Notorious for their "sense of entitlement," people who are born between 1982 and 2000 often baffle and frustrate other generations. Known as the Millennials or Generation Y, they garnered a reputation of being ingenious but impatient, adaptable but demanding, and enthusiastic but disengaged at work.
In 2025, 75% of the workforce will be made up of this generation -- and so is one out of three American adults by 2020. As 55% of customer service interactions are done online, this digital-savvy group becomes a crucial demographic for any business that wants to adapt and stay relevant. They are understandably attractive to companies. But what makes a fair trade outsourcing company, or any company for that matter, attractive to them as a workplace?
This is not to say that those from other generations, say the Generation X, cannot thrive as customer care representatives or IT specialists . However, Millennials are born at a time of rapid and high-technological advancement. They grew up along with the increasing accessibility of the Internet and the miniaturization of mobile phones and computers.
Though instant gratification from high-tech devices may have made them seem impatient, their constant exposure to modern gadgets has gained them skillful use of computers. Adapting to online trends and developments comes easily to these "digital natives," and so they will prefer the ease and the familiarity of gadgets and virtual tools.
Good Compensation and Benefits
Freedom is a beloved word for Millennials. For some, this means attaining financial independence from their parents which allows them to pursue their interests or to sustain their ideal lifestyle. Instead of focusing on retirement, they save for long-term financial freedom that will enable them to travel, explore their varied interests, and go through memorable experiences.
Furthermore, this enables other young breadwinners to finance their families, or to pay for their own tuition. As a third world country, this is especially true in the Philippines, which has a growing BPO/KPO industry worth $23 billion.
In fact, it currently has the most call centers in the world. The Information Technology and Business Process Association of the Philippines (IBPAP) foresees the industry to support some 1.8 million Filipinos by 2022.
Because of currency arbitrage and the fact that most outsourced jobs come from the West, BPO/KPO salaries convert to large figures in Philippine peso.
Fast Career Advancement
With the continuous growth of the global outsourcing market, the industry will be teeming with job opportunities. Hearing about a small outsourcing company grow massively in a few years is not uncommon. This means promotions and new positions to fill as new accounts open and current ones expand. Pioneer companies are just as appealing as established firms since the industry is generally seen as stable and competitive, and regarded as one of the fastest-growing.
While many young people see BPO posts as stop-gap jobs, many others also realize that these can be potentially long-term careers wherein they can grow professionally and personally, and no longer need to leave their families to work abroad.
Flexibility of Work
According to a Forbes article, Millennials "seem to measure happiness not by the size of the paycheck, but by the richness of their lives and the moral or social value of the work they perform."
Their definition of success is not necessarily monetary abundance, but more about the the capability to lead the lives they want. They particularly value meaning and life-work balance.
The combination of the flexibility of work schedules and the competitive salaries at call centers allow them to pursue other plans, hobbies, and interests.
Furthermore, most call centers have more contemporary approaches to increasing employee engagement, such as thematic parties, team-building sessions, workshops, and gamification strategies, that appeal to Millennials.
Understanding how Millennials think and what they value most will help companies predict the present and future dynamics of the corporate world as they make up a significant part of the workforce and the consumer market.