How Millennials Are Transforming Social Entrepreneurialism

In the world of social entrepreneurialism, changes in technology and social media have been a big boon. But the impact of millennials entering the field has been the biggest boon of all.

Millennials now make up over one third of the workforce, which means they are the largest individual segment in the market. Changes in the field of social entrepreneurialism are already taking place as a result. 88 percent of millennials say they’re interested in working for an entrepreneur, and more than half express interest in starting a business of their own someday.

Millennials, more dedicated to a work life that gives them meaning than previous generations, are more naturally drawn to social entrepreneurialism with a general desire of making the world a better place.

“I think both as a product of technology and of their immense talent, Millennials have tremendous options. If they aren’t happy in their roles or if their skills are not being fully utilized, this generation is particularly savvy in its ability to pivot and seek out new opportunities,” said Baltimore Corps CEO Fagan Harris. “Millennials are more active in seeking out work that is highly meaningful to them, and that often translates to cause-driven work.”

In an interview with Conscious Company Magazine, entrepreneur Radha Agrawal described the millennial mindset and what they seek from work. “If I were to draw a Venn diagram, there’d be three circles: one circle would say community, one circle would say wellness, and one circle would say fun,” Agrawal said.

Companies that want to take advantage of this millennial desire for self-satisfaction from their employment need to refocus their efforts on reaching out to millennials, and companies that want to reach out to the growing consumer body of millennials are dipping their toes in activism if only to attract the millennial crowd, as well.

In addition, the instant-gratification attitude of millennials often produces a get-it-done attitude that coincides well with entrepreneurialism, making them excellent candidates with sufficient motivation for change and the drive to try and achieve it.

Millennials are fans of collaboration, which means they desire in some way to work with others to produce results, even if they’re the target. “Companies that understand this and figure out ways to engage in this co-creation relationship with millennials will have an edge,” said entrepreneur Jason Haber. This is a willing and available force of people with similar goals of improving the world, and taking advantage of it can be a huge boon to activist organizations.