Millennials, also known as Generation Y, are the demographic cohort following Generation X and preceding Generation Z, with 1981-1996 marked as their birth period. Stereotypes say that there’s no hope for the hippie generation, but are we judging them too fast based on a very few sets of individuals who might have created the stereotype?
“Parents have caused Generation Y; because parents were able to provide better opportunities.”
-Tracie Duncan, Senior Director at Adidas.
Are they a set of selfish, uninvolved, unmotivated, pampered narcissists who depend on their parents or a set of individuals who are creative, independent, motivated freethinkers and want to be happy? Well, maybe it depends on our perception.
There are about two billion of the world’s population formed of the Millennials, out of which Generation Y accounts for more than 15% of the global labor force. By 2025, Millennials will comprise three-quarters of the worldwide workforce.
Generation X was in a better position, and hence, the world could provide its next-generation with better windows. This made Generation Y look for faster ways of getting work done because, let’s face it, everything was just a click away, and Google was the universal answer to all their questions. Is that any wrong?
“Everything for Millennials is instant gratification.”
– Tracie Duncan, Senior Director at Adidas
We can’t always erase the mess we created. Is it a mess, or we just need to see things differently and understand things better?
How do we get a Millennial to stay for ten years in the same company?
How do we use a Millennial’s potential to complete an 8-hour job in merely six hours?
How do we bridge the last generation gap?
And how do we find so many answers and practical solutions?
Here’s How!
“We, as leaders, need to change our thinking.”
– Tracie Duncan, Senior Director at Adidas
We cannot ignore the presence of Millennials, but the silver lining is that we don’t need to. Generation Y is just slightly different from Generation X or Generation Z with high potential. All we need is to adapt to their existence and align their capabilities with our needs because it is not for them to fit in; it is for us to stand out. This blog talks about a few characteristics and ways to work with a Millennial but, Tracie Duncan, Credit, A/R, Senior Director at Adidas, has a lot more to offer in the link below.
Recommendations
Transitioning Collection Landscape with Automation
Abstract
Learn how the Collection processes are transitioning across various industries all around the…
2
Emerging Trends Changing B2B Payments In Mid-Sized…
Abstract
The B2B Payments Landscape in Mid-Sized Businesses The survival strategy for most mid-sized…
7 min
7 Best Practices To Ensure Faster Collections
Abstract
Learn about 7 collection strategies that work across industries to maintain an efficient…
2 min
The HighRadius RadiusOne A/R Suite is a complete accounts receivables solution designed for mid-sized businesses to put their order-to-cash on auto-pilot with AI-powered solutions. It leverages automation to fast-track key accounts receivable functions including eInvoicing & Collections, Cash Reconciliation, and Credit Risk Management powered by RadiusOne A/R Apps to improve productivity, maximize working capital, and enable faster cash conversion. Affordable, quick to deploy, and functionality-rich: it is pre-loaded with industry-specific best-practices and ready-to-plug with popular ERPs such as NetSuite and Sage Intacct. The HighRadius RadiusOne A/R Suite is designed to automate labor-intensive processes while streamlining credit and collections activities for faster A/R processing, better cash flow and improved profitability.