the millennial generation: who they are & why you need them
TRANSCRIPT
THE MILLENNIAL GENERATION
WHO ARE THEY? WHY DO YOU NEED THEM?
with Morgan Smith
WHAT DESCRIBES A MILLENNIAL?
LAZY
ENTITLED
COMPETITIVEWINE LOVERS
TECH SAAVY
COLLABORATIVE SOCIAL
ANTI-RELIGIOUS
NARCISSITIC
BRATTY
ENTREPRENEURIALCODDLED
DEBT SADDLED
LIVING WITH THE PARENTS
BAD EMPLOYEES
CHEAP ADHDLIBERAL
CONSERVATIVE
EDUCATEDSTUPID
MILLENNIALS ARE…DIVERSE.
18%
26%
22%
24%
10%
POPULATIONBYGENERATION
Gen Z
Millennials
Gen X
Boomers
Greatest
2014 Estimates
1980 – 2000
MILLENNIALS
16 – 36 YEARS OLD
MILLENNIALS
MICHAELb. 1982
JESSICAb. 1994
SHARED THEMES
Demand for WorkFocus on TechnologyBurden of Student Loan DebtLoss of Faith in Institutions
GENERATIONAL PROFILE
Our WorldviewGenerational ValuesPolitical AttitudesTechnology HabitsConsumption HabitsWorkplace Habits
83.1 MILLION MILLENNIALS
ECONOMICS
34% OF THE LABOR FORCEARE MILLENNIALS
8.1% UNEMPLOYED(4.7% NATIONAL)
12.8% UNDEREMPLOYED(10.4% NATIONAL)
LOWERLABOR FORCE
PARTICIPATIONBY 2022
Group ParticipationratePercentage-point
change
2002 2012 2022 2002–2012 2012–2022
Total,16yearsandolder
66.6 63.7 61.6 -2.9 -2.1
16 to 24 63.3 54.9 49.6 -8.4 -5.316 to 19 47.4 34.3 27.3 -13.1 -7.020 to 24 76.4 70.9 67.3 -5.5 -3.625 to 34 83.7 81.7 81.1 -2.0 -.635 to 44 84.1 82.6 81.8 -1.5 -.845 to 54 82.1 80.2 79.9 -1.9 -.355 and older 34.5 40.5 41.5 6.0 1.0
HIGHESTRATE OF EDUCATION OF
ANY GENERATION
70% OF COLLEGE GRADUATES
HAVE STUDENT LOAN DEBT
$1.2 TRILLION TOTAL STUDENT DEBT IN THE U.S.
DOUBLEDSINCE 1994
($32,000 AVG)
WAGES HAVE GROWN
60% LESS THAN THE GENERAL
POPULATION
CONSUMPTION
85%OWN A
SMARTPHONE
52%OWN ANDROID
44%OWN iPHONE
90%ARE ON
SOCIAL MEDIA
75%WANT TO OWN A
HOME (EVENTUALLY)
27MEDIAN AGE FOR WOMEN
29MEDIAN AGE
FOR MEN
25%MAY NEVER GET
MARRIED
CARSARE BEING BOUGHT BY
MILLENNIALS
69% FAVOR
MULTIMODAL TRANSPORTATION
HOTSPOT MILLENNIALS ARE MORE LIKELY TO FAVOR NON-CAR
TRANSPORTATION
75% BELIEVE CLIMATE CHANGE IS REAL
80% WANT SUSTAINABLE
ENERGY BY 2030
75%SUPPORT
INITIATIVES FOR SMALL CARBON
FOOTPRINT
POLITICS
1 IN 5 MILLENNIALS
VOTED IN 2014
50%DESCRIBE
THEMSELVES AS INDEPENDENTS
44%LEAN
DEMOCRAT
31%LEAN
REPUBLICAN
POLITICAL REALIGNMENTS
NEXT GENERATION LEFTHARD-PRESSED SKEPTICSYOUNG OUTSIDERS
Fiscal SpendingSocial Safety NetTrade BarriersBusiness HealthSustainabilityMarijuana Legalization
1,000+ PEOPLE160+ COLLEGES
80% WANT FAIR ELECTIONS OVER
THEIR CANDIDATE WINNING
64% WANT MONEY OUT OF
POLITICS AS A TOP ISSUE
83%VOLUNTEER IN
THEIR COMMUNITY
83.1 MILLION MILLENNIALS
WORKPLACE
THE MYTH OF JOB-
HOPPING MILLENNIALS
HOW TO RETAINMILLENNIALS
HOW TO ENGAGEMILLENNIALS
63%FEEL AS IF THEIR
LEADERSHIP SKILLS AREN’T
BEING DEVELOPED
SALARYIS THE #1
FACTOR OF JOB
SATISFACTION
100%SAY IT’S IMPORTANT THE COMPANY STANDS FOR
SOMETHING
75%OF THE GLOBAL WORKFORCE
WILL BE MILLENNIALS BY 2025
WAYS TO ENGAGE
- PEOPLE-FIRST - FLEXIBILITY- SUPPORT- COMMUNITY- TECH-FRIENDLY
“For Millennials, work isn’t just about income. It’s about personal enrichment and fulfillment. Previous generations wants job security and structure; they want flexibility and employability.”
WAYS TO ENGAGE
Constant FeedbackTeam-Based CollaborationFree Flow of InformationEncourage Contributions
WHY DO WE NEED THEM?
THEY ARE GOING TO CHANGE
EVERYTHING.
EVERYTHING.
MILLENNIALS INVENTED
SOCIAL MEDIA.
FACEBOOKMark Zuckerberg32 Years Old$35.7 Billion
INSTAGRAMKevin Systrom32 Years Old$400 Million
SNAPCHATEvan Spiegel26 Years Old$2.1 Billion
TUMBLRDavid Karp29 Years Old$200 Million
REDDITSteve Huffman32 Years Old$4 Million
MILLENNIALS THINK
DIFFERENTLY.
SPOTIFYDaniel Ek33 Years Old$400 Million
DROPBOX Drew Houston33 Years Old$1.2 Billion
Arash Ferdowsi30 Years Old$400 Million
AIRBNBBrian Chesky34 Years Old$3.3 Billion
STRIPEJohn Collison26 Years Old$750 Million
MILLENNIALS ACT
DIFFERENTLY.
Malala Yousafzai18 Years Old NOBEL
PEACE PRIZE
US DIGITAL SERVICEErie Meyer30 Years Old
TINDERSean Rad30 Years Old
MILLENNIALS ARE
HERE TO STAY.