The millennial generation has already been making waves throughout the employment community and many firms have had to modify their traditional business models in order to attract this valuable demographic. However, there are specific traits which have allowed the millennial generation to stand out from its peers. Perhaps the most notable is an undeniable sense of self-worth and independence. The average millennial is confident in his or her skills. Thus, they feel that it is perfectly reasonable to be quite demanding when it comes to their intended role within a specific business. Some are even taking to the online community in order to ply their trade to a much wider audience. Why has this become such an attractive option and what lifestyle benefits might this approach have to offer?
A Departure from the Traditional Definition of Employment
In the past, many individuals felt lucky simply to have landed a contractual agreement with an employer. Some would have thereafter been forced to work long hours performing relatively mundane tasks. Although this could very well provide a sense of financial stability, the fact of the matter is that such roles were hardly rewarding. However, the notion of fiscal responsibility tended to trump personal ambition.
These observations have dramatically changed thanks in no small part to the sheer number of lucrative opportunities found throughout the Internet. Not only do enterprise ecommerce solutions enable entrepreneurs to build a fully functional website from the ground up, but encountering a niche market is much easier than in the past. The possibilities are therefore very attractive and to many millennials, the potential risk is certainly worth the perceived reward. This is the very same reason why we have seen the number of online startup businesses explode over the past five years.
An Enhanced Quality of Life
We also need to look far beyond the notion of return on investment. The flexibility offered by online employment is much more attractive when compared to a traditional 9-to-5 job. Freelance business owners can set their own hours and establish discrete target margins. As working from home or telecommuting is now a reality, it is likewise possible to spend a greater amount of time with friends and family. Unlike previous generations, the average millennial places a great deal of emphasis upon these traits. In other words, quality of life is just as important as profit margins alone.
Will the millennial generation continue to reshape current business models? This is already a foregone conclusion and if anything, such a trend should pick up pace in the coming years. Of course, brick-and-mortar firms are not going anywhere anytime soon. It is still an undeniable fact that the millennial generation is here to stay. Well-educated individuals rightfully deserve the capability to expand far beyond static business opportunities and as a result, freedom and work-related flexibility have both become realities. This is why it will be very interesting to see how the millennial generation continues to transform the rather outdated notion of “business as usual”.