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5 Productivity Lessons From the Millennial Work Style

5 Productivity Lessons From the Millennial Work Style

Gen Y workers are often maligned in the business world for their entitlement or self-interest, but there are several productivity lessons to be learned from the millennial work style. Companies like General Electric, Cisco Systems and Ogilvy & Mather have already leveraged younger workers’ knowledge through reverse mentoring sessions, in which junior employees teach upper managers and executives about social media, the Internet, workplace culture and even management practices.

Read on for a handful of productivity-centric lessons inspired by the unconventional work style my millennial peers and I have adopted.

1. Embrace experimentation

Millennials are notorious early adopters, eager to explore new tools or experiment with different ways of performing standard tasks. Many of us spent our grade-school years blogging, instant messaging, texting and playing video games to express ourselves and blow off steam; as young adults, we proactively seek out software, apps and daily practices that facilitate our “work hard, play harder” mentality.

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To leverage this entrepreneurial attitude, try out different work “shifts,” research and begin using a new productivity tool, or pick the brain of a colleague you admire. Strive to innovate and hone your existing workflows with the goal of creating new, more effective routines.

2. Be self-centered, in a good way

A common criticism of Gen-Y workers is that they’re self-centered, but this isn’t necessarily a negative trait when it comes to productivity. Millennials focus on their specific roles and responsibilities, execute them, and move on to the next task. Completing to-dos and getting work done is more important to them than being recognized in the office as the first one to arrive and the last one to leave. Whereas their coworkers might aspire to be the “go-to” person in the office ready to dispense advice and next steps, many millennials prefer to be recognized as the top performer.

Channel this focus on self over others when managing your priorities and workload. Evaluate how taking on additional projects or delegating tasks would influence your happiness and career advancement, and do your best to avoid sacrificing the former in pursuit of the latter.

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3. Learn from failure

Video games teach children that failure presents an opportunity to learn and try new techniques; combine that habit with the fearlessness of youth, and it’s no surprise that millennials aren’t as apprehensive of failure as their older coworkers might be. We learn by doing, and are okay with sacrificing efficiency in the name of learning a new skill.

While you may never shake your fear of failure, learn to recognize it as a chance to improve, learn and ultimately succeed in your future ventures.

4. Capitalize on instability

Considering the dismal economy, skyrocketing divorce rates, real estate crisis and credit crunch, millennials haven’t had much occasion to embrace stability in adulthood. We’ve had to hustle and become proficient at a variety of skills to compete in a rapidly changing job market.

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In a piece called “Generation Flux” for Fast Company, 26-year-old Pete Cashmore, the CEO of Mashable, touched on the need to embrace change and capitalize on instability. “I don’t have any personal challenges about throwing away the past,” he said. “If you’re not changing, you’re giving others a chance to catch up. Even if you know everything about a certain market now, in a few years you’re going to have to start from scratch like everyone else.”

Recognize that today’s innovation-driven business environment offers opportunities to revolutionize your work habits, proficiencies and attitudes toward work. Think of this change positively. “The typical mindset understates the risk of not changing and overstates the risk of change,” added Cashmore.

5. Motivation matters

Gen Y workers thrive on continuous feedback and mentorship. It’s easy to dismiss this behavior as needy or lazy, but positive mentors and team-oriented leaders give younger workers three essential things they need to stay engaged at the workplace: context, collaboration and communicated expectations.

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Molly Graham, a 27-year-old human resources professional at Facebook, spoke last fall at the HR Technology conference about the positive side of millennials’ entitlement complex:

Entitlement means someone who thinks they have a right to something, a right to know, a right to be part of a process, part of decision making. We have a different word for this. We want to build a company where people believe they have a right to something — we call it ownership. Everyone should feel like it’s their company, they are responsible for the success of the company, for their decisions… This, for us, is a good thing.

Channel millennials’ natural inquisitiveness by nurturing relationships with mentors and other superiors. If you feel a strong sense of loyalty to your boss and always understand the larger implications of your work, you’ll develop intrinsic motivation that incentivizes you to work more efficiently and effectively.

Conclusion

Despite these productivity advantages, millennials still have much to learn from older generations in the working world. The ideal office scenario enables employees of all experience levels to learn from each other’s strengths through regular collaboration and mentorship.

(Photo credit: Victor1558 via Flickr)

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Last Updated on June 22, 2018

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider consolidating multiple credit cards if possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to pay the full balance you spent each month at the very least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay extra when you can – every small amount counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a plan on how to pay extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out costs for services you do not use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get aggressive about it

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate your progress at set intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start knocking out your debt today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

Featured photo credit: Pexels via pexels.com

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