Millennials + Professional Organizations = Social Capital
This month, we delved into the minds of younger Americans to figure out how and why they interact with professional organizations (POs) and the steps that POs can take to make themselves more relevant in today’s day and age.
It’s becoming clear that there is a sort of resurgence of professional organizations – reflected in the fact that 58% of the under-40 population is part of a PO or community. Even in looking to individuals who are not part of a PO, we find that 77% actually intend to join one soon.
Why is this? It is no secret that employment numbers for this sector of the population are less than ideal. And the task of finding a job – a suitable job- becomes even more difficult when you consider the pressure to move to higher levels of education, the ever-increasing level of student debt, and other various factors.
Now, more than ever, there is a demand for institutions that can help individuals gain relevant experience, make meaningful connections, and gain social capital – and POs have the ability to fill that need. That’s why we see 92% of individuals under 40 who strongly believe that membership in today’s professional organizations provides strong opportunities for them.
But there is still some progress that needs to be made. It’s common sense, but POs need to look at what the people want and tailor their services accordingly.
For all the POs out there, take note that 37% revealed that they did not see value in staying as a member. But organizations are dealing with this issue. Take a look at YEC, which caters to young entrepreneurs and works to build connections among them, or Levo, which focuses on mentorship and guidance for Millennials as they navigate within their careers.
Bottom line? Figure out a way to give them the value that they are looking for!