From being part of the BTS Army to getting nostalgic about Backstreet Boys, millennials are a diverse cohort, and have many sub-segments. Based on the recent CAMS report, ET Now gave me an opportunity to chat about the investing patterns of millennials.
The transcript.
The dynamics of ‘work’ have been changing for a while now, so much that when I think about writing on the subject, my thinking almost seems outdated! Not surprising, GigaOm’s post from a year ago – How the great generational shift is causing transformation in the very nature of employment – shows as many as six generations active in the workforce these days! Each of them with different world views, attitudes, priorities and approaches to work. But given that I’m trading one demographic number for another in a couple of days, I thought it an appropriate time to share a few observations based on my recent experiences. Since I had written earlier on the challenges faced by my generation in The Future of Work and The Entrepreneur & the Professional, this post focuses on a younger workforce. Millennials, if you are into labels.
The first two points set the context. I mention these two because I think they have a direct link to the worldview, attitudes and behaviours of the emerging workforce towards work, and their life in general. They serve as the backdrop for me to observe the 15+ people I have managed in the last 4-5 years. (more…)
IMO, Season 4 of Mad Men really took it up a notch. I think it’s because the human condition started showing up much more than before. Episode 6 – Waldorf Stories – offers quite the example. <spoilers> To quickly give context to the non viewers, a flashback shows how Don Draper, the show’s lead character and a fur coat salesman then, was hired by an inebriated Roger Sterling (partner at an ad agency) years ago. Don rises right to the top, becoming a partner at the new agency that Sterling, and others form. When the agency wins its first award, Roger feels entitled to an acknowledgement from Don. When he doesn’t get it, he asks for it. Later, in the same episode, Peggy, whom Don ‘raises’ from secretary to copywriter, also feels entitled to Don’s acknowledgment of her contribution to the award winning ad. In the first instance, Don is gracious and acknowledges Roger’s hand in making him what he is, but in the second, he is furious at Peggy.
It made me think of entitlement. I have read many an article about the millennial generation’s sense of entitlement, but maybe it’s not a generational thing at all. Maybe, it’s just that this generation expresses it more than others, and this is being documented much more courtesy the web. A point of difference is probably what is being asked for – opportunity (millennials) and acknowledgment. (earlier generations) (more…)