A Case for Millennials – Part 2 – the millennial lifestyle

case for millennials

Millennials are the entitled generation! They expect everything handed to them. They still live with their parents because they won’t grow up! Any of these sound familiar? Search Millennials online and you are bound to find an article talking about one of these topics. But, does that really make an entire generation entitled? That’s painting with a rather broad brush there.

This living at home thing

Yes, living at home can be a drag. Trust me I know! However, millennials are in a different boat when it comes to both their finances and their relationship with their parents. Many (not all) millennials have quite the student loan debt that they need to get paid off. You may be thinking ‘that’s OK, they went to school to earn a degree to get a higher paying job, so that shouldn’t be a problem’. Unfortunately, this market is flooded with people with bachelors degrees. It is a requirement simply to get a job. So, it is really nothing special at this point. In addition, since the market is still not great, that degree may be get a you a job, but not a well paying one. Not one that can cover your loan payment, housing, car, gas, food, insurance, etc.

It’s not all bad

Many millennials have pretty good relationships with their parents. The arrangement is not typically that bad. You can save money while living at home so you can get out from under those student loans. In addition to that, it allows you some freedom with regards to your job. One can pursue a job that interests them. If a job goes sour, if they are living at home, and have enough savings, they are not bound to that job. It provides you more time to search for a job that will really benefit your career in the long term.

Millennials are so entitled!!

Some millennials are entitled, some generation x’ers are entitled, some baby boomers are entitled. But, not everyone from every generation is entitled! For example, I was a property manager for a section 42 senior property (55 and better). Many had a traveling voucher, which was a voucher from the government that pays 70% of their rent. The seniors would demand I replace their working dishwashers (I didn’t even have a dishwasher in my own apartment!) They would demand the heat be turned up to 73* in the community room (I didn’t have a community room in my complex). They would threaten to call the department of aging because I moved furniture around in the common area. (My complex didn’t have a common area!) All while paying something like $200 per month. (Which was obviously way less than my rent!) That is entitled, they are baby boomers!

You can’t get something for nothing

I really like this article in Forbes about managing millennials, you can read it here.

The main thing it drives home is that you can’t just assume everyone from every generation is the same, so you must manage them the same. Ms. Ryan really hits the nail on the head when she talks about the sense of entitlement coming from employers. If an employer wants stellar loyal employees, they aren’t going to get that for nothing. Good work deserves good pay and perks. If you want good workers, you don’t get that for minimum wage. This applies to employees from every generation. It is not entitled for millennials to want that as well if they provide the appropriate value to the company. If their current company is not willing to partake in this mutually beneficial relationship, said employee will simply take their time and talents elsewhere. Barring a signed non compete agreement, possibly your competition 🙂

 Millennials values are different

Millennials values are different from those of previous generations. That is not at all a bad thing, just different. We aren’t workaholics like our previous generations. This does not mean we are lazy, it just means we have a variety of different interests as well as work. According to Forbes 64% of millennials value making the world a better place. 74% value workplace flexibility. That is not all bad! When I was in property management I volunteered teaching english as a second language. I really enjoyed it! In addition, I also volunteered in other ways as well. I was not just my job title, I did other things that contributed to my community. Having a job that was willing to allow me this flexibility was very important.

Non-traditional

Millennials are a bit more non traditional than previous generations. We tend to crave that start up culture, even if it is not as secure, or as high paying :). Many like the idea of making a difference within an organization, and not just being a cog in the wheel. We are more driven to open our own businesses; even though the risks are higher than simply getting a permanent 9-5. Millennials strive to make the world a better place, and are less locked in our own world. Our values are changing the way industries do business. Just look what we are doing to the credit card industry according to Forbes.

We don’t settle

This generation doesn’t have too. We won’t necessarily waste our energy on a fight either. I saw this a lot in property management. The baby boomers would try to fight management to get this amenity or that amenity that they felt was owed to them. The millennials would just move at the end of their term to a better property. They found something better, why should they settle, if they can afford, and are approved for better?

Millennials are a different breed, but we are a large generation. If you want to stay in business, don’t ignore us or write us off as a generation! There are good ones and there are bad, but we are all different. The ones willing to work with us, get out time talents and business 🙂

 

 

 

 

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