Every generation has its trends and traits. Every generation is different. They have their own experience or circumstances that shape them. However, labeling a positive trait or a negative one is not okay because every individual is unique. But some traits may stand out to be true for a particular generation. With that in mind, we can say that the millennial generation is less wealthy compared to the baby boomers(The surge of birth in world war two in 1946 and the sudden drop in birth rates after 1964, gave them the name baby boomers). The baby boomers enjoyed significant financial freedom and were considered more wealthy compared to the millennials. Many pieces of research attest to it. This article is all about Millennials Goals.
Study shows that millennials earn less than their parents at their age. This economic disparity was caused by the huge unemployment problem due to various circumstances such as recession and other political turmoil. This all adds up to the current trend of the unemployment problem. Needless to say, when the resources are scarce compared to the previous generation, the outlook will take a significant turn for that individual. So, the majority of the Millenials have shifted their attention elsewhere to get happiness and contentment. It does not mean that every Millenials is poor and does not have the means to survive. But the various findings and research shows the lack of resource dynamics to be there compared to their parent’s generation. The millennials grew up in an entirely different era. They were born during the technological eruption. Thus they are called digital natives.
What happens when a generation is exposed to such an eruption?
- A series of ripple effects follow suit, shaping their way of thinking and interaction.
- The environment we have been exposed to plays a huge role in our thinking patterns and behaviors.
- Apart from the negative aspect of the Millennials, there is a positive one too.
- This common mindset or goals of the Millennials are gaining momentum and it will soon bring out fresh ideas and ways which the previous generation have never done nor thought of doing.
This mindset of the Millennials, if implemented, will help change the world for the better. With the 75 million millennials alone in America and by 2021, 80 percent of them in the workforce, this is going to be one of the most interesting generations to watch and explore its many facets which are going to change the whole dynamics of the way we work, shop and live in general. The entire economy, right from the consumption of products to the business conducted will take a huge turn.
- Studies have clearly shown that the millennial’s goals and vision are entirely different from their previous generation.
- They have a different set of principles and beliefs. The environment and the circumstances they were exposed to made them that way.
- Nobody can blame them for thinking the way they do as every human thought is directly affected by their environment.
These are some of their goals found out by researching and interaction.
- Millennials are more conscious ethically and value diversity more than the last generation. They were the digital natives, don’t forget that. These shaped the way they see the world. Also, the computer made it accessible to different cultures all across the globe. This made them learn about other countries and had them interacting with the people with just the click of the mouse. Millennials are more aware of the inclusion of diverse groups in a workforce and most love to be in one. This is a common finding, although there will be exceptions, no doubt about it.
- Millennials are advocates of environmental and sustainable development:– this generation has seen more environmental degradation. The news is all about climate change and the measures needed to mitigate them. The resources are depleting more than ever, as the more educated and environmentally aware generation, are at the forefront in the fight for climate change. The majority believe in sustainable development and taking individual responsibility for the environment. These goals have shaped the way millennials live.
- For instance, Millennials are more likely to go for eco-tourism because they believe in limiting their carbon footprint.
- They are more likely to share a ride or rent a car, instead of buying one.
- They are more into recycling and DIY products as they believe that these help the environment.
- They are more likely to eat less meat and change their diet to a plant-based one, as they believe that this has an impact on the environment.
- This shift is bringing a positive change in the way businesses are conducted.
- We can see more green initiatives by companies all across the globe to please their environmentally conscious customers, which is a good positive change.
- Millennials value happiness more than an accumulation of wealth and power:- This generation is financially less privileged than the baby boomers. This has made them adopt a more frugal lifestyle. Many studies conducted have shown that most millennials live with their parents and some prefer not to buy a house or a car.
- They have a sharing economy mindset. They give more value to creating happiness along life’s journey than amassing huge wealth with no satisfaction or joy.
- This has caused them to search for new jobs leaving the ones which don’t give them satisfaction or purpose since they are a purpose-driven generation, they tend to move more seeking their purpose which makes them change locations, jobs, and community.
- They love to explore which is one of their main goals and will leave a place if they feel they are getting stagnant. Most consciously research and look for companies that place equal value on their employee’s happiness and well-being.
- Their goal to view life as a temporary one and to make use of it to the fullest keeps them looking out for fresh and better avenues, one that fits their goals and values.
- Millennials’ goal is to value relationships. This holds for this generation. They are more empathetic. This may be due to the way their world is shaped. The stress of unemployment and the need to compete for everything more than ever, has caused them to be more aware and sensitive to the world around them. This sounds counter-intuitive but it is true.
- This generation is more into giving out for the greater good. They have a more philanthropic mindset and though this generation has less compared to their parents, they have shown that they have a greater philanthropic approach when it comes to action-oriented tasks.
- They are huge givers. We can see them participating in community outreach, volunteering for various causes. This is a great thing and if this trend continues, a great change in society can happen.
- Most Millennials have minimalist goals. Minimalism is getting trendy. This kind of lifestyle shift is happening to lots of millennials. Right from the food, they eat to the clothes they wear and the house they live in into the car they drive.
- Most believe that owning less is more. They love to live a minimalist lifestyle. This change in mindset has caused them to buy less and consume less.
- In the pockets of America, urban farmers are sprouting up, thanks to the minimalist lifestyle. This generation loves to save and save more.
- The grow your food initiative and platforms supporting this lifestyle have come up. For instance like platforms for buying and selling used clothes, renting out any excess thing you have, etc.
- Since most of them are not big spenders, you will find Millennials are not brand-conscious people and hold the highest rank for brand disloyalty. The way to win Millennials into buying your product would be by selling them things they value, like sustainable products or things that have a purpose or value attached to them. Millennials love to reason and attach meaning to everything they do. Most are wired that way so businesses have to come up with innovative ways to capture their attention.
- Millennials’ goals mostly are to travel and have new experiences because of that most love to learn. They are a knowledge-hungry generation and love to educate themselves on various topics or skills. Due to this, this generation places a high value on education and is the generation that has the most college graduates compared to their previous generation. They say with knowledge comes great power, this holds for the Millennials. They now feel like they can advocate change in the political arena, social and economic, thus more participation.
- Millennials love to work in teams. They have this mindset of team building and working together cohesively. Since most of the Millennials feel strongly for minorities and inclusion. This belief in team spirit is not a surprising one. They are tech-savvy as well as emotionally intelligent. They are an open-minded generation as this generation has seen it all, right from the technology boom to globalization, therefore, they tend to be more inclusive.
- Millennials’ goal is valuing authenticity. This is the buzzword for this generation. They are ready to accept anything or anyone as long as it is authentic. From products to relationships, authenticity seems to be the key ingredient for them. Unlike the previous generation, they highly scrutinize the products or services they consume, comparing them by price, value, benefits using their tech-savvy knowledge and then make an informed decision before they buy it. Businesses can no longer relax, due to this nature of the biggest population of America, the competition among the businesses to be the best will increase which is a good thing because that would mean better products with lesser price.
- The goal of millennials is not to be bogged down by work so needless to say they prefer flexible hours of work. Studies have shown that more people than ever are leaving their mainstream jobs and choosing other avenues. Most prefer to work from home as a freelancer or own a business. Since millennials give so much importance to work-life balance, this is bound to happen.
- This generation prefers to live a good life but not at the cost of their health and family. Their goals are more inclined towards sustainable living which involves a lot of self-care routines like a workout routine, eating healthy, and mediation.
- They love to retreat and recharge to bring their best self to the world. If their job or anything robs them of it, they will not hesitate to cut it off.
- They value inner peace and love to be great positive influencers. We can see a lot of positive talks and quotes more than ever.
- This generation loves to have an open-minded discussion regarding anything under the sun. They are less traditional and more open to new experiences and cultures.
- Most Millennials are seeking out spirituality rather than religion. We can see the trend rising on spirituality everywhere. The traditional mindset of religion is breaking and we see more spiritual seekers. They are more open to looking into the different ways of obtaining spirituality than their previous generation. The words karma and yoga are more relevant in this generation.
So, one can get a slight idea of how this generation thinks and behaves. The goals they have and the mindset they follow gives us an idea of their attitudes. we can say that this is an altruistic generation with high energy and optimism. Due to their high consumption of social media, they tend to be a bit unrealistic with the world around them. The good part is that most are resilient, generous, educated and self-starters, creative and good problem solvers. The negative part is that they can be idealistic, detached from reality, impatient, impersonal, indulging, etc. Bear in mind that millennials are those born in 1981-1995, so there is a huge age dynamic involved here. The attitudes may vary according to the age as well and exceptions are always there. But overall, this generation is a nature-loving, purpose-driven, soul-searching bunch of individuals who love to seek out new avenues and adventures which has led to a surge in innovation and creativity in this Millennials generation.