5 myths about millennials

By Jessica Stillman via inc.com   Article

5 Myths About Millennials That Have Been Completely Debunked by Science

“Read and believe everything out there on the supposed traits and preferences of young people, and you’d come away thinking those aged 18-35 are basically a separate species. And not a very nice one. Entitled, disloyal, incompetent, fragile, young people have been called a series of names that would probably provoke a fist fight in a different setting. … the vast majority of these claims have been thoroughly debunked by science. …

1. Millennials are way different than other generations.

… an article in the The Economist, which explains that people all ‘want roughly the same things regardless of when they were born: to be given interesting work to do, to be rewarded on the basis of their contributions and to be given the chance to work hard and get ahead.’ … Pew Research … Millennials are pretty similar to where previous generations were at the same age: Here’s median household income (in 2013 dollars) for each group when they were 18-33: Boomers: $60,068 … Gen Xers: $63,365 … Millennials: $61,003

2. Millennials are unsatisfied at work.

Nope, this one isn’t true either. ‘Compared to Boomers and Gen Xers, Millennials reported higher levels of overall company and job satisfaction, satisfaction with job security, recognition, and career development and advancement, but reported similar levels of satisfaction with pay and benefits and the work itself, and turnover intentions,’ claims research in the Journal of Business and Psychology ….

3. Millennials are disloyal.

‘Contrary to popular perceptions Millennials actually stay with their employers longer than Generation X workers did at the same ages… Millennials are less likely to have been with their employer for less than a year than Generation X workers were at the same age, and they are more likely to have been with their employer for a fairly long period like 3 to 6 years,’ points out The White House’s 15 Economic Facts About Millennials ….

4. Millennials are lazy.

… here’s what The Economist says about this one: ‘CEB, a consulting firm, polls 90,000 American employees each quarter. It finds that the Millennials among them are in fact the most competitive: 59 percent of them, in the latest poll, said competition is ‘what gets them up in the morning,’ compared with 50 percent of baby-boomers.’ …

5. Millennials are financially illiterate.

… A survey by the firm of respected financial advisor David Ramsey of more than 1,000 Americans found that Millennials ‘are not that far behind many of those who are closest to retirement. Nearly 60 percent of Millennials have less than $10,000 saved for retirement, but roughly half of Baby Boomers are in the same boat, despite the fact that this generation has had as much as half a century to save.'”


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