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Who are the Millennials?

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?

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  1. Who are the Millennials? (and why we need to understand them)

  2. 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.

  3. 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

  4. 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

  5. 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

  6. Generation Y Generation WHY Generation Next Echo Boomers I Generation Net Generation Digital Generation What’s in a name?

  7. 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

  8. Beliefs • Education is important and worthwhile • Integrity is admirable • Parents are role models • I am special and unique • Leave no one behind • Achieve NOW!!

  9. 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

  10. 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

  11. 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

  12. 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

  13. 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

  14. 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?

  15. 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

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