Millennials are propelling traditional corporations to revise the way they conduct business.

As this group joined the workforce, they have been very vocal about wanting their opinion to be heard. Typically, with traditional corporations in the past, new ideas or concerns take a while to reach the top, and now we are starting to see flatter structured companies. PricewaterhouseCooper states, “Millennials tend to be uncomfortable with rigid corporate structures and turned off by information silos. They expect rapid progression, a varied and interesting career and constant feedback. In other words, millennials want a management style and corporate culture that is markedly different from anything that has gone before — one that meets their needs.”

In addition to internal transformations, millennial buying power is also transforming corporations externally. Millennials tend to choose products or services that have a more personalized feel instead of the stiff corporate culture. Their impact is accelerated by social media, mobile devices, and the internet. We are also seeing trends where millennials are seeking items that enable personalized experiences.

To summarize, Jeff Fromm claims, “Millennials are clearly craving services that can adapt as quickly as the generation itself is changing. They are uninterested in following the norms just for the sake of fitting in, and instead desire less stuff and more meaningful and tailored experiences. Their disruption of traditional life paths is changing retail as they shape purchases around their values. Brands that listen to consumers and find opportunity among their evolving wants and needs rather than in spite of them are the ones to watch.”

All feedback and comments are welcome! Mary Schlaff is the Director of Business Development at Clift Marketing Inc, a pioneer in asset management with extensive commercial real estate and banking industry knowledge. For more information, visit our website www.cliftmarketinginc.com. For further contact, Mary can be reached at 910.695.0884 or mary@cliftmarketinginc.com.