learn generational trends & solutions_sme_2015-quef161 (2)

Presentation Title

Gen NowUnderstanding the multi-generational workforce

November | 2014

What are some typical characteristics of YOUR generation?

What about the OTHER generations?

opening questions

agenda

Aging and Declining Workforce

Generational Challenges

What’s Next?

the aging workforce

Source: Monthly Labor Review – Jan 12

1980 1990 2000 2010 20203032343638404244

34.636.4

39.341.7 42.8

The Median Age of the US Worker

demographic trends

• Retiring boomers

• Drops in fertility rates

• College education rates

• STEM graduate shortages

Source: BLS Monthly Labor Review, January 2012

1990 2000 2010 20200

20,000

40,000

60,000

80,000

100,000

120,000

Prime Age Workers Baby Boomers

Baby Boomer Ages:1990: 25-442000: 35-542010: 45-642020: 55-74

Prime Age Workers (ages 26-54)In thousands

engineering labor market demographics

Source: EMSI-2013; EMSI Newsletter, 11/2011

Aerosp

ace

Industrial

Electric

al

Petroleu

mCivi

l

Mechan

ical

Chemica

l

Environmen

tal

Biomedica

l

Engineerin

g Ove

rall

Total O

ccupati

ons0%

10%

20%

30%

40%

50%

60%

70%

% of US Engineering Workforce Age 45+

engineering labor market demographics

Source: EMSI-2013; EMSI Newsletter, 11/2011

If just 25% of engineers between 45 and 64 retire in the

next 5 years it will create a

demand for 200,000 replacement jobs

It’s not a shortage of people, it’s a shortage of talent

Our Workplace: Four Generations

Silent Gen

Gen XGen Y

Baby Boomers

Generational Glue?

Silent Generation

66+ yrs

Baby Boomers48-65 yrs

78.5M

Gen X30-47 yrs

45M

Gen Y18-29 yrs

79.8M

Defining Events

Stable Families• Rural living• WW II• Korean conflict

Technology: • Radio• Silver screen• Radar• Polaroid Film

Prosperity, Personal Rights• Cold war / nuclear threat• Civil rights movement• Women’s liberation• Political assassinationsTechnology• Microwave Oven• Video Tape Recorder• Hand-held Calculators• Business Computers• Color Television• Credit Cards

Economic Stagnation• AIDS Crisis• Increasing poverty• Divorce & working

moms• MTVTechnology• Floppy disks• Personal Computers• Cell Phones• Digital Video (DVD)• Email• Nintendo

Economic Prosperity• Global economy• School violence• Oklahoma city bombing• TerrorismTechnology• High Definition Television• Rapid Internet Growth• Smart Phones• IPods• Text Messaging• Xbox / PlayStation

Values Dedication & Sacrifice• Hard work• Respect for authority• Patience & conformity• Delayed rewards• Adherence to rules

Personal Growth • Optimism• Personal gratification• Health and wellness

Work to Live• Work/Life balance • Global thinking• Techno-literate• Fun, informality,

cynicism• Self-reliance

Contribute to Society • Optimism• Civic duty• Confidence/Achievement• Respect for diversity /

culture differences• Morality and Values

profile: baby boomers

• Demographics– 48-65 years old– Most are married; Many more than once– 77% are employed; 2/3 work full time– Education: 39% earned a post grad degree

• Work Style– Personal growth is a key goal– The ‘Me’ or ‘Ageless’ generation– Independent and works long hours– Struggle with work/life balance– Over achieving; Multi-taskers

Sources: Wikipedia.org; MRI Data; American Demographics Magazine

Boomers – Retirement Trends

In the US, 10,000 boomers per day will enter retirement age

every day for the next 19 years!

Kelly Services Marketing Information ~ Proprietary & Confidential ~ June 2012

SOURCES: PEW RESEARCH CENTER

profile: gen X

• Demographics– 30-47 years old – Divorce rate is nearly 50%– Nearly 2/3 are parents; 1/3 are working parents– Best educated generation: Over 40% have

earned a University degree or higher

• Workstyle– Embrace risk / change– Prefer free agency vs. corporate loyalty– Willing to jump from job to job to pursue

growth and opportunity


this is The Leadership Deficit!

Source: BLS; Overview of the 2008-18 Projections

shrinking pool means a decrease of Gen X leaders

only 45 million Gen Xers replacing the baby boomers

78.5 million baby boomers leaving workforce

The competition for older, more experienced leaders will intensify & we must develop Gen Y faster!

Gen Y / Millennials

Work Style

Hot Buttons?Blind Spots

Communication Style

Personal

DriversNew

Expectations


•Demographics–18-30 years old–Parents, family, religion, and generosity are central to this generation

–Largest consumer group in history

–30% aged 18-24 are still attending a college/university

Profile: gen Y

Profile: gen Y

•Work Style–Self-inventive/individualistic–Join organizations;

seek significance–Volunteer in their

communities–Display a high degree

of tolerance


•Communication Style–Very direct, very immediate–Very comfortable with simultaneous, massively parallel streams of information

–Demand constant feedback

Profile: gen Y


•Personal Drivers–Fundamentally Conservative

–70% entrepreneurial–Optimistic, self-confident–Achievement focused–Expects and embraces diversity

Profile: gen Y


Profile: gen Y

•Hot Buttons–When can I be promoted?–When can I have an expat assignment?–What’s up with this 9-5 thing? That’s so

random!–The ‘90s called…they

want their cube back!–No Wi-Fi in the cafeteria?

Really?



•Blind Spots–Boss says not to chat with the SVP? OMG! He has answers!

–I’m not entitled! I’m just asking logical questions

–Don’t promote me! Sure, I want to learn more, but I still want to have a life!

Profile: gen Y


You mustdifferentiate

Homogenous managing = death

Gen Y requires:

Individualizedfeedback and regular communicationFrightening, huh?

New reality:

Managers must

manage.

Gen Y Quote

Manager=

consultant

Do you sleep with your Smartphone?

18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65+0

20

40

60

80

100

120

109.5

41.825.9 14.0 9.8 4.7

Median texts per day

Gen Y’s Favorite Leisure Activity?

Connectivity.

it’s all about me.

to be useful,I must contribute.

Corporate Ladder?Really?

53%AGREE

Baby Boomers

Corporate brand and reputation is key to evaluating a potential employer 38%

AGREE

Silent Gen

63%AGREE

Gen Y

LoyaltyNot dead yet.Not feeling real well.Fundamentally redefined.

Loyalty: career, network and profession

Not you.

Borders only exist on maps, not in real life.

The redefined workforce has redefined the workplace.

Get used to it.

Good news:

Virtual collaboration skills will become critical in the future.Guess what Facebook teaches?

I am Generation X: Communicating through multichannel, Insight, and Adaptability

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