I have been reading a lot lately about Generation Y and how evidently it will be the fall of western civilization. I did quite a bit of research about them for my last employer because they hired predominantly entry level, college grads in its management training program. There are some fears about who is coming out of this group and I politely disagree. I am here to make the case for this group and tell you why everything will be ok. Now, realize that I am technically part of this generation, depending on who is talking, so I might be biased as well.

Generation Y is the biggest generation in the history of the United States. People sometimes call it the “Boomlet” which is weird because it is larger than the initial Baby Boom. There are roughly 70 million people in Generation Y according to NAS recruitment and the US Census compared to the 48 million in Generation X. Now these numbers are both skewed, because each generation claims the people born between 1978 - 1982. The size differential causes some major responsibilities for the next generation. This means that the best and the brightest of Generation Y will be required to fill the hole left by the baby boom retirement. It will mean rapid promotions for a few and taking more business responsibilities earlier in their career. If you ask me, they will fix the housing crisis too.

Here are some great things about Generation Y. First, they are the most technologically advanced generation. They grew up with computers and have an aptitude that is unrivaled. Second, they are the most well educated generation as well with a larger percentage going into higher education past high school. Third, they have handled increased pressures than previous generations with high aptitude test scores, better grades, and more extracurricular activities. Fourth, they have an extremely high achieving female population which is just as educated as the males, and better performing in school. If you don’t believe me, find a local school that had a male valedictorian. There are twice as many female valedictorians than males.

Here are the problems. First, this is a generation that has been given the expectation that everyone should have self esteem handed to them, rather than self esteem being something that is earned. The idea is that everyone makes the team and everyone is special at the same time. Everything surrounds group projects and team efforts so it is harder to find the best and brightest if you are scored for the group. Second, this generation is in more debt starting their career than any other. Students have high salary expectations because of the debt incurred. How can you come out of school with $90,000 in debt and take a $30,000 a year job. Third, the materialism is embedded in the culture. It is all about the right purse or sneakers and those are the things that are valued. A person who goes in debt for a Fendi purse is richer than someone who saves but has none of the toys to show for it. The cultural change of My Super Sweet16, The Hills, or Meet the Kardashians create a celebrity culture based on wealth and not talent. The examples given are all real problems that our nation will have to deal with.

Here is why companies should take notice. First, In the next few years the price for entry level employees will go down because the market will be flooded with applicants. The 2008 high school graduation class was the largest in US History. You will be able to be choosey for your interns and your new hires because the competition will be there. Second, the learning curve will be shorter because of the technical knowledge of the new hires. They will be able to make better presentations, be up on new solutions for your company, and could probably fix your computer. Third, the generation Y is more socially involved in community service and can help support and even pioneer social efforts for a company. It will build the company image and brand without costing a thing. Fourth, they are a large consumer group that will be coming out of college and putting all their hard earned money into the economy. If you are a wedding dress manufacturer, entry level home builder, or hybrid car producer, be ready for windfall profits.

Ultimately, I believe that the expectations for Generation Y workers are going to drive them to do better and achieve more. After a small amount of floundering, I think you will see the overachievers rise to the top and start earning the blackberries, laptops, and income they expect. I believe the people who have been told they were amazing their whole lives will be motivated to live up to that standard rather than crumple under realities of the world. All this pontificating about the future of the world will be resolved in time but I know at least for myself, I am ready for the challenge.