Money and Meaning
You’ve heard all the stories about Millennials’ sense of entitlement. There is, of course, truth in the tales. However, it’s important to understand why they are entitled and what the end is toward which that entitlement is taking them.
Millennials were raised in a structured and controlled environment. Most Boomers had much more autonomy as kids. (Growing up, my parents had no idea where I was most of the summer from dawn until dusk.) Today’s parents cannot afford to allow their children the freedom they themselves once knew. In most parts of the country, there are no more pick up baseball games or football games on Sunday afternoons. No more camping out and building forts in the woods. Instead there are structured activities: travel sports, clubs and organized activities with parental oversight. To complicate things further, the focus on self-esteem for this generation has resulted in prizes and success for all.
As we think about leading emergent organizations we have to account for these realities. Because of their history, Millennials don’t mind hard work-though they do need to understand the meaning of their work. The primary objective of most Millennials is to find meaning in what they do. For Millennials, money is not a motivator, but it is an expectation.
In addition to meaning, Millennials also require praise. Lots of praise. Remember, like the Dodo bird in Alice in Wonderland, this generation learned that “all have won, and all shall have prizes.” For older generations, finding something to praise can sometimes be a challenge-particularly when there’s so much that might be criticized!
Bottom line? Money isn’t it for Millennials. To lead this generation means watching for opportunities to create meaning and celebrate success.
About the author, Jeff Terrell
