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The Changing Nature of Work
Capturing the Millennial Workforce and Enhancing Organizational
Performance through Social Collaboration
© 2012 SAP AG. All rights reserved. 2
Ready or Not, The Workforce is Changing!
Globalization
• Global access to
markets and talent
will reshape business
– Talent Markets are
Global
Demographics
• 5 generations will be
working side by side
in organizations
Social Web
• Social media will
connect employees,
customers & partners
for immediate
connection
Equal and Simultaneous Forces are Shaping the Future of Work
© 2012 SAP AG. All rights reserved. 3
Traditionalists
• Born before
1946
• ~46M
Baby
Boomers
• Born 1946-1964
• ~78M
Gen X
• Born 1965-1976
• ~50M
Gen Y
(Millennials)
• Born 1977-1997
• ~88M
Gen 2020
• Born 1998+
• ~41M
Get to Know Your Workplace Generations
Do you know the demographic breakdown of your workforce?
How is this likely to change in 5 years? What about 10?
© 2012 SAP AG. All rights reserved. 4
Demographics in Action: The Latest Numbers (U.S.)
2014: Millennials will comprise 36% of U.S. workforce
 By 2020 Millennials will comprise nearly half (46%)
 Gen X = 16% of workforce
 Median age of workforce expected to increase to 42 in 2020
How this affects your business:
 Workforce growing at a slower rate
– Pension and health costs rise just as growth in the tax base slows
– Fewer workers – particularly fewer experienced workers -- threat to productivity.and economic growth
o Departing Baby Boomers create leadership and skills gap
 Immigration a strong contributor to workforce growth
– Increased diversity
© 2012 SAP AG. All rights reserved. 5
Talent Follows Opportunity
© 2012 SAP AG. All rights reserved. 6
Relative Size of the Generations in Most Westernized
countries*
< 1946 < 1964 < 1976 < 1997 1997 – ?
0
10
20
30
40
50
60
70
80
90
Traditionalists
Baby Boomers
Generation X
Millennials
Gen 2020
???
* Example is US
© 2012 SAP AG. All rights reserved. 7
Not Surprisingly…Millennials Like Smaller Companies
47%
30%
23%
Concentration of Millennials/Size of Employer
Small (<100 employees) Midsize (101-1500 employees) Large (>1500 employees)
• Why?
 More opportunities to do
more/different things – to
determine preferences and
hone abilities
 Fewer layers  more direct
access to leadership,
greater opportunity for
mentorship
 More exposure, influence
on strategic decisions -
more likely to be “heard”
“Gen Y on the Job,” www.payscale.com, 2012.
© 2012 SAP AG. All rights reserved. 8
They lack organizational loyalty.
Millennials employees have about the same
degree of organizational commitment as other
age groups. The workforce has changed, not just
the people in it. Source: Harvey Schachter, “Five myths
about Millennial Workers”
Furthermore, organizations cannot guarantee
job security any more than employees can
guarantee they’ll stay.
Young people of every generation – including
when Boomers were the youngest people in the
workforce – change jobs more frequently than
older people because they’re learning what they
like and what they’re good at. Source: Jennifer J.
Deal, “Retiring the Generation Gap”
Who Are These Millennials? Dispelling the Myths
MYTH
TRUTHS
© 2012 SAP AG. All rights reserved. 9
They don’t respect authority.
• Traditionalists define respect as: “give my
opinions the weight I believe they deserve and
do what I tell you.” Millennials define respect
differently, as: “listen to me and take my
perspective into consideration.”
• Millennials crave coaching and mentorship. If
they didn’t respect their seniors leaders, they
wouldn’t be asking for so much of it. However,
they also want to be listened to not just told to do
something.
• Differences in respect with regard to the
generations is often appears to be something
bigger than it is; everyone wants to be listened
to and they want to know their opinions matter.
Another Myth
MYTH
TRUTHS
© 2012 SAP AG. All rights reserved. 10
They are only motivated by perks/money.
• What motivates people has more to do with
their personality than their age.
• Speaking to pay specifically, 27% of young
people think high pay is important compared
to 48% of older workers. Source: 27 Shift
• If any conclusion were to be drawn about
motivation and Millennials, it would be that
they prefer development over cash. In fact,
research shows that Millennials prefer
development three times more than a cash
bonus as a form of benefit. Source: 15th Annual Global
CEO Survey 2012.
One More Myth
MYTH
TRUTHS
© 2012 SAP AG. All rights reserved. 11
More Millennial Facts You Need to Know
Will comprise 75% of the Western
workforce by 2025, the largest
proportion in history. Most educated
workforce in
history.Tech-natives –
grew up with
access and
dependence on
technology.
Ethnically and
culturally diverse
due to more open
immigration
policies than in
previous
generations.
Most educated
female
demographic
in history.
The children
of Baby
Boomers, or
older Gen X.
© 2012 SAP AG. All rights reserved. 12
Embracing Technology to Optimize Your Workforce
Each retiring Baby Boomer subtracts ~40 years of workplace experience
How do you not only fill the gap but surpass your competitors?
Collaboration
 Deliver employee experiences that strengthen knowledge of and appreciation for the customer value
chain
Authenticity
 Values in action and transparency facilitated through social media/collaboration, open financial books, full
disclosure on pay
Personalization
 Nurture employee relationships that align with needs of every generation at each life stage
Innovation
 Offer innovative practices aligned to organizational strategy
Social connection
 Provide fun, engaging work environments (virtual or physical)
 Encourage use of social media tools/techniques that allow employees to enable workplace performance
and support life interests
© 2012 SAP AG. All rights reserved. 13
Why does Technology Matter? Your Workforce has Changed…
© 2012 SAP AG. All rights reserved. 14
…and is Using Apps Like These
© 2012 SAP AG. All rights reserved. 15
So Why Keep Technology that Looks Like This…
© 2012 SAP AG. All rights reserved. 16
…When You Can Have HR Technology that Doesn’t Look
or Act like HR Technology…
© 2012 SAP AG. All rights reserved. 17
…And is Available Wherever Your Employees Are, 24/7
© 2012 SAP AG. All rights reserved. 18
Business Execution Technology: GPS for Strategic HR
Putting knowledge in the hands of
decision makers to support real time decisions
Let’s take a look…
© 2012 SAP AG. All rights reserved. 19
Of Course…You Have to Know How to Use It Correctly
© 2012 SAP AG. All rights reserved. 20
Predictions for the 2020 Workplace
Your mobile device will become office, classroom, and concierge
• Work-life flexibility will replace work-life balance
The global talent shortage will be acute
• Recruiting will start on social networking sites
• You will be hired and promoted based upon your reputation capital
• Building a portfolio of contract jobs will be the path to full-time employment
Corporate social networks will flourish and grow inside companies
• Social media literacy will be required for all employees
• Leaders will learn to blog (to promote authenticity, transparency)
Lifelong learning will be a business requirement
• Development opportunities will be personalized and address generational
needs
The 2020Workplace: How Innovative Companies Attract, Develop and
Keep Tomorrow’s Employees Today by Jeanne C.Meister and Karie
Willyerd. Copyright © 2010 by Jeanne C. Meister and Karie Willyerd.
© 2012 SAP AG. All rights reserved. 21
Seven Actions You Can Take Today To Prepare
Ensure you – and your leadership - are fluent in the new language
of business
Conduct a workforce analysis risk assessment. Determine
what your workforce plan should be
Build a recruiting machine to reach candidates where they
live – online!
Develop clear learning and development strategy to
attract new employees and prepare existing for the future
Prepare your leaders for the new leadership competencies
required to lead in the future workplace
Use social technologies inside your secure environment to facilitate
communication, learning, and collaboration on leading edge platforms
Make your HCM systems app and mobile friendly
Ready or Not, The Workforce is Changing! Are You Prepared?

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Ready or Not, The Workforce is Changing! Are You Prepared?

  • 1. The Changing Nature of Work Capturing the Millennial Workforce and Enhancing Organizational Performance through Social Collaboration
  • 2. © 2012 SAP AG. All rights reserved. 2 Ready or Not, The Workforce is Changing! Globalization • Global access to markets and talent will reshape business – Talent Markets are Global Demographics • 5 generations will be working side by side in organizations Social Web • Social media will connect employees, customers & partners for immediate connection Equal and Simultaneous Forces are Shaping the Future of Work
  • 3. © 2012 SAP AG. All rights reserved. 3 Traditionalists • Born before 1946 • ~46M Baby Boomers • Born 1946-1964 • ~78M Gen X • Born 1965-1976 • ~50M Gen Y (Millennials) • Born 1977-1997 • ~88M Gen 2020 • Born 1998+ • ~41M Get to Know Your Workplace Generations Do you know the demographic breakdown of your workforce? How is this likely to change in 5 years? What about 10?
  • 4. © 2012 SAP AG. All rights reserved. 4 Demographics in Action: The Latest Numbers (U.S.) 2014: Millennials will comprise 36% of U.S. workforce  By 2020 Millennials will comprise nearly half (46%)  Gen X = 16% of workforce  Median age of workforce expected to increase to 42 in 2020 How this affects your business:  Workforce growing at a slower rate – Pension and health costs rise just as growth in the tax base slows – Fewer workers – particularly fewer experienced workers -- threat to productivity.and economic growth o Departing Baby Boomers create leadership and skills gap  Immigration a strong contributor to workforce growth – Increased diversity
  • 5. © 2012 SAP AG. All rights reserved. 5 Talent Follows Opportunity
  • 6. © 2012 SAP AG. All rights reserved. 6 Relative Size of the Generations in Most Westernized countries* < 1946 < 1964 < 1976 < 1997 1997 – ? 0 10 20 30 40 50 60 70 80 90 Traditionalists Baby Boomers Generation X Millennials Gen 2020 ??? * Example is US
  • 7. © 2012 SAP AG. All rights reserved. 7 Not Surprisingly…Millennials Like Smaller Companies 47% 30% 23% Concentration of Millennials/Size of Employer Small (<100 employees) Midsize (101-1500 employees) Large (>1500 employees) • Why?  More opportunities to do more/different things – to determine preferences and hone abilities  Fewer layers  more direct access to leadership, greater opportunity for mentorship  More exposure, influence on strategic decisions - more likely to be “heard” “Gen Y on the Job,” www.payscale.com, 2012.
  • 8. © 2012 SAP AG. All rights reserved. 8 They lack organizational loyalty. Millennials employees have about the same degree of organizational commitment as other age groups. The workforce has changed, not just the people in it. Source: Harvey Schachter, “Five myths about Millennial Workers” Furthermore, organizations cannot guarantee job security any more than employees can guarantee they’ll stay. Young people of every generation – including when Boomers were the youngest people in the workforce – change jobs more frequently than older people because they’re learning what they like and what they’re good at. Source: Jennifer J. Deal, “Retiring the Generation Gap” Who Are These Millennials? Dispelling the Myths MYTH TRUTHS
  • 9. © 2012 SAP AG. All rights reserved. 9 They don’t respect authority. • Traditionalists define respect as: “give my opinions the weight I believe they deserve and do what I tell you.” Millennials define respect differently, as: “listen to me and take my perspective into consideration.” • Millennials crave coaching and mentorship. If they didn’t respect their seniors leaders, they wouldn’t be asking for so much of it. However, they also want to be listened to not just told to do something. • Differences in respect with regard to the generations is often appears to be something bigger than it is; everyone wants to be listened to and they want to know their opinions matter. Another Myth MYTH TRUTHS
  • 10. © 2012 SAP AG. All rights reserved. 10 They are only motivated by perks/money. • What motivates people has more to do with their personality than their age. • Speaking to pay specifically, 27% of young people think high pay is important compared to 48% of older workers. Source: 27 Shift • If any conclusion were to be drawn about motivation and Millennials, it would be that they prefer development over cash. In fact, research shows that Millennials prefer development three times more than a cash bonus as a form of benefit. Source: 15th Annual Global CEO Survey 2012. One More Myth MYTH TRUTHS
  • 11. © 2012 SAP AG. All rights reserved. 11 More Millennial Facts You Need to Know Will comprise 75% of the Western workforce by 2025, the largest proportion in history. Most educated workforce in history.Tech-natives – grew up with access and dependence on technology. Ethnically and culturally diverse due to more open immigration policies than in previous generations. Most educated female demographic in history. The children of Baby Boomers, or older Gen X.
  • 12. © 2012 SAP AG. All rights reserved. 12 Embracing Technology to Optimize Your Workforce Each retiring Baby Boomer subtracts ~40 years of workplace experience How do you not only fill the gap but surpass your competitors? Collaboration  Deliver employee experiences that strengthen knowledge of and appreciation for the customer value chain Authenticity  Values in action and transparency facilitated through social media/collaboration, open financial books, full disclosure on pay Personalization  Nurture employee relationships that align with needs of every generation at each life stage Innovation  Offer innovative practices aligned to organizational strategy Social connection  Provide fun, engaging work environments (virtual or physical)  Encourage use of social media tools/techniques that allow employees to enable workplace performance and support life interests
  • 13. © 2012 SAP AG. All rights reserved. 13 Why does Technology Matter? Your Workforce has Changed…
  • 14. © 2012 SAP AG. All rights reserved. 14 …and is Using Apps Like These
  • 15. © 2012 SAP AG. All rights reserved. 15 So Why Keep Technology that Looks Like This…
  • 16. © 2012 SAP AG. All rights reserved. 16 …When You Can Have HR Technology that Doesn’t Look or Act like HR Technology…
  • 17. © 2012 SAP AG. All rights reserved. 17 …And is Available Wherever Your Employees Are, 24/7
  • 18. © 2012 SAP AG. All rights reserved. 18 Business Execution Technology: GPS for Strategic HR Putting knowledge in the hands of decision makers to support real time decisions Let’s take a look…
  • 19. © 2012 SAP AG. All rights reserved. 19 Of Course…You Have to Know How to Use It Correctly
  • 20. © 2012 SAP AG. All rights reserved. 20 Predictions for the 2020 Workplace Your mobile device will become office, classroom, and concierge • Work-life flexibility will replace work-life balance The global talent shortage will be acute • Recruiting will start on social networking sites • You will be hired and promoted based upon your reputation capital • Building a portfolio of contract jobs will be the path to full-time employment Corporate social networks will flourish and grow inside companies • Social media literacy will be required for all employees • Leaders will learn to blog (to promote authenticity, transparency) Lifelong learning will be a business requirement • Development opportunities will be personalized and address generational needs The 2020Workplace: How Innovative Companies Attract, Develop and Keep Tomorrow’s Employees Today by Jeanne C.Meister and Karie Willyerd. Copyright © 2010 by Jeanne C. Meister and Karie Willyerd.
  • 21. © 2012 SAP AG. All rights reserved. 21 Seven Actions You Can Take Today To Prepare Ensure you – and your leadership - are fluent in the new language of business Conduct a workforce analysis risk assessment. Determine what your workforce plan should be Build a recruiting machine to reach candidates where they live – online! Develop clear learning and development strategy to attract new employees and prepare existing for the future Prepare your leaders for the new leadership competencies required to lead in the future workplace Use social technologies inside your secure environment to facilitate communication, learning, and collaboration on leading edge platforms Make your HCM systems app and mobile friendly