Forbes on the Millennials (degrees, profit, employers, find a job)
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Oh the horror, companies are making a profit, does not change the fact that they are all working under a budget, the bigger the company is the harder it is to give one level of employee a raise without blowing up the bottom line.
Also last I checked the stock market is not a true indicator of company profitability, in fact Profit & Expense ratio is one of the most ignored indicators in the market and has been for a decade.
By the way you want to know why Bank of America can lay off 8000 people and give their CEO a raise, it is actually a simple reason, those people are no longer needed. With technology now allowing you to make a deposit with your phone, ATM allowing access to your cash they only need about half the teller they used to. If you look at the personal banker and loan officer type jobs it is even worse. You see when I got in the mortgage business in 1999 it was basically an industry standard that the average deal would take about 24 hours between talking to clients, structuring the deal to work for the clients, meeting with clients, chasing documents, packaging the paperwork together and mailing it to the lender, ordering appraisals and title. Now it takes a little over 8 hours to do the same work using email, sttp files, and the computer programs that do most of the paperwork for you. So they need 1/4 of the loan officers and personal bankers to produce the same results as it took 15 years ago. Now a good CEO, those are not easy to replace, and are still needed.
Last fact is that last time I checked there were over 30 million companies in the country, a few making record profits, especially when you do not know where their profitability lays when it comes to their actual percentage or profit versus expenses as compared to past results, does not make a true indicator of where all businesses are at. But keep pointing to a handful of the big evil corporations and ignoring facts.
Where are the facts that these companies are struggling? You look at the last two years and companies all around the country, especially big companies, are having strong profits, but they won't hire. Meanwhile the mood of the country and workplace is low. Morale is low. People are saying they are overwork, the mentality of do more with less is still in full swing.
I have no problem with profits, but I do have a problem seeing weasels who suck at their job like Mr. Dimon at JP Morgan as his company has broken the law and rack in millions in fees, laid off people due to poor management, and he gets a raise. I get sick of hearing these leaders and managers saying they can't find the right worker when they don't do anything to train people. I'm sick and tired of hearing them that money is an issue when so much money is wasted in the hiring process with outside recruiters, countless personality tests, and have everyone with a title wast their time meeting with someone they'll never work with.
Another example of wasted money, one time my Dad tried to go to a conference/workshop that would have been beneficial to his work in Nashville. He lives in mid-MO, and was planning to ride down with some engineers from a company they do business with. They deny him due to budget reasons, but his plant manager and his boss had to go to Tokyo for a week to accept basically a "TPS report" award that is in the trash now. Ironically now that he is a project manager, he chooses to stay home and work when his other managers travel to Europe several times last year for "face to face" meetings. He attended one, and nothing got done and a lot of people wanting to hear themselves talk. I've been in a situation in which I tried to go to a local conference in my city to learn more about my field, and I was denied due to being too expensive. Meanwhile our president and a few of his buddies went out to San Francisco every two to three weeks for some conference. He wasn't involved in any account management like I was, but somehow the information I could use wasn't important. Give me a break. I've seen crap like that too often.
If I hear, "we don't have the money for training" when you see so many upper leaders pat themselves on the back with 20% raises every year and traveling the globe for some BS conference to hear themselves speak. It's a load of crap, and you are blind to see it.
Millennials - There's nothing wrong with you, you're just young. You can pick on old Sue if you want, but remember she was breaking ground just to get into the workforce. Maybe she served coffee and smiled kindly on the spot for a lot of people who blew smoke in her face as the generation before her conducted business that was often influenced by other things. The whole generation was told they were paying into a system that would care for them and really loyalty was the key to having a long career. Work hard, get the home and pension, social security and medicare will take care of all. As long as you owned your home, what costs would you have? Medical care was cheap and neighborhoods provided for old people on their own. Getting a job took a shower, some fresh clothes and literally walking to a local plant and signing on. Remember, no internet and just the national news were your inputs.
Their generation started to get the information out. Vietnam was a disaster and was the country's first actual defeat in living memory. The dollar's value was unsustainable. While Sue was breaking ground for women, it started a wave of new people to the workforce. Integration was on the move and wages were sinking. Around the world, industrialization that had been destroyed in WWII was rebuilt, and the new designs were more efficient than the older factories in the US. Imports started to hit hard. Manly men used to settle disputes with fists were suddenly beaten by laws and regulation.
Salvation was kept in the Government. Social Security cuts were words that would kill any politician. Somehow Reagan had this new math that would allow spending and cutting taxes. The cold war was won, but the home front was still stagnant. Households were maintained with both parties working. The traditional strong attributes were trivialized and replaced with a cocaine sniffing, sex maniac trading bonds and winning regardless of what happened. The world got a lot bigger. The problems were overwhelming and divided attention. The solutions were horrid and botched. Nobody could focus attention on the 8 ball because nobody could agree what it is. The group that wouldn't be fooled again had made the world so big they couldn't see anything.
It was GenX that called the ruse what it was. The government had no means or want to pay for your retirement, your sick, your drugs, protect your industries and jobs or keep you safe. If our parents didn't divorce, our friends' did. They moved away. That easy comfort the generation before had from organizations was gone. We didn't get the pensions. When we took a job, it was to replace multiple others. There were a lot fewer of us, yet the old guard wanted all of their traditions maintained. Do Bob, Pete and Mark's job, but you don't get the company car, the country club membership and we don't know anything about change management, so you're basically going to have to bust our balls if you want technology to make the process more efficient. When it came out, we were lazy, and going to make computers do everything. If you see an old joke book, you'll see a lot aimed at computers.
The race was simple. Remake the world before the Baby Boomers could lose it all. They were paralyzed between believing what the numbers were saying and succumbing to the old comforts. The chorus of dude, f*ck you was muttered and we kept going. Slowly winning over the boomers to face reality.
And then this chipper bunch of sh*theads shows up. F*ck*ng positive and the world is good. Take my spreadsheet that I've worked a long time to get mgt to look at and just run off with it. Yes, you took the process time down from a day to 20 minutes, but it's wrong, and I'm going to be a sour d*ck because now I have to go back and rebuild it. So I really need you to listen and not be insubordinate. I don't want your glory. Besides the boomers will keep it all anyway. Just work with me and let them have it. The problem is, I had to work damn hard to get my computer to spit out things with the accuracy they now expect. If you have sales numbers that are different, they will see that. They won't care that they are off $5K on $5M, they will want to know why. I'm not doing anything bad, I just don't want to explain that sh*t to them. So you are efficiently creating more and more work for me to clean up what you're doing wrong. Knock it off.
Just do your job. I want you to do it this way because that's how I can teach you. Once the job is done, then you can do extra credit. But if I don't get to it in the 30 minute timeframe you have in your mind, that does not make it ok to go and implement somewhere.
So pretty please with a grain of salt, just do it my way. I'm trying to teach you, but it annoys the sh*t out of me that you think you can bring your phone in here and text all day. You do realize that Boomers actually get up and walk around the building and see you. They don't yell at you. They yell at me. See that's how it works.
So if you keep up your brilliance, I've got just enough tech to lock you out of the databases. You're not the CEO. You don't even get to talk to the CEO. When you do, he will be nice to you, and then he will say, it sounds like that department doesn't have enough to do. You don't believe me, because that isn't logical. Or you don't care because you can just go someplace else, but I don't have time to track you down.
And then you wonder why you're unemployed. Look, I want to like you. I want to work with you. If you want to be an entrepreneur, then go do it. You work in a company though. When the boss fires out that this should be easily automated and you stupidly blurt out that you agree, without getting the specifics nailed down from him you've just set us up for a no win situation. He has something in his head. You have something else. Actually, even if they are the same, it doesn't matter. When we present, it will be the vision in his head at THAT time that will let us know we did it wrong. Old Boomers know how things work, and aren't above playing tricks. I had to learn all of that once. Don't make me pay for your tuition too. Because even if you can run a race in 20 minutes that takes me 2 hours, I have 4 races I need to finish. Creating 20 races nobody wants doesn't change that.
Millennials - There's nothing wrong with you, you're just young. You can pick on old Sue if you want, but remember she was breaking ground just to get into the workforce. Maybe she served coffee and smiled kindly on the spot for a lot of people who blew smoke in her face as the generation before her conducted business that was often influenced by other things. The whole generation was told they were paying into a system that would care for them and really loyalty was the key to having a long career. Work hard, get the home and pension, social security and medicare will take care of all. As long as you owned your home, what costs would you have? Medical care was cheap and neighborhoods provided for old people on their own. Getting a job took a shower, some fresh clothes and literally walking to a local plant and signing on. Remember, no internet and just the national news were your inputs. .
Did you have a point? Because I have no idea WHAT you are saying.
"I disagree that Microsoft is a game company, majority of today's PCs still run Windows and that's a fact. "
Uh...that's a bit misleading for a number of reasons
1) To what manner and what extent does a operating system really "matter" relative to internet access?
2) What specific companies make software that *only* runs on windows fully knowing that fewer platforms means less profit?
3) How meaningful is the PC market given the rise of smartphones and tablets and increasing internet enabled TV's?
Yes I know of some software packages that are mostly on windows. However, there is nothing preventing me or pretty much any group of people from reverse engineering it and developing an open source product for a non profit basis. LibreOffice is practically MS Office granted it's more like Office '07.
"The only reason they are becoming less valuable because consumers like you don't need to refresh your PCs as often as needed and also dumber devices like tablets and smartphones can also do web and facebook. 90% of businesses still use Windows and license with Microsoft. "
Not exactly. I worked for a major retailer that uses linux and just installed libreoffice on all pc's. Why not windows? Why bother? More licenses means more costs. Even with areas with windows I see large proprietary systems using old DOS programs running in emulation. Their original programmers died off gradually to the point where they have no real programmers now. Use it until it dies or has a major crash.
"They are trying to become a more consumer friendly company than just business oriented since they dominate business computing and they can't grow anymore without consumer market which Apple and Google is rising fast."
But that's also because they have some major issues.
Show me an innovation of microsoft..
How many use windows mobile? How many used Windows CE? How many have to really use office? Why did Massachusetts go to the open xml standard years ago?
I know of many places that still use XP. Upgrading to the latest and greatest does not always provide more profit.
For microsoft to really sell software it has to fight three basics.
1) the old version works fine
2) open source versions work fine
3) the developing world might be pirating it
Then factor in the actual competition from apple and others.
Everything these days is unix based. Mac OS came from NeXT. NeXT came from freebsd. Android is pretty much linux, kindles use linux, nook uses linux, Chrome and so on. The last 15 years what has happened is Apple took the high end market for those willing to pay a premium, linux took the low end and developing world and Microsoft pretty much just sat there.
"Remember, no internet and just the national news were your inputs. "
Huh? Preinternet shortwave had (still has) stations from around the world. AM radio at night can provide for stations domestically in other cities with ease. I'm close to Boston and I can receive NYC, Charlotte, Philly and even Detroit a few times.
"Oh the horror, companies are making a profit, does not change the fact that they are all working under a budget, the bigger the company is the harder it is to give one level of employee a raise without blowing up the bottom line."
Um....how many business books and classes have you taken? Do you know what razor blade theory is? Competition is more than simply just creating a profit. amazon for example is not exactly raking in the dough vs its competitors. If you can force a competitor out by being more efficient then that alone can be worth more than profit. If companies constantly focused on just price don't you think we'd see prices on everything drop by now? If you have two companies have a product that is the same and same price eventually unless they want a price war they'd have to innovate on some level. Marketing can only go so far.
I know there has been much debate about raising the minimum wage. Companies like Walmart and McDonalds actually WANT this to happen. Why? Because they can afford it and others cannot. Any time there is a policy or competition to drive costs up only the stronger organizations survive. Just like with jobs if an employer raises standards it shuts out some applicants.
I will briefly sum up a few points is that there is a misconception that the Millennials are lazy and etc when the boomers and Gen X did the same thing when they enter the workplace. Now the best point is that the work place is changing, and in a sense Gen Y is adapting to it. The best example of Gen Y being perceived as lazy or not loyal is the fact that we, as I'm a millennial, have seen so many companies in the last decade cut benefits, lay off people who were loyal to the company for years, and even fire people for simply not agreeing with a manager on every idea they had. That last part is true as I've seen it and eventually got out of that environment.
To be honest that is my biggest beef with the working world nowadays is the mentality of companies treating people like a thing or a statistic instead of treating them like human beings. I don't mean we need our hands hold everyday or anything like that, but the fact I've seen managers never thank anyone and just nitpick everyone's ideas that aren't their own is too common. The mentality that we can easily replace you, but you should be 100% loyal to us and not question us is ridiculous. If company loyalty payed off like it used to 50 years ago I will agree with the perception that we are entitled, but seeing managers and the environment treating everyone like crap shouldn't equate to "I turn a blind eye and be a robot yes man while waiting for a pink slip due to not executing the company vision and mission statement a 120%."
Some of you will say I'm exaggerating, but truthfully they are many places that act that way. I know I'm not the only generation who has been mistreated this way, especially in the last 10 years. It is an economic issue; however, the biggest difference between my generation to Gen X and boomers is we are at the beginning of our careers, and we still feel like we can shape the future by being vocal and trying to change things. No offense to the older generations, but you are at the twilight or nearing the end of your peak. It's the fact of life as most Gen Xs are in their 40s and boomers are closer to retirement which basically leaves Gen Y as the bulk of the workforce.
Anyway, these are my thoughts and hopefully the conversation will stay civilized.
There are many places that operate that way. Corporate America is a place where the weak don't survive. I've seen it get uglier as the years go by. I don't like it anymore than you do so . . as you get promoted into higher management (you as in your generation) - change it! Younger people than me are now getting promoted above me and they seem just as cutthroat but what do I know. I'm 50 and on my way down . . not up, right?
You should not be loyal to company or have any thoughts of being loyal because you are right - they will replace you in a heartbeat with someone cheaper if they think they can. Understand that this mentality is not mine and I'm at the tail end of the boomers and it has impacted many of my generation as well.
Quote:
Originally Posted by thatguydownsouth
Companies no longer give decent raises each year, so in order to get pay increases like the older generation used to get we change jobs every few years. Changing jobs will get you about a 10% increase in my field. Whereas our yearly raise is typically just at or below inflation. Also a company will ditch you in a heartbeat if the numbers just arent there, so we will do the same to the company. All is fair in love and war. And these days the job marketplace is war.
Changing jobs within the same industry has long been a fast way to get a raise. Unfortunately, these days, it's the ONLY way to get anything other than a 3% raise. Companies today think we should be grateful just to be working there. Heck, maybe we should pay them.
One difference is that we boomers didn't have the luxury of changing jobs whenever the mood struck us. We had families to raise and mortgages to pay. Plus in our day, if you moved around very much you were quickly branded as unreliable.
Every military family I knew growing up moved around quite a bit.
You also have to remember that the costs of moving were much higher then today. Deregulation made airl flights much cheaper. There was not Jet blue or southwest airlines back then or at least not as big.
And that was also before there was much in the way of automation.Accounting pre excel, pre lotus 123, pre vis calc was all by hand. There's now way with todays complexity that can be done today. Long distance phone calls took ten minutes to connect and tv actually signed off at night
There are many places that operate that way. Corporate America is a place where the weak don't survive. I've seen it get uglier as the years go by. I don't like it anymore than you do so . . as you get promoted into higher management (you as in your generation) - change it! Younger people than me are now getting promoted above me and they seem just as cutthroat but what do I know. I'm 50 and on my way down . . not up, right?
You should not be loyal to company or have any thoughts of being loyal because you are right - they will replace you in a heartbeat with someone cheaper if they think they can. Understand that this mentality is not mine and I'm at the tail end of the boomers and it has impacted many of my generation as well.
Changing jobs within the same industry has long been a fast way to get a raise. Unfortunately, these days, it's the ONLY way to get anything other than a 3% raise. Companies today think we should be grateful just to be working there. Heck, maybe we should pay them.
I agree with you about corporate America. I do think we are nearing a breaking point in which companies realize that treating people like crap costs more in the long run due to people jumping to another job, and the lack of training. Eventually a company is going to reach a breaking point that they can't cut anymore to save money and increase the bottom line as they'll need to focus on investment into their employees and growing the business.
One difference is that we boomers didn't have the luxury of changing jobs whenever the mood struck us. We had families to raise and mortgages to pay. Plus in our day, if you moved around very much you were quickly branded as unreliable.
Sometimes, one has to change jobs just to get a raise. For example, in my current position, I will only get a 20 cent raise per year if I stay. Yeah, that's right 20 CENTS. I am sure my rent will go up next year by a heck of a lot more than 20 cents. I currently make $10 an hour in a moderately skilled position that requires technical knowledge and knowledge of several different software programs. If figure, if I were to stay here for the next 20 years, I will make like $14 an hour by the time I retire, which I won't get that luxury in this position.
One difference is that we boomers didn't have the luxury of changing jobs whenever the mood struck us. We had families to raise and mortgages to pay. Plus in our day, if you moved around very much you were quickly branded as unreliable.
I think this is wrong as the job hopping trend started in the 80s with the boomers. My dad, his friends, etc jumped around a bit in the mid 80s before they started to have families.
the problem as I see it, is a rampant sense of entitlement. Nobody "owes" you a job or a living. You earn the respect and loyalty of a company by being a valuable resource. Jobs aren't your mother. There is no obligation to be "nice" or "fair" or any of that. The only obligation an employer has is to pay you for the work you do. Period, end of sentence. Anyone who thinks there is any other obligation is delusional.
If a company finds a better employee or a cheaper one, then you are going to be out of a job. That is why you work very very hard to do the best job you possibly can every day to be a valuable asset to your employer, so you get to keep your job.
It's never been any other way.
20yrsinBranson
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