Why I Disagree with CNBC on Millennial Experiences

As leaders, it’s our job to create an environment where people  can be empowered to do their best work. Part of this process requires that we do the work of understanding our team and establishing a culture where they can thrive. Many leaders, unfortunately, look to commonly accepted stereotypes in order to engage their employees.

And this is especially true of millennial employees.

One of the ideas commonly associated with millennials is the way they value experiences over items. This stereotype was promoted again recently in an article posted on CNBC.com. As the headline suggests, someone assumes that valuing experiences is a new trend unique to the millennials.

Clearly, someone has not looked at history.

And someone does not know about the most iconic watch in history.

Wait. Watches? What do timepieces have to do with how millennials value experiences? Do we even wear watches, especially non-smartwatches, anymore? I mean, have millennials owned a watch since their Mickey Mouse watch in elementary school?

I’m glad you asked.

Let’s start with the connection between an iconic watch and how millennials value experiences. The watch in question is the Rolex Submariner. This watch, which debuted at a watch convention in 1954, reveals more about the time in history than it reveals about Rolex.

Think with me for a minute: in 1954, we were 9 years beyond the end of WW2. The troops were home, many had completed college, and they were in the workforce. Now that the strain of wartime was over, the economy was beginning to thrive. Advancements in transportation began making it easier for more people to travel longer distances, and having discretionary income gave people the opportunity to explore new hobbies.

One of these new hobbies? Diving.

With money to spend and a heightened emphasis on leisure, people began exploring the oceans like never before. As more people became divers, people needed the tools to dive. One of these tools is a dive watch that can withstand the pressure of being underwater, be seen in sometimes dark waters, and can quickly indicate how much oxygen is left in the tank (ever wondered why your dive-style watch has 10 minute increments?).

As a result, Rolex created the Submariner, the watch that has since become the most iconic watch in the world. It’s the watch Sean Connery wore as James Bond. It’s the watch military divers around the world have used for decades. It’s the watch that many other watch companies try to replicate.

And it’s the watch that tells us something about millennials and experiences.

You see, this watch shows us that every generation values experiences. The difference is how different generations demonstrate that values. The adults of the 1950s showed they value leisurely experience, and thus bought a dive watch. Millennials value interesting experiences, so we eat at every sushi place in town.

What does this mean, then, as a leader?

Simple: since every generation values great experiences, think about how you can create great experiences for your team. It could be a catered lunch, coffee from a local coffee shop, zip lining, or something else unique to your team.

Whatever experience you choose, don’t make the mistake of assuming your millennials are the only ones who value experiences. Everyone on your team wants great memories, so do the work to give them experiences they will never forget.