ARE YOU PAYING ATTENTION TO THE NEXT GENERATION?
Some pundits are calling them Generation G for “Generosity.” Others are sticking with the more familiar Generation Y or Millennials. Whichever, there are about 80 million of them, born between 1980 and 2000, roughly a quarter of the nation’s population.
Until recently, for sheer spending power and cultural hegemony, this was a consumer group unrivaled in American history. They were weaned on digital entitlement, prosperous promises and plenty of disposable income. Then came the global economic meltdown, with Gen Y hit hardest of us all.
Now, college students who graduated in 2007, 2008 and 2009 and, likely 2010 and 2011 too, find that all their eyes-on-the-prize work, all the parental promises, all their fancy degrees, elite schools and competitive summer internships aren’t yielding career opportunities or even jobs with salaries. So what’s happening?
Gen Y is going into the giving business.
They’re signing up in droves for Vista and the Peace Corps, volunteering to help communities in Chile and Kenya, working on sustainable farms and solar energy experiments in Utah and India, taking ESL teaching positions in Thailand and Peru. This “globalization” is a far cry from the multinational trading channels that everyone anticipated.
Since Wall St. and Main St. have shunned their contributions, Gen Y grads are launching enterprises and ventures dedicated to social entrepreneurship. They’re eager for a livelihood but they also are passionate about being purposeful and making a difference. This isn’t the world they expected. But they’re coping. They’re moving forward.
And their attitudes and values are trickling down to younger brothers and sisters, as well.
The number of teen volunteers just hit an all-time high. Nearly three out of every four (73%) of the 19 million Americans age 12 to 17 have now volunteered at some point, according to a new study by Harris Interactive for The Volunteer Family. That contrasts to the fewer than six out of 10 (60%) in that age group who had volunteered in 1996, according to an Independent Sector study.
Keep your eye on Generation G. They just may redefine the ladders of American success.