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Known as those born from roughly around 1980 to 1999, they are the youngins who make up the largest generation in the Singapore workforce.
As with all generations, millennials have developed their own culture, thoughts and beliefs. Empowered by education and emboldened by ‘Team Internet’, they have spent most of their lives in an era where information is widely and quickly available.
And this has led them to bring certain issues to the fore – such as the legalization of marijuana or the idea of marriage equality – that would have otherwise been seen as utterly taboo just a decade or so ago.
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Their approach to jobs is radically different as well. Concepts such as work-life balance, job-hopping and even management styles that lean towards the Bottom-Up approach have become new ideals for many of them.
As such, employers have long debated on the best approach towards bridging the generation gap. And these debates have led employers and industry leaders to form polarizing impressions of these new kids on the block.
Some of the many concerns raised include the flawed attitudes that millennials carried with them and the unbreakable link they have formed with social media.
In an interview that went viral, author and marketing guru Simon Sinek gave a blistering view on how millennials were unprepared for the real world due to their unrealistic expectations of how working life should be.
He attributed this to “failed parenting strategies” where children were “told they were special, all the time”.
“They’re thrust in the real world and in an instant they find out they’re not special, their mums can’t get them a promotion, that you get nothing for coming in last – and by the way, you can’t just have it because you want it.”
– AUTHOR AND MEDIA GURU, SIMON SINEK
He also faulted social media platforms such as Instagram and Facebook for allowing youths to put a filter on their lives and paint a false persona of themselves online.
He further commented that as social media gives users a hit of dopamine every time they receive a ‘like’ or ‘comment’ on their post, it is “highly, highly addictive”. He then likened the act of social media interactions to smoking, drinking and gambling.
“We have restrictions on smoking, gambling and alcohol, and [yet] we have no restrictions on social media and cell phones.”
– AUTHOR AND MEDIA GURU, SIMON SINEK
Some experts too, felt the use of social media has caused millennials to have a lack of experience in face-to-face interactions and weak communication skills, key skills that all employees should possess.
At home, Deputy Prime Minister Tharman Shanmugaratnam too, shared his own concerns about the idea of job-hopping.
“People do not stay long on the job, and are impatient to move on. Fewer believe in learning the ropes, taking time to develop skills on the job and working their way up,” he said.
It seems that while some struggle to understand and manage millennials, others have things figured out.
According to author Sydney Finkelstein – he stated that after conducting 200 interviews and encountering a significant number of case studies – industry leaders such as fashion designer Ralph Lauren, tech innovator Larry Ellison and more have solved the ‘millennial conundrum’.
In his 2016 book, Superbosses: How Exceptional Leaders Manage the Flow of Talent, Finkelstein argued that by providing coaching, creative freedom and collaborative learning opportunities, said leaders were able to encourage their employees to do meaningful work and make them feel appreciated and respected.
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And instead of grappling with paranoia on whether or not an outstanding employee was going to leave, these employers were generous in imparting knowledge and training to them.
And when an employee does leave, many of said companies will keep in contact and form both formal and informal relationships with them.
The result? These companies were able to broaden their network and strike business opportunities with other companies through their former employees.
More importantly, these companies were able to create a positive reputation for themselves and in turn attract other capable individuals, thereby renewing their talent pool consistently.
And according to Finkelstein, the aforementioned industry leaders who utilized these strategies were able to establish successful and powerful companies.
“By unleashing and harnessing the passion and creative energy of their young protégés, the bosses built successful companies, changed their industries, and in a number of cases became billionaires.”
– AUTHOR, SYDNEY FINKELSTEIN
Amidst the differing views, one thing is certain: millennials have been dealt a bad hand economically.
Despite being the most educated generation yet, a combination of rapid inflation, high unemployment rates and increasing debt (the big one being pricey university loans) have stopped many young adults in their tracks.
In a 2016 survey by local finance site Sing Saver and dating application Paktor, it was revealed that 63 per cent of young Singaporeans feel they are financially unprepared for marriage.
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An overwhelming 86 per cent have also considered the costs of a wedding and future steps – i.e. buying a home etc – and stated that they would not get married just yet “if it means being in debt”.
And perhaps this is where the root of higher expectations, job-hopping and demands for better terms and wages lie.
For if millennials do not reinvent themselves and constantly seek better opportunities, they simply would not be able to out maneuver the current economic climate and achieve significant milestones in their lives.
