By 2025, Baby Boomers — a generation that has defined and controlled the workforce for the last 30 years — will be between 61 and 79 years old and the smallest generation in the overall workforce.
One of the largest generations in history is leaving the workforce, and they are going to be replaced by generations that looks and acts nothing like them — Generation X, Millennials and those just entering, Generation Z.
Welcome to the Future @ Work.
Why Is The Future @ Work Relevant?
For the first time in history, we don’t have the normal workforce succession plan. Because Generation X represents less than 21% of the workers, there are not enough of them to replace the 78 million Baby Boomers who are currently leading organizations.
This means that the 83 million Millennials will have to come up the leadership curve with great speed and agility. They will be 75% of the workforce by 2025.
However, Baby Boomers, Generation X and Millennials have stark differences in the way they approach work. The three generations have contrasting work styles, motivational drivers, and attitudes and opinions about work. They have different approaches to leadership and problem solving. They hold unique beliefs and values and work, lead, and think in completely different ways.
As this demographic tsunami continues — their differences often create challenges.
Baby Boomers and Gen X leaders have a difficult time understanding, hiring, managing, and promoting Millennials.
Millennials often struggle with relating to the current cultures at work, subsequently succeeding at work, and taking on leadership roles.
Generation X — the smaller generation that comes between Millennials and baby boomers — are caught in the middle.
As they assume top leadership positions, they are creating different cultural norms than the Boomers. Most of the workplace conflict that exists is surprisingly between Gen X and Millennials.
Organizations who are unprepared will fail to find new talent. Growth and innovation will come to a standstill and competitors will seize these opportunities. As Baby Boomers remove themselves from the traditional workplace, organizations will struggle to find new leaders to step in exposing massive leadership gaps.
Those who ignore this shift or fight the change — rather than embrace it — will get left behind.
The Opportunities and Excitement of The Future @ Work
While this may sound like a monumental problem, Navigen Leadership believes it is actually quite the opposite. We believe the generational differences are the strengths that savvy organizations have discovered.
Businesses that embrace this generational shift are seeing more success, finding more talent, and carving out a better future for their companies.
The generational diversity we can enjoy in the next decade is critical to adapting corporate cultures and creating competitive differences.
Despite what much of the media and pop-culture says — Millennials are not a detriment to the workforce. They are a gift.
Millennials are passionate, determined, and hard working. They are fast learners, innovative change agents, technologically sound and powerful leaders.
Millennials can and will change your business for the better if — and only if — you know how to work with them. We can help you “crack the code”.
How to Prepare For The Future @ Work – “We only have 10 years.”
Millennials are already the largest generation at work. In 2015 they became the largest percentage of the workforce.
At Navigen Leadership, we see the next 10 years as a pivotal opportunity for us to embrace the next generation and use their unique strengths to change and improve the way we do business while we still have the skills and knowledge of Boomers and Gen Xers.
Through education, workshops, training and coaching, we work with complex organizations, large companies, small businesses, and individuals to demonstrate how they can embrace and benefit from this new workforce.
We work with both leaders and Millennials to help them understand their differences and identify the most productive and supportive ways to find success together.
Our programs and workshops help companies and individuals successfully navigate the changes in workforce. But in order for our work to make the biggest impact, it needs to happen soon before the 10,000 Boomers who turn 65 every day leave your organization for their Encore career.
In just a few years, the workplace as we know it will be completely different.
Time is running out.
Is your leadership succession plan identified and in progress?
The clock is ticking.
Times are changing.
The Future @ Work is already here.
Make sure your organization seizes this unique opportunity instead of painstakingly fighting through the change.
Contact us today and schedule your free consultation so Navigen Leadership can show you how to embrace this opportunity and find a more successful, powerful, and enjoyable Future @ Work.