Generation Z: Why Businesses Need to Adapt to Them

As the Millennial’s are approaching towards middle age and obsolescence, but businesses need to make way for Generation Z. Understanding this generation will be critical to companies wanting to succeed in the next decade and beyond, because by the year 2020, Generation Z will account for 40% of all consumers.

 

This generation has grown up in a world where their options are limitless but their time is not. Making them learn to adapt and quickly sort through and assess large amounts of information. By doing research and heavily relying on trusted curators and trending pages within apps, this allows them to shrink their potential option set down to a more manageable size. Once something has demonstrated attention-worthiness, they can become intensely committed and focused.

 

Generation Z has a very carefully tuned mind for being sold to and a limited amount of time and energy to spend assessing whether something’s worth their time or not. Once your business has made it past these filters and you’ve won their attention, it will mean you’ve provided them with engaging and immediately beneficial experiences.

 

Older generations will forever struggle to understand why Generation Z – and some Millennials – spend so much time online. But they are under immense pressure to simultaneously manage both their professional and personal brands to help them fit in while also standing out. They need social media to build their personal brands but must resist being defined by it. They seek social validation and inclusion but are looking to differentiate themselves professionally. Businesses and companies who understand this, will be able to provide Generation Z with the proper tools they need to reconcile and better manage their personal and professional brands.

 

Society and other generations seem to either romanticize youth or criticize the things they’re doing differently. But the reality of Generation Z is somewhere in between that. They’re going through many of the same challenges that everyone faces in that stage of life, but they’re doing it in a very ultra-connected, fast-paced technological age. Companies need to meet them in the middle and where they are, rather than try a change them to where they want them to be.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

Millennials and Small Business

Millennials at Work

Ah those tech savvy, free-spirited millennials. If you don’t have a millennial already working for you, then you probably will soon.  While generation Y, is inundated with student debt and the prospect of a recession strained economy, they are the backbone of many companies rising companies and present incredible potential for small businesses.  Millennials exhibit many traits that can be an asset to any small business plus they are attracted to many workplace features that small businesses can offer them.

 

Put Me In Coach

Millennials love to be coached. Millennials want to be guided, trained and know as much as they can about something. They’ve been receiving feedback and advice on everything they’ve been doing and have done since they could walk – the outcome is simple; they thrive on frequent communication and collaboration. A recent Microsoft survey says that 65% of millennials prefer to communicate face-to-face with their managers. This face-to-face preference and desire for personal interaction is a well liked facet of small business.

 

Customization is key

Not too surprising, millennials love customization in their personal life and workplace as well. The drive for personalization for millennials also manifests itself for their desire to use their own technology devices in the workplace. If you want to attract top talent, business owners need to think about the technology that will enable their employees to do their best work; not just get the work done. Small businesses can be a great fit for millennials as you can be agile and adjust their roles and responsibilities to suit each employee’s skills and interests.

 

Work-Life Integration

People talk about flexibility or unlimited vacation schedules, but its about much more than the sum of hours people work. Millennials want to bring their authentic selves to a workplace that reflects who they are. Today’s younger workforce has an independent mindset; they’re drawn to a company with a strong mission statement and even stronger values. Millennials gravitate to organizations that trust them to deliver – that’s where they thrive and put forth exceptional quality.  As small businesses continue to increase their hire of millennials, they will also need to adapt to the way this workforce operates in order to get the most out of them.

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

Differentiate Your Workplace to Attract The Best Employees

In the increasingly competitive pursuit of the best and brightest employees, fostering a workplace that is conducive to innovation, team building and productivity is a terrific way to attract staff that operate at a higher level than your competition.

 

In order to create an environment that allows for brilliance, teamwork and creativity, you have to be committed to organizational change, not simply curious about it. Hosting team building activities such as a softball games or an off site get together, can come across as insincere or contrived to serve ulterior motives.  Savvy employees are often the first to perceive this, so such efforts are made in vain.  If you really want to attain employees with higher levels of passion, here are some of the best methods to reboot things and modernize your organization.

 

Schedule accommodations

While they may come off as yet another “buzz” term, flex hours, afford many the ability to be more productive and more available to their job.  This allows individuals to operate at a higher and often more focused level because they are not distracted by many of the outside responsibilities of life. As well, for individuals who cannot work a standard work week implementing a 4 day work week structure at 80% pay is a solution currently being piloted by the likes of Amazon, Netflix and many other innovative and reputable firms.  Accommodating employees in this way bolsters diversity and commitment which leads to a very powerful team.

 

Working from home

Similarly offering the option to work from home not only allows for great convenience for the employee, but also provides significant benefits to the team and the business. When passionate employees are working from home, they will often work longer more focused hours (e.g. no chatter by the water cooler), allowing for increased amounts of productivity. As well the business requirement or real estate is diminished, resulting in significant cost savings.  Finally, employees who work from home also take fewer days off due to being sick.  Contrary to what you might think, people working from home typically provide a higher output than average.

 

Office Pets

Allowing people to bring elements of their home life to work is a fantastic way to make the work experience more personal for some employees.  Often out of concern for their pet who is home along, many employees feel a bit distracted or guilty about the time at work. Allowing their pets in the office often alleviates this; leading to increased time and focus to work. Pets also often have great character which tends to put employees in higher spirits, allowing for increased energy around the office.  While it may not be conducive to have someone bring in a pet alligator, allowing for smaller – less threatening pets — is a great concept employed by several successful companies.

 

At Bullfrog Insurance, we believe in continually questioning the status quo and pushing the limits of corporate innovation.  Likewise seeking to improve things often causes entrepreneurs to launch a business — but it is their talented staff that keep the business growing and progressing.

 

Be sure to frequently visit our Bullfroginsurance.com blog for more tips and business advice on everything from staffing to marketing to risk management.