This year, most individuals have been scrambling to hold onto success and security while many of society’s great institutions have been faltering in plain view: corporations, churches, government, Martha Stewart… and the list goes on. The message is coming through loud and clear: "You cannot rely on established institutions. So you had better be able to take care of yourself."
Perhaps individuals with age and experience are interpreting this in the larger context of cyclical ups and downs. But how is the failure of institutions being interpreted by those who are just now coming of age? For Generation Y (currently between the ages of 16 and 24), there is an emerging sense of profound disappointment that is likely to have far-reaching consequences.
Thus far, Generation Y has been characterized by great optimism and hope for the future, unlike their fiercely independent and skeptical Gen X older siblings:
- Gen Yers are eager to play meaningful roles in meaningful work that helps others. They want to work in organizations that are full of integrity. They want to make a living by making a difference.
- Gen Yers want to collaborate with highly motivated people in dedicated communities of shared purpose. They want to work closely with and learn from energized colleagues whom they respect.
- Gen Yers have lofty professional, personal, and financial goals and fully expect to meet them. They want to work in meritocratic organizations where their time and energy will be rewarded.
Growing up in the economic boom of the 90s, Gen Yers generally have expressed high expectations for fulfilling their ambitions by investing their time, energy, and money in long-term (albeit fluid and flexible) relationships with established institutions. But the public breakdown of institutions is coming at exactly the wrong time for Generation Y.
Just as Gen Yers are beginning their adult lives and testing the waters of the real world, suddenly there appear to be no safe harbors. It's turning out--sadly--that those skeptical Gen Xers may have had it right all along: "Expect little from institutions. Whenever you have the chance, squeeze every last drop of value out of them. You owe them no loyalty because they will show you no loyalty in return." Let's hope this lesson doesn't sink in for Generation Y.
Reach out to Generation Y before it's too late: Clarify your mission. Give your young workers opportunities to make tangible contributions to that mission. Spread the word that you are committed to all of your organization's constituencies. And don't make promises you can't keep.
