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Last 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.
Excellent post! I truly believe that Generation Y will change the landscape of how companies operate. If companies would invest more time in appreciating their employees they would see a dramatic difference in company morale.
People oftentimes cite money as a reason they are leaving their job, but that’s just a scratch on the surface. If you dig deep enough the real reason people leave their jobs is because they are unhappy with how they are being treated. I guarantee you this same person would be willing to stick around if they felt like they were apart of the team. You can’t put a price tag on respect.
@Ryan
I think you're dead on the money with a few of these. I'm going to add to the discussion or comment on each.
1.) I hope this happens, and I hope that it stays in place when Gen Y obtains those positions of leadership. It doesn't do us any good if we encourage it to be instituted now and start coming out of this slump and then bolster those salaries when it's our time to step into those roles.
2.) I don't think so. I have no problems discussing my salary, but I find that my peers are VERY different. In my graduating class of 16-18 people, nobody was willing to discuss it with anyone aside from their very best friends. And in general, we were all relatively close and transparent with other aspects of our lives.
Most people don't want to make others feel uncomfortable if they're making more money. While I know it's different with you guys at Brazen, most people are terrified that sharing their salary means they have to go above and beyond (and they should), but they won't.
3.) I don't know that it's employees that will be more loyal. We're all job-hoppers. I think our generation will force companies to be more loyal to us, and as a result of that we might become more loyal. As of right now though, I think companies like Pepsi are the minority.
4.) I agree, and I hope this trend continues.
5.) All I'm going to say is that I sincerely hope so. I know that I would be WAY more productive working from home than in an office surrounded by people chatting with me, and a big screen television 6 inches above my head.
That's not to say that I wouldn't come in when it was necessary or when I needed the company and the co-workers, but the environment isn't necessary for 95% of the work I do.
6.) I think this is definitely true.
7.) Inevitable. I think we can all watch Scott Monty, who in my opinion seamlessly integrates his own personal branding and networking in with his job at Ford. Both brands benefit in huge ways.
8.) This is interesting. While I want to say yes, I'm not convinced. There are so many CEOs that have such huge egos that I suspect this will become less prevalent than you're anticipating.
9.) I also think this one is inevitable with our generation, and think it's a great thing because just because someone is qualified doesn't mean they fit into the scheme and mindset that your company encompasses. I think it's becoming AS important to get along with your co-workers and have them believe in the values of the company and just being 'good at what they do.'
I know jrandom42 will disagree without fail. And I know this doesn't hold true for EVERY profession.
10.) I agree. Nothing to add here.
Hope I'm jump-starting another good discussion similar to the one that took place on your last post about how Gen Y will change the work place.
Ryan
Ryan,
I'm a Boomer, with two Gen Y kids. I am glad you feel this way. It would be terrible if at your age you felt otherwise. I went back and read your previous post, and all the comments. I don't want to try and refute, or support, any specific predictions you make. But I would like to ask you to write another post.
Assume that competition exists. Assume that in business, your company will have to compete, some times for its life. And, even more importantly for the vision you are putting forward, as your company grows people inside the organization will compete with each other. This happens. No matter the generation, people compete for scarce resources, they compete for power, they compete for recognition. If that is true, which it is, then how does Gen Y deal with competition differently than we Boomers have dealt with it? Because much of your manifesto, IMO, assumes that the desire to help and support others prevails over the desire to maximize personal gain.
As for #4, this is nothing new. In the early 70's, when HP was facing a downturn, everyone took every other Friday off, took a 10% cut, (managers and executives took 20-30% cuts) and those who were in departments to be eliminated got first crack at any job they could qualify for within the company. It's just Mark Hurd returning to the true values of the HP Way, as Bill and Dave practiced them.
@LPC
I think that's a phenomenal suggestion for a post and something that I hope Ryan considers tackling. I think despite the fact that guys like Ryan and I have enjoyed a large range of experiences compared to peers our own age, we haven't even had the realm of experience with things like competition in the workplace that some of our elder counterparts have had.
It's something I see (though relatively subtle) in my small office everyday, but it's certainly present, even if it's not on the surface. Thanks for giving me something else to think about and negotiate.
In general, I think a lot of these changes could be good ones, and they seem more plausible than the earlier post. However:
#3: It takes more than this. How do I know? Because it's easy to make a show of this kind of thing when the day-to-day reality doesn't match, and employees can tell the difference. A direct parallel: I once worked for a company that first unveiled its new logo to employees. The universal response? Meh. Because on a daily basis, the company did not support us. None of us cared if we knew about the logo first. The logo wasn't what needed to change. If companies want loyalty, they have to offer it.
#4: In 1990-91, I was a TA at a state college. A 2% paycut was imposed on all state employees, including TAs. It was definitely better than losing my stipend entirely, but 2% of my stipend was my rent, less 2%. It did hurt.
#5: It will still not be cool to text your boss at 4:30 a.m. to say that you won't be in. Your boss's phone probably rings and wakes him or her up.
#9: I see so many complaints when employers make use of this ability now. Why will it be better when Gen Y does it?
@Latosha so true, sometimes people leave because they can make more money, but I would bet that a lack of respect has a lot to do with it.
@Ryan Thanks for the thought out comment. As to loyalty in #3, I think there is a big difference between loyalty to a company and loyalty to your peers, co-workers and friends. Its not blind loyalty, its earned loyalty. But I do think you're right about companies needing to be loyal to their employees. It's a two way street.
@amid of course competition exists, and there will always be times when the company has to fight for its life. The difference is that when a company is fighting for its life, it really means that the employees are fighting for the life of the company. If that's the attitude that everyone has, then people will compete with each other because we all want more power, money, respect etc. but the ultimate goal will be survival of the company over personal gain. There will always be those that are are selfish, and they will be fleshed out to do things on their own.
@jrandom thanks for the tip, I didn't know that.
"The difference is that when a company is fighting for its life, it really means that the employees are fighting for the life of the company."
That depends on what the company tells the employees. This sounds like a case in which the employees didn't have a chance to fight for much of anything beforehand:
I'd assume that in order to implement some of these changes - mainly #5 and #6 then #11 will also have happened which is:
#11: Gen Y has managed to take over the legislative process at the federal, state and local level to loosen the restrictions on FLSA rules regarding exempt and non-exempt employees.
I have Gen Y employees joining our workforce that don't understand why they have to punch a clock, and I have to explain to them that there are federal and state laws that require employers to document time worked (even for knowledge workers if they are non-exempt). It's simply not possible at this point in time with the current laws on the books to get rid of the time clock.
Same with #6, there are dozens of federal and state regulators that govern independent contractor relationhips and at this point, you can't treat IC's like employees otherwise that means they ARE employees.
I'm not saying these things won't happen, I'm just saying that it will take more than Gen Y taking over the workforce, they'll have to take over the government too - and that may take a little more time to do.
Ryan:
This entry is much better than the original. I agree with you that these are changes that Gen Y will be a part of. It's clear that you have grown a lot in the last year. You pissed off a lot of Xers last time. I don't think you will here. Well done.
-GenerationXpert
It's amazing to see how far ahead of their time H-P was. All the stuff Ryan talks about has been practiced at H-P for decades, until Carly nearly destroyed the company.
I had the great good fortune to work at H-P B.C. (before Carly), and it was one of most wonderful places to work and learn. I also had a chance to talk briefly with Bill Hewlett before he died and his wisdom and insight are things I still treasure.
Bill & Dave: How Hewlett and Packard Built the World's Greatest Company by Michael S. Malone
http://www.amazon.com/Bill-Dave-Hewlett-Packard-Greatest/dp/1591841526
The HP Way: How Bill Hewlett and I Built Our Company by David Packard
http://www.amazon.com/HP-Way-Hewlett-Business-Essentials/dp/0060845791/r...
Ryan,
Great post! The ideals that you are talking about are so important and I encourage you to keep them intact during this pivotal time. For #2 (salary transparency), I would suggest you look at the book "Maverick" by Ricardo Semler - an amazing book about an amazing company. As for #4, it's good to hear that HP has gotten back to that policy (my Dad, from the Silent Generation, worked there for 33 years and never say a layoff).
As for the team effort, I would be curious to get your take on my comparison of generational attitudes - it may play into much of this discussion.
This video from PopCast last year is very instructional about how to make a vision a reality. Keep up the great work and make your dream a goal and then a reality!
Dave
Well, Generation Xpert, us Millenials sure wouldn't want to piss off those Gen Xers.
Psh. Piss off?
More like Gen Xers get rabidly vindictive about Gen Y's optimism to change the workplace (which most Gen Xers don't even enjoy).
Anyone want to explain to me why so many people in Gen X want to tear down the idealism of Gen Y? It's so weird to me.
Ryan - This post and the post you wrote before it were both fantastic.
I can't wait until we're all able to look back on these idealistic posts and realize we've achieved the goals we've set out to. It's going to be an awesome trail of our accomplishments, don't you think?
@katenonymous thanks for the link, thats an unfortunate situation. The company owes much more than an email at 5 pm laying people off. Hopefully others don't follow suit.
@Erin very true, it will take much more than private corporations, government will have to pass new laws as well. It may take a little longer for this to happen, but I believe it still will.
@David thanks for the tip, I haven't read Maverick, but I have read the 7 day weekend, Semlers other book. His company is truly ahead of its time, i was amazed.
@Jamie, Thanks! Yes, I agree. It will be cool to look back on these posts and go through the list checking each one off :)
"Anyone want to explain to me why so many people in Gen X want to tear down the idealism of Gen Y? It's so weird to me."
@Jamie, Anyone want to explain to me why so many people want to dismiss Gen X as if we hadn't had the same dreams and been through a welter of life experiences in the intervening years, rather than listen to us and see what there is to be learned? It's so weird to me.
@KateNonymous - Yes. I can explain. If Gen X would be willing to listen to us before dismissing us as arrogant and entitled, then I'd be more willing to listen. It's hard to learn anything from people that are being condescending.
But I do think you make a great point. I want to learn from older generations! It's just very difficult to be told that our idealism is silly and naive. I wonder which came first: the sort of Gen Y dismissal of Gen X or the annoyance of Gen X towards Gen Y?
@Jamie I think your point is well taken. Obama is a Gen X'er (born 1961-1981) who gets what Millennials want, and knows how to market to that. If more X'ers could figure out how to do that, we would probably have more effective leadership overall (most of the congress is boomers right now).
But here is the challenge of our times: Boomers (born 1943-1960) are in control of most of our institutions and they have strong ideologies. Gen X'ers are the jaded and pragmatic middle managers. And Millennials are the powerful and motivated youth. This combination of generational personalities is highly flammable! The tendency for Millennials to go out and build things based on their ideals is amazing, but the outcome will depend on which ideals that the generation aims for. The last example we had of this was in the 1930s, when the youth of the world were deciding who to follow: the Axis or the Allies.
The antidote to this sort of polarization MUST come from Generation X. We are the only generation that is pragmatic enough to consistently question ideals and motivations of the Boomers. The problem is that we are so weary and jaded from our journey that I am not sure if we are up to the task. I am not saying that individual Millennials don't question ideals, but as a generation, Gen X'ers are much more cynical and therefore want practical answers.
If Millennials can hold Generation X accountable for what they need to do (see with clear eyes and give a practical approach to success) and Generation X can allow Millennials to really build on their ideals, then we stand a chance. If Gen X just falls into survivalism and cynicism, while Millennials drive to build a "brave new world" without the support and guidance from others, there is great risk.
Actually, what comes after idealism, is the real world as it is, crushing them in an slaughter of dying dreams and hopes. It happens to each generation as they come of age to participate fully in the "grown up" world, so don't feel like you're being singled out and persecuted.
More from Despair.com
http://www.despair.com/bitterness.html
http://www.despair.com/delusions.html
http://www.despair.com/dreams.html
@JRandom42,
I don't agree. Gen X'ers are fairly unique in their belief that idealism is crushed as you grow up. The GI Generation (aka Greatest Generation, born 1901-1924) never lost their idealism. The grew up in tough times, won a massive battle for their future and built a new society based on their ideals ("The American Dream"). Their crushing blow came much later when their kids (the Boomers) decided to tear down everything they had built.
So although today we have very little contact with people who had ideals and built them (because most are dead), they did exist not that long ago. And that is why the generations repeat themselves: their is no living history to directly guide their actions. Millennials are similar to the GI Generation in many ways, but their day to day exposure is to Boomers and Gen X'ers. We can be a pretty depressing and dour bunch and misery loves company!
@Dave Thats such a great point. Sociologists say that Millennials, like the GI Generation is a "Civic" generation. We have realistic ideals and we have full intention of seeing them come to fruition. I oftent find that Xers and Boomers have a completely different take on the world and its not just because of life stage. Of course, that is a part of it, but there is much more at play.
@Ryan,
I agree that the attitude of X'ers and Boomers is not about life stage. In our society we often think in a linear fashion. If life has been getting more fractured for 20 years (it has) then it is bound to get even more fractured in the future (it won't). Our society works in cycles, but they are difficult to see (I did a post on this a while back: Linear Thinking leads to Cyclical Reality. As an X'er it is easy to assume that the thing that happened to our ideals (they were beat out of us by the "real world") will happen with the next generation. But as you point out, life stage is not the main issue.
The tough part for the Millennial generation will come later when your kids rebel and tear down what you have built (say around 2040 or so). If I am still around you can count on me to look on with some amount of bemused satisfaction. Us X'ers are prone to schadenfreude after all :-)
Dave
Wait, Baby Boomers were just as idealistic in our day. Having ideals frequently requires tearing down previous structures. What do you think all that marching was about? How can you seriously say that most people who had ideals and built something are dead now?
@LPC
I agree that Boomers had ideals! But they had ideals that were about tearing down what existed. They were not unified in their desire to build something new, but they did all agree that the old establishment had to go. This is a VERY different approach to ideals than the GI's or Millennials had/have. I am not saying that the Boomers didn't accomplish anything, they did (stopping a disastrous war, gaining equality for many, etc...). But they were/are NOT society builders. I have a 10 minute video that describes exactly this topic (generations and ideals). Let me know what you think:
Generations Explained: Understand Generational Cycles in just 10 Minutes
Dave
"I wonder which came first: the sort of Gen Y dismissal of Gen X or the annoyance of Gen X towards Gen Y?"
I'm going to go with choice A, and suggest that it was modeled by the Boomers.
Look, if Millennials can change the working world, great. There certainly are ways it can and should change. I don't think anyone disputes that, or presents it as some paradise that should remain inviolate.
But the seemingly relentless cries of "We're going to do better! We're going to make things better!" can sound an awful lot like "We're inherently better!" And frankly, that's (a) rude, and (b) hard to prove.
A lot of the things you're saying--new ways of working, work-life balance, etc.--are things we said. There are more of you, so maybe you'll be more able to effect change. But that's not based on some level of specialness that others before you have lacked. That's based on demographics.
@KateNonymous,
I have to disagree. The Millennials are inherently different than us (Gen X'ers), and have a MUCH better chance of changing the world for the better because of it. We X'ers were raised by a bunch of parents more concerned about adult issues than kids. They were busy tearing down the old establishment to worry about whether their kids were high achievers. This generation has been raised with the expectation of building something. And that is their orientation because of it. When it comes to building on a group vision, they ARE better than us! It has nothing to do with size (there are a lot of Gen X'ers). It has to do with attitude.
That said, Gen X'ers have a great deal to offer in our pragmatic and realistic view of the world. That is not because we are midlifers, but because of the world we grew up in. We know how to set very clear goals, hold people accountable, ferret out the truth and get things done (at least as individuals). When it comes to individual competency, it is hard to beat Gen X'ers. We need to use those strengths to build something better as well.
We both need to get over our annoyance at each other as generations and figure out how to move forward in a positive direction. So what if Millennials sound arrogant. So what if X'ers sound cynical and condescending. We need to play to our strengths, especially in these times of crisis.
Dave
Xers have parents from multiple generations.
I think that too many people ignore stage-of-life issues. Yes, we are all products of the times in which we grew up. But we are also part of more standard life progressions.
What were Baby Boomers doing in their 30s and 40s? What are Gen Xers doing now? Why is it so hard to believe that Millennials will, to some extent, follow a similar path?
We're not all the same. But I don't think we're as different as the media likes to portray, either.
And there aren't nearly as many Gen Xers as there are Millennials. The numbers simply aren't comparable. And that's why they are part of the answer.
@KateNonymous,
I agree that stage-of-life is important, but not in the way most people think. Here are the stage of life definitions from Strauss and Howe's book "The Fourth Turning":
Childhood (pueritia, age 0–20). Social role: growth (receiving nurture, acquiring values).
Midlife (virilitas, age 42–62). Social role: power (managing institutions, applying values).
Elderhood (senectus, age 63–83). Social role: leadership (leading institutions, transferring values).
Late Elderhood (age 84+). Social role: dependence (receiving comfort from institutions, remembering values).
So there is a specific role for each life stage, but the way that each generation carries out that role is very different. An example will help illustrate.
Let's take a guy born in 1923 (GI Generation) in the US. The world around him during his childhood is fractured by economic hardship and political fighting, but his parents protect him as much as they can. By the time 1941 rolls around he is 18, and enlists in the army, just like his Mom and Dad would hope. He fights valiantly, comes home in 1945 with his huge "Band of Brothers" with a positive outlook and a desire to build something lasting. He is optimistic and has every reason to be so. He has a family, community and country that he loves and that loves him as well.
Now let's go fast forward to his kid, born in 1951 (Boomer). He has everything he wants growing up, and the world around him is stable and friendly. His parents live in the 'burbs that their generation constructed, and he is given all the chances to succeed. He is encouraged to go and do great things, to think of new possibilities and change the world. By the time he is 18, he is living in Haight-Ashbury, smoking pot, singing anti-patriotic songs and trying to stop a war. He and his friends push hard to tear down the established society, but are not cohesive enough to build up a new one while they are still young.
Okay, these are stereotypes, but they do inform about the character of these generations. Could the GI possibly imagine protesting against the war when he was 18? Could the Boomer possibly imagine putting on a uniform and heading off proudly to battle? There were examples of WWII protesters and lots of boys that fought in Vietnam, but both were ostracized by society!
So life stage does play into it, but your generation has a powerful hold as well. Millennials will NOT be like Gen X'ers, Boomers or Silents in young adulthood, and we make a fatal mistake to believe that is the case.
Dave
Well, you can't really do #1, can you? As long as salaries are set by supply and demand, strategic positions like CEO will pay outsize salaries. As for underperforming companies - well, if they want to stop underperforming, they need to have effective management. Turnaround specialists are specialists - and specialists get premium compensation.
Now, would it be nice to have true pay for performance in the corner office? Sure, but star players don't have to accept those kinds of terms.
A decent analogue is professional sports stars. The best get no-trade clauses, guaranteed compensation... and what some might consider outrageous compensation. The only real difference is the employment at will in the corner office vs. the contractual relationship in the dugout or sidelines. As long as there is a Steinbrenner willing to break the bank to bring home the stars, it will be impossible restore the populist "ideal".
One last point about "underperformance": if you took the subprime mortgages out of the equation, would Citi, BofA, Wachovia and AIG be underperforming? Would Lehman still be dead? I haven't run the numbers, but I would guess not. To lay the subprime mess, and the subsequent, at CEO doorsteps is probably misguided.
Now, the Big Three... now, that's underperformance of their own making. But, they're the exception that proves the rule.
Yes, it is fatal. It will kill us all.
I don't think that the life stages you're describing are all that divergent from my view of them. They're just narrower in focus, because they center on the workplace rather than on the entire life, which also influences how people work at different stages.
@KateNonymous,
Agreed on both points!
Dave
@Jamie - I agree that Gen Y is optimistic and that is an asset. I think the reason you see so many Gen Xers on this site is that we are interested in what Gen Y thinks. And I know from the large number of emails I've received from Gen Ys on this site that Gen Y does care what Gen X thinks, too.
A lot of Gen Xers went through exactly what Y is going through in terms of starting their careers in a terrible economy. There are a lot of smart Xers (even in this post) who can help Ys. Go back and look at @KateNonymous post where she says:
"But the seemingly relentless cries of "We're going to do better! We're going to make things better!" can sound an awful lot like "We're inherently better!" And frankly, that's (a) rude, and (b) hard to prove."
There is some really good advice in there. Think about it, if someone says something that comes across like "We're inherently better!" it's 1) not nice, 2) not true 3) will hinder her career progress. Gen Xers do not know this because we have some sort of sixth sense. We know it, because a lot of us made the same mistake.
The difference between Ryan's first post and this one is that the first one had a "We're inherently better" vibe. I'm already taking too much space here to break it down, but it did. This post, however, discusses really specific Gen Y stuff (stuff that Gen X did not do before them, which was not the case in a lot of the first article). I think there is a lot to be learned from Ryan. I have been following his writing for about a year now and he grows, he learns, and it's really clear that he's paying attention to what other people say. And he doesn't snipe.
For more years than I'd like to admit, I've been traveling across the country to make presentations about Gen X. When I first started, I'd piss off, I mean anger, the Boomers, because I had a self-righteous attitude (this was before Y was in the workforce). That doesn't happen to mean anymore, because I've learned that there is no supreme generation. I can go into a room and say "Gen X has an image problem. Even though we're grown up now, a lot of it started with grunge music. And it's true. We wore the flannel. We were angry. We worshipped at the alter of Kurt Cobain." And you know what? When I accept that Xers were - in part - responsible for their image problem, it's a lot easier for the Boomers to accept our accomplishments (like, well, Google, Amazon, you get the picture).
Dave,
I went to your site and saw your video. This is the kind of thinking that's somewhat interesting at a high level. At a century level view. But to say that Boomers were more interested in tearing things down, hey, I was there. Just ain't so. There was a brief period in our youth, provoked by the very real injustices of racism and the very real danger of war, where protest dominated. The fringe talked about revolution. The mainstream talked about free love. And marijuana.
Nor did we as Boomers in any way neglect to focus on our children. You should realize, many of us have Gen Y kids, have raised those same idealists you discuss.
Books are books. Life is life. People are people. It would be really risky to evolve a career strategy, or a management strategy, based on the generational theory you are promoting here. I am sure you know this. Many more theories about these generations will be put out there before the end of the 21st century.
A great conversation starter indeed, Ryan! Over here at The Purpose Project, we're constantly talking with folks about how to bridge the divide between generations in the workplace. And frequently, the best way to start a productive conversation about the topic is to have each side give the other the benefit of the doubt. This premise may seem either a bit hokey, or obvious, but it really does work.
As the party proposing change, Gen Y would be well-served to spend some time finding out why policies have been put in place before demanding that they be changed. Similarly, Gen X/Boomer leaders would be better off if they acknowledged that the fresh perspective and innovation brought by Gen Y could help ensure the vitality and relevance of their company/organization in times of uncertainty and change instead of attributing alternative ideas to naivete or inexperience.
The truth of the matter is that when the structures that are in place now were built, they were constructed that way for a set of very good reasons, based on real experience, and, they just may have been revolutionary themselves. That doesn't mean that all structures are meant to endure the ages. Society, the economy and circumstances change all of the time, and policy should too. However, we should be careful to consider the lessons learned by our predecessors before jumping to conclusions. Because there might just be something in that experience that will help us come up with a better solution than we would have without it.
And that is why I want to highlight your assertion that Gen Y will serve as both teachers and students within the workplace. I couldn't agree more, but I think our contributions aren't limited to familiarity with technology. I think that we have a tremendous opportunity to bring new skills, passion and energy to our employers. Our youth and idealism allow us to see possibilities that might be overlooked by our bosses who have become accustomed to business as usual. We also have a higher tolerance for risk. Because we haven't invested our time, energy and resources in the options that are currently on the table, we're not attached to any of them, and are more likely to propose something completely different. And, most importantly, we are also still in touch with why we are doing what we are doing. We have actively chosen our first jobs now, and are more likely to self-select our career paths over time instead of "growing into" a position based on time spent in one company or career field.
All of these qualities are incredible assets to any company or organization, but our ability to put them to good use will depend on the manner in which we present them. The opportunity to be heard is most-often granted to those who have demonstrated that they can also listen.
@Michelle - You rock! Awesome comment.
I cant disagree. You highlighted great trends developing in the market place.
Oh, really? I read all these posts with a lot of amusement. I'm GenX...37, and I know one thing is for sure...you can't change the world by talking about what you are going to do. You change the world by doing it.
I have witnessed too many young folks talkin' a good game and yet they are waiting for someone to "show" them what to do. Action (aka...taking the initiative, being a self-starter) is what changes the world, not optimism.
Can I share a secret with you? It is now August 2009, and the current deep job losses will not subside until 2012-2014 (by many economist's forecasts). Who will suddenly rise up to be the leaders making a real difference in the world.
I can put my hand up, can you?
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