 Who are the Millennials? a.k.a Generation Y
by Deloitte Consulting LLP
Demographics…
• No definitive agreement on birth years; experts say somewhere between 1978 and 1995; most say 1981 to 1993
• Children of Baby Boomers
• Younger siblings of Gen Xers
• Largest generation (75 million) after the Boomers (80 million), compared to the Gen Xers (40 million)
• 38% of millennials identify themselves as “non-white”
• Positioned in history to be the next “Hero generation”
What they're called..
| • Generation Y |
• Boomlets |
| • Generation WHY |
• Baby Busters |
| • Generation Next |
• I Generation |
| • Nexers |
• Net Generation |
| • Millenniums |
• Netizens |
| • Digital Generation |
• Gaming Generation (along with younger Gen Xers) |
| • Echo Boomers |
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| Characteristics… |
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| • Techno-savvy |
• Success driven |
| • Connected…24/7 |
• Lifestyle centered |
| • Self-confident |
• Diverse |
| • Optimistic |
• Inclusive |
| • Hopeful |
• Global-, civic- and community-minded |
| • Independent |
• Pulling together |
| • Comfortably self-reliant |
• Service oriented |
| • Determined |
• Entrepreneurial |
• Goal orientated |
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Beliefs…
• Education is good
• Integrity is admirable
• Parents are role models
Defining life experiences…
• Grew up basking in “The Decade of the Child”—children on a pedestal vs. “children should be seen and not heard”
• Fathers became more involved in parenting
• Came of age during a time of incredible change and scandal within modern organizations
• Most “hovered over” generation ever in our country; unprecedented parental supervision and advocacy
Defining life events…
• Columbine High School
• 9-11
• Enron, WorldCom, etc.
• War in Iraq
• Nuclear threat from North Korea
• Emerging nations—China, India Impact of technological advancement…
• Never experienced life without computers
• Reverse accumulation of knowledge—the younger you are, the more you know
• All information is a click away; so is the competition
• The world is a click away
Millennials at work…
• Work well with friends and on teams
• Collaborative, resourceful, innovative thinkers
• Love a challenge
• Seek to make a difference
• Want to produce something worthwhile
• Desire to be a hero
• Impatient
• Comfortable with speed and change
• Thrive on flexibility and space to explore
• Partner well with mentors
• Value guidance
• Expect respect
Quotes about Millennials:
“…The Millennial Generation will entirely recast the image of youth from downbeat and alienated to upbeat and engaged—with potentially seismic consequences for America.”
— Neil Howe and William Strauss from “Millennials Rising.”
“Organizations that can’t—or won’t—customize training, career paths, incentives and work responsibilities need a wake-up call.”
— Carolyn A. Martin and Bruce Tulgan from“Managing Generation Y.”
“…Boomers have given them the confidence to be optimistic about their ability to make things happen, and Xers have given them just enough skepticism to be cautious…If you want to remember just one key word to describe Millennials, it’s realistic.”
— Lynne C. Lancaster and David Stillman from “When Generations Collide.”
“They know the way things go down and are no longer naïve about the workings of the world and the intentions of businesses and other organizations.”
— Peter Sheahan from “Generation Y: Thriving and Surviving with Generation Y at Work.”
“Although they are better educated, more techno-savvy, and quicker to adapt than those who have come before them, they refuse to blindly conform to traditional standards and time-honored institutions. Instead, they boldly ask, ‘Why?’”
— Eric Chester from “Employing Generation Why?”
“They combine the teamwork ethic of the Boomers with the can-do attitude of the Veterans and the technological savvy of the Xers. At first glance, and even at second glance, Generation Next may be the ideal workforce—and ideal citizens.”
— Ron Zemke, Claire Raines and Bob Filipczak from “Generations at Work.”
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