It’s Not a Millennial Thing — It’s The Economy

When I graduated college in 1995, the economy was different. More so than age or experience, that environment shaped my approach to a career.

These days you read article after article and hear session after session at conferences that millennials represent a different mindset and a different approach to business. But more than how they were raised, it’s the economic environment affecting them.   In short, I don’t think it’s a “millennial thing.”  I think it’s an “economic thing.”

When I got my first job, it was due to a lot of hard work and diligence.  I sent out a few hundred resumes and took any meeting I could get, and once I landed a gig I operated under the assumption there were 10 people standing behind me ready to do my job better than me, and for less money (although in retrospect I don’t know how anyone could have been paid less money that I was in my first job).

 When my bosses asked me to do something, I always responded with a firm “yes” —  and never once did I question the assignments.  Call it fear – I was always afraid for my job.  I figured I had to always be proving myself and looking to succeed in order to prove to the people around me that I was a valuable part of the team.  

I did my job and I did it well, but I also started a company on the side so I could supplement my income and find a way to survive and thrive in New York.

Millennials have been born into an economic environment where opportunities are around every corner. For a generation that was given a trophy just for showing up and participating, the rule is you should automatically be recognized and rewarded for being involved.  

All that being said, I still don’t think it’s a generational thing – it’s simply the lack of fear for their careers.  In fact I would go so far as to say their notion of a career is different.  In my mind a career is something you strive to succeed to represent your value in the work force.  It can carry similar weight to the legacy you leave with your family, although it very much takes second place because family is so vitally important to your well-being.  

For a generation where start-ups abound, the millennial career takes more of a journeyman approach.  It’s the difference between playing your whole career with one team, (for example, Derek Jeter or Michael Jordan) or following a different path where you follow your heart (like Kevin Durant or Lebron James).  You do what you want when you want to, and you follow the path of your heart more than the path of your mind.  

The difficulty lies in how you manage and motivate employees who are not following a clear path.  If you can’t see the path, how do you know what it looks like?  How do you manage employees when you know they carry around their resume on their phones and are willing to hand it to the next big person they meet – regardless of who sees them do so?  How do you motivate them to succeed when their emotional ties to their careers are so tenuous and “matter of the moment”?

The economy drives much of the conversation.  You have to create a working environment that feeds your team in both an intellectual as well as a financial manner, and you have to be looking to get the most value reciprocally out of your team while you have them.  

A mentor of mine used to tell his people he knew they were only going to stick around for a period of between one to three years, but if they did a great job during that time, he would be a valuable reference for life and could help them throughout their entire careers.  He always stayed true to his word, looking at his “alumni” more as graduates rather than ex-employees.  That valuable shift in perspective has helped him throughout his career and has helped mold many people in the business.

Your approach as a manager has to shift with the economy and you have to understand the environment in which you hire, train and work with your employees.  If you don’t, then you’re destined to fail.

By Cory Treffiletti, Featured Contributor
Cory, vice president of marketing for the Oracle Data Cloud, is a founder, author, marketer & evangelist.