Millennials Are Remaking America R U Ready? Morley Winograd - PowerPoint PPT Presentation

Millennials Are Remaking America R U Ready? Morley Winograd Michael D. Hais Colorado Water Congress January 31, 2013

Millennials Will Increasingly Dominate the Adult Population of America in This Decade 99% 100% 90% 80% 80% 70% 61% 60% 51% 50% 41% 36% 40% 30% 24% 30% 20% 17% 20% 10% 0% 2008 2010 2012 2016 2020 Percentage of Adults over 18 Millennial Contribution to Adult Population

Defining A Generation The aggregate of all people born over about 20 years (one phase of life), who share: Common Location in History. Common Beliefs and Behaviors. Perceived membership in a common generation. Distinctive behaviors created by: Changes in child-rearing approaches. Events experienced during maturation. Changes in communication technologies. Create 80+ year cycle of four distinct archetypes

Four Generational Archetypes Cycle through History Civic (GI or Greatest Generation, 1901-1924) Adaptive (Silent Generation, 1925-1945) Idealist (Baby Boomers, 1946-1964) • Strongly adhere to their own personal values. • Won’t compromise on fundamental questions of right and wrong. • Use ideals as the driving force to provide meaning in their lives. • Independent dividers. Image: Iris Friedheirm (Flickr)

Hollywood’s Coming of Age Movies Often Capture Generational Change

Gen X Rejected Boomer Lifestyle Completely Civic (GI or Greatest Generation, 1901-1924) Adaptive (Silent Generation, 1925-1945) Idealist (Baby Boomers, 1946-1964) Reactive (Gen X, 1965-1981) • React AGAINST what came before and reject almost all of it. • Cynical, anti-institutional young people. • Entrepreneurial risk-takers in mid-life. Image: (c) 2009 JupiterImages Corp

“Ferris Buehler’s Day Off” Captured their Rejection

Gen-X Childhood in Movies 1978 It Lives Again 1964 Children of the Damned 1978 Damien—Omen II 1967 Rosemary’s Baby 1978 Halloween 1973 The Exorcist 1979 The Brood 1974 It’s Alive! 1980 The Children 1976 Look What’s Happened to Rosemary’s Baby 1981 The Final Conflict 1976 The Omen 1981 Halloween II 1976 Carrie 1984 Firestarter 1977 Exorcist II: The Heretic 1984 Children of the Corn There is only one 1977 Eraserhead 1988 Child’s Play thing wrong with the Davis baby….. Its Alive

Millennials are Today’s Civic Generation Civic (GI or Greatest Generation, 1901-1924) Adaptive (Silent Generation, 1925-1945) Idealist (Baby Boomers, 1946-1964) Reactive (Gen X, 1965-1981) Civic (Millennial Generation, 1982-2003) • Partisan unifiers. • Upbeat, optimistic, group-oriented. • Building new institutions using social network technology. Image: johsson, shanda.w (Flickr)

Millennial’s Parents  The Baby Boomers chose to become older parents in the 1980s while Gen X moms reverted back to the earlier birth-age norm, which meant that two generations were having babies.  Boomers rebelled against the parenting practices of their parents.  They made conscious decisions not to say “because I told you so” or “because I’m the parent and you’re the child.”  Strict discipline was the order of the day for Millennial parents.  They became friends with their children.  They explained things to their children, actions, consequences, options, etc.) – they wanted them to learn to make informed decisions.

Note how Different Father/D aughter Relationship is in “Devil Wore Prada”

Millennial Childhood in Movies 1994 The Lion King 1982 E.T The Extra-Terrestrial 1994 Angels in the Outfield 1986 Aliens 1997 Liar Liar 1987 Three Men and a Baby 1998 Rugrats: The Movie 1987 Raising Arizona 1999 Big Daddy 1987 Baby Boom 1999 The Iron Giant 1989 The Little Mermaid 2000 My Dog Skip 1989 Look Who’s Talking 2001 The Princess Diaries 1989 Parenthood 2002 Spy Kids 1990 Look Who’s Talking Too 2001 Monsters, Inc. 1990 Home Alone They changed her 2001 Harry Potter 1991 Little Man Tate diapers. She changed 2002 Big Fat Liar their lives . . . 1993 Three Men and a Little Lady 2002 About a Boy 1993 Searching for Bobby Fisher

US Birth Rates Over Time There are now: • Ten million more Millennials alive than Baby Boomers. • Almost twice as many Millennials as there are members of Generation X.

The Millennial Generation is the Most Diverse in American History Percent of U.S. Population That Is African American, Hispanic, Asian Pacific Islander, American Indian, and Other; By Age – December 2004 50%  Millennials  Generation X 45%  Baby Boomers 40%  Silent & GI Generations 35% 30% 25% 20% 15% 10% 5% 0% 1 6 11 16 21 26 31 36 41 46 51 56 61 66 71 76 81 86 91 Current Population Survey, U.S. Census Bureau, Dec. 2004

Millennials Have the Most Gender Neutral Attitudes in History By 2016, women are projected to earn: • 64 percent of associate’s degrees • 60 percent of bachelor’s degrees • 63 percent of master’s degrees • 56 percent of doctorates Image: m00by(Flickr)

The Millennial Generation is…. Special —Just ask their “baby on board,” mini-van driving parents. • Sheltered —Thanks to most sweeping youth safety movement in history. • Confident —Highly optimistic, they boast about their generation’s power and • potential. • Team-Oriented —Barney and school teaches them to be team players and bond with their peers. • Achieving —Best behaved generation in decades. • Pressured —Pushed to study hard, avoid risk. Everyone gets a trophy. No Winners. • Conventional —More comfortable with their parent’s values than any other recent generation, they support the idea that social rules help.

All of this positive upbringing shaped the behavior and attitudes of the Millennial Generation.

19.67% Google 12.74% Apple 8.90% Facebook 7.89% State Dept. 7.67% Disney 6.63% Amazon 6.59% FBI 5.76% Microsoft 5.14% Sony 5.04% CIA Millennials' Ideal 5.01% Nike Employers 4.34% Teach for America 4.32% NASA 4.20% Peace Corps 4.06% Electronic Arts 0% 5% 10% 15% 20% Source: Universum /The US Professional Survey 2011

Generational Gap in Views on Global Warming 70% 64% 60% 50% 43% 40% 28% 30% 18% 20% 8% 10% 3% 0% Yes Because of Because of Don't know No Mixed/Don't human activity natural know patterns Total Millennial Gen X Boomer Silent Pew Research Center Feb 22-Mar 1, 2011

Stricter Environmental Laws and Regulations Are Worth the Cost 57% 57% 60% 54% 53% 49% 50% 40% 40% 39% 37% 40% 35% 30% 20% 10% 0% Total Millennial Gen X Boomer Silent Are worth the cost Cost too many jobs and hurt the economy Pew Research Center Feb 22-Mar 1, 2011

Millennials Are More Favorable Toward Government Regulation of Business Than Older Generations 52% 51% 50% 46% 46% 48% 46% 44% 43% 42% 40% 38% Government regulation of Government regulation of business necessary to protect business usually does more public interest harm than good Millennials Older Generations Source: Pew Research Center March 2011

Millennials Are More Favorable to “Big Government” Than Older Generations 53% 60% 39% 54% 50% 40% 39% 30% 20% 10% 0% Favor smaller government, Favor bigger government, fewer services more services Millennials Older Generations Source: Pew Research Center March 2011

Love Does Not Equal Marriage

Important Priorities of Millennials 60% 50% 52% 40% 30% 30% 20% 20% 10% 0% Being a good Owning their own Having a successful parent home marriage Pew 2010

Millennials’ Lifestyle Choices “Ideal” Place to Live 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 17% Big City 9% 43% Suburbs 31% 17% Small City 27% 17% Country 29% Millennials Older Generations National Survey by Frank N. Magid Associates

Burdened With Student Debt, Millennials Are More Able to Rent than Buy 50% 48% 46% 44% 42% 40% 38% 36% 34% 32% 30% Homeownership Rate for 25 to 34 Year Olds 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 2000 2005 2010 2015 Total Renter Households Source: U.S. Census Bureau

Coming Next: The Multi-Generational Household Boom 66% of Millennials, (in contrast to about 50% of Boomers and 33% of Silents), believe it is a responsibility of adult children to allow an elderly parent to live with them. 41% of adults ages 25 to 29 currently live with or have moved back in with their parents temporarily because of the economy. 17% of 30 to 34 year-olds also fall into this category 70% of survey respondents are considering the possibility of accommodating extended family in their next home purchase 19% said that they certainly will — with children 18 years of age and older the primary beneficiary of parental largesse. Pew Research Center — 2012 Consumer Insights Survey of over 20,000 respondents

The Challenge and Opportunity of Three Generations Baby by Gen ener erat ion X Millennials Boom oom ers  Inspiration  Creativity  Teams Con ont ribut ion on t o t o t h t he  Motivation  Bottom-line  Technology W or orkplace orientation  Values  Consensus  Taking risks •Challenge: blend the best of each generation •The Key: become aware of and put aside your own generational biases, and be able to work collaboratively with other generations.