The Rise of Urban Team Building
By Brian Bullock Chief Operating Officer, Restaurants, Legacy Ventures | September 18, 2016
Last year, millennials surpassed Generation X to become the largest generation in the U.S. workforce. They also may be history's most fickle generation. Two-thirds of millennials plan to leave their current organizations by 2020, according to a recent survey by Deloitte. Additionally, 44 percent said they would leave their current employers within the next two years if given the choice.
So it's not surprising that businesses are adjusting everything – from office space to company culture to the way business is conducted – to cater to millennial wants and needs. Companies have recognized that attracting and retaining top talent from this burgeoning generation is no joke, and those that fail to do so face losing a significant amount of interest from today's millennials.
Yet there remains one last bastion of corporate America that millennials haven't altered and don't appear inclined to: face-to-face meetings. According to a 2014 study by Cornerstone OnDemand, 72 percent of millennials indicated they prefer face-to-face meetings rather than, say, those awkward conference calls, FaceTime meetings and impersonal email strings. Face to face means more personalized, more in-person meetings, and more events. That means companies must continue investing in off-site meetings and events, whether in their same city or a separate location.
How they select those meeting sites – and what experiences they include – hold the key to attracting and keeping the millennial workforce happy. Based on our experience, we've identified several of those key factors that companies should consider as they pick the location of that next retreat or training session.
As you'll discover, location is still paramount, but so is urban, walkability, teambuilding, connectivity and personalization.
Location, Location, Location
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