The Millennial generation, like all others, is unique, and it’s important for us as storytellers, advisors, engagement experts and employers to understand their views and values.
Our global research study - The Future of Business Citizenship explores what millennials value as individuals and what they expect from businesses and the findings will help you demystify the expectation of today's new audience.
MSLGROUP's research and insights expert Nidhi Makhija-Chimnani shares 10 Insights that will convince you to embrace Business Citizenship, right now.
10 Insights that Will Convince You to Embrace Citizenship NOW
1. 10 Insights that Will Convince You to Embrace Business Citizenship NOWGlobal Millennial Study 2014
Nidhi Makhija-ChimnaniDirector, Research & Insights, MSLGROUPICCO Global Summit, New Delhi, October 2014
2. We surveyed 8,000 MillennialsIn 17 countries
15 minute online survey using Research Now Global Panel
To explore and understand what business citizenship means to Millennials
3. 3
Why Millennials Matter
1 The Millennial Survey 2014
Deloitte Touche Tohmatsu Limited, 2014
2,3 Global Mobile Media Consumption: Reaching Millennials
InMobi, February 2013
5. 1. Millennials have given up on government.
73%
Of Millennials don’t believe government can solve today’s issues alone
6. 1. Millennials have given up on government.
73%
Of Millennials don’t believe government can solve today’s issues alone
Watch: Aim Higher Than PresidentTedxTalkby Jeremy Heimans, co-founder Avaaz.org, GetUp, AllOutetc.
youtu.be/3OGK4Q6PKUI
8. 2. They expect business to pitch in.
83%
Of Millennials want business to get more activein solving issues.
9. 2. They expect business to pitch in.
82%
Of Millennials believe business can make a greaterimpactin addressing social issues
10. Compared to governments, businesseshave the potential and the possibility to make real change happen faster and more efficiently.
Businesses have the resources –from financial means, to collective intelligence, to technology –to contribute and make a difference. -Minting, 24, China
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11. But…
They want business to focus on micro issuesover vague macro categories, and on impactover ego
13. 3. They don’t expect business to do it alone.
69%
Of Millennials want business to make it easier for consumers to get involved
14. If we collaborate and join forces, we can make a big impact. We want to work on change.
We want to work for a business that is making change. We want to voteto make a change. We want to get together with people to make a change together. -Anne, 30, UK
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25. In most countries, only a few Millennials believe business is acting as a good citizen.
26. Does business also have a communications problem?
79%
Of Millennials wish it were easier to know which companies are doing good
27. -(Re)building reputations
-Attracting and retaining young talent and customers
-Succeeding at the bottom line
Corporate Citizenship + Purpose as the path to…
29. The 2% Rule
Companies with…
-net worth of over Rs500 cr/ $80 mn
-turnover of over Rs1000 cr/ $160 mn
-net profit of over Rs5 cr/ $800 k
Must contribute 2% of profit to social responsibility programs.
Currently, only 6% of companies are doing so1.
1forbesindia.com/article/real-issue/csr-report-card-where-companies-stand/34893
30. The 2% Rule
According to the IICA, the combined CSR commitment is expected to touch Rs20,000 crore or $3 billion2.
31. Indian Millennials
90% want business to get more involved
91% want to personally get involved in some way
32. Indian Millennials
Nearly 50% do not believe that business is currently doing a good job in this area.
33. Where are the next…
Tata Tea JaagoRe (2009 onwards)
SatyamevJayate(2012 –today)
Mahindra Spark the Rise (2011 –today)
AircelSave Our Tiger (2010 –today)