"Talent Wars, Human Assets, and Millennial Myths" Anya Kamenetz April 21, 2009

Faces of a Generation? \

*Biggest generation ever—95 million *Most diverse & most tolerant *Digital natives *Idealistic *Egalitarian *Value time over money *Value family Millennials: The Good

*Biggest generation ever-They’re taking over! *Most diverse & most tolerant-Anything goes *Digital natives-Screen addicts *Idealistic-Unrealistic/Entitled *Egalitarian-No Respect! *Value time over money-Don’t understand the value of money. Won’t commit to a job. *Value family-Boomerang kids& apron strings… Millennials: The Bad

Personal Satisfaction Making A Difference Making Connections Making A Living Millennials: What’s on Their Minds?

Techno-PoliticalEconomicSocial Millennials

Technological Millennials

1/28/20099 Activity pyramid: Online pursuits by generation The vast majority of online adults from all generations uses and search engines. While there are always exceptions, older generations typically do not engage with the internet past e-commerce. The majority of teens and Gen Y use SNS, but fewer maintain blogs. Less than a fifth of online adults older than Gen X use SNS. Generations Online in 2009 Basic online entertainment (online videos, playing games) E-commerce (online shopping, banking, and travel reservations) Research and information gathering (product research, news, health and religious information searches) and search Active engagement with social media (visit SNS, create SNS profile, create blogs) More advanced online entertainment (download videos, music and podcasts) More advanced communication and passive social media use (instant messaging, visit SNS, read blogs)

Political Millennials

They Voted For OBAMA 2 to 1…

Now They Want Answers. Survey of 2000 students: "What is the one question you would want to ask the future president?” College costs and future employability were top of the list. Increasing unemployment rates are raising concerns amongst students that they will not find the jobs they need after college to pay back those hefty loans. Source: Campuscompare.com

Economic Millennials

BA: $50,000/yr High School Dropout: $23,000/yr

Full 4-yr Cost of PUBLIC BA: $116,772 Source: College Board

mostly Loans <---

*Two-thirds of BAs have federal student loans. (less than ½ in 1993). *Average indebtedness: $22,500+ *Private loan borrowing grew by more than 900 percent between 1995–96 and 2005–06. *10-year default rate for the highest borrowers: 1 in 5. And rising. Loans Are a Way of Life.

(wages are stagnant)

(9 jobs in first 10 years)

(freelance, temp, contract, part-time, permalance, permatemp…)

(competition is global)

(30% are uninsured)

(what retirement?)

Credit Card Debt: New Normal

Yet, they’re still optimistic… 50% of college students and recent grads feel the job outlook is still positive, and nearly a quarter (24%) believe the job market is stronger than depicted by national media. 75% of Gen Y says the value of their education will increase or remain the same in this market. The confidence level of Millennials is much higher than that of the general population. Source: Experience.com

Social Millennials

Personal Satisfaction Making A Difference Making Connections Making A Living Millennials: What’s on Their Minds?

Tap into that optimism!

Give them flexibility.

Engage that idealism.

Even “friend” them online.