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Millenials' Failure

Updated: Nov 30, 2022

The millennial generation appears recurrently analyzed in articles on the internet and, being quite realistic, has not owed its fame to the best of reasons. Anyone born between 1981 and 1996 is considered a Millennial, and anyone born after 1997 is part of a new generation, Generation Z. We will focus today on the Millennial generation because this is also the one that most often seeks our Psychology services (which may be indicative of a few factors).Let's think for a moment about why this division of generations - some use it should have, right?

"Generational cohorts give researchers a tool to analyze changing views over time. They can provide a way to understand how different formative experiences (such as world events and technological, economic, and social changes) interact with the life cycle and the aging process to shape people's views of the world.

Although younger and older adults may differ in their opinions at a given point in time, generational cohorts allow researchers to examine how older adults today, felt about a particular issue when they themselves were young, as well as to describe how the trajectory of opinions may differ across generations.", according to Jason Dorsey, an expert in millennial profiling and president of the American firm Center for Generational Kinetics, focused on researching the global habits of millennials and generation Z.The Millennial generation.

Being now more clear as to why different generations are given names, let's look at what is being said about this generation.

A quick search on the internet quickly brought me titles like "The depressed generation", "What happened to the millennials?", "Insecure and workaholic". There is talk of "laziness", "failure" and prolonged dependence on parents. There is talk of high expectations of these young people and that they apparently have not achieved what was expected of them. There is talk about being too focused on themselves; that they are more likely to be in debt and take longer, on average, to reach traditional milestones of adulthood, such as buying their own home or car.

A lot was expected of them. They are seen as the first ones who were given all the opportunities, were "spoiled", had life made easy for them somehow. And yet they didn't know how to take advantage of these potentialities. "The first generation to live with personal computers, smartphones, the Internet and the global flow of information from an early age had high expectations of themselves: with more years of education compared to their parents and of a more socially diverse composition, millennials dreamed of more prosperity and global impact." - mentions Jason Dorsey.Understanding behind the criticism.

The answer from many researchers is first and foremost that millennials are not exactly to blame: it is primarily the state of the economy. The millennial generation came of age in the early days of smartphones and connectivity. "Their parents told them they would be successful - they had ample access to education, compared to previous generations, and there was a great sense of connection and making an impact."

But this generation has encountered major recessions, such as the one that swept across the world after the 2008 financial crisis.

"In many ways, millennials were positioned to be very successful. And the reality is that they were faced with mass layoffs, inflation, wage stagnation, rising cost of living," Dorsey continues.They had a "slow start."

Millennials will carry the economic scars of this for the rest of their lives, translated into lower wage incomes, lower prosperity, and postponed life milestones, such as home purchase. "Millennials were more aware of global events because the flow of information and interconnectedness meant that an event that wasn't necessarily global, eventually became global. Events like world wars and national banking crises end up having a very large effect and spread around the world. This is very significant.

The implications of growing up in an "always-on" technological environment are only now becoming the focus of research. Recent studies have shown dramatic changes in the behaviors, attitudes and lifestyles of young people - both positive and troubling.Positive points - important civilizational learnings

They value professional recognition.

Millennials were encouraged from childhood to be ambitious and to look for new academic and professional opportunities.

Therefore, even though they are at the beginning of their careers, people from generation Y usually already have a baggage of experiences and knowledge acquired in courses, specializations, and other projects even before entering the labor market.

Another important point is that they are usually professionals with analytical vision, they want regular feedback and like it when they receive praise or even constructive criticism.

Recognition from leadership and teammates makes them feel valued. For this reason, they are willing to work for the company to take it to the highest levels of prosperity - as long as they identify with its values (a clear difference from previous generations). They are flexible and curious.

The millennial generation is marked by adaptability to new spaces and the constant search for more. They know how to recognize the best opportunities for themselves and do not hesitate to change jobs if they do not feel recognized, valued, or do not see a possibility of career advancement.

Being more immediate, these young people have a great sense of urgency and want to be the change. So don't try to win them over with long-term career plans: their big focus is on what their next challenge will be.

Millennials are thirsty to live new experiences, connect with social causes, care for the environment, and be true to their purpose and values. They interact very well with technology. They always want to learn more, especially when it comes to technology. They are passionate about change and want to express themselves in the world, using the online world to connect.They prioritize their personal life.

Although they are ambitious and focused on professional success, millennials are not willing to sacrifice their personal life for a successful career, because they believe it is possible to reconcile the two. After all, they dedicate themselves to their work to the utmost and want to reap the rewards in the form of studies, leisure, travel, and, most importantly, relationships. For this reason, compared to other age groups, they are more likely to accept a loss in salary or give up a promotion.

To attract and keep these young professionals, an employer needs to be flexible, respect work schedules and listen to their concerns. They are creative and willing to innovate, but they need to feel that their ideas and needs are appreciated.

Although they present several positive characteristics, millennials have a great challenge to keep the concentration on priority actions and to have the resilience to reap results in the medium and long term.

Due to the large volume of information received at all times, the desire for rapid success, and the constant feeling of "missing out" or "falling behind", the millennial generation is one of the most anxious yet.They are important to the job market. Millennials are forcing us to rethink our relationship with work and consumption.

After all, they are free thinkers, connected, great consumers, and questioners.Aren't these points very favorable, those of this generation?

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