Session “The Future of Work: How to Yield Competitive Advantages from Workforce Changes”. Bill Fournet of The Persimmon Group.
First, a little generational history: Those born through 1945 value security and duty. The Boomers, those born through 1964, value teamwork and are driven. Generation X’rs, born through 1981, are self-reliant and performance driven while Millennial's, those born through 1993 are tenacious and optimistic, looking for meaning in their work. And, finally, what will be known as Generation Z’s – those born after 1994 are Fast Task Switchers, market savvy and value authenticity and purpose in their work. They were the first with cellphones, smartphones, digitally wired and constantly engaged with social networks.
Sadly, 70% of employees say they’re disengaged from their job and 75% would entertain the opportunity to change their current job. While the average employment retention is currently 4.6 years, those aged 20-34 are only staying in one place 2.3 years. They may look like Job Hoppers but they’re experimenting – in some cases holding 4-5 jobs simultaneously looking for experience and exposure to a variety of opportunities.
Part-time employees are growing at 4.5 times the average. Freelance websites, virtual assistants and online swarming techniques are on the rise. When a company has a specific need, whether it be for a new logo design, a small conference or user meeting scheduled or presentation editing, why not put it out there in the cloud and pick from the best of the best globally? This allows for Hyper-specialization – those people who are gurus in a niche and can offer a piece of a puzzle. Project Managers will become Aggregatizers – breaking up large projects into those specialized parts, recruiting and managing the members of short-term global teams, providing methods for Quality Assurance and putting the entire picture/project back together again.
With a huge wealth of free online education available, learning new skills for specific tasks has become easier. If companies don’t offer their employees opportunities for lateral movement, interesting assignments and a way to fit employees into a values-based culture, they’ll move on.
Lisa is a Senior Consultant for the Sage HRMS product line here at CS3 Technology.