by Kathleen M. Randall
Ever think an entire generation could get lost? Maybe not physically, but economically. As I train and coach managers and their staff, I often hear concerns in two ways:
Concern #1: Our industry (entrepreneurial in nature) is filled with Matures (born pre 1946) and Baby Boomers (born 1946 – 1964). Where are we going to find young blood to keep our industry going?
On the other and opposite end I hear:
Concern #2: “I just got out of college, have college debit with sky-high interest, and I can’t find companies willing to hire me for a full-time job, let alone even talk to me. And when I do put in my application and resume, most companies want me to post everything on-line… then proceed to tell me to wait and they’ll get back to me… if they like what they see on paper!”
This last concern is coming from what is the most recent years of college graduates. We are living in what is coming to be known as The Great Recession’s Lost Generation. http://money.cnn.com/2011/05/17/news/economy/recession_lost_generation/index.htm
or Click here: (2011 MAY 17_Money.CNN.com_The Great Recessions Lost Generation).
This “Lost Generation” experienced a continually climbing college tuition while they were in college. Meanwhile, college loan interest rates were at an all-time high. As this generation graduated from college, they left the classroom with high loan debt and an economic climate of high national unemployment. In fact, as they looked to begin contributing to society, “60% of them have not be able to find a full-time job in their chosen profession” (2011. Adecco job placement firm.)
So upon leaving college, this “Lost Generation” has high debt, few job openings, little or no income, and an outlook on life that is less than rosy. Even Hollywood has taken notice and refers to this generation as the NINJA generation: No Income, No Jobs, No Assets. (Coined from the 2010 movie: Wall Street: Money Never Sleeps.)
So it would seem that we not only have two concerns, but that we have two opposite situations that might be able to find their solutions in one another.
We have two generations that need to talk… those leaving the entrepreneurial workforce and those looking to enter the workforce to be gainfully employed.
How can you be part of the answer? Start a conversation. Consider having a conversation with some of your generationally-opp