{"id":524239,"date":"2024-06-18T02:00:14","date_gmt":"2024-06-18T09:00:14","guid":{"rendered":"https:\/\/www.genesys.com\/?post_type=announcements&#038;p=524239"},"modified":"2024-06-17T13:46:49","modified_gmt":"2024-06-17T20:46:49","slug":"new-genesys-report-highlights-millennials-influence-on-global-customer-and-employee-trends","status":"publish","type":"announcements","link":"https:\/\/www.genesys.com\/en-gb\/company\/newsroom\/announcements\/new-genesys-report-highlights-millennials-influence-on-global-customer-and-employee-trends","title":{"rendered":"New Genesys Report Highlights Millennials\u2019 Influence on Global Customer and Employee Trends"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_section full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1572299908147{padding-bottom: 0px !important;}&#8221;][vc_row equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221;][vc_column][vc_column_text css=&#8221;&#8221; el_class=&#8221;pre_h1&#8243;]06\/18\/2024[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h1><span class=\"TextRun MacChromeBold SCXW99282370 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW99282370 BCX0\">New Genesys <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">R<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">eport <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">H<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">ighlights <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">M<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">illennials\u2019 <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">I<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">nfluence on <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">G<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">lobal <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">C<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">ustomer and <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">E<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">mployee <\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">T<\/span><span class=\"NormalTextRun SCXW99282370 BCX0\">rends<\/span><\/span><span class=\"EOP SCXW99282370 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:2,&quot;335551620&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/h1>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1572297878492{padding-top: 0px !important;}&#8221;][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<b><span data-contrast=\"auto\">LONDON<\/span><\/b><span data-contrast=\"auto\">,<\/span><b><span data-contrast=\"auto\">\u202f18 June 2024<\/span><\/b><span data-contrast=\"auto\"> \u2014 <\/span><a href=\"https:\/\/www.genesys.com\/en-gb\/\"><span data-contrast=\"none\">Genesys<\/span><\/a><span data-contrast=\"auto\">\u00ae, a global cloud leader in AI-Powered Experience Orchestration,\u202fannounced the release of a new research report, \u201cGenerational dynamics and the experience economy.\u201d The report delves into the intricate dynamics of four distinct generations \u2014 Generation Z, millennials, Generation X and boomers \u2014 to help businesses understand the evolving preferences and needs of today\u2019s consumers and workforce.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">From varying attitudes toward AI adoption in the workplace, to differing expectations for customer service personalisation, to preferences for communication channels and brand values, the report\u2019s findings emphasise the complexity for organisations to orchestrate experiences that meet diverse sets of needs effectively.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While the Genesys research revealed distinctions among generations spanning North America, South America, Europe, the Middle East and Asia-Pacific, it also revealed a striking number of similarities. Despite cultural differences, customers and employees share many of the same expectations for brands.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For example, quality and price are the most important factors in consumers\u2019 buying decisions across all regions and among every generation. As employees, Gen Z and millennials worldwide value a supportive work environment and culture, flexibility and work-life balance over good compensation, recognition, and benefits.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Each generation brings its own unique perspectives, preferences and expectations to their brand interactions. To drive loyalty today, organisations need to deeply understand their customers and employees to ensure their experiences resonate.<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Key Findings<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Millennials Set the Bar for Customer Satisfaction:<\/span><\/b><span data-contrast=\"auto\"> Both as employees and as customers, millennials have the highest standards for customer service of any generation, globally. Their expectations surpass those of other generations, for example, when ranking importance of personalised interactions (65% versus 49% of boomers), a seamless transition between different communication channels (71% versus 54% of boomers), convenient self-service options (63% versus 31% of boomers) or proactive status updates (71% versus 62% of boomers).<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;134224900&quot;:false,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Younger Generations Influenced by Technology:<\/span><\/b><span data-contrast=\"auto\"> On a global scale, 55% of millennial consumers reported that a brand\u2019s use of emerging technologies in customer service was a critical consideration, with less than half of boomers reporting the same (22%). This desire manifests in their perspectives as employees as well. Sixty-seven percent of Gen Z and millennials expect their employers to provide the latest technologies, with Gen X and boomers close behind at 60%.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;134224900&quot;:false,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Peer Opinions Move the Needle:<\/span><\/b><span data-contrast=\"auto\"> Younger cohorts, notably Gen Z and millennials, place a high value on the opinions of others, with 68% of Gen Z and 76% of millennials saying that they rely on customer reviews and ratings in their purchase decision-making. Gen Z followed closely behind at 62%, while only 39% of boomers said the same.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;134224900&quot;:false,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Personalisation Should Be a Priority:<\/span><\/b><span data-contrast=\"auto\"> Across all generations, personalisation across channels emerges as a critical expectation, with younger cohorts being notably more willing to share data for personalised service. More than two in five (43%) of Gen Z and millennials reported their willingness to provide additional information in exchange for a personalised experience.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;134224900&quot;:false,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Expectations for AI:<\/span><\/b><span data-contrast=\"auto\"> Though regional and generational variances exist, most employees do not have a fear that AI will replace their jobs. Only 10% of GenZ\/millennials and 7% of GenX\/boomers worry about this in the long run. <\/span><span data-contrast=\"auto\">While nearly a quarter (23%) of GenZ\/millennials and 19% of GenX\/boomers already see AI&#8217;s potential to improve their job efficiency, organisations should see this as an opportunity to educate and train their employees on the benefits of AI.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;134224900&quot;:false,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Employees United on Flexibility: <\/span><\/b><span data-contrast=\"auto\">While many businesses struggle to strike the right return-to-work balance, employees of all ages agree on the need for flexibility. <\/span><b><span data-contrast=\"auto\">Seventy-one percent <\/span><\/b><span data-contrast=\"auto\">of Gen Z\/millennials said they would prefer to work for a company that offered options for hybrid or remote work. Gen X\/ boomers were closely aligned at 70%. <\/span>\u00a0<span data-contrast=\"auto\">Not only is flexibility a preference, it\u2019s also an expectation. Of the Gen X and boomers surveyed, <\/span><b><span data-contrast=\"auto\">71%<\/span><\/b><span data-contrast=\"auto\"> stated that flexibility and work-life balance is a top expectation of their employer. <\/span><b><span data-contrast=\"auto\">Sixty-six percent<\/span><\/b><span data-contrast=\"auto\"> of Gen Z and millennials agreed.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">In a time where remarkable experiences are the expected \u2014 whether a large global enterprise or small, local business \u2014 the report underscores the transformative power of delivering on the unique expectations of each generation to foster long-term loyalty and business growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">EJ Cay, VP of Genesys UK&amp;I, said: \u201cOur latest findings shine a light on the unique expectations of each generation, offering UK businesses an exciting opportunity to foster long-term loyalty and drive growth. Millennials, for instance, are raising the bar with their demand for personalised services and cutting-edge technology. This could be a game-changer for organisations looking to improve customer satisfaction levels. \u202fAdditionally, the widespread call for flexibility and supportive work environments across all age groups is a clear message that can&#8217;t be ignored. By tuning into these diverse preferences, UK organisations can craft standout experiences that deeply resonate with their customers and employees, paving the way for sustained success in an ever-evolving market.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To learn more about what\u2019s driving today\u2019s consumers and employees, read the full global report, \u201cGenerational dynamics and the experience economy\u201d <\/span><a href=\"https:\/\/www.genesys.com\/resources\/generationaldynamics\"><span data-contrast=\"none\">here.<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Methodology\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Genesys commissioned Savanta, Inc., to conduct a global survey of nearly 13,000 adults across five global regions and 21 countries, which was fielded during February and March 2024. The survey explored their expectations, perceptions and experiences as both consumers and employees.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">About Genesys<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Genesys empowers more than 8,000 organisations in over 100 countries to improve loyalty and business outcomes by creating the best experiences for customers and employees. Through Genesys Cloud, the #1 AI-Powered Experience Orchestration platform, Genesys delivers the future of CX to organisations of all sizes so they can provide empathetic, personalised experience at scale. As the trusted, all-in-one platform born in the cloud, Genesys Cloud accelerates growth for organisations by enabling them to differentiate with the right customer experience at the right time, while driving stronger workforce engagement, efficiency and operational improvements.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Media Contacts<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Sarah Logan, <\/span><span data-contrast=\"auto\">Genesys<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><a href=\"mailto:Sarah.Logan@Genesys.com\"><span data-contrast=\"none\">Sarah.Logan@Genesys.com<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Brands2Life<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><a href=\"mailto:Brands2Life@genesys.com\"><span data-contrast=\"none\">Brands2Life@genesys.com<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_section full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1572299908147{padding-bottom: 0px !important;}&#8221;][vc_row equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221;][vc_column][vc_column_text css=&#8221;&#8221; el_class=&#8221;pre_h1&#8243;]06\/18\/2024[\/vc_column_text][vc_column_text css=&#8221;&#8221;] New Genesys Report Highlights Millennials\u2019 Influence on Global Customer and Employee Trends\u00a0 [\/vc_column_text][\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1572297878492{padding-top: 0px !important;}&#8221;][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]LONDON,\u202f18 June 2024 \u2014 Genesys\u00ae, a global cloud leader in AI-Powered Experience Orchestration,\u202fannounced the release of a new research report, \u201cGenerational dynamics and the experience economy.\u201d The report delves [&hellip;]<\/p>\n","protected":false},"author":942,"featured_media":0,"template":"","class_list":["post-524239","announcements","type-announcements","status-publish","hentry"],"acf":{"news_date":"06\/18\/2024","meta_title":"","meta_description":"","no_index":false,"no_follow":false,"meta_twitter_title":"","meta_twitter_description":"","meta_facebook_title":"","meta_facebook_description":"","custom_canonical_url":"","utm_pass":false,"disable_chat":false,"asset_expiration":"","enable_external_utm":false},"news_date":"2024-06-18","_links":{"self":[{"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/announcements\/524239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/announcements"}],"about":[{"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/types\/announcements"}],"author":[{"embeddable":true,"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/users\/942"}],"version-history":[{"count":2,"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/announcements\/524239\/revisions"}],"predecessor-version":[{"id":524242,"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/announcements\/524239\/revisions\/524242"}],"wp:attachment":[{"href":"https:\/\/www.genesys.com\/en-gb\/wp-json\/wp\/v2\/media?parent=524239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}