MILLENNIALS WILLINGLY SHARE INFORMATIONIn the age of information, data breaches are constantly popping up in news headlines. But certain age groups continue to share personal data with companies around the world.

In the ever-evolving tech landscape, there are more ways, yet less time for businesses to engage the consumer. New survey information shows that there are significant differences in the way millennials (ages 18 to 34) think when it comes to online privacy, access to personal data, and how they share information with businesses online. Millennials show a distinct difference in online behavior and core values compared to others.1 They’re also more likely to share cell numbers, addresses, demographics, incomes, and social media profiles.2

MILLENNIALS IN THE AGE OF INFORMATIONAccording to a recent study by Gallup, millennials are the generation most likely to believe the personal information they give to businesses stays private. The study reports that 44-percent of millennials in the U.S. believe that their personal information is kept private by the companies with which they do business. Thirty-two-percent of Generation X respondents and 32-percent of baby boomers believe the same. (See Figure 1).3

TABLE 1: BELIEF THAT BUSINESSES ARE

KEEPING PERSONAL INFORMATION

PRIVATE, BY AGE GROUP

% All/Most of the time

% Little/None of the time

Millennials 44 26

Generation X 32 28

Baby boomers 32 32

Traditionalists 29 35

While millennials are more likely to share tech-related information such as social media profiles or cell phone numbers, baby boomers are more likely to share types of traditional information like a physical mailing address (40-percent). Credit scores are the most private information across the board, with only 17-percent of millennials and 8-percent of baby boomers willing to provide that information to businesses.4

WHAT MAKES MILLENNIALS SAY YES?The attention on Big Data proves that personal information can be profitable. While consumers in general may be a little stingier with what they’re willing to give up and whom they’re willing to give it to, they’re still providing it nonetheless. Privacy laws make it easier to say no, but there’s motivation that leads to millennials saying yes more frequently – and with less hesitation.

Americans, and especially millennials, have a reputation for accepting data sharing as a fact of life. Bloomberg reported nearly 88-percent of U.S. respondents to an Infosys survey said they felt okay giving their information to online retailers (see Table 2) and that most Americans would happily trade privacy for better service. The survey covered 5,000 consumers in the U.S., Germany, U.K., France, and Australia.

1 “Is online privacy over? Findings from the USC Annenberg Center for the Digital Future show Millennials embrace a new online reality.” USC Annenberg. June 10, 2015.

2 “Sixty Percent of Millennials Willing to Share Personal Info with Brands.” Mintel. March 7, 2014.

3 John Fleming. “Millennials Most Trusting on Safety of Personal Information.” Gallup, 2015.

4 “Sixty Percent of Millennials Willing to Share Personal Info with Brands.” Mintel. March 7, 2014.

Findings continue to show that millennials report more willingness to allow access to their personal data or web behavior and a greater interest in cooperating with Internet businesses – as long as they receive something in return.6 These tangible benefits include things such as seat upgrades and fraud protection.7

And in 2014, according to marketing research firm Mintel, nearly two-thirds of millennials said they were willing to tell companies about their personal preferences.8

“Millennials are predisposed to share their personal habits and contact information with marketers, but they do so only when the perceived benefits outweigh the risks,” says Fiona O’Donnel of Mintel. “Given that their generation accounts for nearly a quarter of the [U.S.] population, the implications for businesses are tremendous, because as millennials go, so goes the U.S. economy.”9

An EY survey shows that millennials are a “go” generation. They’re willing to go to travel to other countries to find more

family-friendly workplaces, jobs, and to move closer to family.10 They strive for simplicity, and anything that makes their lives easier is a win. With technology at their fingertips and the ease of offering up personal information, it’s no wonder that they provide personal data without the blink of an eye.

GRAEBEL TAKES PROTECTING CLIENT DATA SERIOUSLYAs the relocation management company for leading organizations around the world, Graebel Relocation has strict security and privacy policies that require employees sign a code of ethics and complete annual privacy and security training with compliance testing.

Graebel is also a licensee of TRUSTe EU Safe Harbor, a program developed to help consumers protect their online privacy. Safeguarding personal and confidential information is taken seriously companywide. Contact your Graebel Relocation representative for more information.

TABLE 2: GEOGRAPHIC DATA SHARING PREFERENCES5

While making an online purchase

When interacting with an online bank

When interacting with regular doctor’s office online

U.K. 79% 78% 69%

France 75% 62% 60%

Germany 57% 56% 50%

Australia 74% 75% 60%

U.S. 88% 83% 77%

5 “Engaging with Digital Consumers: They’re Ready, Are You?” InfoSys, 2013.6 “Is online privacy over? Findings from the USC Annenberg Center for the Digital

Future show Millennials embrace a new online reality.” USC Annenberg School for Communication and Journalism. April 22, 2013.

7 Diane Brady. “Privacy Paradox: Americans Happy to Share Personal Data with Big Business.” Bloomberg Business, June 25, 2013.

8 Julia Glum. “Data Privacy 2015: Millennials Trust Businesses to Keep Personal Information Safe.” International Business Times. May 11, 2015.

9 “Sixty Percent of Millennials Willing to Share Personal Info with Brands.” Mintel. March 7, 2014.

10 Nanette Fondas. “Millennials Say They’ll Relocate for Work-Life Flexibility.” Harvard Business Review. May 7, 2015.

Millennials willingly share personal information

The information contained in this document represents the current research of Graebel Companies, Inc. on the issues discussed as of the date of publication. This document is for informational purposes only and does not serve as an endorsement of products nor providers. Graebel cannot guarantee the accuracy of any information presented after the date of publication.

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