It’s a new generation. It’s a new group of workers, parents, and community members who have never known life without technology. It’s Generation Y, and while many would say that this group of people offers unlimited assets and new skills in the workforce, others would argue that the habits and attitudes of the Millennial Generation are toxic to the productive work environment.
First, let’s get informed. Who are the Millennials? This generation is generally defined as those born between the late 1980s and the year 2000, so people about 18-35. The number of Generation Y workers is already growing, and by the year 2025, millennials will make up 75% of the workforce. Millennials have the highest amount of student debt, the lowest incomes, and the least extra money to spend of any recent generation. Half as many of these adults live in their own house or are married compared to Baby Boomers when they were the same age. Millennials are also the largest and most diverse generation, the most active on online social networks, and the least likely to buy homes. (For more statistics about Generation Y, see this White House report or this Goldman Sachs infographic.)
In Fort Collins, many companies are seeing the effects of a growing consumer market characterized by young people. This generation seems more concerned with sustainability and social consciousness efforts of companies, and is more willing to buy a product or service based on internet reviews. As Luanne Kadlub cited in a Coloradoan article, hiring millennials is also inspiring local companies to become more tech-savvy, fast-paced, and even open to hiring more diverse workers, such as those with tattoos or those with a wider range of college degrees.
Other companies complain that millennials lack the work ethic and commitment of past generations. The Human Resource Management Center says that many employers find millennials “self-absorbed and entitled”; indeed, many have blamed modern social media for Generation Y’s apparent love of proliferating their own image as opposed to concerning themselves with the needs of others. This can lead employees to lack commitment and loyalty to companies, and to focus more closely on chances to advance their career rather than on monetary gain or quality of work.
Whether employers like it or not, millennials are taking over the workplace, which is becoming a more modern, more digitalized forum for sharing goods and services. Both employers and job-seekers must adapt to the changing scene of employment today. Evan Burns said in an article for Inc. that the most important thing that companies can do to cater to millennial applicants is to hire based on culture and personality fit rather than experience or seniority; a worker’s shared vision for what the company is trying to achieve will result in employees who stay longer and are more dedicated to their company.
Are you a millennial who has experienced either positive feedback from employers or negative stereotyping based on your age? Are you an employer with experience hiring millennials? Let us know your thoughts in the comments!
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