Millennials Take Recession in Stride ('Outside the Cube' blog)

It is no secret that the economic state in the United States and all over the globe is a gloomy one at best. And with mixed outlooks for the future state, it is a wonder anyone could be the least bit optimistic. 

Seasoned generations have weathered economic cycles in the past. They've dealt with bad times and understand the detrimental effects that an unstable market can have on business. 

Millennials, on the other hand, are not as phased by the economic state. And that fact, among others is proving to be extremely useful at a time like this. 

Pepsi recently commissioned a survey of 2000 young Americans between the age of 19 and 29 and questioned them on their outlook of the future. The results were, well, optimistic to saty the least. Despite recent job forecasts, 77% of Millennials reported a strong sense of optimism about their careers. 

Four out of five Millennials are hopeful about the future and more than 95% of all surveyed feel it is important to maintain a positive outlook on life.  

The results of this survey have been a factor in Pepsi’s rebranding of their image, as well as their current marketing campaign focused on a feeling of hope and optimism for the future. 

Older generations first saw Millennials in the workplace to be somewhat inexperienced, a bit naieve and carrying a sense of “invincibility.” But those characteristics, coupled with an inherent technological understanding is NOW enabling Millennials to navigate and troubleshoot problems innovatively and creatively without any inhibition regarding the current economic state ... and in the process, saving companies some much needed cash. 

Take as an example, consumer-electronics retailer, Best Buy. They were in need of a new employee portal. After contacting an external consultant, they were quoted a price over several million dollars. The word was put out, and a group of young Best Buy employees put together a small squad of developers from their own networks. They produced the needed portal for just under $250,000. Another Millennial employee threw together a mobile-phone version of Best Buy’s website just for fun in about a week during his spare time. 

Granted, this is just one company’s experience, but it easily exemplifies the true measure of impact and tangible value that Millenial optimism, backed up by an inherent skill set and abilities, can produce for their employers.

Posted by Wally Koval
w.koval@abmmail.com