In the early 90s, American sociologists Neil Howe and William Strauss analyzed history and described several groups of people born in the same time interval..
Scientists say that there is a four-step repeating cycle of life, which consists of epochs: upsurge, awakening, recession and crisis. Each period runs for 20-22 years, and the full cycle is 80-90 years.
Such a cycle has four generations and always includes the main archetypes of people:
- Prophets (born towards the end of the crisis era).
- Wanderers (born in the era of ascent).
- Heroes (born after the era of awakening, during recession).
- Artists (born after a recession, during a crisis).
How and Strauss – came up with a name for each generation. Those who were born between 1982-2004 (and in Russia – 1985-2003) are called generation Y or millennials. In our country there are more than 30 million such people.
Source: ru.wikipedia.org
Why are millennials different?
Each generation, according to the theory of Strauss and Howe, is called upon to solve its own problems. At the same time, it lives under the influence of historical events and cultural features..
Millennials (archetype of “Heroes”) replaced generation X and completely destroyed the ideals of parents.
Generations Y are individualists, skeptics, pragmatists. They survived serious events on the world stage (from the collapse of the USSR to the development of postmodernism).
Brought up on modern means of communication, such people value the digital world, deny authorities, and are able to capture information on the fly. Millennials put spiritual values, freedom and believe in themselves above the rest.
If generation X focused on long work and the accumulation of knowledge, then generation Y is interested in a quick result, not a process..
Millennials easily switch in their pursuits, seeking universal recognition. This sets them apart from Generation Z – current teens who are more interested in safety and lack vanity.
If Generation Z (as the archetype of “Artists”) will change society for the better, then millennials should pave the way for this transformation.
Types of Millennials
Representatives of the millennium have many common features, but there are also individual qualities..
In 2012, The Boston Consulting Group, as part of the The Millennial Consumer project, surveyed 4 thousand millenials from 16 to 34 years old and divided them into six types:
- Conservatives – love live chat instead of online chatting. Frequent visitors to cafes, cinemas.
- Representatives of the “green” – conservationists, supporters of vegetarian food, sorting garbage.
- Informed – connoisseurs of Internet trends, active in social networks.
- Anti-millennials are apolitical adherents of family values who almost never surf the Internet.
- Young mothers – women with an active lifestyle, engaged in self-development and parenting based on their views (sports, travel, education).
- Gadget Gurus – Advanced technology users who want to have a lot of money and succeed.
In 2014, the Exponential Digital Advertising Agency did a similar study with 4 million participants and named 12 more types..
Among them are business women, freelancers, travelers, culinary fans, and internet content collectors. Scientists say generation Y is a real quilt that cannot be made homogeneous..
Features and values of Millennials
How do they behave at the interview
Growing up on school grades and reactions on social networks, Generation Y wants to adapt to others’ desires and even predict them.
Hence, some are afraid to be themselves, which is why they play the responsibility to the employer. Sometimes future employees are shy of gadget addiction, so they hide their digital literacy.
Millions can prepare a decent resume, but then just disappear and not come to a meeting, stop answering calls. For this, they even came up with the term – “hosting”.
At an interview with millennial, you need to ask more questions about his experience (you can even study or volunteer), about the ability to compromise, communication skills.
It will be good to know which sites a young man uses as a source of news..
Millennials appreciate honest interviewers in an interview, so it’s best to provide them with the most truthful information about the company..
How do they work
Generation Y quickly finds any information and systematizes it. They are inspired by innovations, non-standard tasks, challenges, but at the same time expect trust and feedback from the leadership at every step. Millennial needs to feel that he is important. Fulfilling expectations, he will reach heights and even refuse to leave.
The plus for the employer is that in this generation, people later marry, which means they completely focus on career goals.
Pricewaterhouse Coopers published the results of an international study on the millennial workspace in 2012. It turned out that young people really appreciate the development, as well as a flexible schedule to maintain a balance of free time and work. Freedom seems more important to them than cash bonuses.
They are normal to the new. Ready to change from two to six jobs in a lifetime, moving to other countries. Success in a career is the most important idea of a generation.
What buy
By 2030, this generation will bring major profits to the global economy and determine financial policies. For millennial money is not an end in itself, so it’s important not how much a person earns, but how he spends.
Money is spent on self-expression (for example, tattoos, piercings, clothes), self-development (education, courses, seminars), organic food. But expensive jewelry, luxury drinks, sports cars, as symbols of a rich life, cease to be in demand.
They are ready to spend money on taxis, traveling without travel agencies, food delivery, coffee, gadgets. Impressions are more important to them than things. Thanks to the millennials, online shopping is replacing shopping centers.
Minimalism and environmental friendliness are manifested in everything: from the choice of transport (bicycle or scooter) to semi-empty interiors from Ikea, where there is no place for sideboards and carpets.
How to relate to money
In 2018, Visa conducted a study of the consumer behavior of Russian millennials. She found that managing personal finances is easier for young people than understanding investment strategies. The majority, according to the survey, plans a budget and even a pension, but at the same time lives on today.
Millennials have not the easiest relationships with banking organizations, but financial literacy is higher than that of parents. Credit cards are more common among young people. However, long-term large loans are definitely not for the millennial; he avoids serious financial obligations.
Generation Y doesn’t like going to banks and carrying cash wallets with them. They prefer apps. They like to pay with a smartphone or watch..
Where live
Generation Y thinks about their housing by 30, and until that moment, young people are renting an apartment. Living separately from parents is a traditional goal for millennials from 17-20 years old, even if the family owns a large house. The reason is a thirst for independence and a free life.
When millennials get a good job, they continue to rent an apartment, sometimes with friends, so as not to deny themselves traveling the world or eating good food..
Mortgages are also not an option due to their high responsibility, so they are gradually saving money for a one-time purchase..
How to relate to marriage
Generation Y looks at family issues easier. They calmly relate to the fact that you can register a marriage late or just cohabit. Sometimes it seems that they do not want a serious relationship, but in fact they are just trying to seem independent.
Start children do not start immediately after the wedding. But if they start, then they actively use devices for parental needs and control over the child. To be parents for them is to be partners with the same responsibilities..
Millennials devote little time to religious education of children and more to their self-expression. Such parents want to be involved in the life of the child, but do not forget about personal space. They are constantly improving their educational knowledge..
Which brands choose
They do not believe brands, but only follow consumer ratings or real reviews on the Internet. They are interested in companies that have similar values, ideology, or do something important for society or nature. The history of the brand, its legacy, no longer produces the desired effect.
Generation Y likes rewards and individual offers, so companies targeting a young audience make personal bonus systems, discounts and cashback.
How to relate to advertising
Millennial when exploring products love unobtrusive content, avoiding mass mailings.
Generation Y has developed a strong immunity to advertising. It grew on the abundance of various advertising campaigns. Therefore, it is difficult to surprise him. Refusal to watch traditional television and falling demand for radio reduced their marketing channels. Classic tools stop working.
They can’t be fooled, attracted by propaganda, or even intimidated. Generation suffers “banner blindness” in relation to advertising tricks.
Millennial issues
- They quickly get tired of the monotonous work, they begin to get bored, they can even get depressed.
- Because of problems with self-determination, they don’t want to grow up, they are afraid to have a serious relationship, they are infantile.
- Due to the development of perfectionism, they are constantly looking for evidence of their successes, they are more in need of support due to the lack of real communication.
- Often exhibit excessive cynicism, which prevents them from establishing communication at work or with friends.
- Prone to narcissism, imitation, narcissism. Flaunt personal life. Social Media Dependent.
- Because of the scattered attention, they can’t concentrate on a specific topic..
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