Trends affecting the workforce

How Millennial Workforce Trends Are Affecting Business

Our dataset aims to bring specificity to the debate and to the options for action, by providing the perspective of Chief Human Resources Officers of leading employers who are among those at the frontline of the emerging trends and are key actors in implementing future workforce strategies. Many industry observers expect a substantial Trends affecting the workforce in the number of jobs in the Trends affecting the workforce sector due to demographic trends such a longevity and ageing populations in advanced economies.

To some extent, it is changes in employment opportunities that cause changes in marriage and family formation patterns and not the other way around. Accordingly, factors affecting jobs in the industry are influenced by those affecting all the others. One particular set of jobs affected by this, for example, are customer service roles, which will become obsolete due to mobile internet technology to monitor service quality online as a means of maintaining effective customer relationship management.

General Trend 2 — Need for General and Specialized On-the-Job Training Regardless s of educational background, almost all millennial employees place a high value on on-the-job-training. Strong employment growth in the Computer and Mathematical job family is driven by trends beyond technology, such as rapid urbanization in developing countries, as well as by disruptions that negatively affect the employment outlook in other job families, such as geopolitical volatility and privacy issues—as companies from virtually all industries seek to recruit specialists that can help them apply tools such as Big Data analytics and data visualization to better understand and cope with these issues.

Manufacturing and Production roles are also expected to see a further bottoming out but might have the worst behind them and still retain relatively good potential for upskilling, redeployment and productivity enhancement through technology rather than pure substitution.

Increases in the educational attainment of older workers, together with the increasing demand for skilled workers, may raise the share of older Trends affecting the workforce further by stimulating higher labor force participation rates.

This need for specific and general training is felt both by the employee and the employer. Third, demographic trends raising the percentage of older workers and potential workers have Trends affecting the workforce for individual, firm-based, and government training.

For example, women make up low numbers in the fast-growing STEM job families, pointing, on current trends, to a deteriorating gender gap over time; but also low numbers within job families such as Manufacturing and Production or Construction and Extraction, where expected job losses will disproportionately affect men.

The tenets of New Urbanism are 1 walkability, 2 connectivity, 3 mixed use and diversity, and 4 a strong emphasis on community, encouraging a traditional neighborhood structure with open spaces and community gathering areas, as well as the necessity for community life residential, retail, green space, commercial, etc.

By pairing less experienced employees with senior workers, the new employees will receive individual attention to achieve their best abilities. The number of earned BA degrees will remain constant over the next decade at about 1 million per year despite the rising demand for skilled workers and the increasing size of the labor force.

The tenets of New Urbanism are 1 walkability, 2 connectivity, 3 mixed use and diversity, and 4 a strong emphasis on community, encouraging a traditional neighborhood structure with open spaces and community gathering areas, as well as the necessity for community life residential, retail, green space, commercial, etc.

Regardless of where a company is on the millennial spectrum, the only thing that is certain is that we will have to undertake a new understanding of the next after-millennial generation …a. Consumer ethics and green consumption practices are likewise anticipated to impact negatively on traditional roles in the job family, though perhaps with an upside for employees with skills in accrediting and advising on eco-labelled products.

Similarly, the sharing economy may have the potential to radically transform the way work is organized and regulated in certain job families, with all the opportunities and challenges this entails; but where it is mentioned as a driver of change to employment, its effect is largely seen as benign in the next five years.

Our analysis reveals that upcoming disruptions to the employment landscape are going to be a lot more complex and multi-faceted than conveyed by a narrow focus only on automation, and that we must act within the current window offered by the varying speeds of technological transformations to prepare.

How Millennial Workforce Trends Are Affecting Business

The expanding share of Asians in the labor force will moderate this trend, since their educational attainment is higher than the rest of the workforce. It is possible to extrapolate from these values the estimated numbers of jobs created or lost in absolute terms worldwide. Interestingly, Office and Administrative roles will be among the hardest jobs to recruit for in absolute terms bypresumably partly due to the perceived unattractiveness of the field, if current employment projections come to pass, and the very different core skills requirements this field may have going forward.

This factor plus the increase in global unemployment due to global population growth and slow job creation over the period leaves no room for complacency.

Still, concern for the plight of this group causes many people to oppose raising the retirement age. Further unpacking these expectations according to the factors driving employment change makes clear the true scale of impending industry and occupational transformation.

F32 Individual Postdoctoral Fellows: One concern about the changing ethnicity is the potential impact on the educational structure of the workforce. In this same vein, solid job growth is expected for Architecture and Engineering roles, particularly in the Consumer, Information and Communication Technology and Mobility industries.

The decline in labor force participation with age is also highest among less-educated workers. Resource-efficiency is expected to be another key driving factor for this job family, at least in the case of construction, in the creation of new and improvement of existing housing stock, often using new construction techniques, materials and approaches.

Other sizeable job families, such as Business and Financial Operations, Sales and Related and Construction and Extraction have a largely flat global employment outlook over the — period. New and Emerging Roles Our research also explicitly asked respondents about new and emerging job categories and functions that they expect to become critically important to their industry by the yearand where within their global operations they would expect to locate such roles.

A mentorship program allows millennial employees to further their training by focusing on the areas in which they most need development while recognizing their strengths. Two further job families with mainly flat aggregate employment outlooks over the coming years are Business and Financial Operations and Management.

If all indications continue, Generation Z will be larger than either the baby-boomer or millennial generations, really giving us something to puzzle about.

A mentorship program not only offers an opportunity to strengthen multigenerational ties, but it also offers a collaborative atmosphere to complement formal training programs. Automation of checkout processes and smart inventory management through sensors and other applications of the Internet of Things are some of the factors expected to lead to a decrease in demand for traditional roles in the Sales and Related job family.

For example, Energy includes renewables and utilities in addition to oil and gas. The Mobility industry is anticipating significant growth in Transportation and Logistics roles, as it plays its traditional role of connecting countries and industries in the wake of increasing globalization as well as, increasingly, catering to travellers from rising middle classes in emerging markets.

Many graduates obtain a degree without proficiency in customer service, spreadsheet manipulation, or technical writing. Similarly, a potential field of employment growth around which our survey yielded only limited data points concerns the Personal Care and Service job family, since jobs in this field are not typically found on a large scale among large multinational employers.

Both of the latter are also expecting declining demand for Manufacturing and Production and Construction and Extraction roles such as Chemical Processing Plant Operators and Mining and Petroleum Extraction Workers, as both industries are facing headwinds over the coming years.

Resource-efficiency is expected to be another key driving factor for this job family, at least in the case of construction, in the creation of new and improvement of existing housing stock, often using new construction techniques, materials and approaches. New college graduates, whether liberal arts majors or STEM graduates, often arrive out of college knowing how to think, but needing guidance on the particular skills to successfully execute their job functions.Five Trends that Are Dramatically Changing Work and the Workplace By Joe Aki Ouye, Ph.D.

This paper identifies five trends that are dramatically changing work and workplaces. huge workforce together and, without a doubt, also with a mind. Sep 14,  · Strong employment growth in the Computer and Mathematical job family is driven by trends beyond technology, such as rapid urbanization in developing countries, as well as by disruptions that negatively affect the employment outlook in other job families, such as geopolitical volatility and privacy issues—as companies from.

How Millennial Workforce Trends Are Affecting Business Companies looking to hire millennials need to take into account their lifestyle and workplace preferences, while figuring out how to train them and integrate them into a multigenerational workforce.

Given population trends and trends in labor force participation rates, the U.S. workforce will continue to increase in size but at a considerably slower rate than in the past. During the s, the workforce grew percent annually, declining to percent growth in the s.

Future Trends Affecting the Physician-Scientist Workforce The Affordable Care Act The Patient Protection and Affordable Care Act (PPACA, or ACA), signed into law by President Barack Obama inwill have a significant impact on the delivery of health care services in the United States.

How Millennial Workforce Trends Are Affecting Business Companies looking to hire millennials need to take into account their lifestyle and workplace preferences, while figuring out how to train them and integrate them into a multigenerational workforce.

Download
Trends affecting the workforce
Rated 5/5 based on 85 review