LEADING MILLENNIALS2014 Federation Meetings

Who are the Millennials?

What are some characteristics of this generation?

Adapted from Graeme Codrington, compiled by Beth Kneupper and Pam Foster

Quiz

Generational Quiz

Your generation spend Saturday nights….. A – At the local Movies

and then the drug store B – At the bowling alley

with your friends C – Draggin’ main street

in your hotrod listening to Blondie

D – Talking on the internet with someone from China

One of your generations’ favorite musician A – Glen Miller B – Beatles C – Madonna D – Usher

Generational Quiz, cont.

The first thing my generation wanted to buy was A – A home B – A car C – A company D – A personal

computer

Birthday parties in my generation were A – Only for rich

people B – The day I got to

pick what meal and cake I wanted

C – For me to come up with a cool new theme each year

D – Consisted of a jumping castle, a DJ, and a caterer

Generational Quiz, cont.

My favorite childhood toy of my generation… A – Marbles B – Hula Hoop C – Barbie and GI

Joe D – Game

Boy/Playstation

A favorite childhood drink of my generation was… A – Coca-cola B – Kool-aid C – Anything diet D – Starbucks

Generational Quiz, cont.

People in my generation, dream to become a famous sports start like A – Babe Ruth B – Joe Namath C – Michael Jordan D – Tiger Woods

The worst fashion mistake my generation made was… A – Double knit B – Bell Bottoms C – Bangs that

reached mars D – Baggy low-riding

pants

Generational Quiz, cont.

When my generation thinks of their father, they think about… A – The good care he

provided for my mom and siblings

B – The fun family vacations he took us on

C – When he left D – My real dad or

step dads?

If my generation got into trouble, our moms would… A – Spank us B – Say “Wait until

your father gets home!”

C – Put us into time out

D – Ignore me until she found a solution in a self-help book

Generational Quiz, cont.

Brothers/Sisters in my generation… A – Played with me and

helped me do chores B – Was fun till I

became a teen C – I see once a year,

we both are so busy D – Which one? Step or

Real?

One of my generation’s daily chores might have included… A – Setting the table or

heating water to wash the dishes

B – To wash or dry dishes

C – Loading/Unloading the dishwasher

D – What dishes? We use paper plates

Generational Quiz, cont.

When my generation grew up, we wanted to be A – A doctor B – The President C – An entrepreneur D – A celebrity

Your Results

Mostly A’s – Traditionalist

Mostly B’s – Baby Boomer

Mostly C’s – Gen X’er

Mostly D’s - Millennial

Traditionalists

Born before 1946

“The Greatest Generation”

75 million Americans Defining Events: WW2, Great Depression,

Pearl Harbor, GI Bill, Korean War, Sputnik, Holocaust, Social Security brand new

Defining Technology: Radio

Baby Boomers

Born 1946 to 1965

80 million Americans Defining Events: Post-Wwar Economic

Prosperity, Feminism, Civil Rights Movement, Vietnam War, The Cold War

Defining Technology: Television

Generation X

Born 1966 to 1980

60 million Americans Defining Events: Berlin Wall, Challenger

Disaster, Recession, Corporate Downsizing, AIDS, Chernobyl, Iranian Hostage Crisis

Defining Technology: Personal Computer

Millennials

Born 1981 to 2000

70 million Americans Defining Events: 9-11, Iraq War, Columbine

Shooting, “Pocket” IT, Information (24 hour news cycle), Enron

Defining Technology: Internet

Millennials look at things differently

Traditionalists Baby Boomers Gen X’ers MillennialsValues Loyalty, Duty,

PatriotismIndividualistic Entrepreneurial,Status-conscious

Education Loyalty, Honor,Family

Characteristics Fearless, Risk Averse, Idealistic, Moral, Trust in Authority

Liberal, less religious, Cynical, Experimental, social climbers

Alienated, Tech-Savvy, Insecure, Challengeauthority

Confident, Social, appreciate diversity, goal-oriented, multi-taskers

Millennials look at things differently

Traditionalists Baby Boomers

Gen X’ers Millennials

Sign ofIndependence

No generationalsign

Extension of house phonein bedroom

Home computer

Cell phone with internet access and texting capabilities

Communicating Write me a letter

Write me a letter

Email me Facebook, but probably easier to text

Fiscal Philosophy

Don’t spendwhat you don’t have

Charge it! Save it for a rainy day

Money is made to bespent

Millennials look at things differently

Traditionalists Baby Boomers

Gen X’ers Millennials

Leadership in business

Command and control

Climb the corporate ladder

Challengeothers and authority

Collaborate

Mantra Slow and steady wins the race

Keeping up with the Jones’

I can do it myself

Two heads are better than one

Millennials…

Priorities Only 6/10 raised by both parents Tend to prioritize parenthood and marriage above

work Online research

Employers - Glassdoor, Facebook, Linked In Products, Restaurants, etc.

Online reviews Not because angry – how they share information

Millennials…

Appreciate the value of a good day’s work Don’t necessarily expect the value to be

reciprocated monetarily Most civic-minded generation since the

Traditionalists Expect active, involved leadership

http://www.youtube.com/watch?v=Sz0o9clVQu8

http://www.youtube.com/watch?v=C1a6M3dBNwc

Millennials in the Workforce

A Generation of Contradictions?

Ambitious Lazy

Hyper-connected Self-Obsessed

Nonconformist Materialistic

Hard to Motivate More Engaged

How are Millennials as Learners Different? Motivated self-learners, can be self-directed

employees (Pew Research)

Seek transparency and real time feedback

Have been accustomed to using innovative technologies for learning Natural progression for them to use technologies

for training at work

Teach me/Train me…

Bite sized learning

Immediate feedback

Big-picture Relevancy

Collaboration

Gamification

Technology

Teamwork

Lead me…

Tell me everything up front

Entertain me to engage me

Enhance my experience with technology

Let me create my own ah-ha

Role plays and simulations

Create checklists of tasks

Encourage me to contribute without fear of criticism

Lead me…

Clearly define expectations

Include visuals in training

Consider reverse mentoring

Use different rewards for positive performance

If I work hard – let me play hard…at work

Offer help

Create a team-oriented culture

The Millennial Client

Millennial Clients

Civic minded

Looking for a cause – want to make an impact

Well informed

Resolving issues in one contact

Savvy shoppers

Millennial Clients

Used to choices and customization Build a Bear – don’t get a teddy bear, go build

their own Starbucks – coffee customized with their name on

the cup

Insurance? Customize!

Why is the Millennial a good prospect? Life Insurance

34% currently have life insurance 39% are looking to buy life insurance in the next

12 months Family Cause Civic Minded Largest group of homebuyers and renters,

largest group of prospective life customers

Why does this matter?

Generation Name % of total adult populationMillennials 30%Gen X 19%Young Boomers 20%Older Boomers 14%Silent Generation 7%G.I. Generation 9%

• In 10 years, Millennials will be the largest group in the workforce

• Boomers are moving out of the workforce

• Traditionalists are out of the workforce

How do I reach them?

Story-selling Experience the emotion – who did and did not

have life insurance and how it affected their loved ones

No medical exam may be appealing – quick turn-around time

Relationships, not cold calls

Thank you!