Matching Items (3)
- All Subjects: Millennials
- Creators: LePine, Marcie
- Member of: Theses and Dissertations
Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to newer ways to appeal to millennials and secure their loyalty since millennials are always on the lookout for the next best thing and will "trade up for brands that matter, but trade down when brand value is weak", it poses a challenge for the marketing departments of companies (Fromm, J. & Parks, J.). The airline industry is one of the fastest growing sectors as "the total number of people flying on U.S. airlines will increase from 745.5 million in 2014 and grow to 1.15 billion in 2034," which shows that airlines have a wider population to market to, and will need to improve their marketing strategies to differentiate from competitors (Power). The financial sector also has a difficult time reaching out to millennials because "millennials are hesitant to take financial risks," as well as downing in college debt, while not making as much money as previous generations (Fromm, J. & Parks, J.). By looking into the marketing strategies, specifically using social media platforms, of the two industries, an understanding can be gathered of what millennials are attracted to. Along with looking at the marketing strategies of financial and airline industries, I looked at the perspectives of these industries in different countries, which is important to look at because then we can see if the values of millennials vary across different cultures. Countries chosen for research to further examine their cultural differences in terms of marketing practices are the United States and England. The main form of marketing that was used for this research were social media accounts of the companies, and seeing how they used the social networking platforms to reach and engage with their consumers, especially with those of the millennial generation. The companies chosen for further research for the airline industry from England were British Airways, EasyJet, and Virgin Atlantic, while for the U.S. Delta Airlines, Inc., Southwest Airlines, and United were chosen. The companies chosen to further examine within the finance industry from England include Barclay's, HSBC, and Lloyd's Bank, while for the U.S. the banks selected were Bank of America, JPMorgan Chase, and Wells Fargo. The companies for this study were chosen because they are among the top five in their industry, as well as all companies that I have had previous interactions with. It was meant to see what the companies at the top of the industry were doing that set them apart from their competitors in terms of social media marketing content and see if there were features they lacked that could be changed or improvements they could make. A survey was also conducted to get a better idea of the attitudes and behaviors of millennials when it comes to the airline and finance industries, as well as towards social media marketing practices.
The purpose of this thesis is to examine how companies can most effectively attract and retain millennial workers. Millennials are the future of the corporate world, and their retention in the workforce is important. Research for this study was gathered through the use of two surveys administered to Arizona State University students and corporate recruiters. The student survey focuses on what students' value in future employers, while also concentrating on challenges and opportunities job seekers presently face. The corporate survey asks questions related to the efforts used to attract and retain future employees, and the challenges and opportunities of the millennial worker. The findings reveal the millennial generation and the employers of today find alignment and disagreement within the topics of job dedication, culture, generational perceptions, and perceptions of the millennial. This study has a number of practical implications for employers seeking to understand how to integrate millennial workers into their corporate environment. Students will also find practical implications from this study, as they can better understand how to successfully get hired and be a part of a corporate environment. Recommendations for change on the students and employers respective behalf are based on survey findings and secondary source research.
The Millennials: The Importance of Employee Benefits to their Work Life Balance and their Recruitment and Retention in Business Positions
With the retirement of the Baby Boomer generation, the workforce is getting younger. Millennials will soon make up the majority of the workplace, and it is therefore imperative for organizations to understand the values and work expectations of this emerging generation. This thesis examines the importance of employment benefits towards work life balance and work satisfaction to Millennials, and what employers can do to recruit and retain this generation of workers in the current marketplace. The data for this study was collected by surveying MBA students enrolled at the W.P. Carey School of Business at Arizona State University. A total of sixty-eight students completed the survey, forty-five being Millennials and twenty-three members of Generation X. The data was analyzed using various statistical techniques to assess the generational importance of work life balance and its relationship between particular employee benefits and recruitment and retention at organizations.