AJO participated in the NYC Chapter Meeting of the CEO Trust earlier this month. This group of over 120 CEO members meets monthly in Midtown Manhattan.
“Our Workforce 2020 – Colliding Trends and a New Game” was the meeting topic, previously chosen by members. After introductions by Jeff Lynn (Vice President- Professional Services, Tribridge) and Pam Grosicki (VP, Marketing & Communications at A.J. O’Connor Associates) kicked off the evening with the “Future Work Challenge”. Participants were invited to test their knowledge on U.S. and global workforce trends.
![]()
Future of Work Challenge – Did You Know?
Future of Work Challenge – Did You Know?Forecasts suggest large shortfalls in the number of trained knowledge workers are expected over the next decade, as we shift globally to a “knowledge economy.” Workers are retiring later, working remotely and the workforce is becoming more racially and ethnically diverse than ever. Through the Future of Work Challenge, participants learned (or were reminded) that:
- By 2020, there will be five generations in the workforce. Employees who range in age from 16 to 70+ will be working side by side in many organizations. Millennials will be the largest group at this time, followed by Baby Boomers.
- The age 55+ cohort is the fastest growing demographic group in the workforce, made up of Baby Boomers in particular. One in four U.S. workers is projected to be 55+ by 2020, with women in particular fueling the growth of this demographic group.
- The fastest growing ethnic groups in the U.S. workforce today are Hispanic origin (34% growth between 2010 and 2020), followed by Asian origin (30% growth in the same time period). Almost one in four U.S. workers will be of Hispanic or Asian origin by 2020.
- Contingent workers make up 25-35% of the global workforce today and may reach 50% by 2020 according to staffing industry analysts.
- 75% of jobs will require a two or four year degree (or higher); or special postsecondary occupation certificates; or apprenticeships by 2020 as the global economy restructures towards knowledge-based services.
- Technology will continue to have a major impact on our lives with 50 billion devices predicted to be connected to the Internet by 2020 – more than 6 devices for each person on Earth according to Cisco. Robotics will begin to shape future work with increasing impact on jobs.
Not surprisingly, human capital is ranked as the number one global CEO challenge in 2013 (Conference Board). These structural workforce changes raise the question of how do leaders, attract, hire, train, and retain the very best team members and how do leaders provide productive and satisfying work environments for an increasingly heterogeneous work team? The panel of experts examined these questions and more.
![]()
Panel Discussion
Panel DiscussionThree guest speakers participated in the panel discussion, sharing information, ideas and best practices and drawing on their expertise and experience of working with individuals, teams and organizations.
- Andy O’Connor - President of A.J. O’Connor Associates Andy O’Connor shared insights on what organizations are doing to develop their future leaders, highlighting the critical competencies needed for leaders and workers. Andy also offered insights into how his own organization attracts and retains consultants through knowledge and information sharing events.
- Maureen McGurl - President of Sutton Place HR Consulting Group Maureen addressed the question of how best to take advantage of a multi-generational, multi-cultural workforce and get the best of all worlds from doing so. In response to an audience question, Maureen also shared perspectives on why it is so difficult to achieve greater diversity on Boards and her work with organizations who are trying to increase Board diversity.
- Doug Blitzer - Director, Talent Acquisition and Development at Tribridge Doug highlighted the key differentiating traits of Millennials and some innovative approaches his organization is adopting to attract and develop a generation that has grown up multi-tasking and communicating via technology.
Action Strategies for Individuals, Teams and Organizations
- When hiring Millennials, focus on character traits such as self drive and ability to learn. Experience shows that those traits drive the biggest success.
- Understand what’s important to Millennials as they embark on their careers and structure experiences that play to their strengths, as well as challenge their development needs. Develop custom onboarding programs and early career experiences that provide real learning while building competencies and foundational skills.
- Implement internship programs which provide very real experience and create a pipeline of qualified candidates.
- Culture and values are very important to Millennials. Be sure to promote the corporate culture in order to attract the best candidates.
- Communicate often with Millennials in order to coach and ensure they understand their direction.
- When the C- suite executive is developing strategy plans for the business- this is the perfect place to include Millennials- they love to have a voice at the table; they learn and they contribute.
- Encourage the development of mentoring and special interest community groups within organizations to foster individual growth, diversity of thought and shared cultural understanding/learning.
- Shadow management committee- create a sub group of high potentials who meet periodically with management committee and debate the issues and concerns of the company.
- Strengthen and develop leadership competencies required for success in an increasingly complex, diverse and rapidly changing world. Timeless leadership skills, such as emotional intelligence, conflict management/resolution and change readiness have become even more critical competencies for leaders and their teams today.
- Leaders are also encouraged to develop competencies in newer competencies such as learning agility, global mindset, 360 communication skills and digital proficiency.
- Consider one-on-one executive coaching of leaders and high potentials for targeted, accelerated development.
- Accelerate the development of newly appointed executives and newly formed teams through assimiliation/integration coaching.
When it comes to diversity, the business benefits have been clearly established. Chairman of Deloitte Touche Tohmatsu Ltd.’s global board put it this way,
“I have regular access to our top leaders, including the member firm CEO network. When I elevate the issue of diversity to the board, the discussion is much different than if it’s elevated through HR channels.”
“I have regular access to our top leaders, including the member firm CEO network. When I elevate the issue of diversity to the board, the discussion is much different than if it’s elevated through HR channels.”
Recommended Reading
Topics: