By Mat Orrego, CEO of Cornerstone Information Systems
Cornerstone’s CEO, Mat Orrego, recently wrote a LinkedIn post on the reasons to consider Millennial-friendly travel policies. Mat posits that Millennials got a bad rap – but he finds they are inspired, tech-savvy, and creative employees.
When it comes to business travel policy for Millennials, it’s important to understand the economic environment Millennials grew up in. Mat discusses the effects The Great Recession had on Millennials and the way they have come to view jobs, homes, and money.
Mat writes, “They saw the devastating effects not only on their families, many of which lost their savings and some of which lost their homes but also on their own debt. Most of them left college with hefty loans and weren’t able to find employment after having done ‘all the right things.’ As a result, they are creative free thinkers with an entrepreneurial spirit and a penchant for finding great deals.”
In his LinkedIn post, Mat walks through a few specific and tactical travel policies that can make a big difference. With a short tenure at their companies and a high cost of replacement, companies would do well to build policies that help employees work most effectively while taking behavioral traits into account. A travel policy can have a very real impact on company loyalty.
As Mat says, “I can’t overstate the importance of giving this issue attention now. Anything companies can do to increase retention among millennials benefits the bottom line in the long term. Fortunately, creating a culture that engages millennials is almost certain to increase innovation and make for a happier staff in general, regardless of age.”
Check out his post here.
About Mat Orrego
As CEO of Cornerstone, Mat Orrego is passionate about helping clients solve the complex travel-technology issues of today’s operations and fulfillment processes. He believes in investing in relationships and helping his clients stay focused on managing and growing their businesses. After earning his degree in finance from Indiana University’s Kelley School of Business, Mat began his career in the financial services industry in 1985. Later, he joined Gant Travel Management where he spent four years working with front- and back-office operations. At Gant, he developed a core understanding of how technology can make a business more efficient and profitable. In 1992, Mat’s entrepreneurial spirit drove him to define success on his own terms by founding Cornerstone Information Systems. He is also an active investor in companies both in and outside the travel industry. Interest ranging from food manufacturing, real-estate development, professional sport teams, to working with other angle investors to help grow early stage companies. Mat also works with various non-profit, micro-lending organizations that benefit entrepreneurs in third-world countries.