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Trend-changing workforce

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Trend-changing workforce

  1. 1. EMERGING TRENDS IN THE WORKPLACE Angela Griffin Agriffin0528@gmail.com Abstract The Baby Boomers are exiting the Workforce at a rate of 10,000 a day. With them they are taking valuable skills and knowledge. They are being replaced by the Millenniums who are really different from Baby Boomers. They have a set of ideals and values that are different from any other workforce. With this movement and difference great change within the workplace will need to take place. If employers are to attract and retain talented Millenniums they will need to change. What worked for my mother (baby boomer) in the workplace will not work for my son (millennium)?
  2. 2. Angela Griffin Training and Development October 2, 2016 Nothing stays the same. And according to Knoll Workplace Research there are five trends that will dramatically change work and the workplace. This research was conducted by Joe Aki Ouye, Ph.D. Co-Founder and Partner New Ways of Working, LLC. Joe argues that “The first two trends have been around for more than a quarter of a century: 1. The continuing distribution of organizations 2. The availability of enabling technologies and social collaboration tools 3. The coming shortage of knowledge workers who from here on out I will refer to as the Baby Boomers 4. The demand for more work flexibility 5. Pressure for more sustainable organizations and workstyles. In this paper I will focus on the third trend “the upcoming shortage of knowledgeable workers. The Boomers have started retiring in record numbers; 10,000 a day and in their retirement they are creating a knowledge void that if not managed effectively will cause chaos, dysfunction and potentially outright failure in the workplace. the Millennials are the emerging trend who will replace the Baby Boomers in the workforce. There numbers in the workforce are increasing rapidly and preparation for an even great flow of their migration into the workforce needs to be seriously taken into consideration. They are coming! However, before discussing the trend and what measures I believe should be considered in an effort to prevent total chaos and dysfunction in the workplace I will briefly discuss the Baby Boomers; those who will be passing the torch to the new workforce the millenniums.
  3. 3. The Baby Boomers were born between 1946 and 1964. The oldest of the 79 million Baby Boomers reached age 65 in 2011 and the youngest will get thee by 2029. They are work- centric: Baby Boomers are extremely hardworking and motivated by position, perks and prestige. Baby Boomers relish long work weeks and define themselves by their professional accomplishments. Baby Boomers may criticize younger generations for a lack of work ethic and commitment to the workplace. Baby Boomers are confident, independent and self-reliant. This generation grew up in an era of reform and believe they can change the world. Baby Boomers are not afraid of confrontation and will not hesitate to challenge established practices. With increased educational and financial opportunities than previous generations, Baby Boomers are achievement-oriented, dedicated and career-focused. They welcome exciting, challenging projects and strive to make a difference. Baby Boomers equate work and position with self- worth, they are quite competitive in the workplace. They are clever, resourceful and strive to win. Boomers believe in hierarchal structure and rankism and may have a hard time adjusting to workplace flexibility trends. They believe in "face time" at the office and may fault younger generations for working remotely. So who are the millenniums? aka the “Sunshine” generation if you find yourself in Canada. Millenniums are those who between the ages of 18-34 in 2015. (http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/). They number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released this month by the U.S. Census Bureau. According to Neil Howe and William Millenniums have always been treated as special and important. This generation of children has been the most wanted. Every milestone was marked with celebrations and praise. They may
  4. 4. carry a sense of entitlement about them and have an expectation of frequent positive feedback. It’s been instilled in them that they are vital to the nation and to their parents’ sense of purpose. They feel they are here to solve world problems that older generations have failed to solve. They may claim they want privacy, but they crave attention. They were rarely left unsupervised. They were sheltered from having to take care of their own conflicts as parents advocated on their behalf, and “spared” them from unpleasant experiences. As college students, they may expect faculty and staff to shelter, protect, and nurture them – and resolve their conflicts for them. As workers they will expect the same. They are motivated, goal-oriented, and confident in themselves and the future. They expect college to help launch them to greatness. They have high levels of optimism and they feel connected to their parents. They are assertive and believe they are “right”. They are group oriented rather than being individualists. They may sacrifice their own identity to be part of the team. They prefer egalitarian leadership, not hierarchies. They are forming a tight-knit generation. While they are group-oriented within their own cohort, they may “politely” exclude other generations. They do not want to stand out among their peers, they want to be seen as part of the group. They dislike selfishness and are oriented toward service learning and volunteerism. They see college as the key to a high paying job and success. Their focus is more on the world of achievement rather than personal development. Millenniums are very patriotic (shaped by 9/11). https://students.rice.edu/images/students/AADV/Oweek2008AADVResources/Characteristics%2 0of%20the%20Millenial%20Generation.pdf. They are the most educated generation They are extremely tech savvy. Ambitious but not entirely focused. Millenniums are attached to their gadgets. They have not lived without computers. They are eager to spend money and fiercely independent. They believe in making change using technology. Their parents are their heroes.
  5. 5. Millenniums are very innovative; they think out the box. Millenniums are loyal to their peers. They make workplace friends They have a “Me First “attitude in work life. Millenniums are driven please others. They seek responsibility early on in their roles at work. They are ambitious What’s next? They will test authority but often -seen out authority figures when looking for guidance. Millenniums are effective workers but gone @5PM. View work as a “gig” or something that fills the time between weekends. Training is important and new skills will ease stressful situations. They are motivated by learning and want to see immediate results. They are interested in a balance with work, life and community involvement and self-development. Flex time, job sharing, and sabbaticals will be requested more by this generation. They content that because of technology, they can work flexibly anytime, anyplace and that they should be evaluated on work product-not how, when or where they got it done. They have a high Expectation to influence the terms and conditions of the job. Their work ethic does not mandate 10 hr days. Millenniums are very patriotic (shaped by 9/11). They place high expectations on their bosses and managers to assist and mentor them in attainment of professional goals. Millenniums desire long-term relationships with employers, however they will leave if they are not satisfied. Millenniums are goal oriented. Millenniums are Looking for careers and mentoring is important to them; they are obsessed w/ career developments. They thrive in informality &fun. Millenniums recognize that people make the company successful. They are quite tolerant of difference and thrive in a collaborative work environment. Training is important to them. They expect to learn new knowledge and skills (they see repeating tasks as a poor use of their energy and time and an example of not being taken seriously) They respond poorly to inflexible hierarchical organizations. They are quite responsive to more networked, less hierarchical organizations. Flexible schedules Want to be
  6. 6. evaluated on output not input- on the work product itself They expect to be paid well They want to make a difference Because of being a product of the “drop down and click menu”, they may need to be given a list of options. They despise for menial work (they are brain smart) They want to work with bright, creative people, they expect to be treated respectfully. Millenniums were raised to feel valued and are very positive about themselves; they see as a sign of disrespect any requirement to do things just because this is the way it has always been done or to pay one’s dues. Things are changing and Employers need to make the necessary adjustments if business is to be well. For every action there is a reaction and the same rule applies in social dynamics. Knowledge is power and based on what is known about the millenniums it is no doubt that this emerging trend will definitely impact the training and business strategy alignment of organizations? The wise employer will make the necessary adjustments in a way that will meet the needs of the incoming millenniums and meet the business objectives. What this will lock like is that they will begin the process of engaging the millenniums in a manner that is respectful of who they are; they will move toward incorporating new training programs into the culture of the company that will appeal to the millenniums The wise employer will also take this opportunity to align the bossiness strategy in a manner that will satisfy the millenniums in a way that will motivate them to excel. When an employee excels this makes for a company that excels. Companies who demonstrate dynamic employer/employee relations are those companies that attract and retain dynamic talent; which is essential to organizational success. Knowing who you are dealing with is key in engagement. With millennials set to make up 50 percent of the global workforce by 2020, and 75 percent by 2025, it's important that employers who haven't already
  7. 7. started to make the changes that are needed to attract and retain talented millenniums start to think about making those changes. Appropriate engagement of millenniums will be critical business success. For many millennials, it is not enough that their work simply be a way of earning a paycheck. This generation is unique in its social consciousness, and members of the millennial generation make decisions based on that awareness. According to a Business Insider article, 90 percent of millennials say that their purchasing decisions are influenced by a company's social commitment, while 63 percent say that they expect their employers to contribute to a social cause. Millennials are more likely to stay engaged at work (and come to work for you in the first place) if your business has a reputation for social responsibility. Anything you can do to show a connection between employee value and work, such as providing opportunities for volunteering or donating to a worthy cause, can go a long way towards keeping those employees engaged. Millennials are more likely to stay engaged at work (and come to work for you in the first place) if your business has a reputation for social responsibility. Anything you can do to show a connection between employee value and work, such as providing opportunities for volunteering or donating to a worthy cause, can go a long way towards keeping those employees engaged. the most crucial mistakes that managers often make with millennial employees is failing to communicate with them regularly. Millennials crave regular feedback on their work, not because they want to be patted on the back every time they complete an assignment, but because they want to do solid work. Millennials often seek out feedback as a way of growing in their jobs and ensuring that their work is valuable to the company. With that being said, some form of employee recognition can be a great way of motivating millennial employees. They aim for positions where they feel that their skills will be
  8. 8. put to use so they can best help the company. Managers can keep their millennials motivated by providing career training opportunities and stressing opportunities for advancement Just like with work, millennials also want to be able to connect with their co-workers, both in and out of the office. Smart managers will take heed and devote a significant portion of their time to team- building and encouraging socializing. One way they can do that is to embrace social media and other online platforms and encourage employees to join in. While some may view this as a potential distraction, it can ultimately help your business by turning your workforce into a tightly-knit community and facilitating strong communication between your employees. While millennials can be highly dedicated to their work when some of the above conditions have been met, it doesn't mean they love the idea of spending eight hours cooped up in an office every day. For the first generation of digital natives, the very idea of an office can feel somewhat antiquated since they are fully aware of how much work can be accomplished with little more than an Internet connection. It may seem counter-intuitive, but while many millennials are extremely interested in forming meaningful connections with their work and their fellow employees, they also tend to view themselves as being more independent than workers from earlier generations. Employers may find that they will get the most productivity out of their millennial employees by giving them the freedom to work remotely when possible, and by creating a casual office environment that allows employees to move around and work in groups. When it is al said and done the employer who realizes that things will need to change will have the greater understand of how important this information is and how important it is to be open and willing to do what is needed for the success of the company. The key is to work with the millenniums; if the feel respected they will be motivated to do great work.
  9. 9. http://www.trainingindustry.com/workforce-development/articles/how-to-engage-millennials-in- the-workplace.aspx https://www.massmutual.com/businesses/educational-articles/millennials-in-the-workplace Millennials will enter the work force with more experiences than any generation before them. They will continue to seek this through requests for more experiences and opportunities. If they don’t get it at their work, they will seek it elsewhere. Willing and eager to take risks; don’t mind making mistakes-they consider this a learning opportunity. Millennials are the best-placed generation to develop as leaders because of their understanding of the reality of today’s world, commented Angus Ridgway, cofounder of Potentially. Walker Smith argued that in order to understand how to develop Millennials as leaders, it’s necessary to take into account how they differ from other generations. Millennials. A generation which has frequently been labelled as loyalty-lite, hungry for feedback and with high expectations for rapid career development. Yet harnessing the talent and loyalty of this generational cohort will be absolutely critical in the next 10 to 15 years’ time as many of these Millennials ascend to leadership positions. Deloitte estimates that Millennials will make up 75% of the global workforce by 2025. However, it appears as if the leadership development of Millennials isn’t seen as a priority for organizations, according to a Brandon Hall Group’s 2015 State of Leadership Development Study. The study found that just 20% of organizations identified the Millennial leader segment as critical for development over the next 24 months. Neither are organizations invested in coaching and mentoring of Millennial leaders. Millennial leaders crave advice particularly from senior leadership yet on average, just 7% of organizations invested in offering Millennial coaching, mentoring and dedicated time with their chief executive and other senior leaders. Attracting and retaining the best of this generation is critical to the future of any business, remarked Sib
  10. 10. O’Connell, executive vice president and managing director for Europe at Cielo the Millennial population in the workforce is increasing rapidly, many baby boomers have already reached, or are fast approaching, retirement age. The flight of baby boomers, and consequent loss of skills and experience built up over many years, could leave a significant skills gap. One of the reasons why millennials are so interested in performing well, receiving feedback, and earning recognition for their work is that they are very interested in career advancement. Millennials tend to disengage quickly if they feel stuck in a dead-end job. The primary challenge that I see training departments potentially having is in failing to prepare. As it is said, “fail to plan and you plan to fail”. It is essential that employers acknowledge that this issue is a valid issue of concern, that they fail to seriously take into consideration who the millenniums are as a group, their lack of understanding the importance of taking the millenniums learning style into serious consideration in the development of their training programs, a resistance to build another wheel. In other words, training departments may need to toss out some of their training programs and bring in new programs that appeal to millenniums. currently are using and replace Must seriously take into consideration their learning style and prepare to make all necessary adjustments so that training will be effective. It has been made apparent that many of the current learning theories and teaching styles are not efficient with the millenniums. It is apparent that adult learning theories will need to be re- examined and readjusted to meet the needs of the millenniums. Millennials don’t need traditional classroom-based leadership training. They don’t want to spend time studying. In their time- pressed world, they are eager to get to action. They will respond much better to approaches that allow them to practice and ritualize new leadership behaviors without leaving the context of day- to-day life. Training department need to immediately start the process of seeking out those
  11. 11. trainers and training institutes who specialize in training modalities that appeal to millenniums and utilize training and learning modalities that appeal to them. We are already witnessing the early stages of the wave of new instructional design methodologies/technologies that are being created to meet the learning styles of the millenniums and generations to come. So what does this mean for business. Easy answer; the leader who yields to the facts of what is coming down the pipe (a whole new group of workers who are really different from other generations) is the leader who will take this information in and immediately make preparation to adapt her engagement styles, training programs and development programs to the align with who the millenniums are and what they need. The employer who understands the value of attracting and retaining talent will make the appropriate adjustments sooner than later. The employer who is committed to meeting the business objectives will make the adjustments. The smart leader will make the adjustments. Can’t fit a square peg into a circle. Change is inevitable. The wise employer will adjust to these changes by make the essential changes thereby setting himself, the employee and the company up for success. The not so wise employer will stand in denial or reluctance and will reap the repercussions of not listening to what is being said here; “start preparing for the Millenniums”.
  12. 12. Bibliography Glenn Kessler; Do 10,000 baby boomers retire every day; Washington Post; ?https://www.washingtonpost.com/news/fact-checker/wp/2014/07/24/do-10000-baby-boomers- retire-every-day/; October 2. 2016 Richard Fry; Millennials overtake Baby Boomers as America’s largest generation; Pew Research Center; http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/; October 3, 2016 Jessica Brack Executive Vice President & General Manager 2U Inc. & Kip Kelly Director UNC Executive Development ; Maimazing Mileniums in the Workplace; Kenan-Flager Business School;https://www.kenan-flagler.unc.edu/executive-development/custom- programs/~/media/DF1C11C056874DDA8097271A1ED48662.ashx; Oct 3, 2016 Bill Widdicomb; What happens when milleniums run the workplace? New York Times; http://www.nytimes.com/2016/03/20/fashion/millennials-mic-workplace.html?_r=0; October 4, 2016

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