That Seems Like a Lot of Hard Work
I saw an article in the last couple of days that has me thinking. According to the piece I read, an executive at an investment firm was looking to hire an investment analyst. He had narrowed his choice down to one potential candidate and expressed to the individual he was interested in going to the next step. For his firm, that meant asking the job seeker to do some work in a spreadsheet that would give the hiring firm a chance to see the candidate’s real-world abilities. The potential employee was having none of that. Almost immediately, he responded that what his prospective new employer was asking for was a lot of work, could take 90 minutes, and he wasn’t going to work on the project without an understanding of the firm’s intent. Without hesitation the senior partner responded that he now knew what he was going to do, and he wished the candidate well.
The request the hiring firm was making doesn’t seem unreasonable. In fact, the firms I have worked with in the past have all done some form of this to identify the skills of hires that are specialized or technical. Investment firms almost always deploy this hiring practice; it is easy to see why. A person could have all the right bullets on a resume, but not have the ability to analyze an investment thesis. I could also argue this practice is better for the new hire. Nothing is worse than getting a job and not being able to meet the demands of the job.
Imagine the shock of the hiring manager when he posted his experience on social media and was immediately overwhelmed by people taking the side of the young man who pushed back.
Many young people see the world differently than their older counterparts. Whether they are the youngest millennials or older Gen Zs, their view of work seems to be a stark departure from how the US economy has operated for the last four decades; and so, I decided to dig deeper into this. My initial impression was that the number of hours that Americans work annually had risen since the days Milton Friedman espoused the view that companies should operate for the benefit of shareholders. I assumed the intense drive of capitalism and the pursuit of individual wealth would naturally mean people were working more hours. I was wrong. To the contrary, since 1970 the total hours an American works on an annual basis has slowly declined. Simply put we work a lot less than we have historically.
So, what gives? Are young people wanting to work less than we do now? There may be some of that, but my hunch is, that isn’t true. Sure, it is easy to say people don’t want to work anymore and it is a common refrain you hear from mature adults. I just don’t think it is true. My guess, and it is a guess, is there are several things happening.
First and foremost, young people are serious about finding a work/life balance. That phrase has been used and overused for decades; mostly because we all talked about it but none of us were willing to take the steps to secure anything close to that type of balance. Interestingly, young people are committed to living their life that way, and they are afforded that opportunity because there are lots of alternative options to make a living without following the traditional path. I have a dear friend whose daughter recently graduated from college and was poised to jump into the corporate game. She would have been a great addition to countless firms. However, that wasn’t how she was thinking, she started her own digital branding company, and two years later is killing it. She is also doing it on her terms. She doesn’t have to worry about when she works, she works when she wants to; and she works a lot. But to the outsider, who doesn’t know her situation, she could be viewed as another Gen Z who didn’t go get a real job. She is super impressive, and she portends what we might see in the future.
Another possibility is young people aren’t interested in working in the typical jobs and roles that were the traditional path. There are seemingly unlimited ways to make a living, and Gen Zer’s aren’t afraid to follow that road. If you can make a living following a path that is different than your parents’ and it meets your needs, why not? Often it is easy to complain that young people don’t want to work because they won’t do the jobs we would do. I think that misses the point. Don’t underestimate how much commerce is being done we don’t see.
It could also be true that younger people don’t value the pursuit of money as much as their parents. I don’t know if this is true, but you get the sense that the pursuit of the C suite and big dollars doesn’t drive their generation like it did mine. When I think about it from this perspective I wonder if the potential lack of hunger for socioeconomic advancement, is a byproduct of having a standard of living as a child that was so high they take it for granted. I don’t know how much weight to put on this, but it is interesting to consider.
Finally, it is entirely possible this young man suffered from an inflated sense of self-worth and entitlement. As a member of the older generation, it is easy to quickly label that the answer and move on. It fits a simple narrative and may be true in some cases, but it also is overstated. The overwhelming majority of young people are good, hard-working, industrious people; they just see the world through a different prism.
Which brings me to my main point, how is this going to play out? It is hard for older, established people and organizations to adapt. It is also likely very hard to imagine the young generation suddenly conforming to the world as we see it. They have grown up in an environment where they are used to getting what they want. Have you been to a college campus lately? It is frankly stunning how nice the facilities are. They are matriculating at a resort and all their needs are made simple. When you are accustomed to that life, it is hard to suddenly accept a role on the bottom of the pole.
In my view there was nothing wrong with the investment firm seeking more certainty in the hire. At the same time, if the young man wanted to exert his ability to accelerate the conversation without spending time serving the “man”; so be it.
The real question is what do we do about this? I don’t know. I assume we will likely meet in the middle over time. Companies need young people with talent and skills. Young people will want opportunities that come with the robust marketplace. It will be interesting to see.
After ruminating on this, I don’t know what the answer is. It seems like a lot of work to figure it out.
