Archive for the ‘Generation Y’ Category
Generation Y Is Annoying to Manage, But That's a Good Thing
Published by Ryan Healy on June 2nd, 2009 in Generation Y, Millennials | 15 CommentsGeneration Y is annoying to manage. We're annoying to manage because, get this; we actually want people to manage us! Gen Y grew up very close with our parents, and we got a ton of feedback from teachers, coaches etc. Because of this, managers are encountering entry-level workers who are basically begging and pleading to be managed closely.
The problem is that over the last 20 or 30 years, management has become a lost art. People are promoted after a few years on the job. They get more money, more responsibility, more work, and oh yeah, they get to manage three other people too.
Finding time to care about three other peoples career when you're so intent on advancing your own career is not an easy task. So the trend has been to let people figure it out on their own.
This worked great for Gen X, a group of people who take serious pride in independently getting the job done. But not so much for Gen Y. We would much rather work with our managers, our peers and our team to get the job done, and have fun doing it.
Because of this, Gen Y is creating an incredible shift in what management means, and the managers who accept and adapt to this shift are the ones who will be leading successful organizations in the coming years.
So, if you're managing Gen Y you can do one of two things. You can say they are annoying to manage and whine and complain about how needy they are. Or, you can embrace this as a gift. The next time a Gen Y employee comes into your office with a question on how to do something correctly, put everything aside for ten minutes and push him in the right direction.
The ten minutes of your time it takes to give detailed feedback or correct a mistake today, can save you days or weeks of fixing the mistake in the long run.
Why Isn't Mainstream Gen Y Buying Into The New Web?
Published by Ryan Healy on April 23rd, 2009 in Generation Y, Social Media | 42 CommentsGeneration Y practically invented social media. Friendster was the original, but when Facebook came on the college scene in 2004, everything changed. College students took their offline friends and aggregated them in one place online. Guys browsed through their college networks to find cute girls they had seen at the library, and everyone posted photos from last night's drunken party or Saturday afternoon's football game.
Facebook was like being at a college frat party with all the people from your school, but online.
Well, things changed. Facebook opened up, Second Life created a virtual world for everyone to live in, LinkedIn connected all the older white-collar professionals, Twitter jumped on the scene and let all the narcissists scream, "Look at me," and Facebook followed the trend with their new redesign.
But Generation Y is not inventing the new web. Older people are. The new web is all about hyper-connectivity, real-time updates, and living your life online. And mainstream twenty-somethings aren't buying into it.
Twitter
According to Comscore, the majority of Twitter users worldwide are 35 or older. Young adults 18-24 only make up 10.6% of the Twitter population in the US and are less likely than the average user to tweet. 45-54 year olds are actually 36 percent more likely than average to visit Twitter.
The traditional social media early adopters are 18 -24 and Twitter is the new social media darling. Why isn't Gen Y biting?
LinkedIn
Gen Y is not on LinkedIn. The average age of a LinkedIn user is 40-years old. LinkedIn profiles do two things. They let you show the world all the great things you've accomplished (most twenty-somethings haven't accomplished much yet) and they let you connect with other business people in your industry (Gen Y has no idea what industry they're in and don't have many connections yet).
Want more proof that LinkedIn doesn't get Gen Y? They just did a major marketing and PR push to recent grads offering their premium service for 3 months free and pitching the site as a way to get jobs in a down economy. So far, this isn't working, and I don't expect it to anytime soon.
Facebook
Facebook is growing at an unparalleled speed, and the new adopters are older folks. The 35 to 54 Year old demographic grew at a rate of 276% over the last six months and the 55+ demographic grew more than 194% over the same time period, while 18-24 year olds only grew 20%. These same older adopters are joining sites like Twitter where it's all about real-time updates and hyper-connectivity.
When Facebook made a design change to simulate Twitter, there was a major user revolt, of course, many of the angriest people were long time Facebook users (i.e. Gen Y). Sure, change is difficult and oftentimes people buy in after some getting used to. But this one just seems different.
Want More?
A recent Accenture survey concluded that Baby boomers, defined in Accenture's survey as those 45 years old or older, are embracing popular consumer technology applications nearly 20 times faster than younger generations. Compared to a year ago, Gen Y consumers between the ages of 18 and 24, are decelerating their use of consumer electronics and related services including social networking, blogging, listening to podcasts and posting video on the Internet. Yet, there was a 67 percent increase among baby boomers reading blogs or listening to podcasts..
So why isn't Gen Y buying in to the new web?
Are we simply not a group of early adopters? Would we rather be the followers waiting to see what our older, more experienced peers latch on to before we jump in?
Or, does Gen Y have an innate sense that too much connectivity and too much time online is unproductive and does nothing more than allow you to run in circles and chase something that you can never actually attain.
Or maybe, Gen Y is still all about being cool, and Silicon Valley just isn't that cool. Facebook isn't even pretending to be cool anymore.
Chris Cox, Facebook's Director of Products says, "The people who started the company weren't cool. I'm not cool, if you look at the people who work here, it's much more nerdy and curious than cool….Cool only lasts for so long, but being useful is something that applies to everyone."
He's probably right. Useful does apply to everyone, but hip, early adopters are always chasing cool. They're not chasing useful.
Personally, I think its a combination of the three and when the right tool comes along, Gen Y will take the lead. But whatever the reason is, the numbers show that mainstream Gen Y is not latching on to the newest social media tools, and for a group of people who are supposed to be the trend setters, this is a strange phenomenon.
Personal Branding is Not a Fad, and Why You Need to Read This Book
Published by Ryan Healy on April 7th, 2009 in Books, Career Development, Generation Y, Marketing | 4 CommentsTom Peters first wrote about The Brand Called You in a 1997 issue of Fast Company. Slowly but surely, in the 12 years since, Personal Branding has gone mainstream. Nearly everyone in the social media/web 2.0 world is aware that what we do, both online and off, defines our personal brands. College students get it too. At a University of Wisconsin panel last week, we polled the audience and more than 75% people had heard of personal branding.
Despite this, many college students and young professionals aren't exactly sure how to effectively build a brand. Lucky for them, my buddy Dan Schawbel's new book, "Me 2.0: Build a Powerful Brand To Achieve Career Success" will teach you exactly how to do it. Anyone who wants to give themselves the best chance to succeed in this new, hyper-connected world, needs to check it out.
If you're still not convinced, here are a couple reasons why I know that personal branding is not a fad, and why you should buy Dan's book, or at least read his blog![]()
Everyone's an entrepreneur
The average stay at a job for Generation Y is about 18 months. Job hopping is the norm these days, and even the recession isn't going to change this fact. So, if you're changing jobs every couple of years, you need to think of yourself like an entrepreneur. Reid Hoffman, the CEO of Linkedin says, "Every individual is now an entrepreneur, whether they recognize it or not. Because it used to be that you got a job at one company and you were there 20, 30, 40, years. That's been dead for decades. That's even dying in Japan. The salary man no longer even exists in Japan."
Entrepreneurs start companies, and the smart ones spend a lot of time branding those companies and branding themselves. If every individual is an entrepreneur then it makes sense that you start managing your personal brand too.
Google is Branding You Right Now
It's true. You have a personal brand and someone can find it on Google. If it takes hours of searching to find some information about you online, then you're probably doing a poor job of creating your personal brand. If the first thing someone finds is your Facebook page with pictures of you beer bonging in college, then you're doing a poor job of managing your personal brand. Regardless, Google is branding you as a party animal, or a music lover, or a blogger or completely out of touch. First impressions are important, and increasingly first impressions are happening on Google. You may as well make a good one.
Personal branding lets you learn about you
I have to admit, when I first heard the term personal branding, I thought it was kind of lame. But as I've progressed in my career and in my life, I see the importance of defining who I am to the world and more importantly, I see the importance in defining who I am to me. Entrepreneurs deal with this all the time. I often find myself in meeting asking the question, "What is Brazen Careerist? What are our values? What's our mission?" When you figure out those questions, you can accurately define your company's brand. Well, it seems pretty important to ask the same questions of an individual. What do you stand for? What are your goals? Where do you want to end up in life?
Creating a personal brand allows you to look at where you are right now, and think about where you want to be and then you get to project that self knowledge to the world. That's pretty powerful stuff.
So, what are you waiting for? Buy the book. Build your brand.
10 More Ways Generation Y Will Change the Workplace
Published by Ryan Healy on February 26th, 2009 in Generation Y, Noteworthy | 23 CommentsLast May, I wrote a post titled 10 Ways Generation Y Will Change the Workplace. It received a lot of attention and more importantly a lot of conversation. The gist of the post was not to say that Generation Y is great and we will make everything better. Rather, it was a testament to what I witnessed during trips to different companies and what I heard from my peers in the workforce.
Nine months later, the economy has collapsed and the workplace is changing before our eyes. This next year or two will be a defining time for our generation, and I believe it will shape our world view and work view in many ways. Based on this, I've come up with 10 more ways Generation Y will change the workplace. Hopefully it will strike up just as much conversation and maybe even some action, so things can start changing for the better.
1. We'll reduce executive compensation for underperforming companies
It's already happening. Obama put a $500,000 cap on executive pay at the banks that were bailed out. In 2007, the average CEO salary at the largest companies was more than $11 Million. It's hard to justify paying anyone that much. In some cases, these executives probably do provide more $11 million in value to their respective companies. And when that happens, they should be compensated for it. But having a CEO expect $11 million regardless of performance is just bad business. The Obama administration is setting the precedent, and as Gen Y takes power we will follow through and reduce executive compensation for underperforming companies.
2. Discussing salaries will be completely normal
Transparency is king. You hear it everywhere these days. Social media is forcing companies to open up their doors and show the world what's really going on. Obama has promised budget transparency to the American public. And the vast majority of the world's under-30 population are living their entire lives online. Transparency is no longer an option. Websites like Glassdoor and Payscale let you compare your salary with others in the industry. My company, Brazen Careerist practices complete transparency. Even financial gurus like Suzie Orman say it's great for business. As Gen Y continues to work our way up the ladder, it will just be a matter of time before companies of all sizes have transparent salaries.
3. Employees will be more loyal than ever before
Transparency does not just mean that everyone knows what everyone else in a company makes. It means that the company must educate their employees on everything that is going on. When Pepsi was ready to release their new "Gen Y Friendly" logo to the world, they wanted to make sure that their employees weren't surprised when they found it in the grocery store. So they invited their staff to a party and introduced the product. The employees were excited and they felt like the company actually cared about them. When employees feel like they matter and the company thinks about them first, they feel a sense of pride and true loyalty to a company. Expect to see this trend continue as Gen Y comes of age.
4. There will be less mass layoffs, but more pay cuts
When someone feels a true sense of pride and loyalty to their company, they're more likely to figure out a way for everyone to pull through when times are tough. We watched our parents and our friend's parents being laid off when we were young and we're going through it now. We know the hardship that comes with it. Don't be surprised to see across-the-board pay-cuts instead of mass layoffs when times get tough. Start ups do it all the time – my company did it without thinking twice. And it's already happening at large corporations; HP just instituted a 5% or more across-the-board pay-cut rather than laying off hundreds. When you're part of a team, you want that team to succeed, and you'll do what's necessary to survive. And as we all know, Generation Y is the ultimate team player generation.
5. We'll truly get over the "punch clock" mentality
It's easy to say you have a progressive workplace and that you don't care what hours people are actually working at the office or what they do outside of work. But the truth is, companies care and people care. At the typical company, everyone notices what time someone leaves the office and what time people get in. We're still stuck in a workplace that was designed around producing widgets on an assembly line. As life moves more and more online, and new technologies are invented that allow traditional offices to be truly optional, the punch clock mentality will slowly disappear. By the time Gen Y is ready to retire, people won't even know what a punch clock is, and maybe then we will finally be working in the environment that knowledge workers are meant to work in.
6. Independent contractors will become part of the team
Nearly every company hires independent contractors to work for them. Contractors are great. They don't require health insurance and you don't have to pay the extra taxes. But they're often treated very differently than traditional employees. As more people develop skills that allow them to be effective independent contractors, and some form of universal healthcare is finally adopted, companies will begin to think of their contractors as their employees. When Brazen had a big budget, we worked with a ton of contractors. When people asked how many employees we had, I would always mention that our team felt much larger because of all the freelancers. As the number of independent contractors increases, they will become a vital part of the team.
7. Corporate branding will work in conjunction with personal branding
Companies spend a lot of money on branding. They throw huge budgets at PR firms and superbowl ads. It usually results in a ton of brand recognition. But brand recognition is no longer enough. Consumers want transparency, conversation and experience. Generation Y doesn't want a company to talk AT us, we want to talk WITH a company. The only way for a company to talk with a person is to give employees the freedom to interact. It's already happening as people like Sharpie Susan are branding themselves as social media players and helping their companies in the process. Who knows exactly how this will play out, but as Gen Y invents new technologies and new marketing strategies, corporate branding will never look the same.
8. Leadership will be a team effort
Jack Welch was a larger than life CEO. Everyone knew who he was and his personal brand may have been just as big as GE's brand. In Good to Great, Jim Collins determined that dominant CEOs like Jack Welch actually have a lower than average ROI during their tenure. This is because CEOs need to be respected and admired by their employees, and they need to be selfless and always thinking about the organization. As a team-oriented group, Generation Y will not stand by and watch one person insert his will on the company. We will figure out a new form of leadership, where one person is the decision maker, but leading is a team effort. With all the new social technologies, there will always be a place for people with huge personal brands and huge personal egos. They will make a lot of money and still be well-known, but they won't be the ones running large organizations.
9. We will really know people before we hire them
I can't tell you exactly how they will look, but sooner than later, resumes will be extremely different. It's not because a hard copy piece of paper is outdated, it's because people are becoming more and more complex. Resumes were created when people went to school, graduated, got a job and maybe another job. But today people blog, job-hop and have multiple hobbies outside of work. We live our lives online. It's too limiting to judge someone based on one sheet of paper. Social technologies give employers a window into people's souls. As Gen Y become responsible for hiring decisions, you can bet we will know almost everything we possibly can about someone before we give them an offer.
10. Entry level employees will be students and teachers
In the old days, entry-level employees had to pay dues before they moved up. This makes sense, it's impossible to know how a job or an industry works when you've never been there before. Young people had everything to learn and nothing to teach. Things are different now. For the first time in history, the youngest people in the workplace have the most knowledge about a very important topic – technology. And get this; we want to teach our bosses and managers how to use these technologies. This trend will continue. Young people will stay on top of the newest useful technologies. As Gen Y grows up, cross-mentor programs will be instituted. Old will teach young and young will teach old. Sounds like a great environment to me.
5 Things Small-City Companies Can Do to Recruit Gen Y
Published by Ryan Healy on January 15th, 2009 in Generation Y, Recruiting | 7 CommentsMost high performing people don't stick around one place their whole lives anymore. They're generally attracted to large cities with like-minded people. Because of this, companies based in small cities need to work especially hard to recruit top talent. But from my experience, if the right job presents itself, most Gen Y go-getters are totally open to new opportunities and new cities of any size. Companies based in small cities may be at a disadvantage, but there are things they can do to compete. Here are five.
1. Embrace your city
A lot of people grow up with dreams of moving to New York, L.A. or Chicago. So, if you're headquarters are just outside of Madison, Wisconsin, you better have something up your sleeve to compete.
Epic Systems does. They're competing by embracing their city. The Madison Art Fair is the place to be when the weather gets nice. When springtime rolls around, Epic encourages their employees to go to the fair and buy a piece of art. Epic will then hang the piece on the wall and reimburse the employee 100%. Epic has figured out how to embrace their location and you better believe they tell visiting recruits where all their beautiful art came from.
2. Put your young people on the front line
The biggest reservation that Gen Yers have about moving to a small city is that nobody our age will live there. When you don't have a family, a social life is extremely important. Companies need to show recruits that there are other young people working there by putting them on the front line.
Be sure the career fair recruiters are young. When you bring recruits in for an interview, send a young person in as an interviewer, greeter, or tour guide. Finally, let your recruits spend a night out on the town, all expenses paid, with your top young employees. Don't be shy to instruct your employees to talk about the cost of a night out, or the discounted rent in your small city compared to what it costs in New York or Los Angeles. If they still don't want to take the job after experiencing the best your small city has to offer, then you're probably out of luck. But this is one surefire way to find out.
3. Brand yourself as a great place to work
It seems like every year, the same companies end up on the best places to work list. Giants like Google, Ernst & Young and Deloitte are always named. They make the list because they consciously brand themselves as employers. Sure, they brand their products and services, but they know the value of people, and they make sure people know the value of working there.
This year, Quicken loans hit number two on the list. Quicken is located in Livonia, MI, a small city 20 miles outside of Detroit. They manage to attract top talent despite being located in a small city in the Midwest because they are consciously branding themselves as an employer of choice. And they're making a lot of money doing it.
4. Be a great place to work
Branding your company as a great place to work is a great idea. But an even better idea is to actually practice what you preach and be a great place to work. W.L. Gore has been a great place to work since they started in 1958, and the media has in turn, branded Gore as a great place to work. Without actively pushing their agenda, people (like me) have discovered that Gore is a unique company with no hierarchy, no job titles, and the opportunity for leaders to emerge from anywhere.
They were number 15 on this year's list, and they're located in Newark, DE. Newark is a nice little town, but it's certainly no New York City. Gore has managed to overcome their small city location and thrive for more than 50 years.
5. Expand your recruiting network
You may think that being headquartered in a small city requires you to stay local when it comes to recruiting. I disagree. By staying local, it's very hard to recruit the top talent. If you want to create a world class business, you need world class talent, and world class talent is probably not all local.
At Brazen Careerist, we knew that finding all of our talent in Madison was probably not a great idea. There is certainly a lot of talent here, but limiting ourselves to local recruiting would eventually hold us back. We managed to recruit one person from Philadelphia, and another from Chicago. They came to a small city because they saw opportunity in the job. If you expand your recruiting network and provide a unique opportunity, people will come to a small city. It just takes a little extra effort.
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