Love them or hate them, millennials are the generation poised to take over the global economy. It is predicted that by 2020, over half the workforce will be made up of people born between 1980 and 1999. Known as the snowflake generation, millennials are often compared to snowflakes in that they are defined by their individuality, uniqueness and utter fragility. If you agree with popular culture, these self-entitled souls cultivate a sense of entitlement that is second to none, while flatly refusing to learn how to spell.
With the future of the global economy at stake, any business willing to alienate the greater portion of the future workforce will not make it much further than 2030. Such is the reputation of millennials that a 30-point screening test has been developed to weed out the whiny over-entitled worker seeking a position. Known as the snowflake test, it adds to the assumption that many organisations now have to indulge the whims of these delicate creatures.
But how accurate is this information and what do we really know about millennials? As it turns out, there is more to these anti-social tech wizards than meets the eye. A recent work-study suggested that millennials place great value on honest feedback and decent progression opportunities. The world has changed and businesses need to adapt. Those that completely refuse to adapt to millennial preferences will lose out on significant talent that could steer their business into the future. Adopting a sense of change and progression is what is needed.
Millennials are a generation with unique talents and a set of completely different needs in the workplace. Understanding workplace anxiety would go a long way to providing a calmer, more productive environment. For example, a disproportionally high number of millennials have anxiety of answering the office phone. The simple reason is because they have mastered various other forms of communication where personal interaction is never entertained.
Similarly, an overcrowded office, a strict dress code and not having the ability to express their individuality is a major trigger for panic attacks in many younger generation workers. This kind of developmental change is seen not only in the workplace but also in many other industries, including the online gambling and gaming industry. It has become more and more apparent that millennials are shying away from gambling in general, whether it be land based or online.
Previous generations see gambling as a form of relaxation, a novelty that can provide enjoyment and social interaction, but this has now changed somewhat and just like the workplace needs to adapt, so too do the leading online casinos.
There are many theories as to why millennials are disinterested in gambling. Some say that the availability of game information has made them acutely aware of the odds and therefore more likely to not risk what little finances they have. Others feel that the games lack the immersive interaction that consoles or online video games provide.
The under-stimulation of casino games is a factor that many online casino game developers are trying to address. Some companies have made their games more interactive, where players need to show actual skill in order to win real money. Others have incorporated a more social approach, incorporating leader boards and social media. Neither has shown much success, with millennials just not interested in spending money on gambling activities. If we take a look at previous generations, such as baby boomers or Gen X, the global economy was a very different place.
The strong economy created an optimistic view of finance for previous generations, while millennials have to contend with a scarcity of jobs, a housing crisis, escalating student debts and an absence of secure income. Understanding the specific needs and desires of millennials, whether it be social, gambling or work related is key to creating a stable future where these so-called “snowflakes” that can drive the economy. Those in the hiring seat would do well to consider all their preferences, and to examine how they can work alongside them rather than against them, or in a way that alienates them.