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Talkin’ About Our Generation

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.

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Talkin’ About Our Generation

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  1. Talkin’ About Our Generation 1

  2. U.S. Labor Market 2011 10 million more jobs than available workers to fill them 2 experiencedworkers are leaving for every 1 inexperienced worker entering RainmakerThinking Inc. 2

  3. 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.

  4. Executive Branch Age Distribution (5 years)

  5. “In the quest for talent… …NOTHING you’ve done in the past will suffice for the future.” Gartner Group, Inc. 5

  6. 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 6

  7. Economics 101: Supply and Demand SUPPLY Fewer workers DEMAND High demand for workers

  8. 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. 8

  9. 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. 9

  10. 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. 10

  11. 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 11

  12. 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%

  13. 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. 13

  14. The Generations …and how they differ at work… 14

  15. Traditionalists: 1922-1946 15

  16. 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. 16

  17. 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 17

  18. Baby Boomers: 1946 – 1964 18

  19. 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 19

  20. 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 20

  21. Generation X: 1964 – 1978 21

  22. 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 22

  23. 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 23

  24. Generation Y: 1978 – 1990 24

  25. 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 25

  26. Yer Benefits/Challenges Benefits 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 26

  27. 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. 27

  28. Resources Generations at Work: Zemke, Raines, Filipczak Managing the Generation Mix: Martin, Tulgan Research: 2007 RainmakerThinking Inc., contact sandra.marks@state.mn.us Job Shift: Bridges First Break All the Rules: Buckingham, Coffman 28

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