019 58 Reads share

5 Ways Millennials are Changing the Business Economy of Today

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Millennials are the generation that is shaping the business landscape in the world. Currently, people that belong in this group are the biggest workforce legion that supports and change everything.

Why millennials are so special? What impacted their behavior and personality?

Millennials, who also are known as a Generation Y or Gen Y, are special because they are born and are living in a period that has been shaped by new technology and communication platforms. These conditions impacted how they think, their creativity and how they build and grow business. Today, everything is happening in the online world.

Businesses, offer their products and services online and they completely abandon the physical stores and the old ways. Nowadays, it’s easy to create a website with a website builder for service business and offer your value on the market. Having all of these opportunities affected the business community and improved how we do everything business wise.

Millennials are the ultimate game changers, here is how they reshaped the world in the last 30 years.

1.    Modern Work Environments

Working 9 to 5 is a thing from the past. Flexible working hours is something that is practiced these days. We all have different habits and ways of doing things, flexible working time is here to support that uniqueness.

Millennials figured out that micromanaging and too much control is demotivating people at their working places. What we all need is the freedom to arrange our working hours the way we want to and work whenever we feel like it during the day.

This change gave us more productive and effective workers and a healthier working environment. The new environment also offers full employee nurture by offering free healthy food and sports.

2.    Social Conscious Companies

In the past, we’ve witnessed an economy where it was all about the profits. Business owners didn’t really think about the effects of the environment and how they can help the society they operate in.

Luckily, things have changed. Millennials know that is important to support the environment. We are all part of this world and we need to work together to improve it and make it a better place for living.

All the new companies, modern startups help society in some way. These actions not only help us in building a better future but it also affects the mental health of the employees of the company in a positive way.

3.    Diversity and Inclusion

Finally, after years and years of struggle and fight, businesses are treating people with different backgrounds equally. Things have not improved 100% unfortunately, however, we are living in a time where most of the companies are treating all races and ethnicities the same in the work environment. The results and the skills are all that matter, physical form is a thing from the past.

4.    Ideas Matter

Millennials are creative. They support the opinions of their employees and allow creative expression. The old way of conducting tasks is gone. We value more leaders, art and fresh ideas. Creativity is the main pillar of each company regardless of the industry it belongs to. You can apply creativity in almost any business segment.

5.    Working Smarter

Doing things faster is something that has been part of the new millennial businesses. We have the tools and the technology to support the processes better, therefore, we are able to perform business task faster and be more efficient. Ultimately, millennials managed to increase efficiency by 50% with using new project management tools, smartphones, computers, and technology overall for the business activities.  Since things became digital, we are able to do a lot more and do it in a smarter way.

Clayton Johnson

Clayton Johnson

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