When we look at the age groups in the workforce in 2014, here are the main generations with whom we interact with at work, according to a YouTube presentation by Dr. Willyerd (20-20 Workplace - Karie Willyerd, 2012). The video is available to view at the end of this post.
Baby Boomers => 51-68 years
Generation X => 39-50 year olds
Millennials => 18-38 year olds
Back in 2005, the Baby Boomers comprised of 45% of the workforce, while the Millennials were at 25%.
In 2010, with the onset of retiring Baby Boomers, their workforce dropped 7% to 38%, while the Millennials’ workforce rose by 11% to 36%.
By next year, the Baby Boomers # will drop a further 7% to 31% of the workforce, and the Millennials will gain ground by an additional 11% to 45%.
It is in 2020 that the Millennials will comprise of 50% of the workforce, while the Baby Boomers absence will be felt with their presence at 22%, a tad above the Generation X workforce strength, which dipped slightly from 23% to 20% during these 15 years.
So what does this mean for organizations?
Just that there’s a huge demographic shift in the horizon and management needs to be prepared for the Millennial mindset and their expectations when it comes to the companies they want to work for, the managers they’re expecting to report to, their access to technology, and use of social media in the workplace and on the go.
However, Human Resources needs to first attract this growing demographic group and recruit the most talented stars from the pool.
Dr. Karie Willyerd (LinkedIn, 2014) and Jeanne Meister (LinkedIn, 2014) together wrote The 2020 Workplace: How Innovative Companies Attract, Develop, and Keep Tomorrow's Employees Today (Amazon.com, 2010), after conducting three years of research into what Human Resources is going to look like in the future, by interviewing people and surveying HR professionals around the world.
Here’s what organization recruiters can expect from Millennial job applicants (slide 14) (The 2020 Workplace - Dr. Karie Willyerd, 2012).
- 2/3rd will ask about social media during the interview.
- 56% will decline a job with a firm that does not permit social media.
- While a small number, it’s still raises eyebrows when 1/3rd prioritize social media access and use of mobility device over salary.
- 41% of companies leveraged their relaxed social media policy and use of device for social media
- 68% of Millennials expect to use corporate devices for social media and personal use.
- 70% prefer to work remotely instead of in an office.
- They spend less and less time using web-based email, year-over-year (slide 16)
- Their news source is Twitter (slide 17)
- Their search tool is YouTube and not Google (slide 21)
What can organizations do to get ahead? (slide 43)
- Fluency in the new business language.
- Access recruiting channels online to extend reach to potential employees.
- Ready existing employees for future workplace.
- Develop a clear learning & development strategy for the new Millennial employee.
- Work towards a mobile friendly HR system
- Internal social media technology tools with video conferencing for communication, learning and project collaboration.
- Train existing leaders for the 2020 workforce.
20-20 Workplace - Dr. Karie Willyerd
References:
Amazon.com.
(2010, May 11). Retrieved from The 2020 Workplace book:
http://www.amazon.com/2020-Workplace-Innovative-Companies-Tomorrows/dp/0061763276/ref=la_B003297IT2_1_1?s=books&ie=UTF8&qid=1395509964&sr=1-1
20-20 Workplace - Karie Willyerd. (2012, June 22). Retrieved from YouTube:
https://www.youtube.com/watch?v=sCsvP8Klxzs
The 2020 Workplace - Dr. Karie Willyerd. (2012). Retrieved from Center for Effective
Organization: http://ceo.usc.edu/pdf/Web_Workplace_of-the_Future_USC1.pdf
LinkedIn.
(2014, March 22). Retrieved from Jeanne Meister:
http://www.linkedin.com/in/jeannemeister
LinkedIn.
(2014, March 22). Retrieved from Karie Willyerd:
http://www.linkedin.com/in/kariewillyerd
Hey Audrey,
ReplyDeleteInteresting blog!
I found your demographic data charts clear and quick to look at. It is really interesting to study the changes in demographics over the years. It is a fact that as the demographics change, there are some changes that take place at workplace especially in terms of communications. And the management should be ready for these changes.
I liked the statistic data on what the recruiters can expect from millennial job applicants. I did not know that applicants would ask about the social media during interview and that some applicants would even decline a job offer because the job does not allow social media. Social media is of that much importance to millennial, then.
I agree with you on the opinions that employers should develop a good training and learning sessions for the workers to prepare them for the new methods used at work place. And to train them how to use social media at workplace and how to meet the high expectations of work place in the future (2020)
I listened to Karrie Wilyerd‘s you tube video you have in your blog. I really like the part that she mentions how millennial prefer practical work than sitting in the back office and reading or writing things. Her example of doctors being in contact with patients earlier in their practical period than when they are graduated is a good example of how things now have changed and most of these changes give good results to both the worker and the customer side.
Here I have a link to “an HR Recruiter's Perspective on Hiring Gen Y” that I thought you might find interesting to watch.
https://www.youtube.com/watch?v=7-CskSSYLYU
Leena Homam
Hi Audrey,
ReplyDeleteThis post was definitely very interesting. I find that despite belonging to Generation Y, I always find reading information and numbers such as these staggering. It's astonishing how quickly changes seems to come around before a new generation is here demanding the satisfaction of new needs and wants that seemed not to be there previously. I guess that's why there's always a thinking gap and agitation between generations ("in my day, we didn't need this!").
I'm curious as to whether there is enough strength and flexibility in the numbers of a previous generation to adapt enough to welcome another. It has been happening for eons, so i'm sure we all find a way. But I wonder if these changes are ever seen as anything but a burden for the generation leaving their work behind. Even now, i'm sure Generation T will find that the generation to come after them will hunger after technologies newer and greater than the ones we're currently in the process of the X's to use!
I found a link you might like of general tips that summarizes what Generation Y is really looking for, and why!
http://www.forbes.com/sites/marccompeau/2012/11/30/3-tips-for-hiring-gen-y-employees/