Can brands help Millennials feel more optimistic about the world and confident about their lives?

CultureQ research continues to show Millennials rely on favorite brands to feel more emotionally balanced and psychologically fulfilled.  Our latest insights reveal five ways brands can develop more valuable relationships with Millennials. 1. Fill the leadership void Millennials top five concerns continue to indicate they’re a generation that’s ill at ease, as uncertainty is a permanent feature of their lives. Younger Millennials (16-18) still in high school express concern about weighty global issues (the global economy, political instability, terrorism, environmental sustainability). And are fearful about how the permanent state of uncertainty impacts them personally - preserving their quality of life, achieving longer term security and/or giving their families what they need. As Millennials age and transition more into adulthood, the lack of access to affordable healthcare is a growing worry, despite the launch of Obamacare. They also express increasing concern about the environment and the lack of visionary leadership in government, overall. More and more, Millennials will gravitate to brands with propositions that empower them to feel more secure and confident about their future and that of the planet. Their loyalty is strongest toward brands that fill the leadership void and embed solutions that solve societal issues into their promise. Brands that center on healthcare, education, financial security, and personal wealth are exceptionally poised to do this. 2. Be safe enough to be real Many Millennials are struggling with social media dissonance; the term we use to describe the gap between their off and online identities. As this syndrome becomes more widespread, and exacerbated by legacies of helicopter parenting and over scheduling which have left Millennials little opportunity to...

Is There Any Real Value in Values?

Many thanks to Ramesh Jude Thomas of Equitor Consulting in India for contributing this blog post. Earlier this month I had breakfast with my old friend Anne Bahr Thompson in New York. She is an exceptional thinker who used to run the strategy practice at Interbrand. Anne has invested the better part of the last three years developing the notion of what she has trademarked as “Brand Citizenship”. Her contention is as powerful as it is simple. The data from  three years of this research suggests that in a world where paternalistic structures are increasingly impotent, some brands seem to have the ability to command the respect traditionally attributed to institutions like government, the judiciary and the fourth estate. In other words, her work suggests that we are far more likely today to believe what an Apple or a TATA were to say, than we would The Wall Street Journal or even Mr. Obama. As a corollary, Brand Citizenship seems to suggest that brands and businesses that enjoy high “citizenship” ratings  for example, the BODYSHOP at one time) will score highly on measures like disposition and leadership. The last ten brand valuation clients I have been involved with, represent a little over $ 25 billion in market capitalization, across diverse categories like media, travel, food products, chemicals, financial services and speciality retail. It is indeed telling that on average, just under a quarter of the value of these businesses lies in their corporate reputation alone (traditionally grey stuff like ethics, transparency, governance and community participation). In simple terms, a fourth of the economic profit generated by these firms is...
Is your corporate culture similar to that of a Crew Team, a Country Club or a Boy & Girl Scouts Club?

Is your corporate culture similar to that of a Crew Team, a Country Club or a Boy & Girl Scouts Club?

Acts of management shape employer culture Together, each action – big or small – of the employees of a company forms our impressions of a brand. And, each act of management in turn shapes employees’ impressions of their employer. When a company’s brand – its culture and values that promote management behaviors – is relevant to employees, they are more engaged, provide better customer experiences and, thereby, ultimately enhance profitability. Recent research from CultureQ, Onesixtyfourth’s ongoing monitor of how cultural sentiment is impacting people’s relationships with brands, reveals that Millennials, Gen Xers and Baby Boomers each define their ideal employer culture differently. What is your company culture?                   Would you describe your company culture as similar to that of a Crew Team, a Country Club or a Boy & Girl Scouts Club? Your answer to this question may offer some insight to why you are or are not having a tough time attracting new recruits. Boomers tend to prefer an office environment that is positive and healthy. A culture similar to that of a winning Crew Team: recognition and acknowledgement of hard work, a team-like work ethos, the individual strengths and skillsets that need to come together to do good work, accountability and pride that comes from a job well done. Gen Xers on the other hand, are looking for a work environment that supports, enhances and thereby actualizes their lifestyle – what many envision as Silicon Valley workplace culture or what we think of as a Country Club. As detailed in our blog last month, Our changing workplace: Cultural shifts...

Our changing workplace: Cultural shifts are impacting expectations of ’employer’ brands

In an effort to learn more about how upcoming cultural shifts are impacting the workplace for a presentation of our trends to HR executives of a large multinational, we fielded a quick quantitative study.  In mid-April we asked 600 Millennials, Gen Xers and Boomers in the US about what employers can do, aside from pay rises and moving to a more convenient location, to better motivate them to work for them. Specifically, we asked our respondents to tell us what their employers could to do make work more exciting and to characterize their ‘ideal employer’. Not surprisingly, all cohorts would like their current employers to offer more benefits. These include more affordable healthcare, better healthcare, including dental, etc. And, everyone wants more vacation, whether that is more vacation days, more flexible vacation time (Millennials) or paid vacation. For Baby Boomers, benefits are by far the most important thing an employer can offer - whether it be their current employer or their ideal one.  And, possibly more so than we would expect given their age and stage in life, Boomers are seeking opportunities for personal and professional development. Other CultureQ research offers some potential insight into this: some Boomers have told us they recognize they need new skills to remain relevant and others have noted that they don’t intend on leaving the workplace for some time. These sit alongside those who note they are being forced to find ‘new’ careers for a variety of reasons. What we found very interesting in our recent data was the subtle differences in the words the different generations chose to describe the characteristics they...

Is optimism about the economy having an influence on Millennials’ career choice?

We think so. As Millennials’ faith in the economy increases, their views about career paths are also shifting. While being an entrepreneur was the most appealing career path for 2012, respondents to our third annual CultureQ survey on cultural sentiment in the US and the UK were more likely to find being a corporate executive the better career option for 2014. Corporate executive is the top career choice Millennials, both those both in the workforce and those trying to join it, are more likely to say that working in a corporation and becoming a corporate executive is a more appealing career choice than being an entrepreneur, government employee/civil servant or working at a non-profit or NGO. And, except for Boomers in the UK who continue to cite an entrepreneur as the most appealing career for 2014, Gen Xers and Boomers agree. The appeal of entrepreneurialism is waning The appeal of becoming an entrepreneur has dropped across all groups most especially among Millennials in the UK (43% to 31%). Simultaneously, versus 2012, there has been a small increase in the number of Millennials in the US and the UK who believe working at a non-profit is the most appealing career, surpassing civil servant as a suitable career even among younger Americans.                 So why is this significant? As people begin to feel better about the economy,  our respondents indicate that they anticipate increasing improvement in the private sector job market. Effectively, they see less of a need to become an entrepreneur in order to earn a decent living. And, with this optimism for...

What do people hope 2014 will bring?

Brands can focus on helping people feel more in control financially Financial stability is more top of mind this year than in our previous annual CultureQ studies. Millennials, Gen Xers and Boomers alike are more focused on the ability to gain and maintain individual financial stability. In 2013, Millennials’ hopes for the year focused on getting in or finishing school (55%); only 25% cited financial stability, whereas 47% named it as one of their hopes for 2014.   Is this correlated with Millennials getting older? Likely it is to some degree but the data indicates it may also be related to shifting sentiment across the population overall. While financial stability has been a top hope for Gen Xers over the past three years, it increased significantly in 2014, from 64% to 79%.Analyzing individual responses (we personally read every one) offers us further insight and confirms that each generation’s hopes are related at least in part to lifestage. Millennials hope to get raises and pay off student loans, while Gen Xers are focused on paying down debt, including mortgages, and ensuring financial security for retirement. Boomers responses, however, could indicate that people have accepted insecurity as the New Normal and realize it’s time to stop waiting for things to get better and move forward regardless. Rather than speaking about having enough money for retirement, many Boomers tell us they’re looking to downsize their lives, budget better and eliminate unnecessary expenses. With many projecting that Boomers will control more than 70% of America’s disposable wealth over the next few years, a focus on budgeting better may be concerning to brands. The...
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