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Generation Y can Make-or-Break Today’s Businesses

by Marie-Sarah Published on November 16, 2015
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The growing number of Millennials in the workplace has certainly stirred things up, but how has their presence specifically impacted the business world?

As shown in Part I of this two-part series, those of us born between the early 1980s and the early 2000s are doing our best to reinvent the rules of the game. We believe we can be just as if not more productive and efficient than our predecessors and want to live our lives as we see fit. So what effects have we had on today’s businesses? Here are a few that I’ve noticed around me.

More entrepreneurship

Gen-Yers are more willing to start their own companies. Some will launch businesses where they see great potential, while others will do something entrepreneurial on the side. My friend Evelyne and her company Atelier Eben is a great example of this phenomenon.

More democratized resources

Many of today’s most successful start-ups (Uber, Airbnb, Breather, Landr) are proof positive that we no longer have to depend on powerful corporations to take control of our professional lives. In bypassing corporate structures that value profits over people, the entrepreneurs behind these companies are creating business platforms where everyone can come out a winner.

More self-employed workers

I’m not the only one who has gone the freelance route this year. Freelancing is becoming increasingly popular and I can assure you that it’s well worth it!

More collaborative workspaces

While working from home can be lonely, new collaborative workspaces are remedying this issue. Freelancers who rent these spaces get to work alongside their peers to network, create work-related solutions, and benefit from the same camaraderie they would enjoy in a traditional workplace. La Gare, Ecto, and Café GAB are good examples of such spaces in Montreal.

More accommodating companies

With Millennials forming such a big part of the workplace, companies have had little choice but to be more accommodating toward them in recent years (yessss!). Today’s most innovative and progressive companies offer work-from-home options, unlimited vacation time (no joke), and just about every other perk you can imagine to keep these employees happy!

More people-oriented

Likewise, more and more companies are treating us Millennials as people instead of interchangeable or disposable machines. They are putting a greater focus on mentorship and are taking more of an interest in how our professional aspirations can be satisfied through our work.

One thing is certain: we Millennials see work and career very differently than previous generations. Businesses that adapt to our generation, just as they would to any other major social change, are likely to come out ahead, while those who don’t are likely to face big problems given that our numbers keep growing. Today’s companies would therefore be wise to harness what makes us different and create business models that are ahead of the curve instead of behind it!

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by Marie-Sarah
Jouez et gagnez une eau de parfum La vie est Belle !
J'en profite !

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