Millennials changing the world | Aspired Steps

The Millennial Generation(1) Approximately 10,000 Millennialsturn 21 everyday in America. [TIME]

The Millennials are the largestgeneration on our planet. As the Baby

Boomers taught us, the larger thegeneration, the greater the influence

over norms, expectations and behavior.With the Millennials comes mega

change…

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The Millennial Consumer(2) By 2018, Millennials will have the

most spending power of anygeneration. [Bazaar] (3) Their annualspend in 2015 is expected to be $2.45trillion and by 2018, they will eclipseBoomers in spending power at $3.39

trillion. [Oracle]

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Mobile commerce will be a hugecontributing factor to the 3.39 trillionas (4) 41% of Millennials have already

made purchases with theirsmartphones. [Edelman Digital] If your

website, product or service is notmobile ready…good riddance.


(5) 48% of Millennials who say word-of-mouth influences their product

purchases more than TV ads. Only 17%said a TV ad promoted them to buy.

[Intrepid] And where do you think theyget this word-of-mouth influence?

Social media – duh. (6) 63% stayupdated on brands through socialnetworks. [Ipsos] And (7) 43% have

liked more than 20 brands onFacebook. [Mr Youth]. A social media

presence these days is a must tocapitalize on Millennial spend.

The Millennial Student(8) Millennials are the most educatedgeneration in American history with

over 63% of Millennials having aBachelor’s Degree. [Millennial

Branding] How will you stand out intoday’s over crowded talent pool.

(9) 50% of Millennial college studentssay they don’t need a physical

classroom. (10) 53% believe that onlinecolleges are reputable. And (11) 39%

view the future of education as beingmore virtual. [Millennial Branding]

Eventually how can you expect them toneed or want a physical workplace?

The Millennial Entrepreneur(12) 21% of freelancers are still enrolledat a university. [Odesk] Millennials are

capitalizing on their talents and passionwith today’s technology and connected

economy. Find your side hustle.(13) 90% of Millennials surveyed thinkbeing an entrepreneur means having acertain mindset rather than starting a

company. [Odesk]


(14) 54% either want to start a businessor already have started one. [KauffmanFoundation] Today’s digital age makesit easier than ever before to launch a

business and market to the world.


The Millennial Employee(15) By 2025, 3 out of every 4 workers

globally will be Millennials. [Time] Whynot starting building your company

culture to appeal to Millennialsnow…since it’s going that way anyway.

(16) 89% of Millennials would prefer tochoose when and where they workrather than being placed in a 9-to-5

position. [Odesk] And (17) 45% ofMillennials will choose workplace

flexibility over pay. [MillennialBranding]

(18) 56% of Millennials won’t acceptjobs from companies that ban socialmedia. [Cisco] Learn to embrace the

social web. Denying them today’stechnology leads to resentment.

(19) Average tenure for Millennials is 2years, compared to 5 years for Gen Xand 7 years for Baby Boomers. [Pay

Scale / Millennial Branding]


To keep Millennial talent, rethink yourcurrent company culture and find waysto infuse more flexibility, technlogy andsocial-ness…otherwise, be prepared topay the price. (20) It costs an average of

$24,000 to replace each Millennialemployee. [Microsoft / Experience

Inc]


The Millennial Leader(21) 63.3% of U.S. executives will beeligible to retire in the next 5 years.[PWC] Generation X is not a largeenough generation to fill this large

leadership gap. Many Millennials willhave to leap frog into these positions.

Have you prepared them?

(22) In the last 5 years: 87% of Millennialworkers took on management roles, vs38% of Gen X & just 19% of Boomers.[EY] Change will accelerate as more

and more Millennials enter leadershiproles.


Source: http://ryan-jenkins.com/2013/09/16/22-shocking-stats-about-millennials-to-help-you-chart-tomorrows-change/

Millennials changing the world | Aspired Steps

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