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Cyndi

changing of the guard

A Changing of the Guard in the Workplace

By | Blog, Food for thought

Why Millennials Are The Key To Your Next Revenue Lift

In recent years, there has been a lot of attention on the Millennial Generation, Gen Y, Gen Next and several other terms used to describe this group of people born between 1981 and 2001, everything from how to advertise to them, how to engage them and should a company invest in them. And why not? This group makes up over half of today’s workforce at 80 million strong and growing. Studies have shown that within the next 5 years, this group of individuals will roughly encompass 75% of the labor force.

There is a changing of the guard happening and companies all across the United States will need to know some key factors about their new workforce in order to capitalize on the talent that lies within.  As Baby Boomer’s continue to retire at a rapid rate, there is just not enough of the Gen X generation to fill the leadership gaps left behind. In fact, Gen X only makes up 16% of the workforce. So, who will fill the 25% of positions being retired from?  You guessed it, the Millennials.

That’s good news if you are Google, Amazon, or Apple who have revolutionized and set a new standard for company culture to recruit and maintain the best of the best.

Tech companies have been forced to adapt one by one to stay competitive in their industry, but what about your company? When was the last time you evaluated the strength of your company’s culture, values, and mission? If you haven’t done this recently, there are a few things you might consider as your company competes to hire over the next few years.

Millennials want to align their values and interests to the work they do and, more importantly, who they work for. Adjusting corporate culture to appeal to this group results in a mutually beneficial relationship according to the last White House UPSkill Summit by the HR Policy Foundation. They released a study titled, “Talent Sustainability Report: The CHRO View from the Front Lines of the War on Talent.” Consider the top priorities found most important when hiring from this pool:

  • Have an impact on their communities for good
  • Freedom for self-management – coach/mentor vs boss mentality
  • Collaborative environment rather than competitive
  • Work life integration – not work life balance
  • Competitive pay with incentives

The study seems to suggest that while collecting a paycheck is important, it’s not the most important. The culture has changed from an “I work for a living” to “I want to be recognized, acknowledged, paid competitively and work collaboratively for a living in order to make a difference in the community which I live.”  That’s a tall order! However, 2/3 of employers who have adapted company culture to this philosophy, report exceptional work performance and an overall thriving environment.

While corporate culture and recognition for work performance are more valued than salary, it still carries a significant weight in a millennial’s decision. Millennials have been deeply affected by the recession and carry the largest student debt in the country. They have liabilities and lives, and companies must acknowledge this by paying fair market value to see the greatest return on investment. This by no means indicates that companies should break the bank but rather consider additional ways of competitive compensation such as – tuition payback, tuition reimbursement, healthcare incentives, or travel/bonus incentives.

If you are a company in need of a makeover, Fabrica Creative stands willing to help. We’ve worked with several companies to “remodel” corporate cultures and give a fresh new look while keeping the company’s core brand and values intact. We would love to work collaboratively so your company can confidently move into this new way of doing business and see increased revenue lifts because of it.

iPhone

Addicted to Mobile

By | Blog, Food for thought, Happenings

Would you rather go without your cell phone or go without your wallet for a day? For me…it would definitely be my wallet! My phone has EVERYTHING I need and more that I want on it–and it’s just a simple thumbprint away. As a society, we have become addicted to our mobile devices averaging over 2,000 touches on them each day according to Business Insider. It’s no wonder why my spouse gets jealous. As a result, our agency understands that we must employ a mobile strategy in all of the campaigns we put together for our clients. After all, these devices typically go everywhere with us and are used every day, especially during the holiday season where we always see a spike!

Capturing attention during the bustling holiday season is a challenge for any agency, but capturing the attention of your target audience can be even trickier. Consumers are inundated by ads during the holiday season, so we apply targeting strategies to reach those that only have time to give attention to brands that resonate most.

One of the ways we do that is through digital audio. It has a solid, proven track record to be one of the most effective mediums to reach masses of busy consumers throughout their constantly-connected, multitasking days. Especially during 4th quarter (aka the holidays). In fact, a recent Infinite Dial Study by Edison Research shows us that listening to internet radio has nearly tripled since 2010. And when listeners were asked to rank what makes for a good holiday season, 7 in 10 said music is one of the most important holiday ingredients–more so than food, gifts, and religious traditions. But as the smart agency that we are, we know that successful holiday marketing doesn’t end there. Being able to identify and reach your target audience with confidence is the real trick to achieving the most ROI for your budget.

Lane Bryant, the nation’s leading women’s apparel retailer for sizes 14 through 28, demonstrated the power of a targeted, mobile-first, multi-product media mix to drive holiday attention and sales. The results were amazing. Marrying the strategy of precision targeting with an optimized media mix they saw a 17% lift in store traffic outpacing the corporate retail benchmark of just 7%.

Let us show you how to cut through the clutter this holiday season in a brand-safe environment. We would love to be your agency of choice!

Generational Divide, Fabrica Creative

The Generational Divide

By | Blog, Food for thought, Happenings

A generational divide is evident in the way we seek entertainment, the figures we consider icons, the methods by which we travel, and in our preferred methods of communication. While millennials might roll their eyes at their elders’ failure to appreciate avocado toast or their misunderstanding of current socio-economic stressors, gen xers likely don’t understand millennials’ constant selfie-taking or job-hopping.

Though this generational divide can appear when analyzing a wide array of behaviors, there is no significant gap between the amount of news different generations consume or how attentive each generation is to news stories. According to the American Press Institute, news consumption is a habit that all age groups perform daily, and older adults are only slightly more likely than their younger counterparts to say that they enjoy keeping up with the news.

However, there is a divide in the methods by which each generation receives their news, as indicated by data published by the Reuters Institute for the Study of Journalism. According to the data, which was released in June 2017, and based on a survey of more than 70,000 news consumers across 36 countries, most individuals aged 34 and younger consider social media and the internet as their primary sources of news, while those aged 45 and older keep up with breaking stories primarily through television and print media. Radio was not considered a primary news source for a significant portion of any age group.

What does this data mean for the news industry? For starters, the demise of print media is likely to continue as more individuals jump off that platform in favor of television and the web. Additionally, continued news consumption on social media and self-selected online platforms could increase exposure to so-called “echo chambers” and further polarize all consumers of news.

 

                               

Read more on the generational divide then come back to check out all of our work!

Fabrica Creative