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Talkin’ About Our Generation. 1. U.S. Labor Market 2011. 10 million more jobs than available workers to fill them 2 experienced workers are leaving for every 1 inexperienced w orker entering RainmakerThinking Inc. 2. Minnesota State Retirement System 2008 Workforce Report. - PowerPoint PPT Presentation
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1 3/20/2009
Talkin’ About Our Generation
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2 3/20/2009
U.S. Labor Market 2011
10 million more jobs than available workers to fill them
2 experienced workers are leaving for every 1 inexperienced worker entering
RainmakerThinking Inc.
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3 3/20/2009
Minnesota State Retirement System2008 Workforce Report
• Average age of retirement is 60.• 9% of the current workforce is at or above the
average age of retirement.• 24.4% of the current workforce will reach the
age of retirement by 2013.• 42.5% of the current workforce will reach the
age of retirement by the year 2018.
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Executive Branch Age Distribution (5 years)
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“In the quest for talent…
…NOTHINGyou’ve done in the past will
suffice for the future.”
Gartner Group, Inc.
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Why is this information important?
• Labor shortage realities • Free agency concept – all generations• Philosophy of incoming generations
– Expectation that they will be courted– Employability vs. “a job” – Decreased employer loyalty
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Economics 101: Supply and Demand
SUPPLYFewer workers
DEMANDHigh demand for workers
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New Assumptions About the Incoming Workforce• Psychological contract between employer and employee is changing.• No two people will approach work the same way. • Employability vs. “a job.”• The quality of peers will matter.• Talented people will move around.• Employers will need to develop partnerships with educational
institutions for candidate pipelines.• Develop more entry-level positions.• Employment and human resource models WILL change.
Gartner Group Inc.
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9 3/20/2009
Human Resource Models
• Old: Industrial and Boomer Models• New: Just in Time Workforce, Hollywood Models• Unions/Workforce Planning (MAD)
The market will demand a more FLUID
workplace, which is more RISKY
for the employer.
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10 3/20/2009
The Generations
• Traditionalists/Matures/Veterans 1922 - 1946 7%• Baby Boomers 1946 - 1964 41%• Generation X 1964 - 1978 30%• Generation Y/Millenials/Nexters 1978 - 1990 22%RainmakerThinking Inc.
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11 3/20/2009
Traditionalists/Boomers Outnumbered
2005 U. S. Workforce
Gen X/Y tipped the scale: at 51.5% with the Traditionalists/Boomers at 48.5%
Gen X - constant at 30% Gen Y - fastest growing
Managing the Generation Mix, Martin, Tulgan
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12 3/20/2009
Office of Enterprise Technology
• Traditionalists 24 employees 7.1%• Boomers 244 employees 72.4%• Gen Xers 63 employees 18.7%• Gen Yers 6 employees 1.8%
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Generational Cohort Defined
People who were born and live in the same general time span who share the
sociological, political and economic conditions of that time and
key life experiences and defining moments that combine to shape
attitudes, preferences and values unique to that cohort.
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The Generations…and how they differ at work…
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Traditionalists: 1922-1946
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Traditionalist Work Profile
• Work ethic/family values• Like structure and a clearly defined hierarchy • Like consistency and uniformity • Respect for authority • Seniority and age correlate • Conformers
This hardy group of workers will virtually disappear from the workplace by 2011.
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Traditionalist Benefits/Challenges
Benefits
• Respect authority• Hard workers• Work ethic
Challenges
• May take a little longer to learn technology
• Work best within hierarchical environments
• Learned to do without
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Baby Boomers: 1946 – 1964
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Boomer Work Profile
• Defined by work/work needs to have meaning• Workaholics who value “seat time”• Competitive, driven• Service oriented• Good at relationships
– democratic, humane, consensus, collegial• Enjoy standing out and getting ahead/Wall of Fame • Economic achievers
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Boomer Benefits/Challenges
Benefits
• Experienced• Influential• Love work• Love teams• Love meetings• Competitive, driven
Challenges
• Often put process ahead of results• Love work• Love teams• Love meetings• In person communication• History of influence
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21 3/20/2009
Generation X: 1964 – 1978
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Gen X Work Profile• Prince Charles syndrome• Training and development opportunities • Independent, self reliant • Learned to challenge authority• Global thinkers• Technoliterate• Seek work/life balance • Casual dress jobs• Teamwork
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Xer Benefits/Challenges
Benefits
• Results oriented• Self-reliant• Prefer quick learning and
action vs. what you know• Work independently
Challenges
• Sidestep rules and procedures
• Free agents• Reject “the way we do
things around here”• Apprentice to master model
and pay
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Generation Y: 1978 – 1990
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Gen Y Work Profile• Optimistic about personal success• Teamwork must have value to each individual involved• Goals matter• Like timely feedback• Expect supervisors to provide direction and coach them • Prefer individual, customized work environments• Casual dress days are serious• Training & development opportunities• Recognition• Impactful work• Work/life balance • Want to work for companies that are socially responsible
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Yer Benefits/ChallengesBenefits
• Technologically savvy• Ability to multitask• Goal-driven• Adaptable• Efficient• Committed to work
they believe in• Educated
Challenges
• Want timely feedback• Ask a lot of questions• Want individual work
environments• Prefer electronic communication• Disengaged• Impatient• Opinionated
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Traits of an Effective GenMix Organization
• Be “generations friendly.” • Treat employees as you do your customers.• Prepare to be more involved with them. • Know their career goals.• Manage them to meet their specific needs with the understanding
that you still have to manage their performance.• Make time to try new recruiting, hiring, interviewing, onboarding
methods and management techniques based on generational differences.
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Resources • Generations at Work: Zemke, Raines, Filipczak• Managing the Generation Mix: Martin, Tulgan• Research: 2007 RainmakerThinking Inc., contact
[email protected] • Job Shift: Bridges• First Break All the Rules: Buckingham, Coffman
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