How to employ, sell to those mysterious Millennials

As baby boomers retire, our industry is planning its future. Many are scratching their heads about this demographic group we call the Millennials. I want to give you a quick snapshot from my perspective of who these Millennials are and some of the characteristics you may watch out for. Millennials, children of the baby boomers, are also known as Generation Y or Generation 9/11, as a Newsweek article branded them in 2001. They are more civic minded with a strong sense of both local and global community. Jean Twenge, the author of “Generation Me,” considers Millennials and younger members of Generation X to be what she calls Generation Me. She attributes Millennials with traits of confidence and tolerance, but also identifies a sense of entitlement and narcissism based on personality surveys that show increasing narcissism among Millennials compared with preceding generations. The liberal-leaning think tank, Pew Research Center, issued a report in March about how Millennials in adulthood are detached from institutions, have low social trust and are networked with friends digitally.

The generation also has been branded as Trophy Kids, because they frequently were rewarded simply for participating in sports or other activities, rather than being rewarded for winning or excelling at them. Some employers are concerned that Millennials’ expectations for the workplace are too high. Studies predict Millennials will switch jobs frequently and hold more jobs than GenXers because of their great expectations. Educational sociologists describe Millennials’ approach to social change as pragmatic idealism with a deep desire to make the world a better place.