Demographic Composition of Workforce Changing
Essay by Ramapanthula Sarathchandra • April 10, 2016 • Coursework • 678 Words (3 Pages) • 1,093 Views
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
NOTES | YOUNG | MIDCAREER | MATURE |
Myth | Not motivated to learn | Knows enough already | Tech-phobic and slow |
Reality | Most vocal. Places demands to learn and grow | Wants to learn, yet sandwiched under pressure | Eager to learn tech |
Preferred format | Continuous opportunities, self directed | Extended period of education | Small groups, regular refreshers |
Role of technology | Multitask, always communicates & connected | Solves problems | Gathers and disseminates info |
Attention span | Visual, short span | Scan,classify and plan | Thinkers and focus on what they do |
interaction | Role play experiment, question | Peer-to-peer-discussion | Teach, learn and mentor |
long term goals | Be marketable, builds resume | Succeed at work, change career | Give back |
short term goal | Fun, acquire skills, increase visibility | Good grades, work life balance, network | Personal satisfaction, and maintain network |
demands | personalization | convenience | authority |
Benefits to employer | Rapidly get work done | Rekindled and vibrant workforce | Ready trainers, mentors and leaders |
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