An HR Glossary for HR Terms

Glossary of Human Resources Management and Employee Benefit Terms


What Is a Millennial?

Also known as Generation Y, Millennials are a demographic cohort, or age group, that falls between Gen X and Gen Z. They’re called Millennials because the oldest members of this generation became adults at the turn of the millennium.

Millennial Age Range: How Old Are Millennials?

As of 2024, Millennials include anyone between the ages of 28 and 43. This group is projected to make up the majority of the labor force by 2029.

Millennial Birth Years and Millennial Cut-Off

Each generational group fits between a set of birth years, and researchers use historical, economic, and social factors (among others) to determine the cutoff. Here's where the Millennial generation begins and ends in relation to others:

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Millennial Characteristics

Millennials grew up during the advent of the internet and personal computers. Many of them started their careers after the Great Recession of 2008, which has impacted their earning potential. They also have high levels of student loan debt. Given this background, here are some of the key characteristics of this demographic:

Every generation faces oversimplification and inaccurate stereotypes. It’s important to remember that these generational characteristics are based on statistical trends rather than inherent traits.

Millennials vs. Gen Z

Millennials and Gen Z are often incorrectly lumped together, but the two generations do share some similarities, including:

However, Millennials differ from Gen Zers by generally being more:

What Millennials Value in the Workplace

According to a Deloitte survey, 49% of Millennials feel burned out. To better engage this group and increase retention, employers should:

Included. Supported. Retained.

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