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Millennials expect certain things from the companies they work for and buy products from. These things encompass both workplace culture and the image a company projects. Interestingly, the job turnover rate for millennials is very high; companies are essentially trying to keep millennial employees engaged and happy through their practices, which are often the company’s attempt to do good. As more and more young people look for jobs at ethical businesses, businesses themselves are adapting.
“Do Good”
It’s worth exploring this phenomenon. Anne Bahr Thompson’s new book “Do Good” is the result of her pursuing a model for businesses who want to be successful and ethical. In it, she lays out the framework for businesses to follow as she explains how necessary it is to be perceived as trustworthy and committed to good causes.
What’s causing this sea change in the way companies need to operate? It’s happening because people want it to, Thompson says. Much of this demand actually comes from millennials, who hold strong values—they often want work to “feel like a community,” Thompson says. That’s part of what explains that high turnover rate, as millennials seek out fair and ethical businesses to work for. These ethical ideals have moved into the public consciousness as the millennial generation has entered the workplace and now has money to spend as they see fit. As more businesses involve themselves in charitable giving and sustainable practices, it’s important to remember how this phenomenon started in the first place.
Takeaway
We as millennials can’t be ignored. The proliferation of ethical businesses goes to show the power we have as a generation to enact change and influence companies that influence us as well as the rest of the world.
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