With the Young India comprising nearly 31.5 per cent of population in the country,today’s millennial generation is one of the biggest generations in numbers and by 2020,its members will represent one out of every three adults.
Millennials,the generation born after 1985 are those who ardently believe that You Only Live Once (YOLO).
A study was recently conducted by Tata Institute of Social Sciences (TISS) and The Key-Consumer Diagnostics to understand what they think and how they are shaping and being shaped by a fast-paced and radically changing world.
The survey gives us insight into the new generation – a culmination of a quantitative and qualitative analysis – in Mumbai and Delhi over 2 months of 300 male and 200 female.
The survey brings out several key findings,which highlight young India’s outlook on aspects such as life-work balance,life experiences and inclination towards charitable causes. The millennial group is a promising group with positive,group-oriented,can-do ethos,said the survey.
As per the report around 54% of youth will consider a job with less work time and 89% of youth look for flexible timing while opting for a job. The new generation seeks “life-work” balance instead of “work-life” balance.
According to the survey,the new generation has high ideals and a strong commitment to those ideals,values and beliefs… A 24X7 generation who wants to be at their optimal best,anytime,anywhere.
For the millennials,a job is not the end goal,the experience is
Today’s millennial generation is overloaded with information,they have a lot to explore and have a lot of choices. We already knew this. But what emerged new in this study was that millennials believe in exploring all the new opportunities they come across as opportunities fascinate them. They don’t see a job as a beginning of a career but a beginning of a new experience. If they don’t like it there is another one to experience. And that may perhaps be what’s best for them and what they are best suited for they believe in trying to work hard in this journey of experience to ultimately find what they want to pursue in the long run.
For Millennials,a job is a means to an end of a new experience. The experience generation counts the number of experiences as more important as compared to its previous generations for whom experience was counted in number of years of work put in. That is why perhaps they are not able to stick to any job for longer than a few months and rarely does anyone stretch it beyond a year at the beginning of their work life.
Employers read this as poor loyalty but the truth is millennials are signaling through these thumbnail careers,the return of the management trainee system which most employers have summarily dismissed from their training calendars. The good old system of inducting new recruits across all departments of a company is unwittingly being practised by this generation. The survey also highlights that the size of the company is not an important requirement for a potential employer for today’s generation. 76% youth give more weightage to a job with learning opportunities and growth.
Life-work balance is the new mantra,work-life balance is passé
“I work to live,I don’t live to work.” Today’s generation strongly believes in prioritising their personal life compared to their professional life. Though being more motivated to pursue their dreams and goals,they have a different outlook on what they expect from their employment experience.
Being well educated,skilled in technology,self-confident,able to multi-task,they have high expectations for themselves,and prefer to work in teams,rather than as individuals. Millennials seek challenges,yet life work balance is of utmost importance to them. With an approach to live life on their own terms,millennials will not stay in their jobs if they are not satisfied or agree with their bosses or work culture.
As per the report around 54% of youth will consider a job with less work time and 89% of youth look for flexible timing while opting for a job. Millennials seek “life-work” balance instead of “work-life” balance. The new generation believes in living their life to the fullest,pursuing their dreams and passions and focusing more on having a well-balanced life.
It is all about discovery and sharing
Millennials have arrived! With an approach to rethink,redefine and reinvent,they are creating a drastic change in the entire structure. Brought up by helicopter parents,this generation is conditioned to sharing most of their life’s accounts with their parents.
It was their parents who chose to drop the authoritarian parenting they had experienced when they were young. With parents as good as their friends who comment on their facebook updates,there are very few secrets that the millennials keep. If one is seeing someone,the parents,well mostly the mothers,know that. Parents have done their homeworks,their projects and even got them their jobs. Millennials have grown up taking sharing seriously. They share everything with friends and family and even with strangers. And it is not just their money,ideas or time,it could well their life or a part of it. In corporate set ups they jettison ego and are eager team players.
So much so that they expect their employers to help them learn just as their parents did with them. This expectation of helicopter engaging may not go down too well with today’s employers who do feel this generation is too much about ‘show me how it is done’ attitude. But all in all this is a promising group with positive,group-oriented,can-do ethos.
Millennials are large hearted,altruistic,passionate about causes close to their hearts and are actively involved in effecting about large-scale social change.
Almost 51.2% youth across Mumbai and Delhi today express their keenness to work for charitable causes and betterment of society than their parents. They believe that volunteering in the community is highly important and a great way to effect change not just on the local level,but on the global level as well.
With a strong awareness of social issues today’s youth is passionate about bringing about changes and working towards the betterment of society. They would like to be in the system to make the change they wish to see. The Indian Yolos – about 38 % would like to join politics to bring the change they believe in. Intolerant towards injustice,corruption and crime,the generation has taken it upon itself to become extraordinary and effective champions of change.
“Honesty through actions,not words”
Too much of information overload brings with its own challenges. The need to sift good information from bad is high in this generation. And anybody who can do that is worthy of their respect. Knowledge and intelligence hence become interchangeable terms. Millennials are a generation which respects honesty and transparency.
Millennials hate cheaters. Be they in personal relationships or corporate engagement. They feel bad selling false claims of a company so much that they can leave the job for the same. They respect companies that do not short change employees. They disrespect a company that encourages late working,cuts salary when employees are unwell etc.
They have high ideals — and a strong commitment to their values and beliefs,this generation is well suited to tackle the seemingly insurmountable challenges before them. Millennials are an optimistic generation. They tend to believe that they and their children will be successful. About 45 per cent youth feel that economic conditions of the country in next 5 year seem much better.
(The article is based on ‘Life-Work balance keeps the Young India at its BEST! – a survey commissioned by B’lue in association with Tata Institute of Social Sciences (TISS) and The Key – Consumer Diagnostics pvt Ltd)