10 Updates

10 Things Millennial CEOs Will Reimagine In America

Apr 8 2014, 4:09pm CDT | by

This article is by Jeff Fromm, executive VP at advertising agency Barkley and co-author of “Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever.” A large...

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15 weeks ago

10 Things Millennial CEOs Will Reimagine In America

Apr 8 2014, 4:09pm CDT | by

This article is by Jeff Fromm, executive VP at advertising agency Barkley and co-author of “Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever.”

A large amount of ink has been spilled over Millennial workplace issues: They can’t be led, they are lazy, they expect promotions too soon, and they bring their parents on job interviews.

Yet, like it or not, Millennials will soon be running the place. The oldest Millennials are entering their mid-thirties and are starting to assert new leadership of corporate America. What sort of changes will this generation bring?

  1. Companies will become more pragmatic. Research tells us that Millennials are far more levelheaded than other generations give them credit for. Expect to see CEOs that are unwilling to take huge financial risks or spend with largesse. After all, this is a generation that has started their adult life with large amounts of student debt and is still struggling with underemployment.
  2. Research and development budgets will be reimagined around purposeful innovation. While it may seem in conflict with the point above, keep in mind that Millennials expect companies to solve problems. Products must be useful or Millennials are not interested. This new wave of CEOs will choose to invest in places that create new ideas.
  3. Bike lanes would be ubiquitous. While it’s a myth that Millennials don’t drive cars—this generation still demands access to better commuting options. Major cities would start to figure out how to create bike only lanes, more ride share programs and discounts for carpools will become the norm.
  4. The food industry will transform. Millennials are paying close attention to the food they eat. Whether they are eating healthy, indulging, feeding their kids (yes, Millennials have kids) or going out to eat—this generation wants to know the story behind everything they eat. Food CEOs will make it a priority to label products well, educate and respond to consumer demand like never before.
  5. Companies will care about employee health. Millennial CEOs will shepherd widespread adoption of workplace health education by rewarding employees that exercise, don’t smoke and maintain a healthy BMI. As the healthcare debate rages on, these new CEOs will do what they can to control rising costs by effecting change with the employees that they lead every day.
  6. Mental health will join the corporate agenda. Millennials are acutely aware of two societal ills: the stigma of mental illness and the stress that jobs can bring to personal lives. With this generation as CEOs, they will consider mental health an important priority—one that has no distinction from physical health. Expect programs that support employees, provide counseling and allow workers to have a voice.
  7. Hours will no longer be a productivity measurement. Millennial CEOs will care more about the economic value an employee creates than his or her time sheets. With respect to white-collar work, this generation of leaders will recognize the value in telecommuting by saving commuting time, fossil fuels and time with family. When it comes to hourly work, expect Millennial CEOs to be the driving force behind the creation of a living wage.
  8. Customer service will be re-focused to the online channel. Online customer service would move from the stone ages to the modern era. Questions could be crowd-sourced as well as answered by corporate experts in every format and language you can imagine.
  9. Content excellence will replace advertising excellence. Advertising isn’t dead but Millennial CEOs will demand their CMOs treat their consumer as a partner.  Relevant, just in time content within your brand authority will start to emerge in the same manner that digital media jumped onto the agenda a few years ago.
  10. Corporate social responsibility will reign. Expect that every company will add a CSR officer to the C-suite. Millennials expect brands to give back, be authentic and transparent. They will make it a part of the core company mission to support causes that matter the most to employees, customers and their hometown.

The Millennial generation is largely misunderstood. They are a diverse group that has faced real social and economic challenges during their most formative years. Smart companies will take heed of Millennials’ perspective—for they will soon be answering to them.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was t ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broke ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the D ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammud ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ i ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in compensat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM20 million. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Schem ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway (Kidex) ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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