The Multigenerational Workforce: Lessons

advertisement
The Multi-Generational Workforce:
Lessons Learned from Sloan Center Research
Jacquelyn James, Ph.D.
Boston College Center on Aging & Work
September 20, 2013
With Marcie Pitt-Catsouphes and Christina Matz-Costa
Lesson 1: Projected Changes in the U.S.
Labor Force
2010-2020 by Age Groups
Toossi, M. (2012, January). Labor force projections to 2020: a more slowly growing workforce. Monthly Labor Review, 135 (1), 43-64.
Implications…

Living longer

Working longer, differently

Re-conceptualizing age/career

Evolving notions of “retirement”

Struggling to keep up (employers)
Lesson 2: Age is Multifaceted

Chronological

Life stage

Career stage

Generational

Organizational

Relative

Social

Physical
Exercise: Mapping Your Age
Mapping Your Age: Your Perception
Age, Flexibility Fit, and Employee
Engagement
Lesson # 3

Workers at all ages, stages, and
career stages may have different
work styles, but they share a
desire for better work-life fit. This
is most important to older or latecareer workers.
Lesson 4: Flexibility is not Enough

Just over three in five (62%) of workers aged 50+ described the availability
of flex time as "very important" or "somewhat important.”

The most important aspect of job satisfaction for Baby Boomers is the
opportunity to use skills and abilities, with 63% ranking this as very
important.




Job Security (61%),
Compensation/pay (60%),
Communication between employees and senior management (59%)
Organizational financial stability (56%).
Lesson # 5: Job Quality is Multi-faceted
Lesson 6: Business Drivers for Innovative
Practices
 Health concerns
 Recruitment, retention, job
satisfaction, engagement
 Changes in workforce
demographics
 Changes in consumer
demographics
Lesson 7: Organizations Respond in
Different Ways
Interviews
Case studies:
Cornell, Dell,
GlaxoSmithKline,
Marriott, MITRE, and Wells
Fargo
Age: A 21st Century
Imperative
Innovative Practice Families
 Benefits
 Dependent care
 Diversity initiatives
 Health and wellness
 Leadership development
 Recruitment
 Retiring and retirement
 Training
 Workplace flexibility
Innovative Practices





Central Baptist Hospital

Career Coaching

Career flexibility addressed by a leadership succession and competency program to identify
and retain organizational talent
Marriott

Hourly Flexibility

Innovative options for scheduling, career and work design flexibility
MITRE

Phased Retirement

Part-Time On-Call

Flexible options to transition into retirement
CVS Caremark

Snowbird Program

Program that enables older workers to transfer to different CVS/pharmacy store regions on
a seasonal basis
Cornell University

Encore Cornell

Program for retirees enabling project work, consulting, volunteerism and website resources
Lessons 8: Implementation Challenges
 Lack of Data on Individual Organization’s Demographics
 Lack of Training of Managers
 Lack of Funds for New Employee Benefits
 Lack of Research Examining Return On Investment
Lesson #9: The Importance of Mentors
“Cultivate relationships with those who can teach
you.”
– Baltasar Gracian, The Art of Worldly Wisdom
 Reverse Mentor Study with The Hartford
January 2013
Lesson #10: Set Aside Time for Innovation
and Brainstorming
2013 Charette: Innovative Practices for MultiGenerational Workforces
The Sloan Center on Aging & Work at Boston College’s 2013
Charette is a fast-paced, structured process that includes a
series of tasks and team interactions resulting in an innovative
practice prototype designed to challenge your company’s multigenerational workforce.
Jacquelyn James, Ph.D.
Director of Research
Sloan Center on Aging & Work at Boston College
617-552-2860
[email protected]
Download
Related flashcards

Investment

31 cards

Investment

58 cards

Lehman Brothers

18 cards

Create Flashcards