The Millennial Generation: A New Breed of Labor?
The study by Pyöriä et al puts to the test the notion that younger generations, most
notably the Millennials, value work less than older generations do. They have looked into the
work attitude of millennials as compared to older generation specifically in Finland. Results
of their study do not support the claim, widespread in popular media, that the Millennials and
their distinctive characteristics will be forcing work organizations into radical changes.
For us to have a better understanding, let us first understand who the millennials are.
The Millennial generation who also bear the name Generation Y, the Digital Generation, Net
Generation, Digital Natives, Generation www, Generation E, Echo Boomers, and N-Gens are
those born between the late 1980s and the late 1990s. This cohort has now entered the
workforce and is often characterized by distinct attributes and preferences compared to
previous generations. Kong (2014) stated in his article in PhilStar that never in the history of
human kind that you would see all three generations of people working side by side in the
work place. Boomers (those born between 1946 and 1964) represent a huge segment of our
population, and the Gen Y or Millennials (those born after 1981) represent an even larger
segment with their numbers eclipsing those of the boomers. In between are the Gen X’ers
(those born between 1965 and 1980) and these are the ones prominent in leadership
positions. Some boomers maybe retiring, but the reality is that for the Boomers, 75 is the new
65. In addition to that, we also witness the entry of another generation—the GenZ into the
workforce. Looking at this situation, understanding the different generational mindsets is a
must.
Central to the analysis of workforce is the understanding of the work attitudes of the
Millennials. It is important to examine the work attitudes of Millennials to understand them
as potential managers (Medyanik, 2016). The Millennials’ level of comfort with technology
gives them competitive advantages in a global workforce, shaped and influenced by
technology. They believe that they are entitled to “perks” and “promotions.”
Compared to baby boomers, millennials are more motivated by their ability to make
an impact wherever they work. According to a Global Report survey, 74% of millennial job
candidates want a job where they feel like their work matters. Furthermore, The Hartford
Millennial Leadership Survey (Hartford, 2015) reveals that Millennials aspire to be leaders and
want to be developed as leaders. The study also reveals that 60% of aspiring millennial leaders
wanted to inspire their followers through a sense of purpose and excitement that can be
aligned with the transformational leadership style. Although they recognize a lack of
experience and skills, 53% of Millennials are willing to learn from mentors to further develop
their personal and professional careers (Morgan, 2015). Study shows that Millennials will
have a more democratic approach to leadership and will more likely to use a participative,
shared leadership style (Medyanik, 2016).
With regard to work commitment, it is thought that they are less committed than
older wage earners to one single employer, and that they place more value on opportunities
for personal growth and development than on lifelong employment (Broadbridge, Maxwell,
& Ogden, 2007). In connection with this, Lee-chua of the Board of Directors of Ateneo de
Manila University, in contrast to millennials, she wrote that Veterans and Baby Boomers
might have started out idealistic, but because of turbulent times, security, stability and
prosperity have become important for them. They thrive in familiar environments and value
routine. They are goal-oriented and are loyal to the company, expecting in return that the
latter will provide for their retirement and old age. With this in mind, we can say that one’s
social context has also an impact on our work ethics. Due to the socioeconomic environment
they grew up in, members of each generation have their particular characteristics, both
positive and negative, which influence their life perspectives, work ethics, attitudes towards
business and money.
In conclusion, understanding and accepting generational differences and maximizing
the strengths of each generation will bring in valuable results to organizational harmony.
Management failure to address work value differences and stereotypes may result in low
organizational morale, higher turnover rates, and reduced profits. By embracing flexible work
arrangements, fostering an inclusive and innovative culture, and leveraging technology,
employers can effectively attract, retain, and engage younger employees, driving
organizational success in the evolving labor market.
References
Alcantara, G. M., et al., (2020). How Do Millennial Managers Lead Older Employees? The
Philippine Workplace Experience. Sage Open, 10(1).
https://doi.org/10.1177/2158244020914651
Bresman & Rao (2017). A Survey of 19 Countries Shows How Generations X, Y, and Z Are—
and Aren’t—Different. Harvard Business Review. Retrieved from
https://hbr.org/2017/08/a-survey-of-19-countries-shows-how-generations-x-y-andz-are-and-arent-different
Lee-Chua, Q. (2015). Generations: Working with Baby Boomers (Part 1). Inquirer.Net.
Retrieved from https://business.inquirer.net/184335/generations-working-withbaby-boomers-part-1
Taylor, Stephanie (2019). 5 Major differences between the lives of millennials and baby
boomers. Business Insider. Retrieved from
https://www.businessinsider.com/difference-millennials-baby-boomers-2019-4