winning the war for talent - 09-26-19 - handout...john martin – winning the war for talent psu...

John Martin – Winning the War for TalentPSU ISBM Members Meeting

September 2019

© SIR’s Institute for Tomorrow. All Rights Reserved. 1

John W. Martin

WINNING THE WAR FOR

TALENT

SIR is a 55-year-old STRATEGIC CONSULTANCY.

WHO WE ARE

4

1

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September 2019


4

Understanding TODAYPRIMARY RESEARCH

+ Understanding TOMORROW

TRENDS RESEARCH

Strategy. Insights. Results.

EQUIP LEADERS TODAY

TO WIN TOMORROW

What It Will Take To Win The War

Winning The War For Workers

A New Lens On Understanding Talent3

2

1 Why Are We Fighting For Talent?

4

5

10 Traits of Winning Workplaces

Group Discussion

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September 2019





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4

5


Group Discussion

TALENT IS THE GATING FACTOR FOR SUCCESS

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September 2019


U.S. UNEMPLOYMENT RATE

2014 2016 20184%

5%

6%

7%

8%

9%

5.0% is considered “Full Employment”

Source: BLS

WHY AREN’T THERE ENOUGH WORKERS?

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September 2019


POPULATION SHIFT

1

U.S POPULATION

330Million

Source: U. S. Census Reports

2020

359Million

2030

379Million

2040

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September 2019


We are slowing down!

AGE SHIFT

2

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September 2019


79

55

Longevity Revolution

2.0

3.7

2.2

Source: Population Reference Bureau. http://www.prb.org/publications/datasheets/2012/world-population-data-sheet/fact-sheet-us-population.aspx

Baby boom

Great Recession1970s energy

crisis

Shifting birth ratesTotal fertility rate

Today

2.1

2019

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September 2019


1946–1964 1965–1981 1982–2001

30,000,000

70,000,00075,000,000 80,000,000

Silent Boomer Gen X Millennial Gen Z

2001–2016

60,000,000

Five generations alive today

1929–1945

The Population Age Pyramid

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16


September 2019


Source: U.S. Census Bureau


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September 2019


1960 vs. 2030


FEWERFEWER MOREMORE

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September 2019


WORKER SHIFT

3

24.0 24.0

81.3 79.0

43.7 56.2

2006 2016

COMING OFF A DECADE OF DECLINE IN 16-54 WORKERSLabor Participation (in millions)

149.0159.2

Source: SIR Analysis of Bureau of Labor Statistics Dec 2017 Labor Force Projections: https://www.bls.gov/opub/mlr/2017/article/projections-overview-and-highlights-2016-26.htm

% Change:

+6.8%

+28.6%

-2.8%105.3 103.0

25-54

16-24

-2.2%

0.0%

55+

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September 2019


24.0 23.1

79.0 80.4

56.266.2

2016 2026

PROJECTIONS TO 2026 SHOW LITTLE CHANGES AHEADLabor Participation (in millions)

159.2166.7

Source: SIR Analysis of Bureau of Labor Statistics Dec 2017 Labor Force Projections: https://www.bls.gov/opub/mlr/2017/article/projections-overview-and-highlights-2016-26.htm

% Change:

+4.7%

+17.8%

+1.2%103.0 103.5

55+

16-24

+0.4%

-3.8%

25-54

ABUNDANCE

OLDER ADULTS

SHORTAGE

YOUNGER ADULTS

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September 2019


By 2030, the total U.S. population

will expand by 9%

The U.S. working-age population

will only grow less than 5%

Source: US Census Bureau

WORKPLACESHIFT

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25

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September 2019


The GIG Economy by the numbers

55 80

34% 1of3

million millionUS workers are 1099

projected by 2020

of the workforce has a second job

Millennials freelance

https://www.upwork.com/i/freelancing-in-america/2016/

Work no longer TIED TO PLACE

50%By 2030 – Percent of U.S. Workforce Will Be

Distributed

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September 2019


What Does This All Mean?

Shortage of US workers Over Next 10 Years

Source: Fundstrat Global Advisors

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September 2019


Companies are now preparing for

this future

Cities are now preparing for this future:

Buying Residents or Improving Place To Attract Them

SIR Institute for Tomorrow

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September 2019


For your company to attract the BEST TALENT,

you will have to be a MORE ATTRACTIVE PLACE

than other companies.




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4

5


Group Discussion

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September 2019


MILLENNIALS are shaping

CULTURE & SOCIETY

16 34

MILLENNIALS Median age:

25

20 30 50 70

IT’S BECOMING THEIR WORLD NOW…

10 40 60 80

35 52

GEN XMedian age:

44

53 71

84,000,00074,000,000 74,000,000

TODAY:

21 65

US Census

BOOMERSMedian age:

62

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September 2019


24 42

MILLENNIALS Median age:

33

20 30 50 70

THEY WILL DOMINATE IN 2025…

10 40 60 80

43 60

GEN XMedian age:

52

61 79

87,000,000

69,000,000 70,000,0002025:

21 65

US Census

BOOMERSMedian age:

70

THE CHANGING WORKPLACE

Gen XMillennials

Boomers

15%

46%30%

Gen Z

9%

Gen X

MillennialsBoomers

32%32%

33%

Silent<2%

Workforce Ages 20-74. Source: Bureau of Labor Statistics , WSJ. http://on.wsj.com/1tv0n1O

TODAY: 2025:

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September 2019


MILLENNIALS BRING THEIR

VIEW OF A MODERN CULTURE

INTO THE WORK PLACE EVERYDAY

Workers of all ages want a WORK CULTURE

aligned with MODERN CULTURE

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September 2019


IS YOUR WORK CULTURE

WITHMODERN CULTURE

ALIGNED




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4

5


Group Discussion

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September 2019


Generational Mindsets:

OUTLOOK

WORK ETHIC

VIEW OF MONEY

VIEW OF LEADERSHIP

MEDIUM

Optimistic

Driven

Spenders

Pay your dues

Work is Life

TV

Self-centered

Skeptical

Free Agent

Debtors

Competence

Work to Live

Computer

Self-reliant

Confident

Goals

Savers

Egalitarian

Integrated

Mobile

Collective SelfORIENTATION

BOOMERS GEN X MILLENNIALS

WORK/LIFE BALANCE

© 2017 SIR’s Institute for TomorrowSM. All rights reserved.

Americans come in all shapes and sizes, races and religions, education levels and income brackets. Each of those attributes has an influence on how people view the world. But the most profound indicators are generational.

Members of the same generation, by definition, have shared many of the same formative experiences that set them apart from other generations. Did they live through times of war, or times of peace? Did they come of age in an era of prosperity and rising expectations, or a period of economic turmoil and broken dreams? Were their families large or small? Were the heads of most households a mom and dad, or did most have some combination?

Did the dominant media in a generation’s childhood consist of network television, Cable TV, or YouTube and Facebook? Did their cultural icons include the Rolling Stones, grunge, hip hop, or Grace Vanderwaal?

While coming-of-age experiences make each generation distinct, so does a generation’s stage in its life cycle. Since the dawn of time, every generation has traveled the same path of youth, young adult, midlife and old age. Each stage is associated with predictable priorities. Youths are concerned about establishing themselves in the world. At midlife, they reach the peak of their earning power and status. Old age brings less interest in material items.

The interaction of generational and lifecycle influences is complex — and the story for a given generation won’t be fully written until the last member leaves. This primer gives you a starting point for better understanding Boomers, Gen Xers, Millennials and the next generation on the horizon, the yet unnamed Generation “Z.”

Protective

Self-taught

Frugal

Pluralistic

TBD

VR?

Self-aware

GENERATION “Z”

Generational Mindsets:

OUTLOOK

WORK ETHIC

VIEW OF MONEY

VIEW OF LEADERSHIP

MEDIUM

Optimistic

Driven

Spenders

Pay your dues

Work is Life

TV

Self-centered

Skeptical

Free Agent

Debtors

Competence

Work to Live

Computer

Self-reliant

Confident

Goals

Savers

Egalitarian

Integrated

Mobile

Collective SelfORIENTATION

BOOMERS GEN X MILLENNIALS

WORK/LIFE BALANCE

© 2017 SIR’s Institute for TomorrowSM. All rights reserved.

Americans come in all shapes and sizes, races and religions, education levels and income brackets. Each of those attributes has an influence on how people view the world. But the most profound indicators are generational.

Members of the same generation, by definition, have shared many of the same formative experiences that set them apart from other generations. Did they live through times of war, or times of peace? Did they come of age in an era of prosperity and rising expectations, or a period of economic turmoil and broken dreams? Were their families large or small? Were the heads of most households a mom and dad, or did most have some combination?

Did the dominant media in a generation’s childhood consist of network television, Cable TV, or YouTube and Facebook? Did their cultural icons include the Rolling Stones, grunge, hip hop, or Grace Vanderwaal?

While coming-of-age experiences make each generation distinct, so does a generation’s stage in its life cycle. Since the dawn of time, every generation has traveled the same path of youth, young adult, midlife and old age. Each stage is associated with predictable priorities. Youths are concerned about establishing themselves in the world. At midlife, they reach the peak of their earning power and status. Old age brings less interest in material items.

The interaction of generational and lifecycle influences is complex — and the story for a given generation won’t be fully written until the last member leaves. This primer gives you a starting point for better understanding Boomers, Gen Xers, Millennials and the next generation on the horizon, the yet unnamed Generation “Z.”

Protective

Self-taught

Frugal

Pluralistic

TBD

VR?

Self-aware

GENERATION “Z”

WHYIS EACH

GENERATIONUNIQUE?

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September 2019


THREE INTER-RELATED FACTORS:

AGE: “With age comes wisdom”

PERIOD: “It’s different today”

COHORT: “The generation gap”

1

2

3

Age: Birth-25 25-50 50-75 75+

SPRING SUMMER AUTUMN WINTER

YOUTH YOUNG ADULT MIDLIFE OLD AGE

1. YOUR AGE AFFECTS YOUR VIEWS

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September 2019


Age: Birth-25 25-50 50-75 75+

MILLENNIALS GEN XERS BOOMERS SILENT

YOUTH YOUNG ADULT MIDLIFE OLD AGE

1. YOUR AGE AFFECTS YOUR VIEWS

1970’s TODAY

Available everywhere instantlyBroadcast live daily at 6:30pm

2. TIME PERIOD AFFECTS YOUR VIEWS

The News:

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September 2019


1960 1970 1980 1990 2000 2010 TODAY

TIME & TECHNOLOGY CHANGED PREFERENCES, NOT AGE

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September 2019


3. GENERATIONAL COHORT AFFECTS VIEWS

NOT “WHO YOU ARE,” BUT…

WHAT “IMPRINTED” YOU WHEN YOU CAME OF AGE

GENERATIONAL VALUES

DEFINING EVENTS

WHO WE ARE

CULTURE’S IMPACT

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September 2019


BOOMERS1946-64

55 to 73 years old

54

SILENT BOOMER GEN X MILLENNIAL GEN “Z”

Late 1920s to mid ‘40s Late ‘50s to mid ‘70s Late ‘70s to mid ‘90s Late ‘90s to mid 2010s Now to mid ‘30s

GENERATION and FORMATIVE “WONDER YEARS”:

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September 2019


INFLUENCES THAT DEFINE BOOMERS

WOMEN’S LIB SPACE RACE CIVIL RIGHTS

BIRTH OF TV VIETNAM WAR GROWTH OF SUBURBIAROCK ’N ROLL

GENERATIONAL VALUES:

ARCHTYPE:

BOOMERS:

Personal GratificationEntitlementControlWork EthicNo to Status QuoOptimism

DrivenTransformational

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September 2019


GEN X1965-82

37-54

58




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September 2019


INFLUENCES THAT DEFINE GEN X

CABLE TV PCs and MACs END OF COLD WAR

SINGLE PARENTS LATCHKEY KIDS CHALLENGER DISASTER

REAGAN


ARCHTYPE:

GENERATION X:

TechnosavvyThink GloballySelf-relianceDiversityPragmatic

SkepticalIndependentTask-driven

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September 2019


MILLENNIALS1983-2001

18-36

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September 2019


INFLUENCES THAT DEFINE MILLENNIALS

COLUMBINE DIVERSITYTECH++

PARENTINGCLINTON/BUSH9/11

SOCIAL MEDIA

WARSRECESSION


ARCHTYPE:

MILLENNIALS:

Confidence plusCivic dutyAchievementHyper connectedMulti-tasking Fearless

Co-dependentPurposefulAmbitious

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September 2019


HOW THEY WERE RAISED

HOW THEY ARE WIRED

1 2

GENERATION “Z”

2002-2020?Born today to 17

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September 2019


ONDEMANDEVERYTHING

INFLUENCES THAT ARE DEFINING GEN Z

GENDER? ISIS THREATSOCIAL UNREST

DRIVERLESSROUTINE TERRORMODERN FAMILIES

SELF-LEARN

TRUMP CONTROL


ARCHTYPE:

GEN Z (also known as “Kids”):

Safety and securityFrugal and savvySelf-educateCo-createInclusive

PluralisticResourcefulPragmatic

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September 2019





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Group Discussion

WINNING WORKPLACESOF TODAY

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September 2019


10 KEY TRAITS OF WINNING WORKPLACES

1. PURPOSEFUL

2. STORY-ORIENTED

3. DIVERSE & INCLUSIVE

4. AGE & GENDER-NEUTRAL

5. COLLABORATIVE

6. CREATIVE

7. FLEXIBLE

8. OPEN & TRANSPARENT

9. LEARNING & SUPPORTIVE

10. SAFE & TRUSTWORTHY

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September 2019


PURPOSEFUL

1

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September 2019


Winning workplaces of today realize their workers want to make a

difference. They promote their:

PURPOSE

INSIGHT

STORY-ORIENTED

2

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September 2019


Winning workplaces of today enable workers to

KNOW, CULTIVATE, TEACH, AND SHARE

THEIR STORY

INSIGHT

DIVERSE & INCLUSIVE

3

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September 2019


Winning workplaces of today Know how to show their

DIVERSITY

INSIGHT

Winning workplaces of today know how to

INCLUDEEVERYONE

INSIGHT

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September 2019


Winning workplaces of today view DE&I as a

STRATEGIC ADVANTAGE

INSIGHT

AGE & GENDER-NEUTRAL

4

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September 2019


Winning workplaces of todayaccommodate an

AGELESS WORKFORCE

INSIGHT

Winning workplaces of today build in

GENERATIONAL TRAINING

INSIGHT

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September 2019


Winning workplaces oftoday strive for a

GENDER-NEUTRAL LEADERSHIP & WORKFORCE

INSIGHT

COLLABORATIVE

5

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September 2019


Winning workplaces of todayare hyper-collaborative

DEMOCRACIES

INSIGHT

Winning workplaces of todaywalk the walk, build in

TEAMWORKas an expectation

(a shared value) and provide COLLABORATION TOOLS

INSIGHT

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September 2019


CREATIVE

6

Winning workplaces of today cultivate everyone’s

CREATIVE & ENTREPRENEURIAL

SPIRIT

INSIGHT

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September 2019


FLEXIBLE

7

Winning workplaces of today understand

LIFE & WORK ARE INTEGRATED

INSIGHT

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September 2019


Winning workplaces of today ADJUST EXPECTATIONS

to fit different people and have CUSTOMIZED POLICIES

INSIGHT

OPEN & TRANSPARENT

8

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September 2019


Winning workplaces of today realize they must be

OPEN & TRANSPARENT

INSIGHT

Winning workplaces of today realize they must be

ACCEPTING

INSIGHT

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September 2019


LEARNING & SUPPORTIVE

9

Winning workplaces of today operate work environments that are

LEARNING & SUPPORTIVE

INSIGHT

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September 2019


SAFE &TRUSTWORTHY

10

Winning workplaces of today are

SAFE PLACE & TRUSTWORTHY

INSIGHT

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September 2019



1. PURPOSEFUL

2. STORY-ORIENTED



5. COLLABORATIVE

6. CREATIVE

7. FLEXIBLE





1. PURPOSEFUL

2. STORY-ORIENTED



5. COLLABORATIVE

6. CREATIVE

7. FLEXIBLE




The Ultimate Goal?

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September 2019


MANYGENERATIONS

ONETEAM

Changing work culture requires you toCHANGE RULES

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September 2019


Organized for efficiency and effectiveness

Organized for learning, inno-vation, and customer impact

OLD RULE NEW RULE

Cogs in the Machine

Talent to be Managed

CHANGING THE RULES

Company viewed as hierarchy, with hierarchical decision rights, structure,

and leadership path

Company viewed as an agile network, empowered by team

leaders and fueled by collaboration and knowledge-sharing

OLD RULE NEW RULE

Organizational Chart

Collaborative Hive

CHANGING THE RULES

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September 2019


People “become leaders” through

promotion

People “create followers” to grow in influence and

authority

OLD RULE NEW RULE

Bestowed

Earned

CHANGING THE RULES

Culture rules by fear of failure and perceptions

of others

Culture of safety, abundance, and importance of risk-taking and innovation

OLD RULE NEW RULE

Avoiding Negatives

Seeking Positives

CHANGING THE RULES

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September 2019





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John W. Martin

WINNING THE WAR FORWORKERS

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winning the war for talent - 09-26-19 - handout...john martin – winning the war for talent psu...

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