Millennials as Digital Natives and the Future of Business
This world is full of people coming from different generations that have different values and views of how things should be done. Millennials have been joining the workforce for a couple of years now and they already have a significant impact on it. This is the last generation to join the business environment and specialists have said that they will change it as well, making things easier for generation Z when they will be old enough to join the workforce.
Millennials are also called digital natives and represent the first generation to adopt digital technologies and behaviors early in their lives.
Who are Millennials?
Millennials are separated in the history by the moment when we welcomed the new millennium. These are the kids born between 1980s and 2000s. Their most influential moment was the change of the millennium which actually paved the way for a newer, more exciting world. Millennials are aware of the part they play in the business field. They want different things than the generations before them; they rise to higher levels and are well-educated and look for more value in their lives as they have more time to search for the true purpose they have to serve on the planet. Millennials are the biggest demographic group historically and, by 2025, they will expectedly make up almost 75% of workforce in offices. With this thought in mind, we should get ready for a world where Millennials will have decision power – this will definitely change the business environment as we know it.
What do you mean by “digital natives”?
Digital natives is the name, which was at first given to Millennials, that represents digital change. The next generations coming after Millennials are also called digital natives, as this nickname is not limited to Millennials only. Digital natives are called this way because they witnessed the world changing in their lifetime; they are the kids who grew up with internet, Facebook, MySpace, YouTube, iPhone and other smartphones. They did not just grow up with these digital tools, but also saw their invention and evolution. They became part of the digital rise all over the world and they are used to think, act and speak digitally as well. More than their parents, digital natives are open to change, more dynamic, and more tech-savvy. They are the kids of the future and, at some point, they will change and rule our world as we know it.
Business influence in the present
Businesses have risen and fallen throughout the history, but lately, businesses are very much influenced by the digital revolution. Some businesses have already started to fall due to the evolution of the tech world we live in, while others have risen just because of that.
Businesses based on digital tools or that have adapted to these digital tools (industries like marketing, IT, tech, advertising, medicine, construction) have grown tremendously in these years. In fact, they will continue to see improvement as the digital world helps them thrive and always find new ways to reinvent themselves.
Businesses that depend solely on physical customers and sell goods which are difficult to access will fall in the next couple of years if they will not adapt to the digital world we now live in.
Today, there is more competition in the market than ever, given that the internet has made it so much easier to sell goods and connect with the customers. So, in order to stay relevant in this digital world, it’s important to always upgrade your business and fulfill the changing needs of your target audience. Besides, it’s also important to always look for new target audiences for niches where you can go and sell your product, and stay authentic. Being authentic always works.
How will Millennials change the business environment?
Millennials have already taken over the workforce and specialists say that, by 2025, they will make most of the existent workforce. So, how will they change the work environment? As we have witnessed over the years, Millennials need flexibility with their work schedule more than any other generation. They do not value the 9 to 5 schedule as much as Baby Boomers, for example, but are more adaptable and need to have space to move and do their own thing. They are already asking companies for more flexibility at the workplace and, probably, when they will get most of the manager positions, they will implement such a system where work hours will no longer be set at 9 to 5. Rather, work schedules will be more flexible and adapted to everyone’s needs than ever.
Plus, Millennials do not always prefer to work at the office and, given their need for flexibility, they also need to be able to work remotely most of the times. Therefore, they are also asking for more work from home days or to be able to work while they travel, for example. They do not value the physical presence at the office as much and rather consider it important to find their own pace with work. Millennials are competitive and capable, so they will probably change the work environment into a more open place where jobs can be done from everywhere. The future work environment might not necessitate your physical presence at work and you can be a hired freelancer all the time.
Millennials also appreciate technology and prefer everything to go digital. So, there is no wonder they are called the digital natives. They like to see how new technologies work; they want to learn about the latest developments and have the latest technological tools at hand to make work look easy. Therefore, it is likely they will invest in more technology for the companies they will run in the future and focus more on creating than on doing.
Another important thing for Millennials at work is personal and professional development. They value companies that invest in their professional growth. They like trainings, courses, and adopting new skills. They believe this is extremely important if you want to stay motivated at work. So, when they will run the workforce in a couple of years, they will definitely improve this part of an employee’s work life. Investing in professional development makes employees more confident and loyal and they will definitely deliver better.
So, these are some ways in which Millennials will change the workforce in future. These changes are expected to take things in the right direction and will prepare us for the coming of the next generation, the Generation Z.