Micro Markets for Millennials- The new Water Cooler
Millennials have recently surpased the other generations to corner the largest share of the US labor market. For the first time in history, individuals who grew up in the digital age are bringing in new ideas and making demands on the type of work environment they live in. They are also the generation most likely to switch companies in 2-5 years, leading organizations to adopt new methods of attracting Millennials and keeping them engaged.
Micro-Markets add to a company’s ability to retain Millennials because of their advanced technology, unique break-room experience, and ability to offer diverse products.
Here are 5 ways that Micro-Markets can appeal to the new generation of workers:
Strong Company Culture
Millennials are not easily “impressed by the sheer scale of a business, its age, or the general buzz that surrounds it Therefore, companies striving to attract and retain Millennials should invest in tools that will foster a strong culture, including organization transparency, technology, and food. Micro-Markets offer quality products, open layouts, multiple payment options (including fingerprint and payroll deduct), and employee discounts.
Having a Micro-Market is a great way to show millennial employees that their employer is not only interested in work output, but their nutritional input. According to Forbes, for Millennials, “a job is no longer just a job ― it's their life as well.” To attract and retain this type of worker, companies need to demonstrate mutual investment in their lives by offering ways to maintain the lifestyle they envision for themselves while working hard for the organization. That includes diverse product offerings, dietary foods, and the ability to make choices based on nutritional information.
Open, Collaborative Space
Micro-Markets lend themselves well to modern spaces. The open flow of the market combined with comfortable seating, such as couches or booths, gives the millennial worker a place other than the boardroom to interact and collaborate with coworkers. Micro-Markets are the new water cooler.
Healthy Food Options
Most Millennials say that they are using healthy foods as a preventative measure for illness and disease . Micro-Markets can help employers capitalize on this growing trend towards healthier lifestyles by stocking nutritional foods, including gluten-free and protein-rich options Micro-Markets also enable the availability of fresh fruits, vegetables, yogurt, salads, and other prepared foods.. These products can be leveraged to tie the break-room experience into a company’s overall wellness initiatives.
Local, Sustainable Products
Micro-Markets enable stocking of locally-sourced products, thus protecting the environment and supporting the local economy. According to a recent study, over 60% of Millennials say they’re willing to pay more for products and services that come from companies that are committed to positive social and environmental impact. Millennials want to feel good about the products they’re purchasing and their impact on the world. They want to know they have a good “foodprint” Providing local products enhances positive experiences and loyalty with Micro-Markets.