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Special G20 Edition (PT.2): Additional Impact of Gen Y on the Future
Written by Buddy Hobart on September 23rd, 2009
The G 20 coming to Pittsburgh inspired our last entry when we discussed some economic impacts Gen Y will have globally over the next few years. Recently I’ve been giving many talks to business leaders about Gen Y and have been thinking about some of the other impacts Gen Y will have for decades to come.
In my talks, I challenge the audience to address their prejudices toward Gen Y. I TRULY believe that a great deal of misinformation is out there and that many media outlets exploit the stereotypes in order to create a story. It is far easier to get an audience/reading public fired up by ranting about something than by talking about positive things and challenging those stereotypes.
I recently came across a headline that told of how Gen Y is ill prepared for retirement and lack the discipline for saving. Of course I had to read the article. Buried deep in the article it explained who they were considering as Gen Y (16-25 year olds). I was really taken back because I always assumed that every 16 year old was ready for retirement and had long mastered the discipline of saving. I also believed that by the time someone was 25 they should have already built a very sizeable nest egg. I know that by the time I was 25 I had an enormous savings account built up.
Of course I am being factious. What 16 year old has already, at least willingly, developed the habit of saving? Oh, by the way, when I was 25 I think I had about $1,200 saved.
Why don’t we see more articles about how Gen Y is excelling? Recently I read an article that debunked the myth that because of so much texting Gen Y has lost their writing skills. Andrea Lundsford, a professor at Stanford University conducted a study of writing skills and believes we are on the cusp of a writing revolution, stating “I think we’re in the midst of a literacy revolution the likes of which we haven’t seen since Greek civilization.” Lundsford argues, based on her research,that Gen Y writes far more than any generation before, using the example of how multiple tweets can quickly add up.
Why don’t we hear more about how Gen Y is taking control of their careers and self development? I do not have to search hard to find an article that says Gen Y feels entitled and is not willing to work for anything. If Gen Y is so entitled, why are there successful social networks like Brazen Careerist? Through Brazen Careerist, members of Gen Y are taking control of their careers, networking professionally, and developing extremely important skills. Taking accountability and control over one’s career is the opposite of entitlement. It shows a willingness to work for and EARN one’s successes. Ryan Paugh, community manager of Brazen Careerist offers the following explanation of how Gen Y is taking initiative through the site:
“Young professionals are choosing to manage their careers on Brazen Careerist because it’s a proactive way to level the playing field in a job market that punishes them for being less experienced.
On Brazen Careerist you’ll find active members of Generation Y sharing ideas and building a network for future success. And they’re doing it the way it’s supposed to happen – through conversations. Generation Y professionals are increasingly outgoing and proactive. In fact, on LinkedIn (where the average age is around 40) professionals are more passive by comparison.”
As the G 20 approaches, I am struck by how much GOOD Gen Y is doing and will do for decades to come. Unlike some others who believe the sky is falling because of “these kids” I am comforted by the thought Gen Y will be the leaders in my retirement. I think my future is in good hands.
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