360° Coverage : 10 Things Millennial CEOs Will Reimagine In America

2 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...

Filed under: news

 
 
 

28 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
2

8 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 per c ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17" hits home ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

World Bank approves $75 mn for pastoralists in Horn of Africa
Nairobi, Oct 26 (IANS) The World Bank has approved an additional credit of $75 million to improve the livelihoods and resilience of pastoralists in the Horn of Africa.
 
 
Slovakia to provide further financial help in fighting Ebola
Bratislava, Oct 26 (IANS) Slovakia planned to provide some 90,000 euros ($114,000) to countries affected by Ebola to help with the construction of field hospitals, foreign ministry said Saturday.
 
 
Mauritania closes border with Mali after Ebola death
Nouakchott, Oct 26 (IANS) Mauritania has closed its border with Mali after an Ebola death was confirmed in the border area this week, a health official said Saturday.
 
 
Number of Ebola cases crosses 10,000: WHO
Geneva, Oct 25 (IANS/EFE) The World Health Organisation (WHO) confirmed Saturday that the number of Ebola cases has risen to more than 10,000 in the eight affected countries, two of which, Nigeria and Senegal, had recently been declared free of the virus.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla