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Coaching Millennials. What Generation Y Needs To Hear. Mallie Rydzik, M.S. www.TheOffRoadMillennial.com. Your Speaker: Mallie Rydzik. Millennial coach, consultant, author, and speaker Graduated college from the University of Virginia in 2009 Joined millions of others in graduate school
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Coaching Millennials What Generation Y Needs To Hear Mallie Rydzik, M.S. www.TheOffRoadMillennial.com
Your Speaker: Mallie Rydzik • Millennial coach, consultant, author, and speaker • Graduated college from the University of Virginia in 2009 • Joined millions of others in graduate school • Became disillusioned with academia following a mental health breakdown • Played job roulette before being drawn to coaching fellow Millennials
What is a Millennial? • Depending on whom you ask, Millennials were born between: • 1979-1995 • 1980-2000 • 1980+ • Raised by Baby Boomers during a time of relative economic prosperity • The “everyone gets a trophy” generation • Also known as Generation Y
The Circus Parable And our expectations for our children…and clients
Generational Data Data from Pew Research Center
Student Loan Debt Via ProjectOnStudentDebt.org
Millennials In The Work Force • In 2010, 37% of 18-29 year olds were unemployed • “Research shows that young people who graduate from college in a bad economy typically suffer long-term consequences – with effects on their careers and earnings that linger as long as 15 years” (Pew Research Center)
Millennial Entrepreneurs • Millennials are turning to entrepreneurship to solve their job crisis. • In a survey conducted by the online job site, Odesk, 58% of Millennials classified themselves as entrepreneurs. • The same Odesk survey found that Millennials consider entrepreneurship to be a mindset. • Millennials are bringing the entrepreneurial mindset into the traditional workplace…and they want to be heard. • Using technology and social media to establish their personal brands.
Actual Millennials Examples Of This Change
The New Military Spouse • No longer forced into stay-at-home-spouse status. • Turning to entrepreneurial or remote work careers Makenna Johnston Hannah Becker
The Generational Spokesperson • Taking advantage of Millennials in the news • Inspiring and educating Chelsea Krost
The New Online Businesses • The popularity of income reports • High 5 to 6 figures/month John Lee Dumas
Overview of Generation Y • Getting married later, but not due to a lack of interest in marriage, children, or home ownership. • More educated than previous generations, but with higher student loan debt. • More under- or unemployed than previous generations, yet optimistic in future earning potential. • Turning to entrepreneurship (both online and offline) to create their own jobs. • Bringing entrepreneurship into the traditional workplace in the interest of innovating and making a difference. • Technology is inextricably part of youth (and older) culture.
Why The Bad Rap? • Being compared to their generational predecessors, whose economic, academic, and career realities were different. • Misunderstanding of the necessity of an online presence, which can appear narcissistic. • Higher (inflation adjusted) student loans with less stable career options
How Do We Coach Millennials? • Acknowledge the realities of creating a career in the current economy. • Stay up-to-date on technological trends and online business opportunities • Be prepared for more young people coming to you asking about starting their own businesses • Be hesitant when suggesting additional education • Don’t downplay their optimism or desire to “make a difference” or “follow their dreams,” but continue to direct them toward realistic goals • As with youth of any generation, avoid sounding too much like their parents!
Discussion • In addition to your questions, I’d like to know about specific experiences you have had coaching people in their 20s and early 30s over the past few years. • Do these data align with what you’ve seen personally? • What are your thoughts on the data about your own generation that were presented here? • What other data do we need to effectively coach this generation? • What should we expect from the post-9/11 generation (Generation Z)?