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.

That brings me to the current “teachable moment”.  I think the current economic/employment situation is a perfect opportunity to help mentor and lead Gen Y.  While I do not believe Gen Y expects everything for nothing, the reality is that Gen Y grew up in one of the most prosperous times in world history.  Gen Y did become used to having certain things (and taking it for granted) that previous generations would have considered a MAJOR luxury.  This expectation, I believe, can be misconstrued as entitlement.

I think about some conversations my Dad had with me as a kid.  He thought we were really LAZY for wanting to put a second (rotary dial, I might add) phone on our THIRD floor.  He could remember, and lived quite nicely thank you very much, when the phone wasn’t even in the house.  How could his kids have become so soft!?  Or there was the conversation we had about the possibility of having a stereo in our room, or a television.  To him those were extreme luxuries, since he was a child of the depression.  We were in no way ENTITLED to any of that.  However, he did consent that if we EARNED it, we could buy it.  (we did get the stereo and TV, but we never did get the extra phone!!)  He taught us some valuable lessons with his wise guidance.

The same holds true today.  Even the most prejudiced boomer against Gen Y I have ever met will at least admit that Gen Y does learn new things and is an aware group.  You can believe Gen Y is AWARE of the current economic/employment challenges.  As a leader, this is a great opportunity to teach Gen Y some business/economic realities.  Leaders can show Gen Y how tough choices are made and that certain things previous generations of employees took for granted will no longer be provided (think 401k matches, travel budgets, 100% medical, etc).  Leaders should not just announce changes, but take the time to follow a reasonable change management process.  Explanation is required AND it helps educate the employees.

Taking the time to communicate and to lead will help Gen Y realize that some things they might have taken for granted are REALLY luxuries.  They are no more ENTITLED to these things than I was to have a stereo in my bedroom.  Gen Y will get it…..they will understand, just as we did.  EVERYTHING is earned and no one is ENTITLED to even the basics, let alone luxuries.  Now is the time for leaders to apply the lessons of their youth (which we learned from our parents) and use this opportunity to mentor Gen Y.