In board rooms and war rooms and think tanks and strategy committees all across the nation in both small and big business, there is a dangerous assumption being made. The assumption is that the higher unemployment rate is lessoning the demands of today’s applicant pool. The reality is much different! And if hiring managers think that they’re going to have the pick-of-the-crop when their budgets allow them to start the hiring barrage we all look so forward too… As the great Rob Halford sings…"You've got another thing coming!"
It’s true that Baby Boomers still have the lion’s share of the management job market and still drive the majority of the executive level gigs in the corporate arena but their numbers are dwindling - fast. For the first time in a generation Baby Boomers don’t make up the majority of the overall job population. Retirement and death are attributed to the decline of the most prolific workforce in American history. But most managers are conducting business as usual and are likely to get a huge wakeup call the next time they check the resumes flooding their desks. Here’s the new paradigm for all of you managers that have been put in the hiring hot seat: If you combine the total number of the working-age candidates in Generation X and Y; it would trump the Baby Boomer workforce by more than 24 million. That’s about 103 million compared to 77 million… OMG! – yep... OMG is right!
If you’re not a parent of a 20something or a mid-teener you may not know this. But here is a list of the four most important trends in recruiting and hiring in the new-economy and in the new generational working world. If you haven’t read "Why Recruiting Good People Will Get Harder and Harder”, by Kevin Wheeler, go pick it up – it could save you a mint.
Baby Boomers (born 1946-1964) are obviously very traditional – we say “traditional” because the Baby Boomers have created the working model of traditionalism for the past 40 years. They get in a car to go to an office or factory or plant and they like that way. They are much more comfortable sitting in a cube next to someone that they have to work with on a daily basis. And for the most part; they define themselves, their social identity and their hierarchical status by their work.
Generation X (born 1965-1979) still identifies their working environment as “a place to go” or a destination where they must attend to complete tasks. But it was the X’ers who created the Virtual work place. Truly they have used the internet and communications technology to their advantage. So the trend that’s creeping quickly is a healthy openness to work exclusively from home or in virtual teams. When evaluating promotions, firm switches, new roles or new titles; their career choices often are made by considering which one can give them more flexibility for them and their family.
Generation Y (born 1982-1995), Welcome to the OMG generation. Some experts will tell you that Y’ers just simply do not want to work (in the traditional sense). For them, work is just a sea of hierarchy, bureaucracy and policies. Work is not who they are and they don’t understand working in a building, sitting in a cube or even an office. And work isn’t even something you do for very long in one place or for one company. Y’ers crave flexibility and virtual workspaces and even multiple jobs! According to Wheeler, “they are the hardest to recruit and the hardest to retain. Yet, they are the future of most organizations as Baby Boomers age and move out.”
A 3rd trend, according to Wheeler, is flexible work arrangements. Working 9 to 5 went out with Dolly Parton. And even as regulations increase, to track and report on hours worked; punching in and out is becoming difficult to manage. You can rest assured that compensation for almost any industry is eventually moving toward a pay-for-performance system. The question being asked by the growing work force sounds something like this… Does it really matter if an employee works from 4AM to 7AM and then mountain bikes from 8AM to 4PM and then finishes their assignments and duties from 6PM to 10PM? As long as deadlines are met – accuracy of the work is on point and communication is timely. The lines of work time / family time / play time are beginning to fade together. So Mr. and Mrs. Hiring manager; Are you scared or can you adapt?!?!
The 4th trend that produces a major hurdle for traditional recruiting is the challenge of an applicant that has another job or multiple jobs. “Organizations still expect and seek loyalty,” says Wheeler, “even though they have shown their employees little of that when times get tough.” Whatever the reasons are; X’ers and Y’ers are more likely to have 2 or more jobs. Often times it’s simply a need for cash still others are looking for diversity or haven’t yet defined their career. Others are trying to become entrepreneurs (before and after hours), while clutching to the safety net of a consistent paycheck. Is your collar getting a little tighter? Well welcome to the future.
As a hiring manager, company owner or department head, there really isn’t anything you can change to prevent these trends from happening, they are here already. You simply have to think about the new Generation’s ideas as substantial in your recruiting, hiring and work assignment practices. Trying to convince a recent graduate with honors from the University that they must show up from 8 – 5 with an hour for lunch, will be an easy way from them to post “C ya” to your Facebook page. They are going to expect flexible hours, flexible arrangements and options – lots of options. They may even communicate with their supervisors through txting or OMG! Twitter!
So if you’re scared - don’t be. Every other American company is faced with the same new challenges in their recruiting game as well. The new generation will likely follow with their own ideas on the work place and what it really means to their life style. So decide now to lead the charge with new innovative ways to reach and attract these radical new X’ers and Y’ers; like it or not Boomers will be gone in completely in 15 years. And this crazy flexible workplace that seems so unique will be the new “Traditional” way to work.
Fairways and Greens,
Team Lotus.
