Podcast: Managing millennials

Have you ever been puzzled or annoyed by what millennials are saying or doing? Are you a millennial, feeling fed up with the stone age tempo, processes or attitudes of yesterday? Find out what millennials want, what they need, and what makes them tick in this 'Managing millennials' podcast with Nordea's Thematics team.

Millennials already represent one-third of the Nordic population aged 24-74. What does this mean if you sell goods or services to them? Companies must rethink their business models when catering to millennials' greater focus on sustainability. Subscription, renting, leasing, or sharing models are more popular than 'purchase-to-own' models - especially as millennials age and grow their incomes, representing an even bigger share of total consumer spending.

The millennial generation is a large and diverse age group (10-30% share of first- or second-generation immigrants). Its share of individuals with higher education has more than doubled to ~45% during the past few decades. Millennials marry less and have children later in life. They are less religious, more likely to vote in elections, and drink and smoke tobacco less (only ~5% are smokers) than their predecessors.

Millennials have different work-life needs and preferences than older generations. They prefer flexibility; corporate values with which they can identify, i.e. a purpose beyond maximising profits that serves a greater good for society; constant feedback and authentic leaders to which they can relate as human beings. The good news is that companies can accommodate most of these by adapting culture and attitudes, and do not need to reinvent their businesses from scratch.

Learn more by listening to the podcast Managing millennials