Russell’s Ramblings

Those who do not hear the music might think the dancer mad

The Millennial Generation – Shaping the Marketplace and Workforce

millenials_splashQuickly taking their place in the workplace is a new generation of workers – The Millennials.  Born between 1977 and 1998, approximately 75 million Americans can be identified as a Millennial. This demographic, representing, one-third the total U.S. population in 2013, is changing the way companies brand products and having major impacts on management and marketing.

Recently I was listening to a program on one of the Charlotte radio stations as they interviewed an authority on the Millennial Generation.  Large food retailers such as McDonalds are already taking note of the buying power this generation represents. It was pointed out this group was much less likely to be swayed by traditional brands, instead relying on recommendations from close friends.

This generation is the first to have access to the Internet during their formative years.  They have grown up with the world at their fingertips in an age of instantaneous information.  They are also the generation that will shape our economy for the next few decades.

Millennials are not just connected via social networks, they value the role they play in the community.  A 2013 poll found that this group, also known as “Generation Y”, was more open minded than their parents on controversial topics and are very civic minded.

Last fall, the Chamber created the Lake Norman Young Professionals, a program specifically for young people ages 18 to 39 inclusively. The group is composed of chamber members or employees of chamber members who meet monthly to network, enrich their personal and leadership skills through informative programs, and work together on community projects.

They utilize Face Book and a website to organize meetings and provide an important resource as we engage this new generation into our local communities and the region.

2015 Chamber Chair Mike Russell, Terrii Manning - CPCC, Bill Russell - LKN Chamber, with Lauren Crawley, Katie Jones, and Marley Caddell from Belk dept Stores. —

2015 Chamber Chair Mike Russell, Terrii Manning – CPCC, Bill Russell – Lake Norman Chamber, with Lauren Crawley, Katie Jones, and Marley Caddell from Belk dept Stores. —

Last week, the Chamber examined the millennial generation more closely at a PowerLuncheon at River Run Country Club. Terri Manning, the Associate Vice President for Information Technology and Research Services at Central Piedmont Community College, led the discussion. The program was Presented by Belk Department Stores.

Manning spoke about the societal influences on generations as well as the strengths and talents of generations working today.  She pointed out that this is not your parent’s workforce as expectations have changed.  Perhaps the most important questions is how do we, as business owners, managers, and supervisors motivate and reward today’s new workforce?

Dr. Manning’s presentation is available by visiting the Chamber’s website.  You can find her PowerPoint here – Examining the Impact of the Millennial Generation.  You can also view this document from Dr. Manning – 14 Rules of the New Workplace That Millennials Need to Master.

No generation has been more influenced by technology and the computer than the millennials.  These new entrepreneurs are wired for success and very soon, if not already, America will feel the power of her young people.

Bill Russell

Advertisements

August 28, 2015 - Posted by | Chamber of Commerce | , , , , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: