Millennials Look to ‘Business’ to Solve World’s Greatest Problems

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IndiaCSR News Network

MUMBAI:  A 17-country study of millennials’ views on citizenship and the role of business has revealed sentiments starkly different from those of preceding generations.

Undertaken by MSL GROUP, the strategic communications and engagement consultancy of PublicisGroupe, the study reveals that Governments around the world are distrusted for their ability to solve some of the world’s greatest challenges alone.  By contrast, the increasing involvement of big business is seen as a key factor for success. In India, 77% of the 502 millennials surveyed felt that government can’t solve societal issues by themselves, and an astounding 90 per cent want to see corporations actively involved.

The India Chapter of the study, “The Future of Business Citizenship”, finds that millennials in India are a force to be reckoned with and companies must engage with them effectively to build trust and enhance reputation. Scott Beaudoin, global director of Corporate and Brand Citizenship at MSL GROUP stated, “With the explosion of social media and the dipping levels of trust in institution, businesses can no longer work in silos.

The study reflects that Indian millennials want companies to be more active in solving societal issues. In this changing environment, brands who integrate their business model with social change are more likely to sustain in the future and will gain more loyalty from this powerful generation.”Commenting on the landmark study, Pascal Beucler, Chief Strategy Officer at MSLGROUP, explained that millennials — the largest, most diverse and influential generation to date – are “game changers” in their expectations of  business with distinct ideas on how companies should behave.  He said,“The overwhelming majority of millennials believe corporate involvement in tackling issues such as economy, health and environment is a key factor to build a successful outcome.

Millennials look to businesses not only to lead, but to actively engage them in the process. This opens ups huge opportunities for businesses worldwide to re-set in the face of declining consumer trust. ”

Scott Beaudoin, global director of MSL GROUP’s Corporate and Brand Citizenship practice concluded, “By 2018, millennials’ earnings and spending power are projected to outpace those of baby boomers – little surprise that marketers are obsessed with them. The study findings demonstrate a clear path for corporations looking to engage with this influential generation: Business Citizenship is the new platform on which strong consumer ,employer and stakeholder relationships can be established and built.”

‘The Future of Business Citizenship’

In spring 2014, MSLGROUP teamed with Research One to interview 8,000 millennials in 17 countries. Our purpose was to examine and understand what citizenship and the role of business in citizenship means to this influential group born between 1984 and 1996.  Approximately 500 millennials in each of the following countries completed the 15-minute survey: US, UK, Germany, Italy, Sweden, Poland, Netherlands, France, Denmark, Hong Kong, China, India, Singapore, Japan, Canada, Brazil and Mexico.

MSLGROUP, India

MSLGROUP is India’s No1 strategic communications and engagement company. We are trusted advisors and storytellers for the conversation age to 220+ clients, offering integrated communications services, through four distinct brands: MSLGROUP, 20:20 MSL, MSLGROUP SOCIAL HIVE and MSLGROUP CREATIVE+. MSLGROUP in India, combined, includes 12 offices in 8 key cities, 550+ professionals and an activation network reaching an additional 125 Indian cities. Our extensive network, backed by our expertise, covers 8 specialty practice areas. Our thorough understanding of these areas, has translated into a proven track record of helping our clients engage with their audiences, 24×7.

 

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