How to Force Millennial Employees to Adapt to Your Company

With 53.5 million Millennials now at work in the United States, companies are used to figuring a way to force this generation into their old and outdated business expectations. However, it’s the companies that go out of their way to radically adapt their businesses to the expectations of Millennial employees that will succeed in the next decade. This is especially important to keep in mind now that we know that by 2020 more than half of the entire United States work force will be Millennials.

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Step 1: Get Rid of Your Assumptions

The first step of adapting your company to meet the expectations and desires of Millennial employees is to get rid of your immediate assumptions about the generation.

Instead of considering the workplace’s youngest generation lazy, selfish, uninvolved, and inexperienced, employers need to reframe their assumptions and view of the generation to see their strengths. Millennials are passionate, charitable, interested in learning, and ready for more responsibilities and experience.

Additionally, companies that push away technology from their employees should consider how Millennials embrace technology for professional purposes helping them be more productive.

 

Step 2: Consider Millennials’ Natural Motivations

Employers often consider what motivates their employees once they’ve already been hired, but companies that are ahead of their competitors will design the company culture and job positions with Millennials’ motivations in mind.

Although it’s different for everyone, Millennials as a generational cohort tend to value growth opportunities, challenging projects, the ability to help others, natural career progression, and a work/life balance.

In fact, it would not be odd to hear a young employee say, “I want to be recognized for doing a good job”, “Engage me in a passion of mine” or “I enjoy the flexibility and freedom of the position.”

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Step 3: Meet or Beat Expectations

Once you’ve prepared yourself and your company for the way Millennials work best, it’s on the management team to meet or even beat the expectations of their employees.

Imagine the disappointment one might have if they were told during the interview process that the company was looking for people who wanted to use their creativity to solve challenging problems, but each new idea they presented was passed over in favor of the tried and true. This has happened to me before and after a short period of time, both my employer and myself agreed that we were not a great fit for each other.

 

Step 4: Continue to Develop with Feedback

Millennial employees view feedback and input as a two-way street. They will gladly accept feedback and input if it is presented in a positive way, because they want to gain new skills and constantly improve.  At the same time, they expect their bosses and employer to take the feedback and ideas they provide and consider or even implement them for the betterment of the company.

The way companies adapt to Millennial workers continues to change, but if companies continue to accept feedback and adjust their expectations they are sure to be successful.

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The Newest Vacation Rental Necessity

Introduction

Have you heard of post-sale travel insurance?  The new concept is quickly becoming a vacation rental necessity for vacation rental retailers, property managers, and software providers.  In the next three minutes I guarantee that you’ll understand post-sale travel insurance and some of the ways it can help your vacation rental company meet your goals, obtain more profit, and build better relationships with your guests.  In addition, we’ll explore a few of the more popular reasons why guests purchase post-sale travel insurance.

What Is Post-Sale Travel Insurance?

Travel insurance is a common way to protect guests from the risks of travel, and most professionals in the vacation rental industry understand how it works.  Post-sale travel insurance, on the other hand, is new and different from any other travel insurance products.  The primary differentiator is that it can be sold after the booking and final payment date all the way up until 24 hours before the start of the guest’s trip, which benefits both guests and hosts.

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What Can Travel Insurance Do For Your Vacation Rental Company?

Post-sale travel insurance offers vacation rental companies an additional revenue stream without having to invest any resources, which means that all of the money generated is pure profit.  One software provider estimated that travel insurance could increase their profit per booking by up to 35% and that property managers could increase their profit per booking by 7%.

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Guests love a seamless online purchase process, so finding a travel insurance website that fits your brand and is easy for guests to use is the key to earning additional revenue.  Some companies will even help you create a customized travel insurance website free of charge and in a matter of minutes.

Post-sale travel insurance is incredibly popular with property managers, because it allows them to protect the long term relationships with their guests.  Any travel insurance that prevents guests from purchasing insurance after the final deposit date inherently limits which guests it will cover. What you want is a policy that can be offered to guests up until just before the start of their trip.

Insurance companies are often known as heavily regulated and difficult to work with.  However, post-sale travel insurance is just the opposite since it eliminates the need for insurance licensing and signing a contract.

What Can Travel Insurance Do For Your Guests?

Many guests find that post-sale travel insurance provides them with peace of mind when traveling, a rare occurrence for most guests.  Furthermore many guests are used to staying in hotels where cancellation conditions are very generous, in comparison to the strict cancellation conditions of vacation rentals.

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Post-sale travel insurance claims happen most frequently due to guest injury or illness.  Purchasing post-sale travel insurance helps guests protect against accident and medical expenses during their trip, and also protects against emergency medical evacuation.  Even if guests have a pre-existing condition, they can purchase a valid policy if it is bought within 20 days after their trip deposit is made.

Post-sale travel insurance is also extremely valuable in case of injury, illness, job loss, or a myriad of other covered reasons that might cause a guest to cancel all or a portion of their vacation rental reservation and/or trip.  By purchasing travel insurance the guest immediately transfers all of  these cancellation risks to the insurance company.

How To Get Post-Sale Travel Insurance

The best place to begin offering post-sale travel insurance is through www.pablow.com, which will allow you to create a customized travel insurance wpablow-splashebsite in just a matter of minutes without the licensing and contracts as mentioned above.  The website they provide is completely free and their affiliate fees are competitive with the rest of the industry.  Post-sale travel insurance can be yours in no time!

No One Will Read this Blog: How the Internet Killed Content!

For the past couple of years in digital marketing the narrative has largely been the same: “Content is King!”  All businesses from large corporations to small non-profits were told that they should manage their audience effectively, advertise when necessary, but above all else never compromise frequent content!  Not only is this now false, but we tell you what your number one priority should be in digital advertising for 2017.

It’s said that content can increase you search engine rankings, generate more social media views, drive potential clients to your website, and generate free publicity for your brand.  This is all true!  However, this only works if your content is unique and different than the rest of the Internet and people actually care about what you have to say, which are both significant barriers for companies of all sizes.

As a result of marketers pushing every company for more content, the Internet and our social networks have become inundated with very similar written and visual content that provides very little novel value to readers.  No one could possibly read all of the interesting content on their newsfeed!  The effect of this problem is that content no longer becomes a differentiator for companies; it’s simply a requirement for digital marketers that doesn’t carry very much weight.

We are seeing a regime change in the social media and digital marketing sphere.  Content is no longer King!  It has been replaced by engagement, which shows to be much more effective in building relationships and providing value to clients and cohorts alike.  It’s incredibly important that we change our focus toward reacting to posts, pictures, videos, and more by commenting, sharing, retweeting, liking, favoriting, following, and subscribing.

Changing the direction of our efforts from creating content to engaging with others and their content will take time, but those that embrace it first and see the value in building these online relationships within their social network can expect to see much better growth compared to competitors who subscribe to the old regime of digital marketing.

Questions?  Ask our company’s digital marketing expert and engagement specialist: Dylan DeClerck – dylan@pablow.com.

The Waiting Game

This blog is meant as a follow up to Steve Sherlock‘s article “License to Thrill!”  It is recommended, though not necessary, that you read the article before continuing as it provides context for the following discussion.

INTRODUCTION

When Pablow Inc. began as a company in the United States we had a vision of rapidly transforming the landscape of the insurance industry by eliminating complexities and inefficiencies that are so prevalent throughout the industry.  What we did not know is how many of those complexities and inefficiencies we would have to deal with first to try to accomplish our goals (e.g. licensing, legitimization, compliance etc.).  After a couple of years with headquarters in the United States and offices in Australia, we have come to the conclusion that working in the insurance industry can sometimes feel like a waiting game.

RULES OF THE GAME

  1. You may only participate in the game after receiving licensing in each US state for each type of insurance offered in that state, which will cost your company tens of thousands of dollars.
  2. When you want to begin the game and have everything arranged to start, be prepared to wait a significant amount of time before you may actually initiate the first turn.  The amount of time to wait depends on the players, their background, and a variety of unidentified variables, but be assured that this time can not be lessened.
  3. Once you’ve begun the game you may only advance with the most cautious of moves, as any one mistake can revert you to the starting point.  Your opponents and teammates must also play this way, which means that it will take a long amount of time to complete any one move, much less a series of moves.
  4. Once players begin the game it takes longer to develop relationships with other non-players who are cautious about the intentions of players.
  5. Verbal strategy is the quickest way to initiate execution of a plan, but beware that putting moves in writing is almost always required and will take an unexpectedly long amount of time regardless of the type of plan.
  6. The rules of the game may be changed at any time, and players are expected to react immediately or may face a loss of turn if they play outside of the new rules.

PLAYING THE GAME (Startup Companies)

Now that we’ve covered just a few of the most important rules to the waiting game, it’s important to know how to play the game.  For this you will have to rely on your experience alone due to the complexity of the insurance industry, and for those without previous experience be prepared to build it quickly or face yourself playing another game.

Although the waiting game is difficult to manage, particularly for new players, there is hope.  The first important game strategy is to find a sponsoring company whose key performance indicators are linked to your success, in other words they need you!

Once you’ve developed a relationship with a sponsor it’s critically important you continue to move your game piece toward the finish line with regular conference calls and tight timelines, because you want to get into the market as soon as possible.  Within the last year, I’ve experienced a project being killed off at the last minute after six months of preparation because someone decided we were a competitor to their organization; a fate that might’ve been avoided had I better communicated the benefits of our distributor relationship.  Instead of working with the company to distribute their product to a niche market, we entered a partnership with one of their competitors, which will help us ensure we serve a new market niche.  Based on my experience and knowledge of other entrepreneurial ventures, I can confidently say that by getting your product to market you’ve reached a major checkpoint in the waiting game.

The game can be won, but it will take time and will be incredibly difficult for even the most resilient players.  At Pablow, Inc. we’ve been through many situations working with insurance companies that have been psychologically uncomfortable, but as we persist we’ve realized that there’s a sense of thrill that comes with preparing our gameplay strategy in order to advance ourselves toward the finish line.

A NOTE TO THE GAME MAKERS (The Insurance Industry)

“An idea does not survive because it is better than the competition, but rather because the person who holds it has survived.” ~ Taleb
It’s important that you look at startup companies as partners, rather than as competition, when they present new ways to solve old problems.  If you find that you have similar goals and values, then it’s easiest for the players if you provide the rules of play, but otherwise let them decide on a gameplay strategy.  This is primarily because startups are worried about timeliness, especially with technology companies, and when larger companies intervene in the process it tends to delay technology and project completion.  As a rule, entrepreneurs should be given more freedom to solve problems, because they can often get it solved more quickly than the bureaucracy inherent at larger corporations.
Finally, I strongly suggest you consider working with startup companies in the future as your problems need solutions.  If insurance companies embrace entrepreneurial partnerships then they may divert their work from business as usual to an innovative solution that they would not otherwise have thought of or been able to take advantage of.  You never know how an innovative group of entrepreneurs might solve your most complex and persistent challenges.