When I read my daughter's article about her "Cheap Week" it warmed my heart that she is as cheap as I was. It brought back memories of my own youthful financial desperation. It's good to know that she's inherited the family cheap streak. I, too, had to be cheap, so why did I get concerned when I realized my daughter was tippy toeing around the poverty line?
The definition of a traditional career does not lend well in today's innovation and technology driven economy. Workplaces are changing. No longer must you come into the office everyday for business meetings when you can stay at home and with a click of a button, video conference with executives around the world.
Millennials are reaching the age when they should be achieving financial autonomy and independence, but unfortunately many aren't. Why are millennials having so much difficulty landing a job and living independently? According to a survey, this generation says its biggest obstacle to financial success is the lack of earning power and unemployment, followed by a lack of budgeting, planning and saving.
Nine-million baby boomers will retire from the workforce over the next two decades, and when they do, they will start to consume the most expensive forms of government programs. This is great news for seniors, but terrible news for our public finances and for young Canadians forced to foot the bill. Generation Y has been dubbed the "Millennial" generation because we came of age at the turn of the new millennium. A more fitting name for this cohort is Generation Screwed.
My mentoring work has led me to conversations with millennials who have left a positive and lasting impression. I have learned much from them -- practically and personally. Their different view of the world, while seemingly foreign to the older generations, can provide a different lens through which to see things that can have a profound effect on business.
After the initial shock of Junior Child moving back home we started to realize that this situation was not so bad. Our individual lives, which had expanded to include activities and friends that were not possible during the child rearing years, were not curtailed. We started to enjoy the company of our adult daughter and were able to offer help with cover letters and resume writing.
What I think is important to remember is that the twenty-somethings of the 60's weren't any different than us. They had the same advantages and disadvantages that we have -- I mean, minus iStuff. But they felt comfortable enough to get weird and be anti-establishment and fight for what they believed in. Why don't we?
Social entrepreneurs are an interesting and, in many respects, a hard-to-define breed. Their principles do not fit neatly into the predefined parameters that have been established in for-profit entrepreneurship or charitable organizations. These constantly evolving principles of social entrepreneurship include:
Selfies, to me, are narcissistic. There's no denying that. But they also show the world who I feel like I really am inside. I am a great selfie taker; I get all my best angles because I know to look for them. The photos I produce are ones I'm proud of. For me, selfies document my journey with my own self-acceptance.
Yes, the Millennial Generation. The generation born between 1982 to 2002 that has been mischaracterized by many employers as lazy, incompetent and entitled, is the same Generation that is the best prepared for the changing nature of work. The reality is that the demands of today's Millennial Generation are the same demands that enable their own survival. The Millennial Generation is merely being motivated by self interest and self protection given today's economic and social constraints.
In Canada, the average salary is expected to increase only 3.1 per cent in 2014. Various trends continue to replace straight-up salary increases, such as targeting top performers with bonuses and enhanced reward programs. In fact, this trend toward softer, intangible benefits from companies is exactly what we Canadians have been asking for.
They're in their twenties; they're hungry. They're coming for your office. They're "Millennials" and many will want to wear flip-flops to work, don't care about spelling, have zero discipline, and expect the keys to the C-Suite. Like it or not, managers have to find a way to help Gen Y. Here are a few techniques for mitigating millennial migration.