The Future Workforce: Prepare for Hiring and Managing Talent in 2020 and Beyond

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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.

Published in: Business, Technology
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  • 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)
  • The Future Workforce: Prepare for Hiring and Managing Talent in 2020 and Beyond

    1. 1. The Future Workforce: Prepare for Managing Talent in 2020 & Beyond Presented By: Sarah White Founder, Accelir Sponsored by:
    2. 2. Generations in the workforce
    3. 3. Source: Multigenerational Workforce Infographic, 2013, Michael C. Fina & Accelir
    4. 4. Gen Y isn’t “Just another generation” “Just another generation”
    5. 5. Gen-Y will form 75 percent of the workforce by 2025 -Business and Professional Women’s Foundation
    6. 6. GEN Y IS FUNDAMENTALLY DIFFERENT Huge Impact of Technology - (SoMo) Globalization of Life Self Managed Development
    7. 7. 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
    8. 8. 26% ofto social media sites in companies still block accesstheir workplaces
    9. 9. 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.
    10. 10. 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
    11. 11. 50% of world population is under 30 years old
    12. 12. How Do we prepare?
    13. 13. 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
    14. 14. 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
    15. 15. 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
    16. 16. 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
    17. 17. 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
    18. 18. Business Impact of NEXT Generation Business Strategies
    19. 19. 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.
    20. 20. 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
    21. 21. The Future Workforce: Prepare for Managing Talent in 2020 & Beyond Sarah White Founder, Accelir Sarah@Accelir.com

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