August 11, 2016

Northwest FCS News

Whether it’s my travels, a panel question or a scenario I observe, my inspiration for articles comes from many places. In this case, inspiration came from another great debate I had with one of my business partners at the dairy creamery. We often have fun sparring on various issues and this time our topic was the Millennial Generation. His contention was that the differences observed regarding this younger generation are over-hyped, largely exaggerated and mostly, a myth. Well, let’s examine this generation of individuals 18 to 34 years of age.

Numbering 80 million Americans, the Millennial Generation is now a larger demographic than the Baby Boomers. They will be one-half of the workforce by the end of the decade and 75 percent by 2025. Millennials may be similar to previous generations but their path through life will be very different. The Baby Boomers and Gen Xers took more linearly structured paths that occasionally deviated from the rigid route of the previous Veteran Generation. Yes, there were protests as well as large social change, but eventually conformity occurred, especially as age progressed.

The life of a Millennial is influenced greatly by technology and the boom of the Information Age. To put this aspect of their lives in perspective, consider that from the beginning of time to 1900 the amount of information created was the equivalent of one inch in height. From 1900 to 1950, the information measured was an entire yardstick in height. From 1950 to the present, the information is equivalent to the height of the Washington Monument. The Millennial society is inundated with complicated, complex and fragmented information that reinforces an attention span of approximately eight seconds.

This demographic enjoys urban living, often in apartments that may not even have a stove. Of course, they also enjoy buying experiences. Millennials seek a good balance between work and life as well as the opportunity to make a difference in the world around them.

However, at the end of the day, I may agree with my business partner, at least somewhat. I do expect that later in life members of the Millennial Generation will also conform. Like previous generations, they want to be treated with respect for their individuality and not assigned to any one stereotype. Similar to the older generation, they want a sense of meaning along with the opportunity to make an impact. However, the difference is they want feedback, productive tasks and recognition for their beneficial impact.

Work and business cultures that adapt to this generation and integrate them with the more experienced generations will retain highly productive individuals. In agriculture, I see tremendous potential for the Millennial Generation as well as the change they can bring. As a generation, Millennials do have specific tendencies and talents that need to be recognized. However, as individuals, this young generation is not so different from the rest of us. Regardless of their differences or similarities, the Millennial Generation has the energy, intelligence and desire to really make a mark on our world.

P.S. If you would like more on my message for the Millennial Generation, go to the recent Northwest Farm Credit Services quarterly review, The Millenial Mindset.