Millennials Impact on Life: From Coffee to Workplace
By Beth Florkowski of Fausone Bohn, LLP posted in News and Press on Tuesday, March 14, 2017.
As millennials grow older and begin to immerse themselves more into the work life, the differences in their habits begin to influence everybody’s life.
One great example: the coffee business.
Have you ever noticed how your morning cup of coffee has been becoming more and more expensive as time goes on? Inflation is not the only reason for that.
Bloomberg has reported that U.S. coffee drinkers are drinking more coffee than ever before in history, which has led to the increase in prices. The main culprit in the spike of demand? Millennials.
Of course, coffee is not the only area being affected by millennial impact.
According to Forbes, millennials now make up 38% of the workforce. That number is expected to jump to over 75% in the next decade.
As more and more millennials enter your workplace, it is important for businesses to think about the ways they can modify attitudes and behaviors towards millennials to keep business operating in the future. It won’t be long before they account for the majority of employees.
The negatives of the millennial generation have been well-covered by spectators for a while now; some consider them lazy, unmotivated or spoiled.
As a business owner, this may be the way you perceive millennials, but it is not a characteristic you should simply accept. Instead, it is your job to groom and motivate your millennial employees to achieve more. Employers may not have much say in the attitudes of the prospects walking in your door, but they have significant impact in the employees they become.
Companies may not be excited about the millennial generation supporting their business and are hesitant to tutor the generation, but at the end of the day, what choice do we really have?