AUGUST 20-SEPT. 16, 2015 • THE CSRA’S MONTHLY BUSINESS MAGAZINE
Millennials changing business landscape New generation is changing traditional work environments, employment choices By Elisabeth Curry The employee perks at Wier/Stewart, a design agency located on Broad Street in downtown Augusta, might seem excessive to longer-lived companies, but co-founder Daniel Stewart believes the incentives inspire his team to go above and beyond. Just this year, in addition to company iPhones, comprehensive healthcare coverage, Free Lunch Friday and an office fridge stocked with beer and wine, Stewart and his partner Alex Wier rolled out the company field trip perk: Each employee receives $1,000 to take an inspirational trip somewhere they’ve never been. “We hope that when they come back here from the trip, they’re inspired to create great work,” Stewart explained. “We have a lot of Millennials in the office, so it’s really important to me for this place to be very comfortable and feel like you’re working with brothers and sisters, not bosses.” Stewart’s emphasis on a comfortable, relaxed workplace atmosphere is not uncommon: In fact, it’s a growing trend among companies looking to attract a younger workforce who have different expectations of their employers than workers in the past. The traditionally professional, somewhat sterile office environment has lost traction in the last decade in favor of flexible schedules, less stringent dress codes and an atmosphere aimed more toward creativity, collaboration and experiential perks. The thought process behind Stewart and Wier’s purchases, be it employee perks or brand new tech for the office, is a
Zac Lewallen, right, has become a managing partner in Computer Exchange with Charles Kelly, left, and John Luther. He has become an important part of the business because, as a Millennial, he is able to relate to the next generation of business owners. Photo by Gary Kauffman
simple one. ‘Find happiness in your work’ is the Wier/Stewart tagline. Buying decisions, such as new computers for the entire design team, are usually based on happiness. Stewart said that having bosses willing to pony up the money for
new equipment indicates a team mindset and shows a willingness to reinvest the financial success of the business into See MILLENNIALS, page 4
New generation makes different buying decisions By Elisabeth Curry Companies trying to cater products and services to the increasingly influential Millennial generation have found a need to adjust their marketing strategies, placing an emphasis on storytelling, artisan and local products, and even sourcing methodologies. More and more, Millennials are holding businesses to a standard that is not only high, but very specific: the products should not only be top quality and function as promised, but also unique and socially responsible. In addition, digital marketing is no longer optional – it’s essential, and constantly evolving as new technologies and social networking channels inundate the market. Some companies, like Auben Realty, have
done away with traditional media channels entirely, relying solely on digital marketing. “We don’t do any traditional marketing,” said Chadwick Heard, Director of Digital Marketing/Operations at Auben Realty. “We don’t do billboards, TV or radio. Millennials are definitely more tech savvy, so if you want to reach them, it has to be digital. It’s still very hard to crack into the psyche of Millennials because they consume so much content, so it’s more about understanding your target market and emphasizing what makes Auben unique.” At 27, Heard rests directly in the center of the Millennial age demographic. Rentals are much easier to market to Millennials, according to Heard. The challenge arises when attempting to market the benefits of
a permanent residence to a generation that holds flexibility as one of its core values. “A lot of Millennials don’t want to be tied down,” said Heard. “They’d rather rent as opposed to purchasing a home because if an opportunity arises to move to a new place or pursue career advancement in a different city, they’re willing to jump up and go after it. It’s a really tough demographic in terms of purchasing a home.” Transparency is key, according to Heard. Millennials looking to purchase homes are primarily sold either on the concept of equity, or through an honest and personalized assessment of what the potential home buyer is looking to achieve from their purchase, as well as out of life. “Young professionals tend to be attracted
to Auben because our staff is young, we’re weird and unique, and we’re not afraid to let people see that,” Heard said. “The behindthe-scenes stuff really resonates with our audience. We let people see what goes on in a renovation, and all of the crazy goofy things that happen in our office. In previous generations, that might have been considered weird, but Millennials are all about philosophy, storytelling, and what makes a company unique and human.” “Millennials rebel against the typical corporate environment,” Heard continued. “They don’t buy into the mass broadcast of a message. Whether you’re talking product marketing or a work environment, it’s about personalization. The paradigm is definitely shifting.”