Tuesday, 6 june 2017 | Brenda Rodríguez López
They have been called lazy, fussy, spoiled and naive. Millennials have been hit by the worst economic crisis for decades. They suffer the despise of contemporary generations and the highest unemployment youth rate in history. Surrounded by a society which is questioning their talent and a hostile atmosphere, could a millennial become a successful leader in the business world?
We are living in a time where we like to name everything. Probably we are influenced by the age of Twitter where everything is susceptible to be a hashtag. We need to tag and mark the latest trends that emerge in our accelerated and digitalized reality. Tens of names have appeared to refer ourselves to new urban tribes and youth trends. Perhaps the most widespread designation until now is the millennial generation.
Who are the millennials?
These Generation Y is accused of living very well. Most of these young people have received a financial support from their families until they finished their studies. Just in that moment, the crisis struck. They were unexpectedly caught off guard by reality. That is the millennial shock. After a considerable financial effort and investment in their studies, the previous generation refuses to giving up the idea of their children getting a dream job and, occasionally, they keep supporting them. Nevertheless, the last report of the Observatory of Emancipation for the Youth Council in Spain pointed 2016 as the year of the historic milestone in the emancipation youth rate in Spain from the paternal/maternal housing. Finally, after twelve years the number is below 20%.
With the advent of the global crisis, this young generation is forced to adapt to a new working environment. They are facing an unemployment rate of 4.255.000 people, according to National Statistics Institute of Spain on the Labour Force Survey on the first trimester of 2017. Although the figures have improved, the Millennium Generation needs to confront several problems. Temporary jobs have increased. Salary expectations have been reduced. They are working in jobs where they are overqualified –sometimes there is a paradox when their chiefs are less prepared than them–. They agree to do an internship that will prolong and it is no guarantee of an established position. In terms of convenience, or discourage, many of them join the group known as NEET –Not in Education, Employment or Training–. Others pack their suitcases to try their luck overseas.