What is Currently Trending with Gen Y?

(www.tumblr.com)

Tumblr is a microblogging site, also known as a tumblelog, similar to twitter that allows for users to update friends, family, and the general internet at large with their thoughts, actions, and interests. Whereas twitter allows for only 140 characters of text, Tumblr will let you post anything and everything from music, pictures, links, and animations. While the site has been around since 2007, the popularity among Gen Y has shot through the roof in the last two years with nearly 50 millions blogs, many of which are responsible for countless internet memes (an idea/style that spreads across a culture, typically via internet) including April’s phenomenon of Texts From Hillary which demonstrates Gen Y’s humerous takes on political and celebrity figures.

 For a quick video explaining Tumblr, click here.

Defining Moments of a Generation: Gen X and the Challenger Disaster

Defining Moments of a Gen X: Challenger Disaster – January 28, 1986

Picture of the 7 Member Challenger Crew that took off on January 28, 1986 (Photo courtesy of NASA/Public Domain)

Each generation has many moments that define their epoch and shape their cultural understanding of the world. Traditionalists lived through the Great Depression and  Pearl Harbor,  Baby Boomers witnessed the assassination of JFK and the advancement of civil rights,  and Gen Y experienced September 11 and the advent of the Digital/Information Age. For Generation X, which has only 46 million people and is often times overlooked because it is nearly half the size of the Boomer or Gen Y generations, a defining moment is The Challenger Shuttle Disaster in 1986.

For weeks in advance, Gen X students across the country were looking forward to the Challenger launch, as it would mark the first time a teacher, Christa McAuliffe from Concord, NH, would be venturing into space under NASA’s Teacher in Space program. On the morning of January 28, 1986, Gen Xers eagerly tuned in to watch the launch on TV to witness McAuliffe and her 6 astronaut escorts lift off into space. That morning had unusually cold temperatures for Florida, but despite that, the launch appeared to go well until 73 seconds after take-off, disaster stuck. Students and teachers across the country watched helpless as the Challenger exploded and crashed into the ocean, killing all 7 passengers inside.  It was later discovered the O-ring on the SRB joint was so hard due to the cold temperature that morning that it was unable to close in time and the alternate O-ring needed maintenance, which made the shuttle unable to withstand the pressure of taking off.

That evening, instead of giving the State of the Union Address, President Ronald Reagan addressed the Nation regarding the Challenger Disaster, saying:

“…I want to say something to the schoolchildren of America who were watching the live coverage of the shuttle’s takeoff. I know it is hard to understand, but sometimes painful things like this happen. It’s all part of the process of exploration and discovery. It’s all part of taking a chance and expanding man’s horizons. The future doesn’t belong to the fainthearted; it belongs to the brave…The crew of the space shuttle Challenger honored us by the manner in which they lived their lives. We will never forget them, nor the last time we saw them, this morning, as they prepared for the journey and waved goodbye and ‘slipped the surly bonds of earth’ to ‘touch the face of God.’”

The Challanger Shuttle exploded 73 seconds after take off on January 28, 1986 over Cape Canaveral, Florida (Photo courtesy of wikipedia, CC 2.0)

The disaster came at a time of relative peace and prosperity both politically and economically in the United States. The Cold War was in its final stages, and the prestige of the United States’ Space Program was a source of national pride. When the Challenger crashed, the young Generation X witnessed for the first time the devastating infallibility of the US Space Program, which was the epitome of US prestige.  Also, the young Gen Xers felt the collective sorrow at the loss of the Challenger crew, especially because one of them was a regular civilian schoolteacher, mother and wife, one of their own. The event was a reminder that to be a leader is to pioneer great change and that whenever the status quo is challenged, great risks are involved.

The cultural impact of this event can be seen in some of the attributes of this generation. These youths internalized the lesson of the Challenger destroyer by becoming fiercely independent, self-sufficient, and skeptical. Never again would they would believe that anything was infallible. They would take their lives into their own hands as pioneers of their own fates, and never let institutions, ideals, or other people steer them to disaster. It is a mentality that makes Generation X unique and strong .

Gen Y as a Global Citizen

Gap years, while common in some parts of the rest world, are becoming the norm for Gen Y’ers living in the US too. When they travel, Gen Y’s are seeking authentic and inspiring experiences that connect them with local cultures and people instead of the past tourism “drive by” style that may have offered more destinations, but no true cultural connections.

Gen Y’s spending behavior has indicated a growing trend for more frequent travel than previous generations. This has spurred the growth and evolution of the youth tourism market.  These travel experiences and broad exposure to foreign countries and cultures are assets that can be utilized when Gen Y employees are working in a company that could benefit from employees with more multicultural perspectives.

Gen Yers’ interest in positive social habits is thus encompassed in young travelers’ attempt to develop their individuality by seeking travel experiences that give back to the local communities that are being visited, such as volunteer work and community projects in Africa and India. Because of their “do-it-yourself” attitude and the type of trips they take – backpacking, au pair, volunteer abroad, gap years, they usually spend more time in foreign destinations than previous generations did at a similar age. The desire to experience something “real” and “authentic” on their vacation, away from the office, exemplifies the belief that those experiences give them capital in the sense that they will be enriched on a personal level. Gen Y’s interest in adventure and community service thus provides a marketing niche that is currently booming as “off the beaten path” trips are highly desired by this young generation.

Comparative to other generations, generation Y has experienced a higher level of education as well as more exposure to a range of diverse cultures than older generations did at a similar age. As a result, Gen Yers that are both currently in and just entering the workplace are broad-minded and have been exposed to diverse cultures and experiences.  This behavior and experience change provide Gen Y with a more global and multicultural perspective that when tapped into by employers, can be of great benefit to the company.

How to Make Trade Shows Attractive for Business People of All Generations

Although it may seem that under-40 business types would be disinterested in “old school” trade shows, recent research shows that Gen Y is relatively keen on meet-and-greets but would like them to be done somewhat differently. What Gen Y looks for in a trade show is not necessarily simply making business connections one-on-one, but rather to gather good ideas they can apply to their jobs, have direct access to experts, and “entertainment and excitement,” within a group environment. A study by CEIR shows that 73% of Gen Y creates a “must-see list of exhibitors before attending” an event so that it is more important than ever to give Gen Y conference goers plenty of information ahead of time, before the exposition.

Here are some tips for trade show organizers that can help increase the appeal to all generations.

1)   Pre-show webinars are an easy and cost-effective way to get to know exhibitors.

2)   Exhibitors should reach out to prospects long before the show as the number one reason attendees go to trade shows is because of exhibitor invites. Organizers should provide guidance and how to best get attendees’ attention through compelling emails and social media.

3)   Education is key. Sexier topics may read better in the conference brochure, but the nuts-and-bolts education sessions are what your trade show attendees really need. Provide technical discussions and on-site training sessions that attendees can put to work at work.

4)   Keep traffic moving by mixing up the show floor. Make good use of your floor space and put action-oriented games and contests in areas where traffic flow may be slow to avoid wasting space.

 

Keeping these tips in mind and making trade shows more of a group environment will attract young professionals of Gen Y who are certainly interested in career advancement through networking and generating new businesses.

 

Migration of the 21st Century

“After 60 years, many commentators have announced that the American Dream is making its next great shift — this time from the suburbs to the urban core of our cities.” – Nathan Norris

The reason for this newly emerging shift to renting and city living, lies in the preferences of the largest generation since the Baby Boomers, Generation Y. Like those before them, Gen Y finds themselves attracted to what they didn’t have growing up.

 

Adventure

Gen Y grew up in a safe environment, living in suburban areas with lower crime rates than cities. More so than other generations, Gen Y was sheltered and mostly grew up with overprotective parents who introduced scheduled play dates and activities. It should come as no surprise then, that Gen Y now celebrates dangerous and exciting activities like skydiving or rock climbing. Meanwhile, cultural changes such as television shifting to glorifying urban lifestyles in the 1990s have pushed Gen Y to be more adventurous and less fearful of cities.

 

Connection

Another outcome of their protected childhoods, and isolated environment that is Suburbia, is Gen Y’s desire to be more connected than other generations. Because most of them grew up disconnected form each other, they have embrace social media fully and seek it in order to be in constant contact with their peers. Hence, Gen Y prefers living in places where they can be around others and where they can reach them easily.

 

Convenience

Generation Y has a low tolerance for wasting time, especially on things associated with the suburban life such as yard work or long commutes. Rather, they enjoy the convenience of living close to their favorite coffee shop and their work place. In essence, Gen Y prefers communities in which you can live, shop, work, and play right outside of the front door.

 

Car Independence

Unlike previous generations, Gen Y has shown a drastic disinterest in cars. While only decades ago, the car represented freedom, Gen Y now feels that cars can be in fact, inconvenient when it takes 20 minutes to get to the grocery store due to traffic. Gen Y wants freedom without obstacles or anchors, so when it comes to where to live and how to live there, Gen Y also show a greater desire to rent a car rather than to own one.

Gen Y’s Competitive Advantage

As Generation Y is entering the work force, they often feel somewhat handicapped by their lack of professional experience and wish they had a more competitive resume. However, as the job market is changing to attract younger workers, Gen Yers are taking better advantage of many new opportunities that older professionals fail to tap into. Here are some of the areas where Gen Y rules in the job market:

Networking Online and Offline

Social networking is intuitive to Gen Y as they enjoy connecting with others at all times. Thus, when looking for a job or information, they have an automatic network they can consult.

Blogging

Blogging about a specific industry sector is a great way to get the attention of professionals who may contact you if they are interested in what you have to say. Gen Y has taken great advantage of this feature and more and more bloggers pop up on the internet every day, sharing their interests and thoughts – it seems that doing so and in such creating conversation, comes much more easily to Gen Y.

Seeking Advice

It is a lot easier for young professionals to ask questions, as they are not expected to have all the answers from the get go. This is especially true if you are working on a specific project that you need advice on. Gen Y employees seek out mentors in older co-workers who enjoy sharing their knowledge and years of experience. Successful people are most likely interested in mentoring people that remind them of their younger selves, especially if those Gen Yers have good ideas for creating new opportunities.

Salary Expectations

During tough economic times, Gen Yers are more likely to settle for a job with a lower salary than older professionals. This is of course due to their inexperience and maybe inability to get a high salary from the start. However, Gen Yers do not shy away from asking for raises sooner than older co-workers. Just because they are younger, does not mean they don’t have financial burdens to pay off (i.e. student loans).

Youthful Look

Having a diverse age range at your company is important to keep a balance and to ensure that fresh and new ideas are incorporated into your business. Gen Y can be a supplier of such ideas and attitudes. However, they can also represent your company in another way – by their appearance. This may seem ambiguous, but having an enthusiastic staff that has a youthful look to them is as important as good customer service, as visual first impressions stick with you customers just as long as any other interaction you may have with them.

 

Gen Y as Managers – A Balancing Act

As the oldest members of Gen Y are now five plus years into their careers, many are finding themselves with enough seniority and experience to begin assuming management positions. These promotions are due to a variety of factors including:

  • Baby Boomers (48 and above) are starting to retire and open up management positions that need to be filled.
  • Gen X is a small generation; their low number mean fewer qualified candidates to fill leadership positions when Baby Boomers retire.
  • Technology-based businesses find Gen Yers have equivalent skills and relevant knowledge to assume leadership roles.

Gen Yers have been preparing for their careers since high school and are eager to enter the workforce and being to gain experience and to progress in their careers. Thus, it is important that Gen Y employees not only gain the opportunities to step into management positions, but also to succeed once they are in them.  Once they finally gain a management position, Gen Y managers can be faced with the challenge of being a young manager that has to both manage employees from their same generation and also people who are much older than them.

 

Here are some tips for Gen Y managers who are managing a multigenerational workforce:

  • It is OK to take an interest in your employee’s personal lives, but avoid any talk of drinking, partying, relationships, or money issues – these are not topics to be discussed with a subordinate.
  • Do not expect respect – earn it. Demonstrate why you deserve to be in a management position.
  • Use your management power to do good – be an advocate for the cultural values of your generation and help create a positive work environment.
  • Be a team player – helping your team to succeed will help you to succeed.
  • Tone down your ego. Climbing the success ladder quicker than people your age or older can make you forget how much you still have to learn.

Following these quick tips will make any Gen Y manager stand out as someone who deserves to be a leader. Treating your subordinates with respect and supporting them in projects will earn you their respect in return.

Article Spotlight: 6 Gen Y Rules for Older Workers

We previously posted Tom Searcy’s article from Inc. Magazine, “8 Old-School Rules for Gen Y,” which shines light on what Gen Y can learn from more senior colleagues. In “6 Gen Y Rules for Older Workers,” Searcy explores what senior execs can learn from their youngest employees. As Gen Y’s professional expectations differ greatly from those of older generations, managers may find that discussions at the workplace about different generations’ approaches to life can get pretty heated. As Searcy explains in his article, some of the things that Gen Y would like older co-workers to understand about them include:

  •  Gen Y wants to understand motivation, context, and the bigger picture for everything they do.
  • Gen Y needs clarification, always.
  • Gen Y feels technology is absolutely necessary and wants older generations to stop being scared of it.
  • Gen Y communicates frequently and wants older colleagues to constantly be in touch.
  • Furthermore, Gen Y expects older generations to use all available communication tools.
  • Gen Y needs rules that make sense and motivate them.

To read Tom Searcy’s article in its entirety, click here.

Gen Y : Indebted and Unemployed

Officials at the Consumer Financial Protection Bureau recently found that there is $1 trillion in outstanding student loan debt in the U.S. Not surprisingly, these debts fall on the shoulders of graduated Gen Yers who have enjoyed a good education and are now seeking jobs to pay off their student loans.

Despite Gen Y’s eternal optimism, employment statistics indicate that young Americans have been especially affected by the recession; the unemployment rate for 16- to 24-year-olds is 17.6 %. This is the lowest recorded percentage of working young Americans since the government began compiling such data at the end of World War II in 1948.

Considering the low employment rate among Gen Y, it is easy to see that outstanding student loan debts will not be paid off any time soon. Unfortunately, excessive debt can be an obstacle for a recovering economy and officials say that one of the most sobering findings has been that in spite of the drastic debt, student borrowing continues to steadily increase. Students borrowed $117 billion in federal loans last year—this current trend could cause severe consequences not just for a struggling generation, but for the entire economy.

This strong level of debt for Gen Y employees impacts them in several ways.

  1. They may push for higher salaries than originally offered.
  2. They may push more quickly for raises than previous generations.
  3. They may job hop more readily based upon the ability to get a higher salary at another company even if it means leaving a job that they currently like.

When recruiting and managing Gen Y employees, it is important to keep all of these factors in mind. While some people may perceive Gen Y as just being demanding when they ask for more money, or move jobs more quickly, there is a strong economic reason for them doing so. While giving a raise when it is asked for is not required, being sensitive to the economic challenges of Gen Y and their debt is an important consideration for employers as they seek to attract and retain Gen Y employees.

 

Generation Startup

Gen Y is a generation of independent young adults where no one stands out by being ordinary. Perhaps it is due in part to their sense of self-empowerment and fearlessness, for an entrepreneurial trend is being spearheaded by the young generation that is causing startup companies to pop up constantly.  According to a report by research partnership Affluence Collaborative, 40% of Gen Yers in America envision starting their own companies and businesses, while 20% already have.

Donna Fenn, journalist and author of “Upstarts!” explains that Gen Y is inclined toward entrepreneurship in part because of the recent decline in corporate jobs due to the downsizing movement of the past few years. If this was not enough to push this ambitious generation, Gen Yers have also witnessed countless corporate scandals following the meltdown of the economy. This resulted in a loss of faith in big institutions like corporate companies or government. “They understand that if they want security and they want to be assured of having a job, now more than ever, it makes sense to create your own job,” Fenn said.

With the startup movement, Gen Y has been creating jobs for themselves as well as others. Furthermore, compared to other generations, Gen Y have demonstrated markedly different entrepreneurial behavior in the following areas:

  • 36% of Gen Y are likely to hire new employees (versus 25% of Gen X and 20% of Baby Boomers)
  • 67% of Gen Y are willing to take financial risks (versus 52% of Gen X and 47% of Baby Boomers)
  • 57% of Gen Y are less stressed about the economic crisis (versus 72% of Gen X and 71% of Baby Boomers)