Generation Y Shellshocked After First Taste of a Recession
July 18th, 2008Up until recently, they’ve never experienced a down economy, and have always been on the demand side of the labor market. But skyrocketing gas prices and the mortgage crisis have rocked more than our national economy; they’ve rocked the optimistic spirits of Generation Why as reported in this recent article in the The New York Daily News.
Traditionalists, Baby Boomers, and Gen X’ers have each fought through turbulent economic cycles and have been forced to learn how to survive on less money and fewer jobs. How Gen Why responds to this economic slump remains to be seen, but they are undoubtedly going to be tested in the coming months, and maybe years.
There silver lining might come in the form of a stronger work ethic in the emerging workforce as teens and young adults will have to fight harder to find–and keep a job. These kinds of struggles are known to reshape a generation’s outlook on jobs, work, and careers.
While some employers have already abandoned the ‘I’ll bend over backwards to keep you happy’ style of management and reverted back to their ‘my way or the highway’ methods, smarter employers will not take advantage of their front liners. Instead, they’ll leverage these slower periods to train and engage young employees and build stronger relationships that will last long after the current economic storm has passed.
