Demographic Composition of Workforce Changing

Demographic composition of workforce changing:

• Gender:  women to men ratio.
• Ethnicity: minorities, immigrants, locals, baby boomers, Mature, Gen-X
• Education: population rate and number of graduates.
• Family: sandwiched between generations and playing multiple roles.
• Aspiration:

• Young workers with education, work, re-creation running parallel
• Middle Aged making radical career change
• Older worker sitting on the board, consulting, or doing community works

• Wealth: 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 workforce
• More Women: its on a rise
• Diversity: 1/3rd of workforce globally is consisting minorities and immigrants
• Life-style and life-stage variety: Its about “pursuit of happiness”
• Shortage of skills/experience/expertise Drain of skilled employees
• Training and development: whom to train on what
• Tension 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 generation

Traversed 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 useful

What 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, career

Crises hit: victims of change and restructuring, Divorces, stagnation, relocation

Born to be wild: embrace the vision, mission and ambition- of company.

Ambitious, idealistic, self reliant, competitive, urban yuppie, prove worthy

Good at concepts and basics and apply’s it to both life and work place

Personal Matters:

Pressure and priorities

Attitude 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 job

Post 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-colloborate

Needs feed back, frequent and constructive

Accessible managers, open communication, pay for performance, flexible schedules and ample time off

Growing up digital: they are rule morphers: apply rules when convenient, ignore when necessary

Info rich, accustomed to instant communication and long distant collaboration

Short term loyal

Personal matters:

Overwhelmed responsibilities,  relationship troubles

Attitude towards work:

Quick learners, adaptable, creative and independent thinkers, Seeks fast promotion, What’s to be part of the change in the organization