I was recently joking with a friend about the fact that their cell phone was so old. In just a few weeks it will be four generations old – GASP! How can they even function on such a dated device?? It can’t possibly do any of the things that my current device does! They have no idea what they’re missing! I’m kidding… kinda… Like phone technology, the pace of change in business is advancing so rapidly and it is impacting the way that business is conducted in so many ways.
According to some estimations, as much as 75% of the workforce will be comprised of Millennials by the year 2025*. This might sound like the distant future but it’s less than 10 years away. Businesses must look to advance their technology and processes now to get ahead of Millennial expectations or they will be left behind. Organizations taking action today will quickly gain market share over those who do not.
We know that the Millennial generation has grown up in a technology sandbox and has integrated technology into every aspect of their lives. What does this mean for hospitality organizations? Consideration MUST be given to how you are doing business. But what do they want?
Millennial planners today are very clear about their expectations.
They want to…
- Evaluate a venue and its event space from their mobile device
- Book meetings directly online
- Collaborate online with a venue when planning all aspects of an event
- Utilize technology in a single location or app to manage all event details
- Have access to real-time information 24/7
- Make change requests and collaborate with the venue online –during the planning process and when onsite
- Work through challenging problems and find resolution through creative options
So what is next?
Given that many Millennials are already in the workforce, slowly nearing the 50% mark of many teams, you likely have already started making some changes – congratulations. You’re on the right track. If you haven’t started, now is the time to start making adjustments.
Consider too that the changes won’t stop with the Millennial generation. Early assessments show that the “Post” Generation that follows Millennials will continue the trend of more changes in how business is conducted:
- They will have a more sophisticated set of expectations for high-quality content and resources.
- They’ll have a higher level of interest in community and collaboration – not just accepting the “experts” because they have always been there.
- And, they’re likely to be far more pragmatic, going with solutions that work best for them, not with the status quo because that’s what’s always been done.
What business processes need consideration?
The best place to start is with addressing the needs that your customers are presenting. As noted above, the new generation of planners is looking to find efficiency in the planning process. They want to enable online collaboration and keep up with the pace of business by using technology resources, their native environment. Are you giving them the tools they need to achieve these goals?
Today’s technology solutions are specifically designed to meet the needs of those looking to grow their business in a way that encompasses the current trends of social and mobile business. Empower your team and planners to collaborate online, and in real-time with integrated solutions that enable your customers to self-serve by accessing their event information online 24/7/365. Whether planners want to directly book their business online or just obtain answers to their critical planning questions, providing them the tools they need will ensure they return to your property in the future.
With over 30 years of experience in the hospitality technology space, we’re innovating daily to ensure that you have the tools you need to keep pace with today’s business changes. Let us show you how.