Introducing the Parennials – Millennial Parents

The first-wave of Millennials—those born in the 1980s and early 1990s—are becoming parents, and like all generations they are putting their own mark on raising children. In this age of generational label overkill, they even have been given their own name: Parennials.

As these Parennials transition to adulthood, they bring with them a brand new style of parenting that reflects their priorities in work/life balance that will affect employers for the next couple of decades.

And there are lots of them—already, more than 16 million Millennial women have children, and the number is growing by 1 million a year, according to Pew. Because they are having children later in life than previous generations—when their career is more established, they may have a better idea of what they want in life, and what they want in work.

If you are an employer of these Parennials, you will want to readjust your programs and resources to reflect their needs as new parents. Here are a few ways employers can do that:

Work to keep childcare stress at bay. An increasing number of workplaces are offering on-site childcare or setting policies that are childcare-friendly. If on-site daycare isn’t possible, offering pre-tax childcare savings or flex spending accounts (FSAs) and financial counseling as parents adjust to the reality of new expenses can help increase corporate loyalty among Parennials.

Set parent-friendly policies and schedules. Harvard Business Review reported, “Some organizations have implemented a policy that no meetings will start prior to 9:30 a.m. or end later than 4:30 p.m. This simple move cuts down on the anxiety surrounding timely daycare pick-up and drop-off, and the expense related to daycare overtime charges. When parents aren’t worried about running late, they can keep their mental energies focused on the business.”

In addition, offering perks such as closing the office early on Halloween, offering job shares (two people work 20 hours per week each) or providing paid time off for parent-teacher conferences and school functions can go a long way.

Invest more in telecommuting and remote communications. Flexibility around how, when and where work is done can all help keep Parennials engaged and productive. Some companies have found that investing in teleconferencing technology can help allow for schedule and work location flexibility while keeping co-workers connected to and engaged in the workplace.

Some Millennial and Generation X entrepreneurs are responding to these specific flexibility needs by creating professional co-working spaces attached to daycare centers or playrooms, such as Play, Work or Dash in Northern Virginia.

Set up workplace parent support groups. A new take on mentoring programs at work are parenting support groups. Millennials are the first generation who can get so much parenting advice online, but using the shared interest in parenting and how to juggle work and life can build bonds between coworkers and present new opportunities for mentorship. The Federal Government’s Office of Personnel Management offers a guide to creating these groups here.

Millennials are giving birth to 5 of every 6 babies today, so as an employer, consider building the programs and allocating resources now to help keep (and attract) the best Millennial employees.

Who Is More Mature — Millennials or the Adults that Raised Them?

A recent article in the Washington Post got my attention — I could not resist responding to the perverse logic the reporter used to conclude that today’s teens are growing up slower than older generations did when they were young.

There are some things in the article that I do agree with and some things that the reporter got flat wrong. I happen to agree with the premise that the life stage of youth has extended a couple of years, especially for second-wave Millennials (13 to 24-year olds). Psychologist and author Jean Twenge notes in the article, “with longer life expectancies and more resources at their disposal, today’s youth can take a bit more time growing up.” Plus, part of the hand-on helicopter parenting includes longer helicopter rides, often into young adulthood. How are young people supposed to grow up when their parents help them fill out their resumes and accompany them on a job interview?

Here is where the reporter took a wrong term in her analysis: The title of the article is “Not Drinking or Driving, Teens Increasingly Put off Traditional Markers of Adulthood.” It is true that young adults are participating far less in risky behaviors like drinking and driving, having unprotected sex, drug use, participating in violent crime, etc. But it is a perverted view to assume that youth are appropriately on their way to becoming an adult because they drink and drive, and take part in illegal or promiscuous activities. Are these behaviors actually marks of adulthood and maturity? Really? What planet are you from?

According to one Millennial in a focus group conducted by Eventbrite, “It’s pathetic to be drunk and reminds them of their uncool parents.”

The article misses the larger point, that the real reason today’s teens and 20-somethings aren’t taking part in as much risky behavior is that today’s youth are simply more practical and more averse to such risk than youth of prior generations. The teens quoted in the article make valid points, including that they would rather hang out with their friends than engage in activities with serious negative consequences. However, they are also thinking more about their long-term horizons and goals — something many people don’t give today’s youth credit for doing.

Millennials are a generation of achievers, not a generation of snowflakes, as they are compared to often. They have been driven by their parents from a very early age to think about how their activity today will affect their future. So, their time horizons tend to be long-term. This is one of the reasons that despite the ubiquity of social media today, you see very little beer bong videos and embarrassing and compromising escapades by young teens. Yes, of course you will find exceptions to the rule, but by and large, Millennials realize that this behavior will have dire consequences for their career and future job prospects.

So don’t lose sleep over the fact that teens aren’t boozing it up like their parents did. In the immortal words of Pete Townsend and the Who: “The Kids Are All Right”.

5 Things Millennials are Thankful For

Being a Millennial isn’t easy.

More so than other generations, members of the Millennial generation are dealing with crushing levels of student debt. Forbes reported that 57 percent of Millennials “regret how much they borrowed” for education, and now it’s delaying Millennials’ ability to buy a home, get married or do other things they want to do.

Yet for all the education they have, their job prospects are perpetually uncertain. More than half of Millennials report being “underemployed,” according to an Accenture survey. Many Millennials are turning to “gig economy” jobs – cobbling together a series of part-time or contract jobs to make ends meet. It’s rare for these jobs to come with benefits for retirement savings or health insurance, which puts more even financial pressure on young professionals.

What keeps Millennials awake at night? Retirement, job security and debt, mostly, according to a study by Charles Schwab & Co.

But in honor of the Thanksgiving holiday, we would like to recognize that Millennials have much to be thankful for. Here are five of them:

Flexibility at Work

While gig economy jobs may not be ideal in some ways, they do afford Millennials a significant amount of flexibility. Millennials like the way being a full-time freelancer or contractor gives them freedom and independence, career development and learning opportunities they believe a more “traditional” 9-to-5 job wouldn’t.

Even within “traditional” jobs, employers are embracing the notion of a more flexible work schedule. Fully half of the U.S. workforce has a job that is compatible with at least some teleworking, according to Global Workplace Analytics.

Technology plays an important role in this dynamic. Thanks to near-ubiquitous wi-fi, the adoption of tablets, newer workplace communication tools like Asana and Slack and the proliferation of co-working spaces, being productive outside the office is entirely possible.

Technology

Thanks, technology! There’s no doubt Millennials have incorporated digital technology into many, many facets of their life. From driving directions to working remotely to staying in touch with friends and family, Millennials are definitely digital natives.

But don’t get confused – being a digital native does not make Millennials digital addicts. While they appreciate what technology allows them to do, they say it does not replace in-person conversations, particularly in the workplace.

Social Awareness

Millennials are the most socially aware generation to date. They put a priority on social responsibility in many areas of their life. When shopping, they are more willing to pay more for sustainable products and services, according to a Neilsen global study.

Companies are paying attention to this trend in the products and services they offer, and in their commitment to the community. More than 90 percent of Millennials want to work for socially responsible companies. And a Deloitte survey showed 70 percent of Millennials “listed their company’s commitment to the community as an influence on their decision to work there.”

Whether a company is seeking Millennials’ dollars or talent, corporate social responsibility is key and a trend Millennials are thankful for.

Understanding and Involved Parents

Financial stress from student loans and job uncertainty means a lot of Millennials are trying to save money on housing by moving back home with Mom and Dad. Some Millennials are using the money they save on rent to pay back student loans faster so they can move on with their adult lives.

Thank goodness for understanding parents! While there haven’t been many studies about how the parents actually feel about this, more than one-third of college seniors in 2016 planned to live at home for at least a year after graduation, according to the job website Indeed. Millennials grew up with parents who were highly involved in their children’s emotional and educational development and activities.

For employers who are looking to hire recent graduates, it’s likely that prospective Millennial hires’ parents are heavily involved in this process. That may mean answering questions from parents, inviting parents into the office and even reassuring parents that your company has their child’s best professional interests in mind.

Optimism and Drive

Millennials were raised with the belief that they could do anything and be anyone when they grew up. Witnessing the United States’ first black president and the first woman at the top of a major party ticket, as well as seeing Millennial successes like Mark Zuckerberg and Sheryl Sandberg, Millennials are ambitious, passionate – and optimistic.

Almost half (49 percent) of Millennials say the country’s best years are ahead of them, but just 42 percent of Generation X members and 44 percent of Baby Boomers say the same, according to Pew Research Center.

That sense of optimism will serve them well both personally and professionally. Optimism has been cited as the single most critical characteristic of successful entrepreneurs. Their optimism may also make them healthier in the long-term, as studies have shown a positive mental outlook has a good affect on cardiovascular health.

For those who are hiring Millennials in the new year, keeping in mind these five things that Millennials appreciate — flexibility, technology, social awareness, involved parents and optimism — will help with successful recruitment, hiring and long-term retention. Millennials will be thankful for managers who coach them, keep their professional goals in mind and allow Millennials the opportunity to be themselves.

4 More Millennial Traits

Last week, we wrote about how Millennials were raised by their parents to feel special, sheltered and confident. Those three Millennial traits mark that generation’s personality, shaped by their parents and the prevailing cultural influences of the times.

But there are four more traits of Millennials worth paying attention to: Team-oriented, Conventional, Achieving and Pressured.

Team-Oriented

There’s a reason why group fitness classes are more popular than ever before: Millennials are the most team sports-oriented generation in history, thanks to the rise of organized sports and parents who focused on group participation activities for their Millennial children. This started early for Millennials, in schools that emphasized group projects and team collaboration.

This team focused orientation set the stage for Millennials’ preference and expectation of working in teams in the workplace. It also sets the stage for managers to play more of a coaching role. The managers who want to attract and retain the best Millennial employees should consider taking on a “coach” role. This means:

• Building relationships is important, as Millennial employees want to feel like they belong to a team working toward a larger goal or the “greater good” in their career.

• Cross-generational mentorship is appreciated by Millennials, who want to feel connected to people in other departments, be coached by people with more experience and want to feel part of a community.

• Embracing open communication and frequent feedback will make Millennials feel welcome and like an important part of the workplace team.

Conventional

It is counter-intuitive to think that “youth” and “conventional” go together. The Baby Boomers led the way in their youth to be unconventional, anti-establishment, and counter-cultural. GenXers followed the Boomers lead by being non-conforming, but in a different, more rule-avoidance way. Millennials, on the other hand, are a truly conventional generation in may respects.

Gallup research revealed, “In addition to finding steady, engaging jobs, millennials want to have high levels of well-being, which means more than being physically fit. Yes, millennials want to be healthy, but they also want a purposeful life, active community and social ties, and financial stability.”

Millennials are waiting longer than their parents and grandparents to get married, have children and buy homes, but not because they don’t want to follow the conventional path of owning a home and raising a family. Millennials are delaying those things due to economic circumstances, i.e.–student loans and tenuous employment situations.

For employers, this means providing Millennials with predictable, stable opportunities to grow their skill set, and a clear career path. Millennials don’t like to “wing it”. They would rather have a plan that extends well into their future and know what to expect for their long-term development. Make sure you provide plenty of opportunity to explain benefits like health insurance, 401ks, and other benefits. Research has shown that Millennials tend be the most conservative when it comes to investing their money. They save at a higher rate than other generations, and are less likely to have their money in the equity market.

Achieving

Millennials want to achieve. Contrary to the common media narrative, they are an ambitious generation that wants to make a difference in their lives and the lives of others. As previously noted, Millennials’ parents were more involved and more positive in many ways when it came to how they were raised. Parents had high expectations for their Millennial children, that they can achieve anything they put their minds to and the sky is the limit

This was reinforced as they became older with historical markers that would have been improbable in the past, such as the first black president, the first female Presidential nominee of a major party ticket, and a wildly successful Millennial entrepreneur Mark Zuckerberg who transformed the way all generations communicate.

Another indication for this ethic of high achievement is their education level. “Millennials are on track to be the most-educated generation in history,” according to the Pew Research Center. In 2015, about 27 percent of Millennial women had a bachelor’s degree or higher by age 33, and 21 percent of men did. Those are higher percentages than Generation X, the Baby Boomers or the Silent generation by age 33.

So, how does an employer manage an achieving generation? First, never dumb down your message for Millennials. It is condescending and they will see right through it. Set high standards in performance in the work that they do. Be clear about benchmarks and reward them at each step of the process, not just upon completion of a goal. Remember—Millennials grew up in a 24/7 news cycle, texting and IMing. Speed and frequency is important.

Pressured

A lot of that high-achieving attitude Millennials have comes from the pressure they feel to achieve. A survey conducted by Inc.com revealed 67 percent of millennials said they felt “extreme” pressure to succeed, compared to 40 percent of Gen-Xers and 23 percent of Boomers.

In addition to having highly-involved parents and frequent “measurement” of their progress in school, Millennials feel pressured to succeed at a younger and younger age. “In a strange way, the fact that most millennials’ parents raised them thinking ‘the sky is the limit’ and ‘you can do anything you believe you can,’ then when they don’t immediately find success, they feel bad about themselves, and pressure to ramp it up,” wrote Dr. Rose Kumar.

In the workplace, this means recognizing the stress that they are feeling. A stable salary and clear expectations of their role goes a long way to reducing this stress, and can really improve performance, but smart companies are taking it up a notch. Wellness workplaces, programs that encourage physical exercise, a balanced diet, meditation, and a healthy social network are all part of a growing trend in the workplace that all generations can benefit from.

One common theme that runs through all four of these traits is the need for employers to set clear expectations. Research performed by Gallup found that one of the strongest correlations to workplace performance was an employees ability to understand what is expected of them.

Employers shouldn’t “wing it” when it comes to attracting and managing Millennials. Have a plan. Be clear. Think long-term.

Boomers v. Millennials: Who had More Sex, Drugs, and Rock 'n Roll?

Just to set the record straight, the Guardian did a short piece on the reality of boomer behavior v. Millennial behavior. It might surprise you.

“Parents reminisce about how things were different back in their day – but how much has really changed? We asked millennials and their parents how they think attitudes to sex, drugs, jobs and living at home have shifted over the generations, then we dug into the data to see how big the differences really are”

Coaching is the New Managing For Millennials

I love Peter Drucker.  The father of modern management always cut through the complexity and got to the heart of that matter. I remember during the weighty assignments in finance and accounting classes while getting my MBA, I’d run across a Drucker quote like, “business has only two functions, marketing and innovation”. This inspired me to slog through the double-entry bookkeeping.

Drucker died in 1995 at the age of 96, so he never managed a Millennial, but if he did, he would be refining and tweaking one aspect of his management theory. He might say that to get Millennials to peak performance, manage less, and coach more.  Coaching is the new managing for Millennials. Here’s why

Millennials grew up to believe they were special. From an early age they were doted on by their parents, helicopter-hovered in K-12, and plastered with gold stars for completing assignments. They have been under the watchful eye of parents, teachers, tutors, and coaches all their lives. For the most part, these authority figures have been caring with their Millennials’ best interest in mind.  So when these Millennials enter the workforce, how will they respond to someone who doesn’t possess these characteristics? A distant authority figure doling out unexplained assignments and lofty goals without explaining how to get to those goals is not the way to get there. On the other hand, someone that will work closely with them, mentoring and partnering– coaching them to better performance will experience far greater levels of productivity.

The word “management” conjures up a faceless bureaucratic infrastructure, at worst– malevolent, and at best—indiscriminate: Rule-making and decision-making at its worst. Drucker himself even said, “So much of what we call management consists of making it difficult for people to work”

Let me be clear. The principles of good management still need to apply—clear expectations, a means of tracking progress, and rewards for achieving goals. But how a manager manages should be more like a coach—developing his or her Millennial employee with close supervision and a watchful, caring eye.

Old habits die hard, and if you’ve been a manager for more than 10-years, I can understand the inclination to subscribe to the philosophy,  ‘if it ain’t broke, don’t fix it.’ But something does not have to be broke in order to fix it.  Change happens, and the strong are those that can adapt to change. Millennials are different from the previous two generations. They are the change that is happening in the workplace, and coaching, not managing, might be the change that gets your organization to higher levels of productivity.

Take it from Peter Drucker when he says, “If you want to start doing something new, stop doing something old.” Coaching is the new managing when it comes to Millennials.

-Warren Wright