Millennials and Commercial Real Estate - Minot ND Commercial Real Estate
Millennials or Gen-Y, those born between 1980 and 2000, who are now between the ages of 18 to 34, number around 75.3 million. This surpasses those Baby Boomers (now aged 51 to 69) who number 74.9 million. How do we keep this new larger generation happy when talking commercial real estate?
There have been entire libraries worth of articles, books and panels all about the needs wants of this generation. All the architects, and work place experts are talking about how to design office space that will keep this generation happily productive and engaged. I’m sure it’s good for business, because a lot of middle aged execs are trying to figure out how to create just the right environment for today’s young and fun team members.
But are all Millennials the same, really?
Sure, each generations has common characteristics that determine its overarching character but why are experts throwing the word millennial out there whenever the word real estate is mentioned?
Often, in real estate articles you'll see mention of phrases such as" Millennials wanting we space instead of me space or that they want to be consulted instead of told stuff" or that they "require lots of recognition". All of a sudden, experts are completely concerned only with what Millennials want.
However, are we jumping to conclusions on this specific group known as Millennials? Can we really generalize a group this large with such ease?
Think about it, we're throwing into one pot different races, regions and religions not to mention gender differences. I bet not every Millennial likes Tay Swift or uses Instagram.
We're Not all Alike so Do What you Like
How about designing and operating office space based on the company and its desired culture instead on trying to please a certain generation which may be impossible to please? Remember what your mom told you about being all things to all people? You can't please everyone!
Everyone wants to retain key employees by making them happy in the workplace but who wants an employee that doesn't fit with the company's vision anyway. Design for the company not the employees.
However, there are some very interesting and creative design strategies coming out of this focus on Millennials. I am happy to see work and workplaces become fun again after the unfriendly and sketchy years of 2008-2011. I'm sure we all do.
Be encouraged to use a little common sense when the office experts show up with spiffy charts and pictures about the new “in” thing. Take your emerging leaders and simply ask them what is on their minds. Involve them in the process of design as you move forward with new office space. However, be sure that you still make the decision, as involving the very people you are trying to energize carries some risk... Be sure to design with integrity that is true to your leadership vision and the uniqueness of your business environment and you will win the Millennials, or whoever else for that matter, that you really want. Do this, and everyone will be happy.
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