The millennial generation is rapidly taking over the Baby Boomers’ role as business leaders. It is estimated that more than half of today’s workforce (in the U.S.) is—or is expected to be—born after the 1980s. With different mindsets, perspectives, and goals, millennials could run businesses and the economy is a much different way.
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The young, ambitious, energetic, and innovative age group has already experienced (and overcome) two major financial crises in a span of just 10 years, equipping them against similar adversities in the future. Social media and IT infrastructure have boomed in an unimaginable pace as the generation was growing up. Tech-savvy business neophytes are learning corporate duties at a much faster rate than did their older mentors. Millennials grew roughly at the same time the information age peaked, providing them resources to study plenty of concepts, analyze changing economic data, and invent solutions for emerging or anticipated global financial issues.
Surprisingly, millennials are highly flexible and place high value on the concept of “work-life balance.” They are highly productive because they know how to give their hard-working brains a break. They think fast and creatively, itching to get out of the box and travel to places where they can learn new things and ways of life.
However, these positive traits are not consistent throughout the population. Not all millennials are well-informed or well-trained to tap into powerful resources and lead innovative changes. Many of them—particularly those in their 20s—are stuck with the thirst for the “youthful lifestyle” that hinders them from investing in platforms that could protect them against financial catastrophes. Nevertheless, they still have ample time and all the necessary tools to change that.
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Steven Rindner is an executive with a strong background in business development and growth strategy across a number of industries including media, technology, real estate services, and healthcare. Follow him on Twitter to know more about his professional background.