{"id":13900,"date":"2017-03-06T15:00:30","date_gmt":"2017-03-06T15:00:30","guid":{"rendered":"https:\/\/www.wellable.co\/blog\/2017-03-06-courting-millennials-lessons-from-market-research\/"},"modified":"2023-09-25T03:14:00","modified_gmt":"2023-09-25T07:14:00","slug":"2017-03-06-courting-millennials-lessons-from-market-research","status":"publish","type":"post","link":"https:\/\/www.wellable.co\/blog\/2017-03-06-courting-millennials-lessons-from-market-research\/","title":{"rendered":"Courting Millennials: Lessons From Market Research"},"content":{"rendered":"

In this world of low loyalty, it feels like employees are always having one foot out the door. Millennials, the largest generation in the workforce, are the least loyal of all. In fact, two-thirds of millennials surveyed said<\/a> that they see themselves switching jobs in the next four years.<\/p>\n

Employers are not facing the struggle alone. Brands spend millions of dollars courting millennials, using bulk advertising to make up for the low retention rate. Just like how you try to learn more about your partner on the first date, companies use market research to discover millennials\u2019 likes and dislikes, aspirations, and beliefs.<\/p>\n

At first, it seems like a consumer brand and a hiring organization are on the opposite ends of the cash flow; one takes money out of millennial pockets while the other one supplies it. However, both need millennials to like and trust them before they can do any business. Yet, managers often forget that they, just like consumer brands, need to make their millennial employees happy to retain talent.<\/p>\n

Intuitively, company managers can learn from tactics brands are using to inspire millennials to work better and more effectively as well as to align their benefits with that of the organization. Learn to speak \u201cmillennials\u2019 language\u201d to reduce turnover rate and increase employee engagement and loyalty with these four strategies that brands are using right now to attract customers.<\/p>\n

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1. Focus On Health<\/h2>\n

Millennials are more likely<\/a> to care about personal health relative to other generations. It impacts the way they conduct themselves professionally; millennials appreciate people who take care of them, whether it is hotels, restaurants, or employers.<\/p>\n

But where do you start? Health and wellness encompasses many different components, such as physical, mental, and financial. If you need to pick a starter, learn from brands that are focusing on millennials\u2019 preference for fitness and nutrition.<\/p>\n

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Fitness<\/h3>\n

Hotels are rolling out yoga mats to entice fitness fanatics and the health-conscious alike. Nearly half of millennials said<\/a> that a premium fitness center with options for on- or off-site exercise classes was influential when they decide on where to stay. In fact, 49% of millennials said they viewed an on-site gym as one of the most important features of a hotel. Hotels managers are anticipating the demand with 85% of hotels having fitness facilities last year compared to 63% in 2004.<\/p>\n

Takeaway lesson<\/strong>: Create an active culture in your company by offering on-site classes, gym reimbursements, or holding a sports day.<\/p>\n

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Nutrition<\/h3>\n

While previous generations look at healthy options as ones with low calories, no fat, or minimal sugar, millennials are gravitating towards consuming whole foods. To them, healthy foods mean fresh products that are less processed and contain fewer artificial ingredients.<\/p>\n

\"what<\/p>\n

Takeaway lesson<\/strong>: If you provide food in the company kitchen, avoid the packaged snacks. Stock up on natural and healthy items such as fresh fruits, nuts, and other unprocessed options.<\/p>\n

\"healthy<\/a><\/p>\n

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2. Customer Service Is King<\/h2>\n

Because of the economic downturn, high student debt, and lower pay than the previous generations, U.S. millennials are much more likely to shop around for the cheapest options. Brand loyalty is a hard asset to earn these days. What are brands doing to counteract this?<\/p>\n

They provide superior<\/em><\/strong> customer service.<\/p>\n

How does Trader Joe\u2019s compete with big grocery stores? Why do customers go to Zappos instead of more aesthetically pleasing sites? Why is \u201cgoing to the Apple Store\u201d an amazing experience but \u201cgoing to a Samsung store\u201d is not a thing? The biggest differentiator for these brands is their ability to go above and beyond for their customers. The customer is king, and brands put customers\u2019 needs above all else.<\/p>\n

Takeaway lesson<\/strong>: A strong relationship with a manager is just as satisfying as getting quality customer service. Managers need to invest in employees and their success. This means frequent communications, being accommodating to their needs, and creating opportunities for them to advance in their career.<\/p>\n

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3. More Than Just The Bottom Line<\/h2>\n

Here are some stats to consider:<\/p>\n

\"Courting<\/a><\/p>\n