Every other day, there seems to be an article about millennials making up 50% of the workforce by 2020. On one hand, this is true. Millennials are a growing segment of the population and as more of us graduate from college and look for jobs, we will understandably be a greater presence in the workforce. The question, however, is how many of us will actually be entering the job market?
Millennials are digital natives. We were born technology savvy with, social media, cloud and entrepreneur hot-wired into our DNA. As a result, our generation is shifting the future landscape of what it means to be employed. In a recent survey of millennials by Bentley University, only 13% of respondents included “climbing the corporate ladder” as a career goal. In contrast, 67% said their main goal was starting their own business. Being a part of this generation, I have to admit, these numbers aren’t too far off. I have a number of friends actively pursuing solo careers, outside of the corporate realm. This seems to be the going trend, that just a decade ago, didn’t exist.
So what is it about my generation that leads us to bypass the once coveted C-suite dream and replace it with one of entrepreneurial enterprise? Possibly more than any generation before, generation Y values its creative freedom and the independence and opportunity to learn and go as they please, more than a corner office, or as some see it, 20 years working for someone else’s dream. With the pace of technology increasing exponentially and the ability to start a business at the touch of our fingertips, we millennials no longer see the benefit to struggling our way through corporate hierarchy. We can do our own research, surround ourselves with virtually likeminded peers, and embark on any endeavor all from the comfort of our own home. With technology and cloud services providing ease of access to potentially all business needs, millennials can take calculated steps to achieve goals of success while minimizing the cost previously associated with starting a business.
This all may be easier said than done, and of course not ALL millennials immediately choose the entrepreneurial route. I work at one of the largest business software companies in the world. But I manage social media and content marketing. The skills I am acquiring today will help my future entrepreneurial pursuits, if I choose to go that route. BUT, with corporate America’s long-standing reputation revolving around bureaucracy, micromanagement, and opposition to change, millennials are choosing to go it alone by the masses. Don’t get me wrong, there will be plenty of millennials like myself embracing entrance into corporate America, but for the 67% who perceive entrepreneurship as a primary goal, we could see by 2020 a new heyday of modern day mom and pop legacies.
Recommended article: Chomsky: We Are All – Fill in the Blank.
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