WorldWide Drilling Resource

26 SEPTEMBER 2015 WorldWide Drilling Resource ® Last month, we raised some questions and discussed emerging research about Generation Y (Millennials), which is currently 11-30 years old. Of course, everyone is different; but overall, those within a specific gen- eration often share many of the same characteristics. This month, we’ll continue the conversation about Generation Y with a few more interesting insights about this rising group of young workers and consumers which out- numbers the Baby Boomer generation by over one million people. If you’ve been around a child for any period of time lately, you’ve probably noticed how quickly they learn to navigate new technology. It’s astonishing, if not a bit scary, imagining how the future will continue to unfold. Millennials are the bridge to this future. They’re just now entering the workplace and still feeling their way around; but ten short years from now, they’ll make up 75% of the global workforce. The time to get to know Y is now. Compared to previous generations, Millennials have an entirely unique set of needs, values, and interests. Here are some things you should know about Y: With their social networking skills and experience with real-time technologies, Millennial employees could be invaluable to any business. Unfortunately, two years is the current employment tenure for Generation Y workers. With all the potential good qualities of today’s youth, getting them to stick around could be the ticket for taking your business to new heights. Join us next month for the conclusion to our Generation Y series when we’ll explore ways your company can further connect with Y. Getting to Know Y Compiled by Amy White, Associate Editor, WorldWide Drilling Resource ® “Blessed are the young, for they shall inherit the national debt.” Herbert Hoover k They’re different from you. Millennials are the most diverse generation in U.S. history with minorities making up 43% of the group. For the most part, Generation Y embraces and expects racial diversity on the on the job. k They’re loyal to people. Though Millennials have fewer attach- ments to traditional political and religious institutions, they are closely connected to personalized networks of friends and col- leagues. k They don’t necessarily trust you. In a study by the Pew Research Center, only 19% of Millennials said they believe most people can be trusted. k They expect things instantly. Young job seekers not only understand and embrace the instant pace of communication today, as “digital natives”, they don’t know anything different. k They’re driven by a desire to make a difference. In fact, 61% said they feel personally responsible to make a difference in the world; and a whopping 92% believes business success should be measured by more than profit. k They’re optimistic about the future. More than eight in ten Millennials say they either have enough money to lead the lives they want now, or expect to in the future.