Pew Research defines “millennials” as those born between 1981- 1996. Today, they make up the largest part of our workforce, and by 2025, they will make up approximately 75 percent of our workforce. There are about 87 million millennials, and they are the most diverse generation yet.
Despite the bad reputation they’ve been given by older generations, I truly believe this generation is out to catalyze positive change.
For some interesting facts about how millennials are creating change by spending habits, work preference, and values, read below.
Money is our Vote:
It’s estimated that by 2020, millennials will be worth $24 trillion, according to a report from UBS Bank.
84 percent of millennials will consider and research a brand’s values before making a purchase.
Millennials are twice as likely than baby boomers to check if a brand’s corporate social responsibility claims are true and supported with specific action.
Research from the Charity Commission in the UK found that adults aged 18-24 make a larger charitable contribution and were more likely to research the charity they intended to donate to.
Waste not, want not: millennials are twice as likely to participate in the sharing economy.
Changing Corporate Culture and Values:
64 percent of millennials would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.
They believe that how much money you make isn’t the best indicator of success.
They're more loyal to employers than previous generations. Millennials actually stay with their employers longer than Generation X workers did at the same ages; in fact, more Gen Xers spent less than one year at any one job.
Millennials may have new attitudes towards flexibility and a work/life balance, but they are loyal to employers who understand and embrace this.
They are more tolerant of different races and groups than older generations (47 percent versus 19 percent), with 45 percent agreeing with preferential treatment to improve the position of minorities.
88 percent prefer a collaborative work culture rather than a competitive one.
Global Citizens Caring for Future Generations:
92 percent believe that business success should be measured by more than just profit.
84 percent of millennials said that helping to make a positive difference in the world is more important than professional recognition, according to a study by Bentley University’s Center for Women and Business.
The world needs fixing, and 61 percent of millennials feel personally responsible for at least trying to make a difference in the world.
In a Global Shaper survey of over 31,000 millennials, 48.6 percent agreed that climate change is their biggest global concern.
84 percent say that helping to make a positive difference in the world is more important than professional recognition.
Millennials are in power and the world is watching. Mhairi Black, 21, is the one of the youngest people to join the British Parliament. Wyatt Roy, was voted into the Australian Parliament at 20. Malala Yousafzai became the youngest person to receive a Nobel Peace Prize. Brian Chesky, founder of AirBnb literally disrupted the hospitality industry. Kim Jong Un, the leader of North Korea. Edward Snowden, Mark Zuckerberg, Kate Middleton, Prince William and Harry.
Curious: who are your "Millennial Role Models"?