Iâ€™m often asked to speak about the workforce of tomorrow â€“ what will future employees look like, how will they require us to change our approach to business, and what will they expect from their professional and personal lives.
You donâ€™t need a crystal ball to predict what the workforce of tomorrow will look like. Shifting global demographics, changing consumer habits, and the globalization of our business markets gives us a pretty good indicator of what the workforce will look like in 2020 and beyond:
- By 2030, 75% of the global workforce will be made up of Gen Y, Millenials.
- 20% more of todayâ€™s global workforce populations will have obtained a post-secondaryÂ accredited degree than the previous generation.Â Even greater numbers are expected to leverage OpenCourseware programs for free, such as Khan Academy or Appleâ€™s iTunesâ€™ U in the future.
- By 2050, more than 16% of the worldâ€™s population will be over 65 compared to 7% in 2000. As science continues to extend life-spans, workers will stay employed and active much longer.
In the U.S. workforce today:
- More than 50% of the workforce is female and over 51.4% of managerial and professional jobs are now held by females.
- 87% of the worldâ€™s population owns a cellular phone as we speak, and the trend is moving upward with smart wireless devices gaining faster traction than electricity and running water in some remote areas.
- 78% of consumers trust peer recommendations; only 14% trust advertisements.
- 72 hours of video are uploaded to YouTube every minute.
So what does this tell us about the workforce of the future?
- They are older and younger at the same time.
- They are mobile and connected.
- They are more educated but likely less skilled.
- They are more social but less trusting.
- They are both great content creators and content consumers.
- They are more diverse and yet share more global cultural norms.
Workers of tomorrow are not easily put in a box, type-cast, or classified. They will expect a lot more than previous generations from both their work and personal environments. Business leaders can simply prepare for change â€“ but those who embrace and utilize the coming changes can create a short-cut to a future of possibilities.
Over the next few weeks, Iâ€™ll take some time to share a birds-eye view of the changing workforce expectations that will have a major impact on how businesses function and do business in the future. These expectations range from new leadership models to shifting perspectives on engagement. Weâ€™ll take an in-depth look at each one. I look forward to your comments and feedback as we explore this topic in detail.