As featured in the January Edition – Micro Market News from VendingMarketWatch.com
5 Ways MicroMarkets Serve the Millennial-driven Workplace
According to Deloitte University Press, Millennials “have recently inched past the other generations to corner the largest share of the US labor market.” For the first time in history, individuals who grew up in the digital age are bringing in new ideas and making demands on the type of work environment they thrive in. They are also the generation most likely to switch companies in 2-5 years (Deloitte, 2016), leading organizations to adopt new methods of attracting Millennials and keeping them engaged. MicroMarkets add to a company’s ability to retain Millennials because of their advanced technology, unique breakroom experience, and ability to offer diverse products. Here are 5 ways that MicroMarkets can appeal to the new generation of workers:
Strong Company Culture
Millennials are not easily “impressed by the sheer scale of a business, its age, or the general buzz that surrounds it (Deloitte, 2016).” Therefore, companies striving to attract and retain Millennials should invest in tools that will foster a strong culture, including organization transparency, technology, and food. MicroMarkets offer quality products, open layouts, multiple payment options (including fingerprint and payroll deduct), and employee discounts.
Having a MicroMarket is a great way to show millennial employees that their employer is not only interested in work output, but their nutritional input. According to Forbes, for Millennials, “a job is no longer just a job ― it’s their life as well.” To attract and retain this type of worker, companies need to demonstrate mutual investment in their lives by offering ways to maintain the lifestyle they envision for themselves while working hard for the organization. That includes diverse product offerings, dietary foods, and the ability to make choices based on nutritional information.
Open, Collaborative Space
MicroMarkets lend themselves well to modern spaces. The open flow of the market combined with comfortable seating, such as couches or booths, gives the millennial worker a place other than the boardroom to interact and collaborate with coworkers. MicroMarkets are the new water cooler.
Healthy Food Options
Nearly 80% of Millennials say that they are using healthy foods as a preventative measure for illness and disease (USA Today, 2015). MicroMarkets can help employers capitalize on this growing trend towards healthier lifestyles by stocking nutritional foods, including gluten-free and protein-rich options. Items such as Jack Link’s beef jerky and Wonderful pistachios are simple offerings to start with. Believe it or not, many common vending products serve this purpose, if you know what to look for. KIND Bars, Sargento cheese sticks, and Orville Redenbacher popcorn are some healthier gluten-free snacks. (But be careful, as gluten-free products can vary by brand!) MicroMarkets also enable the availability of fresh fruits, vegetables, yogurt, salads, and other prepared foods. These products can be leveraged to tie the breakroom experience into a company’s overall wellness initiatives.
Local, Sustainable Products
MicroMarkets enable stocking of locally sourced products, thus protecting the environment and supporting the local economy. According to a 2015 Nielsen study, 66% of Millennials say they’re willing to pay more for products and services that come from companies that are committed to positive social and environmental impact. Millennials want to feel good about the products they’re purchasing and their impact on the world. Providing local products enhances positive experiences and loyalty with MicroMarkets.
Looking for away to refresh your breakroom and enhance your company’s culture? Watch this video and see how 365 Retail Markets and Fixturelite can help.
Also featured this month…
Five Star Food Service never settles. The Chattanooga, TN-based company, a leader in micro market installations, has not only placed more than 500 micro market locations, but is also expanding the concept to be more inclusive of today’s changing workplace. The company recently launched a new micro market concept, dubbed the “Micro Market Lounge”…continue reading.