Preparing for the future workforce: 2020 - A look at the impact of the Gen Y generation on the work force trends and how they will be shaping how we recruit, retain, develop and engage the workforce in coming decades. A look at the impact of technology, mobile, social, and more.
Presented by Sarah White (@ImSoSarah) founder of Accelir - a Strategic Advisory firm focused on talent. Sponsored by SAP SuccessFactors - A talent management platform.
7. Gen-Y will form 75 percent of the workforce by 2025
-Business and Professional Women’s Foundation
8. GEN Y IS
FUNDAMENTALLY DIFFERENT
Huge Impact of Technology - (SoMo)
Globalization of Life
Self Managed Development
9.
10. GEN Y IS SOCIAL
66% would look up a store after learning their friend had checked
in
100 hours of video is uploaded to YouTube every minute
40 Million Pictures are uploaded to Instagram each day
11. 26% ofto social media sites in
companies still block
accesstheir workplaces
12. Gen Y Grew Up Mobile
•
Among student tablet
owners, 76% said tablets
help students perform
better in class
•
75% of 12-17 year-olds now
own cell phones.
•
25% of smartphone users
18-44 can’t recall the last
time their phone wasn’t
next to them.
13. Executive Disconnect
36% of Executives say their CEO
“doesn’t care or cares little” about social
media & brand reputation on it
33% of Gen Y would prioritize social
media freedom, device flexibility and
work mobility over salary
19. Recruiting talent
Be proactive at identifying
needs and creating pipelines of
talent
•
Sourcing
•
Adopt consumer style strategy
for marketing and engagement
- talent shortages for good
candidates never go away
•
Look at positions & candidates
for skill sets vs titles
Recruiting
Employment Branding
Candidate Experience
20. Managing talent
•
Build company loyalty and
relationship from day one.
•
Identify skills gaps on teams as
well as worker interest to
develop talent internally to
meet needs for growth
•
Have an environment that
people want to work in
Onboarding
Succession Planning
Team Building
Employee Engagement
21. Developing Talent
•
Self Directed Learning
Opportunities
•
Allow workers to develop
their own ascension plans to
work off for training
•
Strong mentorship programs
with retiring workforce including interesting job share
arrangements
Learning
Social Collaboration
Mentorship
Personal Development
22. Retaining Talent
•
Never Stop Recruiting
Employees
•
Create a culture of referral
•
Identify high potential workers
and fast track them
•
Use analytics, technology and
quantitative data to the
extreme
Hi-Po Identification
Internal Referral
Programs
Re-Recruiting
Analytics
23. What else should companies
think about?
•
New workforce structure - Contingent, Part Time,
Flexible, Retained Experts, Consultants and On-Call
workers
•
Phased Retirement Programs - Valuable for both Gen Y
and Boomers. Most ROI for businesses.
•
Loss of the “pink-collar” workforce - No longer will
female dominated roles exist
25. Results-Only Work Environment (ROWE) program allows certain corporate employees in to
work virtually anywhere, anytime, as long as they successfully complete their assignments on
time.
This shift increased productivity 41% at headquarters and had as much as 90% reduction in
turnover.
Companies like 3M, HP & Google have set aside time for groups of their
employees to focus on pet projects and innovations outside of their normal day to
day role.
And for much success dating back to mid century - products like Post-it notes,
GMail, HTML and AdSense have all come out of this innovation time.
26. It All Has to Work
Recruiting
Managing
Together
Sourcing
Recruiting
Employment Branding
Candidate Experience
Onboarding
Succession Planning
Employee Engagement
New types of
“Employee”
New Workday Structures
Social Collaboration
Mentorship
Developing
Learning
Team Building
Personal Development
Hi-Po Identification
Re-Recruiting
Retaining
Internal Referral Programs
Analytics
27. The Future Workforce: Prepare
for Managing Talent in 2020 &
Beyond
Sarah White
Founder, Accelir
Sarah@Accelir.com
Editor's Notes
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
McKinsey & Company predicts a shortage of 1.5 million college grads to fill jobs.
BLS projects that approximately 25 percent of the labor force will be age 55 and older by 2020. All workers belonging to the Baby Boomer generation will then be at least 56 years old
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
1.1 Billion Monthly Active Users on Facebook
550 Million Active Users on Twitter
77% of mobile users use their phones and tablets for searching & social networking
Number of people accessing internet via mobile on a regular basis has increased more than 60% in last 2 years
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
The most dramatic jump in demand will be in emerging Asia, where the need for new employees will rise 22%. Other emerging markets that will see above average growth in demand are Latin America (13%), Middle East/Africa (13%) and Eastern Europe (10%).
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
Gen Y may not add their company name to facebook - but on average they will connect up with 16 coworkers - people like to work with friends and be a part of a team.
Thirty-five percent of millennials want to communicate with their bosses multiple times per day, according to the RHI and Yahoo! study, while only 10 percent of this generation would be satisfied with weekly communication. This instant and constant feedback is much preferred over structured, infrequent reviews
According to the Chicago Tribune, 30 percent of companies lose 15 percent or more of their Millennial employees every year, and replacement costs can range from $15,000 to $25,000 per employee
more than 60% of millennials leaving their company in less than three years, employers are facing a very expensive revolving door.
Gen Y may not add their company name to facebook - but on average they will connect up with 16 coworkers - people like to work with friends and be a part of a team.
Gen Y may not add their company name to facebook - but on average they will connect up with 16 coworkers - people like to work with friends and be a part of a team.
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials)