I have been meaning to write this post for a long time, so I’m so happy to finally share my thoughts with you.  As you know, the Generation Y are those born somewhere after 1982 (according to wikipedia) and the early 90′s.  We are an often talked about bunch, probably because we are the child by-product of the baby boomer generation.

Generation Y Generalizations

Other people in the workplace view Generation Y as the super speedy multi-tasking generation. We are good with technology, type at warp speeds, and are often seen multi-tasking. In fact, at my workplace, one of my baby boomer colleagues calls me “Matrix” because she thinks I type so fast.

Generation Y is often labeled as “lazy” too, because we give off the impression that we want to get paid top dollar while at the same time doing as little work as possible. We want to rise in the work place as fast as possible. We are skipping from job to job to job, often lasting at a workplace for only abut 1-2 years before we move up the ranks to another job. This is in contrast to the baby boomer generation, where they moved their way up slowly after a time span of 20+ years to get where they are at now.

Generation Y also are an entrepreneurial bunch.  I think this stems from wanting to live a life where we aren’t in the rat race for 30+ years.  Generation Y are the geniuses behind many start up internet companies, let alone start up companies in general.  We tend to live and breathe instant gratification, which is probably why we aren’t saving any money.

The Problem

Because Generation Y employees are seen as lazy and wanting to get everything for nothing, I think there can be a lot of resentment from the other generations (baby boomers, generation X to name a few) towards us.  They have worked hard for YEARS to get where they are at now, and here we are, jumping in with unbridled enthusiasm and doing their job better than them.  I think Generation Y has a lot going for us- we are ambitious, determined, great at multi-tasking.  However, we have short attention spans (thanks to being used to doing homework with the television and music on simultaneously) and get bored easily.  We need to change the way other people in the workplace view us, show them that they are pigeonholing us into a category unfairly.

So, now that we know what Generaion Y is like, this begs the question- how do we co-exist harmoniously in our workplace?

How to Co-Exist Harmoniously with your Non-Generation Y Colleagues

Don’t be afraid to show appreciation

I admit that sometimes, I feel that I “know more” even though I don’t, and I often have a difficult time accepting criticism.  I’m not sure if this is a Generation Y thing (I think it seems to be) or if this is my own problem.  I think if Generation Y were to handle criticism better, we would all get along much more harmoniously in the workplace.

Next time a colleague gives you feedback, accept it and thank them for pointing it out to you.  Show appreciation for their wisdom and their many years of experience before you.  Show humility.  This goes a long way.

Be Eager

Eagerness never would be taken the wrong way in the workplace.  It’s a positive attribute.  Being eager with a member of the opposite sex in terms of relationships, on the other hand, is a whole different story.

Arrive early or at least be punctual.  Stay later if you have work to catch up on.  It shows that you care about your work and can give a positive image to your colleagues.  At least do this for the first 6 months at your new job, and people will appreciate your dedication to the company and your determination to work hard.

Leave the Social Media stuff for After Work

I know that we live, breath, eat, sleep social media what with twitter, facebook, email and our smart phones, but when you’re at work and people are walking by your cubicle looking at your screen, you don’t want to give the impression that you’re doing this all the time.  I know it’s hard, but if you want to succeed in the workplace and have people respect you, you have to respect your workplace and ignore all the hyperconnectivity until after work… if that can’t be done, at least hide somewhere where people can’t see you and check your facebook, twitter, and email!

Show Respect to your Elders

I think this is very important.  Appreciate and value our elders (basically anyone older than us!) for what they have done for the company before we arrived.  Show that you admire their thoughts, feelings, and work ethic.  One of the most important things is to listen.  I know that Generation Y has the tendency to voice their opinions easily and openly, though we must show mutual respect and listen to others viewpoints as well.

I hope these ideas can help you live a positive, fulfilling work-life.  We do spend the majority of our time at work, so might as well attempt to make it satisfying and rewarding!

Readers, do you have any suggestions on what else might work for Generation Y?  It would be interesting to get both a Generation Y (or even Millenial!) perspective and non-Generation Y perspective (Gen X, baby boomers).

Related posts:

1. Forget about Generation Y, Are we Generation F?
2. Why isn’t Generation Y saving any money?
3. Generation Y and Leadership

I was checking this post by Studenomics that talked about why Twenty Somethings are not saving money and being of the same generation Y/ 20 something category, I got to thinking…

In the past, Canadians have traditionally saved about 10% of their gross income and stashed it away in their piggy banks. Currently, the savings rate is about 0% (or with a net negative percentage). In China, it’s 30%. For some reason, we are not saving money any more!

Really, why AREN’T we 20-somethings saving money? Why IS there a disparity between the savings of Generation X and Generation Y?

I personally have a few hypotheses myself.

Other than the ones mentioned by Studenomics, here are some reasons why I think we are so broke.

I think that one of the main reasons we (we being a generalized term) aren’t saving money is because we are so used to:

• Instant Gratification

Our parents are the baby boomers. They worked really hard to secure the financial security that they have now.  They worked hard to make sure we grew up well and had everything that we wanted or needed (or even not needed!), because when they grew up, they didn’t have anything.  I remember when I was a teenager, I would whine for that $80 pair of jeans to be just like the rest of the “cool crowd”. Our parents spoiled us, really.  What we want, we got.  So that brings us to now, where we still have the mindset of what we want, we get.  Even if that means charging that $300 pair of Rock and Republic Jeans to your card when you have $100 left in your bank account.  Or leasing that expensive sports car when you really can’t afford it.  We live in a society now where you have to flash your cash in material goods.  Or else people think you’re a nobody.

We grew up with television, we grew up with technology, we grew up with computers.   We grew up with images of celebrities and rock stars who have everything.  Louis Vuitton bags, iPhones, $250+ jeans, BMW’s, Mercedes… this is the norm everywhere I go- at least for Vancouver, anyway!  We are programmed to think that we need  and deserve these items to be happy.

The other reason I think we aren’t saving money is because of the use of:

• Credit Card/ Debit Cards

Like Studenomics said, we live in a society now in which we pay for everything by card.  It’s really easy to lose track of how much you’re spending.  I was checking out my credit card statement, and feeling quite proud of myself as I hadn’t had any big purchases on my credit card bill (YET- I haven’t gone Christmas shopping yet) but the bill still added up to $450 because I was purchasing $20 here and there.  Little things really do add up.

That isn’t to say that I would start paying for everything by cash… I love charging things on my credit card because I get points from it!  I guess the main thing to remember is to go over your statements, you have to be AWARE of what you are spending your hard earned money on.  Don’t get trapped into credit card debt- yet sadly we are! According to a recent statistic, the average 18-34 year old has $8200 in credit card debt.

Speaking of debt…

• Student Loans

Generation Y is  super-educated.  We have bachelor’s degrees, master’s degrees, doctorate degrees… MBA’s (phew, that degree can certainly knock a dent in your pocketbook).  We also have super-student loan debt too!  According to a recent statistic, the average student loan debt is $20,000.  We are pretty lucky here in Canada where we don’t have to pay $40,000 a year for school.  Back then, there wasn’t so much emphasis based on post-secondary education, you could succeed without a university degree or further education.  The story’s different now- I know some people graduating from University of British Columbia (kind of an Ivy League school in Canada) with a degree are SOL- some working in retail still because it’s so hard to find a job.  So we end up with high debts and a low paying job.  It sucks.

• Banks are to Blame!

Well, maybe.  (Haha, that’s another trait of Generation Y, we like to blame things on others, but that’s another story).  Back then, you had to have 25% down to buy a house.  Now it’s all different, there’s so many options to choose from.  Nowadays, the banks can lend you a mortgage for 5% down and do a 35 year mortgage even!  This means higher monthly payments and higher interest, and less money in your pocket in the long run, but I guess we don’t really realize it.

don't let this be you, generation Y!

What do you think?  Are there any other reasons out there that us 20 somethings aren’t saving any money other than the ones Studenomics and I mentioned?

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