The Workforce Revolution: Implications for Leaders€¦ · Generation Z, the youngest generation, now entering the workforce, the needs and expectations of employees are changing.
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3 “At US Bancorp, millennials now make up 57% of the call center workforce. [The bank has] discovered it needs to modify training methods, incorporating multimedia training, and the bank leans on coaches to help young hires get up to speed.” Minneapolis Star Tribune, November 16, 2014.
leadership, though now in their
late 30s and 40s, many have
moved on to other career and
life goals, such as
entrepreneurship. And this year,
Millennials became the largest
demographic in the workforce.
Consider:
In 2014, Millennials will make up 36% of the US workforce
By 2030, they will be 50% of the US workforce
This shift is even more evident in
other parts of the world. By
2025, Millennials will make up
75% of the global workforce.4
The rapid unleashing of post-
recession demographic shifts
means that organizations must
4 U.S. Bureau of Labor Statistics / The Business and Professional Women's Foundation
5 Dan Schawbel, Career Partners International Webinar, “Generation Z: Understanding the Next Generation of Worker” Nov. 6, 2014. http://www.cpiworld.com/knowledge-center/webinars/generation-z-understanding-the-next-generation-of-worker 6 http://millennialbranding.com/2014/geny-genz-global-workplace-expectations-study/
collaborate, although
employees don’t need to
be in the same physical
location
Place more emphasis on
the work itself and less on
where and when the work
gets done
Give them access to the
best, most recent
technology
Offer them work
opportunities that align
with their strengths
2. Leadership Qualities
The youngest generation desire
leaders who are:
Honest and transparent
enough to share as much
as possible
Visionary and can identify
a future that enhances
people, communities or
the world, and then
generate the solidarity to
get there
Communicative and adept
to articulate and exchange
information in all formats,
but especially in-person
3. Wellness and Community
Involvement
Value is placed on employers
who “give back”:
40% feel it’s very or
extremely important that
their company has a
wellness program which
may include health
screenings, a gym,
incentives for being
healthy, and
walking/standing desks
Gen Z says the biggest
obstacle that could get in
the way of job
performance is stress
77% of Gen Z and 63% of
Gen Y are very or extremely
interested in volunteering
to gain work experience
What incentive would motivate you to work
harder and stay at your future employer longer?*
*From ”Gen Y and Gen Z Global Workplace Expectations Study” Millennial Branding & Randstad, September, 2014
7 http://time.com/money/3584634/phased-retirement-federal-boomer/ 8 Talent Management Alliance, Succession Planning Summit, www.the-tma.org/ 9 “Gen Y and Gen Z Global Workplace Expectations Study” Millennial Branding & Randstad, September, 2014 10 Career Partners International Webinar with Dan Schawbel, “Gen Z: Understanding the Next Generation of Worker”, November, 2014.
About the Author Debra Magnuson, Vice President of Talent Management at Career Partners International - Twin Cities, is an executive coach, career counselor, leadership development consultant, speaker, and author. Her clients include executives, teams, and organizations working on career development, leadership and coaching skills, change management, innovation, and succession planning. She is a keynote speaker, group facilitator, and presenter to audiences large and small. With a specialty in managing across generations, Debra is co-author of the book, Work With Me: A New Lens on Leading the Multigenerational Workforce, and serves as a recurring Vistage speaker on the topic. Additional information may be found at www.cpitwincities.com.
About Career Partners International Career Partners International enhances organizational performance and people’s lives every day! As a global leader in talent management consulting since 1987, organizations of all sizes and industries trust Career Partners International for the very best outcomes to their most challenging and important talent strategies and initiatives. With the most experienced and respected consultants in more than 45 countries, Career Partners International provides clients with one-on-one access to local experts in talent development, career management, executive coaching, outplacement, and career transition services to successfully assess, engage, develop, and transition talent to drive organizational performance. Additional information may be found at www.cpiworld.com.