It is happening all around us.. It will continue to influence our own organizations and client base in the future.
The "it" is the continual generational shift in our society.
How will this generational shift influence the future of our businesses?
Generation Y (born 1978-1989) 21%
Generation X (born 1965-1977) 43%
Baby Boomers (born 1946-1964) 42%
Schwartzkopf Generation (born before 1946) 7%
Here is a thought for you: Xers are no longer the young people in the workplace---now 28 to 40 years of age!
Generation X and Y since 2005 have made up over 50% of the population. Over the next five years over 10 million Generation Yers will join the work-place. As soon as 2010, Generation Yers will out number Generation Xers. One thing for sure is that ttraditional work-place "norms" will continued to be challenged. Are you preparing your business for the shifts internally and externally?
While all this is going on we need to pay close attention to theBaby Boomers. Some Boomers are taking early-retirement whether they can afford it or not, and returning to the workforce in one capacity or another. Their needs and requirements are changing. How can we best prepare our businesses for this generational shift?
There are 5 million Americans over the age of 65 in the work-place. These workers collectively represent an incredible store of skill, knowledge, wisdom,relationships, and the last vestiges of the old fashioned work ethic. Xers will be needed to fill the "gap" for mid-level and senior-level leadership talent in organizations. How do we best transfer this knowledge and experience into our businesses before they exit? How do we best develop Xers for our future management positions?
High maintenance will lead to high performance fromGeneration Yers. They have high expectations for how they wish to be managed. They want to be recognized for who they are and what they are doing and compensated accordingly. They will lean on you to help them succeed. Have you taken the opportunity to learn of the expectations of GenY? Your future clients?
Please share your ideas and/or experiences... Heck, identify your generation!!
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