Millennials – a group the olds have tried to define and shun seemingly for years. If you are between the ages of 22-37 years old, then you are considered to be a Millennial. The Pew Research Center pegs the group to the years 1981-1996 based on a few key criteria: from their understanding of the “historical significance” of the terrorist attacks of September 11, 2001, to their role in sending Barack Obama to the White House in 2008, to their comfort and adaptability when it comes to technology. Another crucial data point is the economy. According to Michael Dimock, President of the Pew Research Center, most Millennials came of age and entered the workforce facing the height of an economic recession, which led to a decline in earnings and a necessary putting off of important landmarks. The long-term effects of this “slow start” for millennials will be a factor in American society for decades.
The Valuable Insight of a Millennial
Like every generation before them, Millennials carry a vast array of interest, hobbies, and views of the world that they work and play in. Many people choose to focus on Millennials through a professional lens, but there is much more to these Millennials than the time they spend on their work life. Millennials want to be thought of and seen as pioneers. The millennial lifestyle is about living in a truly free and open society in which the opportunities for success are above and beyond their wildest expectations. Millennials stand behind the idea that the workplace is not a prison, but a place where they can make a difference and be heard.
Millennials are constantly looking for ways to make things happen, whether it be business or something they’re passionate about. Because they’re a generation that was raised on computer, they identify the most with the tech savvy. They enjoy technology, social media, and pop culture so much that they want to be connected at all times. Whether others see it as a curse or a blessing, millennials are living in the digital era. This has allowed them access to everything, but requires them to constantly remain connected. Millennials embrace the constant change, they run toward it with open arms, and come to peace with adaptation. This is what classifies them as a millennial.
Experiences over Material Possessions
Millennials prefer to accumulate experiences and impressions rather than personal property. They’re minimizing personal possessions and moving towards acquiring experiences due to a variety of reasons: the economic recession has made it difficult to own property, Millennials approach the job market differently – the job market now encouraging people to be less embedded to one place so that they can more easily follow work. The economic recession is something which has had the potential to long-lasting economic effects on this generation, as it hit when they were beginning to make their way into the workforce and the housing market. Not being able to get their foot in the door the same way as their parents is something which affects the way they live and view the world they live in.
Millennials Living in the Digital Era
I’m sure everyone has heard by now that Millennials spend far too much time on social media. This is has resulted in people thinking that Millennials are lazy, they don’t appreciate life as it is happening, or that they have too much time on their hands. But social media did not exist until this generation, therefore any use of it would potentially seem like too much time. Millennials are characterized by being familiar with a huge variety of digital technologies and communication methods. They can attest to a more liberal upbringing. Social media may be seen as the destroyer of traditional face to face communication, however, it is a highly important tool in today’s world. Social media is a way to enhance our connectivity, it is an effortless way to connect with like-minded people. It has become easier for us to connect with business people, family and friends. Even, many top most companies directly approach candidates through social media networking sites like LinkedIn. Social media now affects the way whole organizations run and grow. It has become the primary means of getting the word out about your business. I’d say social media has more positive effects on the world we live in now rather than negative, if you utilize the right way.
Millennials Spending More than they Earn
Millennials are stereotyped as careless, lazy, and needing to work hard because people have the idea that they spend much more than they earn per month. However, Millennial lifestyles and spending habits do not reflect their financial realities, for many reasons. Millennials fell for the idea that each generation should have a higher living standard that the one before, instead, they are facing worse living standards, and have perhaps not adapted. Another explanation to this could be that they simply do not have the cash available to live, and so they must live outside their means in order to have a decent life.