Demographic Composition of Workforce Changing
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Demographic composition of workforce changing:Gender:  women to men ratio.Ethnicity: minorities, immigrants, locals, baby boomers, Mature, Gen-XEducation: population rate and number of graduates.Family: sandwiched between generations and playing multiple roles.Aspiration: Young workers with education, work, re-creation running parallelMiddle Aged making radical career changeOlder worker sitting on the board, consulting, or doing community worksWealth: retirement is not an option to make ends meet to support lavish lifestyle.Loyalty: savviest comparison shop-the internet, career opportunism and company loyalty varies.Challenges in Demographic diversity:Productivity and business growth: employees dissatisfied, quitting jobs?Work Process: collaborate-capitalize diversity? team structure?Learning Process: capturing institutional knowledge? Re-engage,re-train, re-ignite minds?Continuity:  identity travel? Change management?Competitiveness: responding to global customers with top talents?Check list of trends to count on:Aging:  it’s a multigenerational workforceMore Women: its on a riseDiversity: 1/3rd of workforce globally is consisting minorities and immigrantsLife-style and life-stage variety: Its about “pursuit of happiness”Shortage of skills/experience/expertise Drain of skilled employeesTraining and development: whom to train on whatTension around HR policies/Practices:  is it appealing to the new workforce? Is it accommodating?The three cohorts and How to leverage:The mature worker:Born to the greatest generationTraversed trough WW’s, Depression and of all the youngest.Are less ambitious, yet are highly reliable, hard working, confident, optimistic, sociable, open to new ideas.High on internet usage.Strength include emotional maturity, experience and loyalty.Personal Matters: report fewer family issues.Attitude towards work: take pride and are highly satisfied & engaged with their job.Post job: want to do part time job atleast to be mentally and physically active, being productive and usefulWhat they want:Comprehensive retirement package 16%Comprehensive benefits package 14%Work to learn and grow: 13%Stimulating and enjoyable: 23%Flexible workplace/schedule: 14%Societal cause: 10%Rest 10%Frustrated Mid career worker:Pressure on the bottleneck: Sandwiched between family, parents, job, careerCrises hit: victims of change and restructuring, Divorces, stagnation, relocationBorn to be wild: embrace the vision, mission and ambition- of company.
Ambitious, idealistic, self reliant, competitive, urban yuppie, prove worthyGood at concepts and basics and apply’s it to both life and work placePersonal Matters: Pressure and prioritiesAttitude towards work:  works longer time, 1/3rd are dissatisfied with job, managers, disagree with management’s policies, half of them are not convinced to buy what management says, half of them want job/work/location change, feel dead ended in current jobPost Job: don’t save much to retire,What they expect:Benefits: 19%Retirement package: 16%Work enables t learn: 11%Enjoyable and stimulating20%Flexible workplace/schedule:14%Paid vacation 6%Other 14%The best of the young keep leaving:Individual responsibility, sociable and enjoyable workplace, opportunities to learn-grow-colloborateNeeds feed back, frequent and constructiveAccessible managers, open communication, pay for performance, flexible schedules and ample time offGrowing up digital: they are rule morphers: apply rules when convenient, ignore when necessaryInfo rich, accustomed to instant communication and long distant collaborationShort term loyalPersonal matters:Overwhelmed responsibilities,  relationship troublesAttitude towards work:Quick learners, adaptable, creative and independent thinkers, Seeks fast promotion, What’s to be part of the change in the organizationNOTESYOUNGMIDCAREERMATUREMythNot motivated to learnKnows enough alreadyTech-phobic and slowRealityMost vocal. Places demands to learn and growWants to learn, yet sandwiched under pressureEager to learn techPreferred formatContinuous opportunities, self directedExtended period of educationSmall groups, regular refreshersRole of technologyMultitask, always communicates & connectedSolves problemsGathers and disseminates infoAttention spanVisual, short spanScan,classify and planThinkers and focus on what they dointeractionRole play experiment, questionPeer-to-peer-discussionTeach, learn and mentorlong term goalsBe marketable, builds resumeSucceed at work, change careerGive backshort term goalFun, acquire skills, increase visibilityGood grades, work life balance, networkPersonal satisfaction, and maintain networkdemandspersonalizationconvenienceauthorityBenefits to employerRapidly get work doneRekindled and vibrant workforceReady trainers, mentors and leaders