Impacts of Generational Shifts in the Workforce (Presented by The Mitre Corporation)

IMPACTS OF GENERATIONAL SHIFTS IN THE WORKFORCE

The MITRE CorporationPrecentors: Cozy Bailey, Tamal Burise, Chasidy Perrin and DeAnthony Heart

Video Showing Challenges of Millennials

Simon Sinek on Millennials in the Workplace

Overview of Generations

Why Should We Care?

Source: HubPages - Motivating, Managing, Retaining Generation X and Gen Y, Z Employees: Updated on November 14, 2016

Generation Workforce Perception

XYZ: How Generation Affects Employee Engagement – Amanda Shore, September 14, 2015, Herd Wisdom

Attitudes Towards Technology Use

Attitude Towards Social Media

Photo Credit: Entrepreneur.com - 2015

Attitude Towards Career

Millennial Attitudes Towards Career

Reference: The 2016 Deloitte Millennial Survey

Millennial Engagement

Reference: Gallup, How Millennials Want to Work and Live (2016)

Millennial Engagement

• Encourage mentorship• Have purpose beyond profit• Provide developmental opportunities• Foster open communication• Build an inclusive work culture• Create the “perfect” job, environment

Reference: The 2016 Deloitte Millennial Survey

The “Perfect” Millennial Job

Dilemmas Faced by Future Generations

• Readiness – there are gaps in terms of capabilities of younger employees and their readiness to enter the workforce– Of 16.5 million students in grade 9 to 12, 33%

estimated to graduate, and 2.3% expected to go into accounting and business consulting

• Experienced Talent– Every year for the next 30 years, there will be

fewer young people to replace retiring workers

Reference Deloitte LLC report, Decoding Generational Differences, 2008

Dilemmas Faced by Future Generations

Generational Divides Between Millennials and Other GenerationsTechnology

• Unprecedented and embedded use of technology in day-to-day life (Digital Natives vs. Digital Immigrants)

• “New technology is not just a toy, but the basis of how we live”

Attitude Towards Business • Skeptical towards corporations • “Organizations are not human too”

Consumer Attitude Mindset • Place a value on convenience and expect high standard of service• “Microwavable solutions”

Reference: from Deloitte LLC report, Decoding Generational Differences, 2008

The Good News…

Millennial perspectives of government is better than other generations

– 62% of millennials believe a strong Federal government is necessary to solve problems (compared to 46% of non-millennials)

– 44% of millennials voice confidence in the ability of Federal government to solve problems (14 points higher than older generations)

Taken from Center for American Progress report, Doing What Works, July 2010

Relevant “Facts”…• The Millennial generation is better educated and more

diverse than any other generation in U.S. history. ($1 trillion in student debt – Bloomberg)

• Millennials place high value on “work-life balance”.• The top ideal employers of currently employed

Millennials are Google, Apple, Facebook, the U.S. State Department, and Disney. Five of the top 15 most ideal employers are government agencies (State Dept., FBI, CIA, NASA, and Peace Corps).

• Members of Gen Y are believed to be the most tech-savvy (78% of respondents agree) who know how to use social media to leverage opportunities (70% of respondents agree).

• 35 % of employed Millennials have started their own business on the side to supplement income

Taken from Center for American Progress report, Doing What Works, July 2010

Game Time

• Rules– We pose a question, if you believe the

answer to the question is yes you move to the right side (our left) and vice versa

– We will ask a few people to shed light on to why they believe the answer to the question is either yes or no

– Let’s Begin!

Question 1Do you believe technology makes life more complex?

NO YES

Question 2Are there differences in how each generation perceives compensation?

NO YES

Question 3Should organizations have training for employees to generate a common understanding of the varying generations in the workforce?

NO YES

Q/A Session

Ask us anything!

Thank You!