Bersin by Deloitte Study about the world of work in the year 2020. What will work look like when millennials take over the workforce? How will we manage our talent differently in the near future? Here we look at the challenges for talent managers in addressing a multi-generational workforce. What changes might HR professionals face in attaining, developing, engaging, retaining and rewarding the employees in their workforce at the end of the decade? In this presentation, Dr. Katherine Jones, Deloitte Consulting LLP, will cover some myths and realities about the populations entering the workforce today with considerations on what that may mean for the entire workforce by the year 2020.

1. Talent Management
2020
How to Get There from Here
Slides compiled by:
Katherine Jones, Ph.D.
Vice President, HCM Technology Research
Bersin by Deloitte
Deloitte Consulting LLP
1

2. Next Generation Talent Management
Solutions: Think about 2020
 Who will we be managing in 2020?
 How will we manage our talent differently than we do
today?
 How might it change the way we look at “work?”
2

3. Bye-Bye Boomers!
 By 2029, the U.S.
workforce will have
waved “bye-bye” to the
Baby Boomers leaving
Generation-X the
Millennials and their
successors at the helm
of organizations.
 Today’s Ages
(Roughly):
- Boomers are between
51-68
- Gen X are 30-50
- Millennials are 8-29
3

4. Bye-Bye Boomers!
 By 2029, the U.S.
 Today’s Ages
workforce will have
(Roughly):
waved “bye-bye” to the  Boomers are between
Baby Boomers leaving
Millennials51-68 be
will
Generation-X the
50% of the USA 30-50
 Gen X are
Millennials and their
successors at workforce in
the helm  Millennials are 8-29
of organizations.
2020
4

5. Millennials:
• Born between 1982 and 2004
• In 2020, they will be between 16 and 28
years old
5

6. Question
Respond in the Comments section below
Are you a:
Boomer – Born between 1945 and 1961
Generation-X-er – Born
between 1961 and 1981
Millennial --
Born between 1982 and 2003 (also known
as “Generation-Y
6

7. Millennials are Different
7

8. 80% of
Millennials
sleep with their
phones next to
their beds
They send
about 20
txts a day
http://www.forbes.com/sites/jeannemeister/2012/10/05/millennialmindse/
8

9. They are “trophy kids”
– Participation is
enough to get an award
9

10. Millennials
are a Global
Phenomenon
• 75% of the
global
workforce by
2030.
:
10

11. 28 % of
managerial
positions in
the U.S. are
already held
by
Millennials
11

12. Question: The Wild Guess Question
What percent of your workforce today is
represented by:
1/4
1/2
3/4
100%
Boomer
Gen X
Millennial
› Boomer – Born between 1945 and 1961
› Generation-X-er – Born between 1961 and 1981
› Millennial -- Born between 1982 and 2003
12

13. What Will Matter at Work: The
Millennials…
 Have developed work
characteristics and
tendencies from doting
parents, structured lives,
and contact with diverse
people.
 Are used to working in
teams and want to make
friends with people at
work.
 Work well with diverse
coworkers.
13

14. Collaboration is Global
Collaboration is Global
And immediate
14

15. But the Global Picture for Millennials
isn’t Pretty…
 More than 7.5 million young Europeans aged between 15
and 24 are not employed or enrolled in education or
training
 The rate of youth unemployment is more than double that
for adults, and more than half of young people in Greece
(59%) and Spain (55%) are unemployed.
(Marc Coleman):http://blog.hrtecheurope.com/2013/05/future-work-millenial-update
15

16. 16

17. 17

18. Myths Prevail
 Myth: Millennials are socially focused and motivated by
giving back to society.
 Reality: Millennials have lower scores in altruism, coupled
with higher narcissism, assertiveness, self-esteem, and
individualistic traits in general.
18

19. Unique Traits of Millennials—Based on
Research

20. 20

21. Less Prepared
Standardized test scores of
high-school students in the
U.S. continue
to be at an all-time low
Motivated
Even in high school, Millennials
In the U.S. worked to the same
extent as Gen-Xers and Boomers.
Pursuit of Balance
Work is less central to their life and
their identity; more younger workers
today expect a meaningful
life outside of work.
Happy Campers
American Millennials are more
satisfied with their work than are GenXers and Boomers.
21

22. What Millennials Need at
Work
Bersin & Associates. 2011.
22

23. HR’s Effectiveness and Managerial Competence in Delivering What Millennials Need
23
Bersin & Associates. 2011.

24. 24

25. 25

26. Employed
with Benefits
Interim
Exec
Long-term
temp
Short-term
Contingent
Contractor
By 2020, more than 40% of the
US workforce will be contingent
workers; that’s more than 60
million people
26

27. “Work” is Where the Worker is
Or Will
Be…
27

28. What Will it Mean
for your 2020
Workplace?
28

29. Conclusions: HR Action Items
 Recruit and hire to compensate for younger employees’ higher turnover rates
 Plan for the mobile, contingent workforce
 Beef up your manager’s onboarding skills
 Address your learning programs: develop the Millennials’ skills to close the gap
left by secondary education
 Support innovation and collaboration – seek the balance
between fresh (sometimes irreverent) ideas and working with a
team to make ideas reality
 Provide acknowledgment for achievements through pay-for performance
practices and other types of recognition to motivate
 Promote employee engagement to counteract Millennial flight
29

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by means of this publication, rendering accounting, business,
financial, investment, legal, tax, or other professional advice or
services. This publication is not a substitute for such professional
advice or services, nor should it be used as a basis for any decision
or action that may affect your business. Before making any decision
or taking any action that may affect your business, you should
consult a qualified professional advisor.
Deloitte shall not be responsible for any loss sustained by any person
who relies on this publication.
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