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Millennial-Style Accounting: How to Modernize Your Business to Attract Millennials

As a forward-thinking business owner, you need to consider the ways that you can transform your systems to accommodate new trends in the industry. Many start-ups and small businesses are looking for ways to attract Millennials as employees and customers. So, there are a few things that you need to do to shape company culture so that you can increase the likelihood that you will be able to work with this generation.

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Whether you have a big local office or you are managing work-from-home employees, there are a few things that you can do to ensure that you are adopting a millennial mindset. Our team at Easier Accounting is working hard to stay ahead of the trends in the industry, and we will gladly help you transform your system accordingly. We specialize in small businesses and startups, so we have the hands-on experience that you need to ensure that your company is in line with the millennial mindset.

Here are a few tips to help you get started:

Get Rid of the Paper and Go Digital

Most people have a smartphone in their pocket, so there is no reason to fill the office with stacks of paperwork. If you are stuck in the system of only handing out paper checks, then you might cause a little irritation for millennials. This generation wants to work in a digital world, which means that they prefer automated solutions such as direct deposit.

If you are still distributing paper checks, then right now is a great time to choose a payroll processing system that allows for direct deposit. Not only will you improve the system for your employees, but you can also save a rainforest at the same time.

Flexibility of Options

Millennials don’t like to be tied into one pathway, so you need to make sure that you offer multiple options to cater to their needs. Consider the pricing structure of your products or services to see if you are offering the variety of choices that people prefer.

Putting together a solid business plan can be one of the best ways that you can improve the success of your company. Make sure that you talk to your accountant to be sure that you are designing a plan that will help you prepare for the future.

Tech Savvy Systems

Implementing a system for tech-savvy employees is a great way to show that your business is keeping up with the trends. Use a software program that keeps real-time data and information about the employee’s paycheck and benefits. This information can be valuable if an employee has questions about their withholding or payment.

The right cloud-based software can make it easy for you to run reports from any location. This information is always in sync with the accounting team, so that you never have to worry about lagged reporting. Additionally, a secure cloud-based accounting system can keep the information protected to reduce the risk of confidentiality breach due to prying eyes.

Consistency and Organization

You need to make sure that you are setting the right tone for your company with the right organization and consistency. These habits will influence the attitude of your employees and company culture. If paychecks are always sent on time without question, then your employees will feel the security that is needed to feel safe at work. Also, good organization helps to build trust in the company to improve overall company culture.

These practices are important for interactions with customers as well. When you are organized with an effective billing system, then your customers will pay the invoices and come back to buy from your company again in the future. They want to know that you are on top of everything, giving them confidence in your product or service. As you build the confidence of your customers and employee, it helps to boost the brand of your company at the same time.

Other Ways to Build Company Culture for Millennials

In addition to upgrading your accounting system to cater to millennial employees and customers, you also need to think about ways that you can strengthen your brand to show that you are leading the industry. Many people agree that millennials are focused on the details. The best way to set your company apart from the competition is to look for the small ways that you can create a lasting memory for each person.

Here are a few things that you can do in your office to boost the mood of your team each day:

  • Snacks and Treats: Millennials love free food, and you can build your company brand by having a snack area for everyone to enjoy. For example, have a cupboard with candy bars, mixed nuts, and fruit to curb the afternoon hunger when the cravings hit. Also, consider putting a candy jar on the front desk to welcome customers when they come into your office to visit.
  • Coffee and Drinks: Most people like to start their day with a cup of coffee, and you can help everyone feel at home in your office by offering free coffee. This expense is minimal compared to the long-lasting culture that you can create for your employees and customers. A coffee pot and a small fridge with soda and juice can be a great way to help millennials enjoy their experience with your company.
  • Catered Meals: A few snacks can go a long way to curb the cravings, but you can gain extra “brownie points” by catering meals for your employees. Pizza Fridays or take-out sandwiches can show extra gratitude for your team. This strategy can also be used to attract millennial customers. Offer free food at introductory meetings, and you will attract a bigger crowd.
  • Modern Décor: You only have about five seconds to create a lasting impression for each person who walks into your office, so make sure that you are setting the right impression. If people walk in to see shabby carpet and worn furniture, then they will have a bad impression about the services that you offer. Transform the appearance of your office, and you will boost the impression that people get when they walk through the door.
  • Online Presence: Whether you have a brick-and-mortar business or everything is run online, you need to make sure that you have a strong internet presence to build your company brand. A professionally designed website, social media profiles, and other online features can establish your company as a leader in the industry. People spend a lot of time online each day, and they will gain confidence in your business when they see that you have put effort into your online campaign. Look for an accounting system that can be integrated into your website to streamline transactions and make it easy for customers to buy your products.
  • Casual Clothing: If you want to attract millennial employees and customers, then it is time to ditch the suit and tie. For many years, companies held strict dress codes that required business casual every day of the week. Some companies relaxed their standards a little bit with casual Fridays. Now, forward-thinking companies aren’t worried about the dress code. Employees and customers can be comfortable in t-shirts and jeans. In fact, some companies have found that productivity goes up when they take a casual approach to dress code and other non-essential corporate rules.

Thinking Outside the Box

Millennials love the forward-thinking attitudes that are found in business owners who are looking outside the box. If you want to attract the millennial crowd as employees or customers, then you need to take a hard look at your company culture and the daily practices that are influencing your brand.

Just because the corporate culture has been unchanged for so many years, it doesn’t mean that you need to be stuck behind the times in these old habits. A few small changes can go a long way to transform your business and help you reach higher levels of success. Show your employees and customers that you are staying ahead in the industry, and you will naturally attract people who want to buy the products and services that you are offering.

A digital presence, automated systems, and modern accounting practices are essential to creating the foundation for your business. Make sure that you hire an entrepreneur-minded accounting team, like Easier Accounting. We know that things are changing, and our goal is to ensure that you are maximizing your influence in the industry. We will help you stay ahead of the financial tracking and automate your accounting in a cloud-based system to improve the experience for yourself, managers, employees, customers, and more.

Are you ready to learn more about how these accounting services can help you connect with the millennial demographic that you are targeting? Then right now is a great time to schedule a consultation with our team. Here at Easier Accounting, we have the experience that you need to take your success to the next level. Call us to see how our accounting services can make a difference for the future of your business. We are here to help with anything that you need: (888) 620-0770