Welcome! Today we’re taking a look at a (big) segment of our population, so-called Millennials.
Lately, there seems to be a lot of fear and trepidation that Millennials are going to ruin the world with their sense of entitlement, laziness, and disinterest in anything other than working a few hours a day from the comfort of a bean bag. Au contraire! At Buoy, we think that this huge group of people is getting a bad rap.
There are about 83 million people in the U.S. who fall into the Millennial category, and by 2020 they will account for 50% of the global work force. We know that this group has been straddled with crippling student loan debt, possibly subject to some iffy parenting, and plagued by a great recession. We also know this group is tremendously innovative, thoughtful, and socially responsible.
At this point I should probably disclose that I myself am a Millennial (gasp!). I graduated college with over $100k in student loans. After graduation, I had good managers who enabled me to feel responsible for my work at a company that felt like family. I was able to carve out some success because of it. Today, I am (almost) student loan free and grateful to those managers.
That’s the key to remember for Millennials: workplaces for them are not just places where they collect a paycheck and health insurance. They expect their companies to have vibrant cultures, provide a sense of community, and allow them opportunities to make an impact. Those are all positive attributes. They are not things we should be afraid of, but rather we should embrace. It’s simply a matter of coaxing the best out of them. We have some good ideas on how to do so at Buoy.
So, will your company be a metaphorical old man telling Millennials to get off their lawn, or will you innovate and improve along with the changing demographic?