The Power of the Millennial Generation

Rajakumar is a Senior Consultant working in a reputed IT company. He has successfully managed multiple customers' strategic projects. He has gained expertise by managing different types of projects including end-to-end Development, Maintenance & Support, Production Support and Hybrid. Currently he is a faculty member in the Project Management Academy. He trains and mentors potential project managers and project leaders in his organization.

  Applications Delivery   CRM   Information Technology   Requirements Management   Stakeholder Management  

Do project managers need to understand millennials? What do they gain with that knowledge? Millennials can influence the current market, so it’s essential that innovative solutions are provided to the customer--and solutions that are personalized.

Millennials now represent the largest generation in the United States. As research indicates, 75% of the global workforce will be millennials by the year 2025. The study shows that more millennials have college degrees than any other generation of young adults--and are thus more likely to earn higher wages. This shows that they would be the primary consumers for most of the business segment. Due to their increase in purchasing power, they can influence the business world. Hence, IT solutions should be customized based on their preferences.

Who are millennials?
We have various generations of people: baby boomers, Generation X, millennials, Generation Z. There are various definitions for the millennial generation. Some say it’s comprised of people born between 1980 and 2000; some say 1976 and 1990; others 1978 and 1998. For the purpose of this article, let’s assume the generation is those born between 1980 and 2000.

What are their preferences?
Research shows that every generation has specific preferences and similarities. Some of the millennial preferences are:

• Mobile savvy
• Use social media …

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