How The Business World Is Failing Millennials


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The current landscape of  workplace environments has changed dramatically over the past few decades, making way to business trends that have certainly benefited bigger companies into expanding their activities to different places around the world. But if there is one bleak note to make of this, it’s mainly how this corporate-oriented development of workplace trends has created a new set of business needs that have failed the up-and-coming demographic: millennials.

After World War II, and with the advent of the baby boomer generation, a secure workplace seemed to be guaranteed for youngsters entering for the first time. This is why the concept of having children earn more than their parents became a common thought that was passed on for decades. Unfortunately, in the current economic panorama, this idea is no longer valid.

Media outlets around the world are reporting staggering figures that show an increase in millennial unemployment. And even for those who manage to get access to a stable job, the salary curve seems to get to an abrupt halt, since companies are only willing to pay small salaries for entry-level jobs, which are the core of this demographic group.

How has this happened? It’s notorious how the workplace has shifted towards more temporary job placements that ensure the company doesn’t have to spend large amounts of money in paying a salary with added benefits, but still manages to get a person doing the job for a period of time. Temp agencies have been created all around aiming to fulfill this new era of business needs; outsourcing has allowed for the creation of companies whose solely purpose is to work on smaller scale projects for which they employ–you guessed it– temp workers and subcontractors. None of these provide a decent-earning salary able to create a stable financial position for them.

One of the main benefits companies are claiming to have with this features is greater flexibility for their workers. This is true. But when compared to the lack of financial growth and career opportunity this generates, it seems to fail to accomplish its main purpose: security for its employees.

This trend has spread throughout different businesses, with journalism, marketing and information technology being at the top. When compared to the opportunities other generations had to go up in the work ladder, millennials seem to be in a troubling position– access to a solid career opportunity as a temp worker or subcontractor is extremely limited.

Governments need to take a stance regarding this issue. Public policies that recognize this tendency will further the concerns of the next generation of businessmen and women who aim to increase their community’s economy, but whose lack of opportunities to grow has cut them short of developing a stable foundation. The modern world requires a shift in the way businesses think and execute their strategies and millennials will be the generation to do so, if they are given the chance.