A recent executive order that suggests people who identify as transgender will not be recognized in the United States’ armed forces reminds us we cannot take tolerance and acceptance for granted.
The motivations behind this type of action contrast starkly with the values of millennials — America’s largest generation according to population size. This demographic of adults ages 18 through 34 also is one of the nation’s most diverse. Twenty percent of millennials identify as LGBTQ, compared to 7 percent of baby boomers. Millennials also have made it clear they’re interested in companies and brands that support and reflect their values of inclusion and equality.
As millennials approach the peak of their professional careers, they’re primed to be the greatest spenders in the U.S. economy. They already make up more of the workforce than any other generation, and their impact on the U.S. economy is projected to be significant.
To harness millennials’ buying power, small-business owners should consider which steps they’re taking to express inclusivity as one of their business values. There is no formula for embracing diversity because it’s a practice. Each business will have its own, unique expression of these values. Here are some questions to help you consider if you’re doing enough to convey your mindset to prospective consumers.
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