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It is typically used to describe people born between the early s and late s. This figure is likely to increase.
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It is therefore key that businesses engage positively with millennials and understand what motivates them. Yet, that is not happening effectively today. Many millennials are restless and disengaged. So how can businesses reverse this trend? From the outset, they need to understand how important impact, recognition and a regular exchange of advice and opinions is to millennials — and adapt their approach accordingly.
Young employees are motivated by the opportunity to contribute to projects and come up with new ideas that make an impact.
Motivate This! Actionable Behavioral Insights: Jeff Kreisler
Social media has played a part in how this generation interacts. They are used to having their say on all kinds of topics — and they want to have their voice heard. Regular, honest, real-time feedback is also appreciated by millennials. This instant engagement and response is what younger generations crave. They have, after all, grown up with it via online tests, instant technology and real-time communication — and they want this kind of approach to be reflected in the way that their employer engages with them.
Millennials are often impatient for success. They are looking for ways to fast-track their careers and they expect their employer to recognise their efforts and reward them. The lesson for business is: if you invest in their careers and give them training and development opportunities, they are more likely to stay with you. The overall working environment is also very important to millennials. They want to work somewhere that has a flexible culture suited to their needs.
Typically, they care just as much about how happy they are in their work environment and their experiences.
In shaping these experiences, technology is likely to have a key role to play. They expect their workplace to keep up with the times.
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It is important that organisations recognise that younger generations have grown up with rapid advancements in technology and communication channels, which have changed the workplace. It is equally key that they offer technology that millennials both want to use for training sessions and internal meetings, and see as supporting a flexible workplace culture that promotes positive engagement and recognition for all.
Managing the company's finances entails spearheading corporate finance initiatives to assure the company has enough operating capital, maintaining good relations with the company's financial institutions, investing the company's extra cash at the highest return and lowest risk, monitoring the company's cash needs, overseeing the operations of the accounting department, and reporting the company's financial results to the board of directors and other key stakeholders.
The financial manager also shares responsibility for maintaining the company's compliance with corporate governance best-practices. The main goal that always motivates all actions of a financial manager is the uninterrupted financial health of the company.
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The board of directors is in charge of setting direction and performance goals for the CEO to carry out. The CEO is in charge of creating strategies and tactics to meet the goals set by the board. The financial manager is in charge of making sure the company has enough capital, and sources of capital, to accomplish these goals. Reliable growth and good future prospects are the desired result of good financial management supporting the strategies and tactics of the CEO.
A good financial manager can juggle forecasting of revenue with cash supplementation in the event of any revenue shortfalls. Supplemental financing comes in the form of factoring, short and long-term credit lines. Each form has its own set of benefits and disadvantages. It is the job of the financial manager to judge which financing form is best suited to the company's needs and future performance.
If the financial manager does not perform, the company can run out of cash at a key moment in its development and find it difficult to obtain financing. In other words, part of the financial manager's goal of maintaining uninterrupted financial health relies on keeping the company's credit rating high so that when revenues are unexpectedly low, the company has no problem obtaining interim financing from its financial institutions. Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager.