The Trophy Kids Grow Up E-Book

Ron Alsop

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2008

Beschreibung

The first wave of the Millennial Generation—born between 1980 and 2001—is entering the work force, and employers are facing some of the biggest management challenges they’ve ever encountered. They are trying to integrate the most demanding and most coddled generation in history into a workplace shaped by the driven baby-boom generation. Like them or not, the millennials are America future work force. They are actually a larger group than the boomers—92 million vs. 78 million.

The millennials are truly trophy kids, the pride and joy of their parents who remain closely connected even as their children head off to college and enter the work force. Millennials are a complex generation, with some conflicting characteristics. Although they’re hard working and achievement oriented, most millennials don’t excel at leadership and independent problem solving. They want the freedom and flexibility of a virtual office, but they also want rules and responsibilities to be spelled out explicitly. “It’s all about me,” might seem to be the mantra of this demanding bunch of young people, yet they also tend to be very civic-minded and philanthropic.

This book will let readers meet the millennials and learn how this remarkable generation promises to stir up the workplace and perhaps the world. It provides a rich portrait of the millennials, told through the eyes of millennials themselves and from the perspectives of their parents, educators, psychologists, recruiters, and corporate managers. Clearly, the millennials represent a new breed of student, worker, and global citizen, and this book explores in depth their most salient attributes, particularly as they are playing out in the workplace. It also describes how companies are changing tactics to recruit millennials in the Internet age and looks at some of this generation’s dream jobs.

Leseprobe

Table of Contents

Title Page

Copyright Page

Dedication

Preface

Chapter 1 - The Trophy Kids

A MILLENNIAL PORTRAIT

A DARKER SIDE

BENETTON GENERATION

MILLENNIALS AROUND THE GLOBE

Chapter 2 - Great Expectations

MERITOCRACY FOR MILLENNIALS

MOBILE MILLENNIALS

MANAGING EXPECTATIONS

GENERATIONAL COUNSELING

Chapter 3 - Apron Strings

MEET THE PARENTS

THE PSYCHOLOGY OF HELICOPTER PARENTS

CLOSE ENCOUNTERS WITH HELICOPTER PARENTS

GOOD INTENTIONS

BREAKING AWAY

TEDDY BEARS FOR THE EMPTY NEST

Chapter 4 - Take Your Parents to Work

SETTING LIMITS—ON THE PARENTS

REACHING OUT TO PARENTS

A HELICOPTER MISSION FAILURE

Chapter 5 - How Am I Doing?

SINGING THEIR PRAISES

HANDLE WITH CARE

MENTORING THE MILLENNIALS

Chapter 6 - Checklist Kids

PROGRAMMED LIVES

BOSSES OR BABYSITTERS?

A SCARED GENERATION

TOO MUCH TEAMWORK

GETTING COMFORTABLE WITH THE GRAY

AMBIGUITY 101

Chapter 7 - Master Jugglers

INTERACTIVE INSTRUCTION

MOVING AT THEIR OWN SPEED

CORPORATE CONNECTIONS

NO PRIVACY

THE INTERNET GENERATION’S DISCONNECTIONS

Chapter 8 - Free to Be Me

FLEXIBLE FIRMS

CAVEAT EMPTOR

ZIGZAGGING CAREERS

EXPRESS YOURSELF

ARE WE HAVING FUN YET?

Chapter 9 - Recruiting in Cyberspace

SOCIAL NETWORKING

CORPORATE CAREER SITES

MOVIES AND GAMES

CASTING A WIDER NET

THE PERSONAL TOUCH

TARGETING PRE-COLLEGE TEENS

Chapter 10 - Dream Jobs

CONSULTING TRADE-OFFS

VENTURING OUT ON THEIR OWN

Chapter 11 - A Generous Generation

CHARITY BEGINS—IN COLLEGE

THE GREENING OF RECRUITING

TIME TO TEACH

THE SOCIAL ENTREPRENEUR

About the Author

Index

Copyright © 2008 by Ron Alsop

Published by Jossey-Bass A Wiley Imprint 989 Market Street, San Francisco, CA 94103-1741—www.josseybass.com

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Library of Congress Cataloging-in-Publication Data Alsop, Ronald. The trophy kids grow up : how the millennial generation is shaking up the workplace / Ron Alsop. p. cm. Includes index.

eISBN : 978-0-470-44728-4

To Matthew, my millennial generation son

Preface

“Here come the millennials—the next big wave of M.B.A. students.”

That was the opening sentence of a column I wrote in 2006 for The Wall Street Journal about business schools bracing for the imminent arrival of the millennial generation. It wasn’t long before I realized that I had really touched a nerve. As soon as the article appeared in print and online, the e-mails and phone calls began, and they didn’t stop for days. I heard from millennials, their parents, corporate recruiters and managers, even retirees who didn’t like the sound of these confident, demanding youngsters. Many people agreed with the points in my article, but there were a few dissenters who didn’t appreciate some of the criticism of millennials. What struck me most, however, was the passion in many of the messages.

A mother in California described her children as “over-achieving, scared, and exhausted” after surviving the brutal college admissions process. “I can attest to the sense that these top students have of never being good enough; what they do have, as far as attitude goes, is resentment,” she wrote in her e-mail. “They are definitely not a humble group having worked so darned hard to get into these top schools.”

I realized that there was much more to explore as this generation continues to move into colleges and the workplace. It was clear to me that the millennials will remain of keen interest because of the many notable differences in their expectations, skills, and attitudes.

The result of my journalistic exploration is The Trophy Kids Grow Up, a look at how the millennial generation is shaking up colleges and, in particular, the workplace. I interviewed dozens of millennials, parents, professors, college admissions and career services directors, and corporate recruiters and managers, as well as drew information from various surveys of young people and employers.

Generational researchers variously categorize and label the young people born in the 1980s and 1990s as millennials, generation Y, and generation next. The NetGeneration and the iGeneration also are popular monikers because young people are so technology oriented and always connected to an iPod or other digital device. Some researchers and consultants have set different beginning and ending dates for this generation, but most agree on many of its defining traits.

Generation Y remains a popular term, but in this book, I will primarily use millennials, a label popularized by the generational experts Neil Howe and William Strauss and one that many young people seem to prefer.

In Chapter One, I provide a portrait of the trophy kids and highlight both their strengths and foibles. Subsequent chapters describe in greater detail the millennial generation’s most salient attributes, particularly as they are playing out in the workplace. I also show how companies are changing tactics to recruit millennials in the Internet age, and I take a look at some of this generation’s dream jobs.

Because parents are so central to the lives of the millennials, I decided to devote two chapters to their relationships with their children and the “helicopter parent” phenomenon that is rattling colleges and employers. In fact, the title of this book is based on the fact that many proud, protective parents view their accomplished millennial children as their “trophy kids.”

In my research, I found the millennials frequently written off as narcissistic, arrogant, and fickle. Although there is certainly some truth in such negative perceptions, the millennials also can be quite impressive in their ambitions and achievements. They are a generation of conflicting characteristics—self-absorbed but also civic minded, for instance. Keep in mind, however, that the traits ascribed to the millennials certainly don’t apply to every member of that generation. They are common but not universal attributes.

My own reporting experiences brought home to me some of the millennial generation’s tendencies. When I tried to contact a college student via e-mail, for example, there was no response for days. But she replied within minutes when contacted on Facebook. Clearly, e-mail is fine for baby boomers like me, but not for this social networking, instant messaging generation. I also observed the generation’s job-hopping behavior firsthand. When I tried to contact a couple of millennials for follow-up questions a few months after the initial interviews, they had already left their employers.

There’s still much uncertainty about how the millennials and employers will adapt to one another. Will millennials mature into strong leaders who can give direction rather than depend on others for guidance? Will companies evolve to meet the millennials’ demands for work-life balance? And will millennials stay true to their professed desire to help fix some of the world’s most pressing problems, from poverty to global warming? Only time will tell, but the millennials clearly represent a new breed of student, worker, and global citizen.

This book focuses on some of the colleges, companies, and other organizations that are taking the lead in understanding and reaching out to the millennials. I spent extensive time with some of the major student recruiters, particularly management consulting, accounting, and investment banking firms. Their experiences in recruiting and managing millennials will provide valuable lessons for other companies about what to expect in their new hires and how they may have to adapt to them. Employers clearly cannot afford to ignore millennials because of the imminent need for talent to replace retiring baby boomers. If companies don’t take notice of the striking differences of this generation and prepare to deal with them, they are sure to lose the battle for the best talent.

I also hope that millennials and their parents find the book enlightening. It will help them see how the world perceives this generation and discover which employers are most millennial-friendly. Millennials also will learn that they will probably have to adjust their expectations if they hope to make the most of their talents and realize their personal and professional dreams.

Finally, I thank the many corporate managers and university officials who generously shared their insights; my thanks also go to the millennials and parents whom I interviewed. Their personal stories serve as a mirror on this generation’s attitudes and aspirations. I was pleasantly surprised by the openness of the millennials I met; their honesty is truly refreshing in our cynical world.

I also acknowledge Kathe Sweeney, my editor at Jossey-Bass, and Roe D’Angelo, a longtime colleague at The Wall Street Journal, who have been enthusiastic supporters of my book. My friend Bruce Brown deserves special thanks for his many insights and his encouragement. And I express my appreciation to my own millennial son, Matthew, an accomplished young man who has high expectations and makes me very proud, and to his mother, Marybeth, who, like me, wants to give him the very best in life but also to avoid becoming an overly protective helicopter parent.

Now, meet the millennials and learn how this remarkable generation promises to stir up the workplace and perhaps the world.

Summit, New Jersey July 2008 Ron Alsop

1

The Trophy Kids

Larissa Kravanja always believed she could achieve whatever she put her mind to. So far, she hasn’t disappointed herself.

The University of Virginia graduate, now in her mid-20s, has been ascending the corporate ladder at Merrill Lynch & Co. and looking forward to eventually attending one of America’s top law schools. An admittedly obsessive list maker, Kravanja continually sets new objectives for herself. Soon after her college graduation, she made a list of goals she hoped to reach by age 25, including running two half marathons, taking the entrance exams for graduate school and law school, getting promoted at Merrill Lynch, and moving from Brooklyn to Manhattan. She achieved all of them, but just barely; her move to Manhattan took place less than a month before her 25th birthday in 2008. She also reached a significant milestone not on her list: living with her boyfriend.

Kravanja’s to-do list for the next five years is still taking shape, but it already includes starting law school, figuring out her subsequent career plans, embracing a less stressful “day-by-day approach” to life, and learning to cook. “I sometimes get shocked looks from my older colleagues at Merrill when I talk openly about getting ready to go to law school,” she says. “They think I must hate what I’m doing now, but that’s not the case. I just believe in planning ahead.”

Kravanja embodies many of the characteristics of the millennial generation born between 1980 and 2001. Like a quintessential millennial, Kravanja counts both career achievements and community service among her top priorities in life. In fact, she had expected to join a nonprofit organization after college, despite two summer internships at Merrill Lynch as an analyst in the retirement and insurance groups. But she was lured back to Merrill by a full-time job in the multicultural marketing group. She soon was promoted to assistant vice president for global diversity and inclusion, overseeing the brokerage and investment banking firm’s “professional network” groups for minorities and women. “Now, my whole day job is giving back to our employees,” she says. In addition, she does volunteer work for the organization Upwardly Global, mentoring highly skilled immigrants on job-search strategies.