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Who are the Millennials?. (and why we need to understand them). What is a “Generation?”. “A cohort group whose length approximates the span of a phase of life and whose boundaries are fixed by a peer personality” Phases of Life…Elder, Midlife, Rising Adulthood, Youth
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Who are the Millennials? (and why we need to understand them)
What is a “Generation?” • “A cohort group whose length approximates the span of a phase of life and whose boundaries are fixed by a peer personality” • Phases of Life…Elder, Midlife, Rising Adulthood, Youth • Peer personality…a generational persona recognized and determined by a common age, belief system, behavioral characteristics and perceived membership in a common generation.
Generations We Know • “G.I.” Generation: Born 1901-1924 • “Silent” Generation: Born 1925-1942 • “Boomer” Generation: Born 1943-1960 • “Generation X”: Born 1961-1976 • “Millennial” Generation: Born 1977-1998
About those Millennials… • Children of Baby Boomers • Younger siblings of Gen Xers • Largest generation after the Boomers (80 million) • Average age of mothers is 27 (in 1974 it was 24.4) • 40% of this generation are firstborns
About those Millennials… • 25% have at least one parent with a four-year college degree or higher • 38% identify themselves as “non-white” • 14 million Millennials are the children of immigrants • Spread over more families but fewer siblings = greater parental attention
Generation Y Generation WHY Generation Next Echo Boomers I Generation Net Generation Digital Generation What’s in a name?
Optimistic Hopeful Connected 24/7 Independent Techno-savvy Determined Goal-Oriented Rule Followers Success driven Diverse Global-, civic-, and community-minded Lifestyle-centered Patriotic Structured and scheduled Characteristics
Beliefs • Education is important and worthwhile • Integrity is admirable • Parents are role models • I am special and unique • Leave no one behind • Achieve NOW!!
Defining Life Experience • Children are on a pedestal vs. “seen and not heard” • Gov’t has taken an increased role in legislating on behalf of children (child labor laws, consumer product protection, airbag safety, internet regulations) • Parents define themselves in terms of their children • Parents are making work-life choices to allow for more time with children…most “hovered over” generation • Fathers are more involved in parenting
World Events • Columbine High School Tragedy • September 11th, 2001 • Enron, WorldCom • China and India as emerging nations • Nuclear threat from North Korea • Growing occurrence of asthma, ADD, obesity
Technology • 97% own a computer • 94% own a cell phone • 76% use Instant Messaging • 15% are logged on 24/7 • 34% use websites as primary news source • 75% of students have a Facebook account • 60% own an iPod or the equivalent
Accept diversity Practical Self-reliant Mistrust Institutions Use technology Multitask Latch-key kids Friends first, not family Celebrate diversity Optimistic Self-inventive Institutions are irrelevant Assume Technology Multitask….FAST Nurtured Friends=Family Generation Xvs.Millennials
Work well with teams Collaborate, resourceful Seek to make a difference Love a challenge Want to produce something worthwhile Thrive on flexibility/exploring Value guidance Impatient Intolerant of “scut” work Need gratification NOW Expect (demand) respect Unwilling to “pay dues” Appreciate rules, but “I” should be different Millennials at Work
But seriously…why… • Do they not understand “no”? • Must they ask the same question 100 times? • Does everything have to be unique? • Do they not read that which is provided? • Do they seem so entitled?
Resources • Wikipedia: http://en.wikipedia.org/wiki/Generation_Y • http://www.cbsnews.com/stories/2007/11/08/60minutes/main3475200.shtml • http://www.deloitte.com/dtt/cda/doc/content/us_consulting_millennialfactsheet_080606.pdf • http://www.generationsatwork.com/articles/millenials.htm • Millennials Rising: The Next Great Generation Author: Howe, Neil; Strauss, William