First was the G.I Generation, next, the "Silent" Generation, followed by the well-known Baby Boomers and the problematic Generation X. Lastly, came today’s discussion topic, Generation Y, also known as the Millennials.
Born between 1977 and 1995, the Millennial generation was the first generation to grow up with the internet and mobile phones. Millennials easily understand the subtleties of the industry in a way other generations cannot, they are adaptive to new time-saving technologies, and indeed they’re the early adopters to our society's addiction to social media and mobile devices.
What Millennials lack in years of experience, they more than make up for in passion, ambition and natural savviness for technology. These powerful traits often give this generation a strong drive towards entrepreneurship, take the following as a few examples: Kevin Systrom born in 1983 (Instagram), Mark Zuckerberg born in 1984 (Facebook), and Evan Spiegel born in 1990 (Snapchat).
The unpredictable changes in the economy and the job-market have triggered Millennials to become flexible and resourceful individuals. Today, we see how this generation strives to be in control of the many aspects of their life and continues to build their own empire.
Stuck On the Entry-Level Carrousel
Millennials often struggle to enter the job market with the collapsing economy, and find themselves working in the service and retail industries to pay off their student loans and cover their cost of living. Those who actively pursue their professions in their field face competition from experienced Generation X candidates.
A few Millennials do land a job in their career field shortly after graduation. It’s rare for them to stay at these jobs longer than a year, due to the overqualification they feel towards the role and undervaluation perceived from their employer. This has resulted in many Millennials being stuck in this frenzy of hopping from one entry-level job to another.
Ambition for New Opportunities
Many employers overlook millennials for their lack of commitment, but what they may be forgetting is that millennials strive for experiences and have a great can-do personality. Their drive for adventure makes millennials excellent learners, which is why they’re adaptive to working in various industries.
In 2015, Forbes described Millennials as…
Millennials fit into the role of a self-starter easily for a number of reasons; we’re digital natives, with heady career dreams and a job market that has taught us to think outside the box — because we might not be hired within it very quickly.
They want flexibility and a work-life balance
Millennials, like everyone else, are seeking professional and personal freedom. They want to excel in their professional careers, while still maintaining and exploring their creative minds. Although, employers may find challenging to give autonomy to new hires, being the passionate individuals they are, Millennials will push themselves once the find a job they love.
If you are a Millennial or you think you have a Millennial’s ambition, thirst for flexibility and work-life balance ideals, maybe entrepreneurship is also right for you. Don’t know if you have what it takes? Consider taking our entrepreneur personality quiz to determine if you have what it takes to be your own boss.