Compiled by Satyaki Dutta
The Millennial generation, or as they are referred in the popular media, the ‘Generation Y’ are the demographic segment of the population who are born in early 1980 till 1994. This was the first generation that came of age in the new millennium, consists of the tech-savvy workers as they grew up in the digital age. According to the revised end year of 1996 by Pew Research Centre, it is expected that Millennials will surplus their predecessor, Baby Boomers into the largest living generation in size by 2019.
Role of Millennials in the economy: Millennials are already a very important cog in the international economic field, with this huge population size and work efficiency in the cyber sector. The basic work ethics and attitudes are highlighted in a report published by Adecco. They appreciate a work-life balance, goal-oriented and enjoy multi-tasking. Along with their efficient work practices, millennials have begun to get the most out of a work perk, “Bleisure Travel” or the trend of amalgamation of leisure activities when away in business trips. This trend is on the rise, staying true to their work-life balance tendencies and providing a better quality of life.
The National Car Rental 2019 State of Business Travel Survey was conducted in 2018, among 1,000 U.S. frequent business travellers with 25 to 65 years of age range participants. They are full-time employed and travelled in past one year for business for more than eight days. The survey has highlighted some interesting statistical facts which are given below:
- 90% of millennial have engaged in Bleisure travel in the past year, compared to 81% of Generation X and 80%of Baby Boomers. The trend is being popularised actually by the influence of the millennial in social media and pop culture, especially with their budget-conserving approach.
- Nearly half (49%) of millennials have extended business travel into a leisure trip or arranged for a vacation around business travel to save the flight cost, compared to 34% of non-millennials.
- Specific travel goals: The survey shows that all the workers but the Millennials, in particular, are increasingly blending business with leisure activities, with nearly a third want to take on these trips to explore specific target points.
- Effect on life-views: The assumption is not only just blank words but justified by the facts also. The people who take part in Bleisure travel, are more likely to be satisfied with the quality of life than their counterparts (93% vs. 75%) and work-life balance (87% vs. 64%).
- Beyond those benefits and positive sides, there are common misconception and stigma around the concept of Bleisure travel among the Millennials. Around 45% of Millennials try and avoid telling in social media or in public about taking time off for leisure activities while on an official/business trip, compared to 30% of Baby Boomers and 40% Gen-X. Fortunately, this stigma is going away as the senior Millennials are going from Junior-level employees to the managerial posts. In fact, the neo-bosses encourage their team members to take time for their own selves on a business trip (76%) compared to 51% of other generation bosses, who do not encourage this trend.
- The millennials depend on technology to connect with their work and social circle even on a trip. Around 93% of frequent flyers actually prefer the brands and companies who connect with technology to make the travel experience simple and more immersive, along with app usage.
- While opting for Bleisure travel, Millennials (46%) tend to choose the brands on technology availability compared to Gen X (37%) and Baby Boomers (35%).
- The millennials utilizing the work perks to convert an official tour into a Bleisure trip tend to bring their spouse along (33%) compared to Gen X (22%) and baby boomers (17%), and they share photos of their experiences on social media (72%) compared to Gen Xers (60%) and baby boomers (41%).
- More than 31% choose if the travel will be Bleisure or official depending on the destination itself, more than their current workload(25%) and whether they can afford it(11%). Sightseeing is the single most popular leisure activity among the Millennials (75%), more than relaxing in front of the television (66%) or calling/texting/video chatting with family (62%).
The market scenario is vastly different from the last few decades when it was the employers’ market with enough skilled talents around. With a drop in production level, the employee had to go, being replaced by a new hire. However, the Millennial general shifted it to the employee’s’ favour with a proper valuation of skills. To keep the talents acquired, the companies are trying to keep them happy with work perks, and the above statistics are just a result of this approach through a comprehensive perk programme.