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Home Business & Entrepreneurship

The characteristics of Generation Y (The Millennials)

29 July 2022
in Business & Entrepreneurship
0
Millennial colleagues working together

To begin with, there is already a difference in determining a generation. One starting point is a decade and the other system assumes 15 years. But a clear timeline cannot be drawn. There is a large difference of six years between the two methods, so it must be assumed that it is indicative in nature. I use the scientifically tested classification of the Dutch sociologist Henk Becker.

Born between

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Baby Boomers 1941 – 1955

Generation X 1956 – 1970

The Xennial 1971 – 1985 (also called the Pragmatic Generation)

Generation Y 1986 – 2000

Generation Z 2001 – 2015

Anglo-Saxon method in which the division is based on twenty years. That is Howe and Strauss's classification. The division into twenty years has not been completely followed.

Born between

Baby Boomers 1943 – 1960

Generation X: 1961 – 1981

Millennials 1982 – 2004

Homeland 2005 – 2025

The difference in period invites us to take a closer look at what a generation is. There is also talk of an age cohort. Demographically, a group of individuals of the same age who belong to a population at the same time. Children born and raised in a certain generation period are influenced by the spirit of the times, political system, parents, education and environment. Within this, if the opportunity is available, they can further acquire their knowledge, develop talents and express their needs. All these factors together broadly determine the generational characteristics.

These characteristics in society are not that great for Generation Y specifically. They are also referred to as the limitless generation, performance generation, lazy, next generation, screenagers, princes and princesses, etc. They are often accused of being self-centered, narcissistic, impatient, feeling entitled to everything, etc., but is that true? Political philosopher Gerard Drosterij of Slow Politics conducted a nice study in 2019 into the real characteristics of this generation Y.

Growing up

They have been fortunate to grow up in a prosperity economy. The principle of individualization stimulated by the baby boomers has been instilled in this generation Y from a young age. The upbringing took place in a very protected environment. That protection also has another side. One of the consequences of this parenting style is that setbacks can no longer be dealt with properly. The information age was also well underway and they were at the cradle of it. This prosperity also gave them the opportunity to focus on personal growth and development. This was somewhat curtailed by a lack of housing, which forced them to continue living with their parents for longer, which in turn also meant that adolescence could be said to have extended.

Study

People in their thirties have often studied longer. The twenty-somethings are still busy with their studies, which means that a job is postponed to the future. The advantage is that the level of knowledge is enormously increased. The disadvantage is that they become part of the operating society much later in life, which also pushes the maturity stage.

Stress

A big advantage is that they grew up with the technology. They can pick up all new technologies very easily. But society makes its own additions to this in the form of social media, accessibility and speed. These are the ingredients for stressful situations. It is not without reason that this generation Y suffers from the most burnouts and visits to psychologists are not unknown.

Future perspective

Their current world is rapidly changing with fewer certainties, fewer guarantees, fewer guarantees in the new pension system and in many other areas. They also see more of the shortcomings in business and government and think they can do something about them in the future. Contrary to what was expected, it turns out that millennials are actually optimistic and have more faith in the future. However, they are not interested in staying in the same job for life. They would rather change jobs after a few years or do something completely different. This relaxed approach can sometimes lead to misunderstanding. In addition, they are less career-conscious and are less or less focused on reaching the financial top. Their areas of interest span ecology, politics and networking. This generation can be used commercially for innovations, for example. Their creativity, flexibility and critical attitude make them perfect conversation partners. They also have an extensive network that can be deployed if necessary.

Setting

Due to the spirit of the times in which they grew up, they have ascribed qualities to themselves that other generations are unaware of. So if they enter the labor market, it can cause problems. It is therefore necessary that you as an employer take this into account. But what should you take into account?

Development opportunities

Money is not their first priority. Self-development is. They want to gain knowledge, push boundaries and further develop their talents. That appeals to them more than a promotion or a big salary.

Open communication and participation

Growing up in a household where this happened has taught them to deal with things differently than previous generations. They therefore have more difficulty with a hierarchical organizational structure.

Unfixed working hours

The 9 to 5 culture is not for them. They want to determine their own times and that can easily be in the evening or at the weekend. And oh yes, the work must above all be fun, a line of thought that is not always possible to achieve.

Inertia

Slowness of processes and decision-making is mainly found in public companies. They would find it difficult or impossible to maintain themselves there. They want to move on and then slowness is a major obstacle for them.

Bet

They set high standards for themselves and do the same for others. They can become extremely irritated when approaching people do not have that. Their upbringing brought with it the idea that if you put in the effort, boundaries can be pushed.

Build up

The millennial sees his colleague as an equal. Wants to develop business together with that colleague, despite all the ups and downs. Then there is no room for the millennial to worry about old habits.

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