Generational awareness and analysis have been a mainstream science in the academic and business world for some time. Each generation has unique to them, certain characteristics that differentiate them from other generations. All generations share certain traits, beliefs, customs, and behaviours unique to their age group. Age reveals two important things about a person: their position in their life cycle; and their membership in a group (cohort) of individuals were born at the same time and, who have similar experiences. Other factors obviously have impacts that differentiate people outside of generational norms such as place of birth, culture, and religion, etc.
Generational awareness is used in a variety of ways such as in advertising and political science as a tool to predict business and political trends and outcomes. Multigenerational workplaces could benefit from generational awareness. Understanding the generations can provide a distinct advantage in helping people with their needs and also, help people understand different perspectives, beliefs, and points of view.
Riskboss will be highlighting one generation in this, and each future edition. Generations already highlighted can be found in past editions of Risikboss Magazine. It is our goal to help readers understand the impact factors and traits of each generation. In analysing this information, it is important to be careful not to pigeonhole an individual in any age group with their generational characteristics as people can and do often break generational norms. We hope that this helps to bridge gaps between the generations, assist in dealing with people you interact with, and reduce the risk of misunderstanding points of view.
| YEARS | GENERATION NAME |
| 1901 – 1927 | The Greatest Generation (See Fall/Winter 2023 Edition for Details) |
| 1928 – 1945 | The Silent Generation (See Spring/Summer 2024 Edition for Details) |
| 1946 – 1964 | Baby Boom Generation |
| 1965 – 1980 | Generation X |
| 1981 – 1996 | Millennial Generation Generation Y |
| 1997 – 2012 | Generation Z / IGen |
| 2013 – 2025 | Generation Alpha |
Millennial Generation
Generation Y
1981 – 1996
Generation Y (Often associated as Millennials) is the demographic cohort group of people born between 1981 and 1996. They are the generation that comes after the Generation X and before Generation Z. Generation Y/Millennials are the children of Baby Boomers and Generation X.
Generation Y/Millennials range in age from 29 to 44 years of age. By the numbers, crammed in between the Generation X, who currently number about 1.4 billion around the world, and Generation Z who are about 2 billion, Generation Y/Millennials number at approximately 1.8 billion worldwide. In 2019 Generation Y/Millennials took over from Baby Boomers as the largest living adult generation in the United States.
Some famous Boomers are Mark Zuckerberg, Lady Gaga, Scarlett Johansson, Meghan Markle, Prince Harry, Roger Federer, Rihanna, Beyonce’, Serena Williams, Gal Gadot, Michael Phelps, Jennifer Hudson, Margot Robbie, and the list goes on.
Generation Y/Millennials grew up in an age of rapidly advancing technology, particularly the internet and an overabundance of mobile devices. Generation Y/Millennials were born at a time of declining global fertility rates having fewer children than their predecessors.
In the workplace, Generation Y/Millennials are well known as being tech savvy, educated and a diverse cohort who prioritize work-life balance, social responsibility, and collaborative environments. Work that contributes to something meaningful that allows for self-expression is more important to them than financial rewards. Compared to other generations, Generation Y/Millennials are likely to postpone life milestones such as formal marriage and home ownership.
According to Wikipedia, “Millennials, in the US, have been called the “Unluckiest Generation” as the average millennial has experienced slower economic growth and more recessions since entering the workforce than any other generation in history.”