This course was created by Pete Mockaitis of How to Be Awesome at Your Job. We are pleased to offer this training in our library.
Skill Level Beginner
- [Pete] And so your company has done a number of interesting studies, long-term, over many years. - [Bruce] Yeah, we started doing this research in 1993. I was a young, unhappy lawyer at the time, and I began interviewing young people, people my age about their experiences in the workplace. And those first interviews turned into my first book, which was "Managing Generation X," which finally came out in 1995. And we've been continuing the research ever since. So now, more than a half million people have participated in our longitudinal interviews, and from 400 different organizations, and 10s of thousands of those interviews lasted 10 years or longer. So we've been tracking these issues, generational change in the workplace, human capital management, and leadership and management best practices, we've been tracking these issues since 1993. - [Pete] Well I'd love it if you could share sort of a key insight that has high applicability from some of these studies. - [Bruce] Well, our generational shift research is where we're tracking generational change in the workplace. And of course, demographers have been talking about this great generational shift that's going to happen for a long time. Now it's actually happening. The age bubble on one end of the spectrum is growing as the baby boomers continue to age, every single day in North America alone, eight to 10,000 baby boomers turn 65, and they're filling up the age bubble on one end of the spectrum. On the other end of the spectrum, the fastest growing segment of the workforce is made up of those born 1990 and later. By 2020, those born 1990 and later will be 28% of the workforce. And by 2020, the baby boomers will be well under 20% of the workforce. So this has implications for staffing strategy, attraction, selection, on-boarding, up to speed training, performance management, rewards, incentives, retention, knowledge transfer, succession planning, leadership development, all of these issues are affected by the shift in the demographics. And of course, it's not just numbers that they're changing, but also the mindset of the workforce is changing. Everyone's talking about the millennials, especially the second wave millennials, the youngest, least experienced people in the workplace, those born 1990 and later. And what our research shows is that they are the canaries in the coal mine. The young, emerging workforce, they think short term and transactional, they want to know, "What do you want from me "today, tomorrow, and this week? "What do you have to offer me today, "tomorrow and this week?" They do not want everything on a silver platter, that's a lie, or a misunderstanding. They don't want to be humored at work, that's nonsense. They want to be taken seriously, and they want to know, "What do I need to do "every day to earn the rewards "and flexibility that I need?" And so I think that's where we're all headed. What we learned from our generational shift research is as the numbers shift, we're all headed in that same direction. People of all ages, we're all millennials now.