Presentation 4 Generation Y

944 views

Published on

The guide to Generation Y, or Millennials, of Digital natives, or whatever you want to call them these days. Originally prepared in 2006.

Reassuringly many of the insights still ring true.

Published in: Self Improvement, Education
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
944
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
23
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Presentation 4 Generation Y

  1. 1. ......Gen Y Born 1981 - 2001 Currently 11yrs – 30yrs
  2. 2. What is this? This presentation is one of five presentations outlining our understanding of Generational perspectives 1. The Theory of Generations 2. Boomers 3. Generation X 4. Generation Y, or Millenials 5. Applying generational perspectives to MarketingBorn 1981 - 2001 Currently 11yrs – 30yrs
  3. 3. The introduction  A mini baby boom  Heroes archetype – why so special?  Diversity and communication  Saving the world  Millenials current circumstances and future potentialBorn 1981 - 2001 Currently 11yrs – 30yrs
  4. 4. A mini-boom, from the Boomers! • Generation Y born from 1981 to 2001 • Oldest is 30 years old – youngest is 11 years • Currently in  Compulsory education  Further or higher education  Entering the workplace Silent 1945 Boomer • AB - 21% (22%) • C1 - 30% (30%) 1965 Gen X • C2 - 18% (15%) 1981 • D - 24% (17%) Millennial • E - 7% (16%) 2001Born 1981 - 2001 Currently 11yrs – 30yrs
  5. 5. Famous MillennialsBorn 1981 - 2001 Currently 11yrs – 30yrs
  6. 6. A reminder…. the Millenial Archetype Heroes • conventional • powerful • institutionally driven This generation is still young • trust authority and it’s characteristics just emerging Childhood was experienced Youngest of this generation • as centre of parents world come of age in 2020... • protected and sheltered • with great expectations – feel special • technology taken for grantedBorn 1981 - 2001 Currently 11yrs – 30yrs
  7. 7. Generation Y... Or The Millennials? • Generation Y is a term disliked by the generation it “Generation Y says nothing refers to unique about our generation. It says who we follow but states nothing • They don’t want to be labelled simply by their next abut who we are” place in the queue – not very heroic! Source: Strauss and Howe • Prefer Millennials – fits with their expectation and feeling of specialness, difference • They distance themselves from Generation X – seeing it as a morally bankrupt generation full of negativity and destructionBorn 1981 - 2001 Currently 11yrs – 30yrs
  8. 8. So why do they feel so special? • Millennials grew up heavily influenced by Idealistic Boomers in a society that was starting to reject the Wall Street archetype – there must be something more to life? Kids!Born 1981 - 2001 Currently 11yrs – 30yrs
  9. 9. Childhood – kids rule Boomer parents have placed a new focus around children • Gen X life model of work and affluence driving everything created burn out and fractured families • Boomers used their numbers and power status to improve rights and facilities for their kids • Child-friendly was the name of the game, and parenting became a hot topic • Fathers became more engaged and started to spend more time with their children – Remeber Fathers for Justice?Born 1981 - 2001 Currently 11yrs – 30yrs
  10. 10. Childhood – protected and spoilt...? • Boomers, having seen the negativity of the Xer generation, make efforts to instil in their children a clear sense of worth • Boomers instinct to protect creates 24/7 TV and news channels exploding with child safety and abuse issues - message “protect at all costs” • Drive to realise the potential of Millennials – they are the most listened to generation • Millennials experience the widest yet range of opportunities in all areas – from toys to technology, homes to holidays • General affluence means “I want = I get”Born 1981 - 2001 Currently 11yrs – 30yrs
  11. 11. ...pressured and pushed? My 14 and 16 year old have hours of homework to do each evening and they worry constantly about exams... High expectations by all – as so much effort has been put into them • “Helicopter parents” – always there, and struggling to let go • School pressure from an early age (SATS introduced in early 1990’s) • Higher education an expected path resulting in high expectations for and from the workplace • Extra curricular activities increase as more women work to maintain family lifestyle • Family life stressed by impact of divorce and pressure of achieving functioning blended families (65% of remarriages involve children)Born 1981 - 2001 Currently 11yrs – 30yrs
  12. 12. Educational attainment - rising but devalued • National Curriculum introduced in 1980’s • A level pass rate rose for 25 years running. 25% achieved A grades for first time. • Extra tuition and after school classes commonplace • Decried by older generations who say exams just getting easier Percentage of pupils aged 15 achieving 5 or more grades A* to C at GCSE and equivalentBorn 1981 - 2001 Currently 11yrs – 30yrs
  13. 13. Millenials value their education Higher education is essential in order to achieve success in life 1 - Strongly agree 2 3 4 5 - Strongly disagree Boomers 35 22 9 19 13 Generation X 36 25 13 16 9 Generation Y 41 21 8 16 13 Source: Logistix IQ800 August dataBorn 1981 - 2001 Currently 11yrs – 30yrs
  14. 14. An emerging sense of power... Millennials feeling powerful because • Focus and self belief from parents - you can do anything • Sense of society and responsibility – taught by idealistic parents • High educational attainment • Techno savvy, in contrast to older generations Plus • Ability to take the pressure of high expectations – they are coping • Comfortable with multi-tasking high speed life • Old heads on young shoulders Leading many to feel Millennials will be the next great generationBorn 1981 - 2001 Currently 11yrs – 30yrs
  15. 15. Technology & internet Influenced by... Political sleaze Emerging High standard of terrorism living Celebrity culture Family leisure boomEducation reform Environmental issues Child safety issuesBorn 1981 - 2001 Currently 11yrs – 30yrs
  16. 16. 1 - Strongly agree 2 3 4 5 - Strongly disagree 1 - Strongly agree 2 3 4 5 - Strongly disagree Millenials have a strong sense of society 31 28 19 11 9 50 33 13 31 and duty On a scale of 1-5 how much do you agree with this statement? 44 1 - Strongly agree 2 3 27 4 5 - Strongly disagree 7 20 4 Strongly agree I enjoy living in a 56 55 31 28 11 9 430 2 multicultural society 50 24 18 6 2 1 - Strongly agree 2 3 4 5 - Strongly disagree Everyone should actively contribute to the wider 4249 29 24 36 19 18 10 1 7 13 7 2 community It is more important to have 35 41 3227 23 19 7 7 63 discipline and rules than freedom to do as you like Religion has rules I respect, regardless of whether I am a 43 28 17 7 6 follower of religion or not Source: Logistix IQ800 August 2007 dataBorn 1981 - 2001 Currently 11yrs – 30yrs
  17. 17. Crime and drug use – declining last 10 years Source: The British Crime Survey (BCS) • Since 2001, the proportion of pupils who have never drunk alcohol has risen I can’t excuse what Boomers did with sex and drugs when they were kids • 17% of pupils had taken drugs in 2006, down Michael – aged 17 from 19% in 2005.Born 1981 - 2001 Currently 11yrs – 30yrs
  18. 18. Until recently, benefitting from economy and family life • Affluent families during recent times • Low inflation and cost of technology falling • Fewer children per family – spend per child increased Until 2009!Born 1981 - 2001 Currently 11yrs – 30yrs
  19. 19. Digital natives Millennium kids grew up with the computer Born 1981 – IBM first PC 1984 – Apple Macs10yrs 1990 – www created 1993 – www grows by 341,000%15yrs 1998 – Google 1999 – dot com bubble & burst 2000 – 20 million websites, PS220yrs 2001 – iPod 2003 – iTunes 2005 – YouTube25yrs 2006 - FacebookBorn 1981 - 2001 Currently 11yrs – 30yrs
  20. 20. Communication is everything Source: Carphone Warehouse Youth Report 2006 • All things connected loom large in Millennials lives. They have come of age during the digital and internet revolution • Being connected is incredibly important – this generation is naturally collaborative • Media diversity and multi-taking is common place – not phased by pace or complexity of communication Source: OfCom 2006Born 1981 - 2001 Currently 11yrs – 30yrs
  21. 21. Web 2.0 is where the Millennials feel at home “Adults tend to see all things computer related as work, even when they’re play; kids tend to see them as play, even when they’re work. It’s a profoundly different mindset” • User Generated Content means Millennials voices are heard Elizabeth Weil, Fast Company USA • All part of the communication package • Niche interests – no need to “join up” with large tribes • Encourages diversity and open-mindedness Source: Novatris/Harris Interactive 2006Born 1981 - 2001 Currently 11yrs – 30yrs
  22. 22. Mobile phone addicts? • Teaching mum and dad - 70% of 11-17 year olds “have to show my parents how to use certain functions on their mobile phone” • Texting rather than talking is the rule, and most kids have pay as you go Source: Carphone Warehouse • Learning the value of money by earning their top ups Youth Report 2006 “78% of young people say that having a mobile phone gives them a better social life”Born 1981 - 2001 Currently 11yrs – 30yrs
  23. 23. What is the national mood and how are Millenials reacting?Born 1981 - 2001 Currently 11yrs – 30yrs
  24. 24. The current national mood 1980’s and 90’s 2001 – 2020 (Emerging mood) Families were weak Families are now strengthening Child rearing was tightening Child rearing is overprotective Gender roles were tight Gender roles are widening Ideals were debated Ideals are being championed Institutions were eroded Institutions are being founded Culture was cynical Culture is now practical Social structure was diversified Social structure is settling Worldview was complex Worldview is simplifying Social priority was individual Social priority is community Sense of need to do whats right Sense of need is to fix the world Vision of future was darkening Vision of future is brighteningBorn 1981 - 2001 Currently 11yrs – 30yrs
  25. 25. Turnings: The characteristic mood of the nation Fourth turning: Crisis Solid public consensus, support of authority, clampdown on bad conduct, overprotective child rearing Third Turning: Unravelling First turning: High Pragmatism, self-reliance, Follows a crisis…Friendly, poor family structure, indulgent child rearing, weakening civic habits, low contentment, order and public trust, pessimism consensus Second Turning: Awakening A challenge to highs assumptions, new spiritual agendas, soul over science, public order deteriorates, crime rises, families weakening Source: The Fourth Turning, Strauss & HoweBorn 1981 - 2001 Currently 11yrs – 30yrs
  26. 26. Realism rules over Idealism for Millenials A belief that the important issues have Therefore more interested in micro- been fought issues than macro ones  feminism  Focused within society  racial equality  Political convergence – there is  sexual tolerance only centre ground – no big issues to consider  education for all  Government focused on  nuclear disarmament commercial more than  etc. ideological concerns  Pragmatic generationBorn 1981 - 2001 Currently 11yrs – 30yrs
  27. 27. Conservative heroes emerging Values & Attitudes Behaviour Respectful of parents Regard for authority and sacrifice High standards Prepared to work hard High expectations Driven to achieve Rejection of radicalism Saving and building - not destroying Confident in own values Unfazed by struggle, focused Diversity and collaboration Tolerance, laissez faire Networked, multiple groups Not compelled to join single rebel tribes Democratic, listening Consensus through collaboration Pursuit of happiness rather than wealth Work/life balance Individual responsibility Changing my world changes everyone’s worldBorn 1981 - 2001 Currently 11yrs – 30yrs
  28. 28. In a word… Whatever!Born 1981 - 2001 Currently 11yrs – 30yrs
  29. 29. What are Millennial’s circumstances? • In school, university or starting out in the workplace • Boomer parents own the wealth – high equity in property • Millennials staying in education, but average student debt over £12,000 will not be repaid for 15 years. 2011 Update – this is now £50k! • Property prices prohibitive (average cost is £184,000 vs. £96,000 in 1999) • Older Millennials are debt-ridden and hard working. However, not just motivated by money – looking for experiences and personal balance as much if not more than moneyBorn 1981 - 2001 Currently 11yrs – 30yrs
  30. 30. What about the in the workplace? Generation X Millennials • Distrust leadership • High integrity, strong values • Impatient and cynical • Optimistic and energetic “At recruitment fairs candidates • Egalitarian vs hierarchical • technically proficient used to try to stress what they could offer to a company. Now it’s the other way round.” • Prefer tribes to teams • Work well in teams The Association of Graduate Recruiters • Rule breakers • Worldly, educated Source: “Generations at Work – The Power of Customer Demographics” - M LapierreBorn 1981 - 2001 Currently 11yrs – 30yrs
  31. 31. Heroes of the future? • They will look to rebuild and improve it from within – no ripping down • Based on a collaborative self-interest, rather than pure idealism of Boomer parents or individualism of Generation X • Still question marks over ability to lead – brought up on household democracy, everyone’s a winner belief and collaboration with peers rather than outright leadership • Who will be the Millennial leaders of the future? This is my generation and my life, and I’m going to do something with it Tyler- aged 17Born 1981 - 2001 Currently 11yrs – 30yrs
  32. 32. Finally, marketing is aspirational again Marketing courses are some of the most popular in the country previously cynicism now embracing Now they really know our game!Born 1981 - 2001 Currently 11yrs – 30yrs

×