Tapping the millennial spirit

Contributed photo
Contributed photo

ACCORDING to a 2018 Philippine Statistics Authority data, about 26.9 percent of the total number of employed Filipinos were those ages 25 to 34 years old, the age range that fits into the definition of a millennial.

In a recent survey, many Filipinos viewed millennials as "confident" "driven," "self-centered," and "ambitious."

For a Philip Vincent Tolentino, a 41-year-old entrepreneur whose business revolves around providing an array of financial services to clients, these are values that could propel them to limitless opportunities.

“More often, in some companies their values are often misunderstood especially if the management is of the different generation,” says Philip.

These results in high employment turn-over with young people resigning from their jobs.

However, Philip believes these are traits and characteristics of a millennial which are great for a business. Proof of which, millennials constitute 80 to 85 percent of his company’s manpower.

“One thing I like about millennials is their creativity. They do things their own way and yet they get the same results,” Philip says.

He says people working for him can use their creativity and have the freedom of time. For example, his young agents are adept at using social media to creatively market their services.

Millennials are also marked by a strong entrepreneurial streak which Philip taps. “The profession gives you the opportunity to grow your own business given the system that the company provides,” he says.

Philip, with his wife Claire, put up Alpha Gold Insurance Agency where they sell financial products such as insurance, VUL (Variable Universal Life), and investment funds. Philip says he built the business to help people not just to earn but also grow with the company.

He cites one of his agents who worked as a bank teller for five years and is earning more than his previous work now.

He says the maximum earning potentials in the business is big. “You are paid on two things; one is direct commissions on personal sales and sales bonus on your team sales. There is no limit as long as you work hard for it and your team also performs well."

Millenials are attracted of his offer because there are travel incentives and an opportunity to have gadgets which the company usually gives as raffle prizes. Sometimes the insurance company raffles off cars and condominium units.

“Some of our millennial agents were able to go to places such as Japan, United States, and Europe.”

He reminds his young employees that more than just earning and getting to travel and have new budgets, their profession provides an impact to their clients and their families.

“You teach your clients, sound financial values, it gives your clients and their families the dignity in crucial times such as critical illness, an accident or disability, or sudden death. We help prevent a financial disaster for our clients and our families.”

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