The 2020 Workplace Dr. Karie Willyerd VP and Chief Learning Officer SuccessFactors
The 2020 Workplace The 2020 Workplace: How Innovative Companies Attract, Develop, and Keep Tomorrow s Employees Today Available wherever books are sold 2
Three Forces Shaping the Future of Work BY 2020: Global access to markets and talent will reshape business Globalization BY 2020: Five generations will be working side-by-side in organizations Demographics BY 2020: Social media will connect employees, customers, and partners for immediate communication Social Web 3
Globalization Changes the World Financial Times Location of Global 500 Headquarters Top 15 Country 2005 2006 2007 2008 2009 2010 2005 to 2010 change United States 219 197 184 169 181 139 37% Japan 43 60 49 39 49 71 UK 33 36 41 35 32 31 China 8 11 16 35 43 46 475% Canada 22 22 23 24 27 11 50% France 28 30 32 31 23 39 Germany 19 19 20 22 20 37 95% Australia 8 8 11 11 14 8 Spain 9 8 12 14 13 10 India 5 4 8 13 10 8 60% Switzerland 12 11 12 12 10 15 Brazil 5 8 7 11 9 7 40% Netherlands 9 8 10 8 8 13 Italy 12 11 8 7 7 11 8% Russia 4 8 8 13 6 6 4
Size of the Generations in US Now 90m TRADITIONALISTS BABY BOOMERS GENERATION X MILLENNIALS GEN 2020??? 70m 50m 30m 10m 5 Generations <1946 <1964 <1976 <1997 1997-? 5
2005 US Generation 2020 0% Demographics Demographics Millennials 25% Generation X 23% Baby Boomers 45% Traditionalists 8% 6
2010 US Generation 2020 0 Demographics Demographics Millennials 36% +11% Generation X 22% Baby Boomers 38% -7% Traditionalists 4% -4% 7
2015 US Generation 2020 1% Demographics Demographics Millennials 45% +11% Generation X 21% Baby Boomers 31% -7% Traditionalists 3% -1% 8
2020 US Generation 2020 7% +6% Demographics Demographics Millennials 50% +6% Generation X 20% Baby Boomers 22% -9% Traditionalists 1% 9
Top 5 Things Millennials Expect From a boss: 1. Help me navigate my career path 2. Give me straight feedback 3. Mentor and coach me 4. Sponsor me for formal development programs 5. Accommodate flexible schedules Source: Meister & Willyerd, Harvard Business Review, May 2010 10
Top 5 Things Millennials Expect From their next organization: 1. Develop my skills for the future 2. Hold strong values 3. Offer customizable options in my benefits and reward package 4. Allow me to blend work with the rest of my life 5. Offer a clear career path Source: Meister & Willyerd, Harvard Business Review, May 2010 11
Millennials Want Mentoring New methods to save time Group mentoring Team-based learning Reverse mentoring Anonymous mentoring Peer-to-peer mentoring with micro-feedback 12
Cisco s Social Media Survey of Millennials 2/3 will ask about social media during job interview 56% will not take a job from a company that bans social media, or they will work around the ban 1/3 prioritize social media access and mobility device freedom over salary 41% say their company marketed their social access device and social media policy to recruit them 68% believe corporate devices should be used for social media and personal use 50% would rather lose their wallet or purse than smart phone 70% believe being in an office is unnecessary http://www.cisco.com/en/us/netsol/ns1120/index.html 13
Smartphones Not a Luxury for Millennials Smartphone Penetration by Age and Income Source: Nielsen, January 2011 14
Email Is So Yesterday The age they go to school/work Source: comscore Media Metrix, 2011 15
Millennials Around the World Are Connected: Autocracies Are in Trouble Twitter is huge for me; I get most of my news on Twitter and yet is also an extraordinary exemplar of a new order of political operative and advocate. Through her tweets and Facebook posts, she has sought to evoke, in real time, the experience of the protests. These are our weapons, she says, brandishing her smartphone. Vanity Fair, April 2011 Gigi Ibrahim, 24, citizen journalist in Cairo 16
107 trillion emails in 2010 89.1% were spam 17
8 billion texts sent every day 18
25 billion tweets 700 million users on Facebook 70% outside US 19
4 billion YouTube videos watched a day On average, almost 400 videos watched a month 35 hours of video uploaded a minute 20
92% of US children have an online presence by age 2 72% in Western Europe AVG, October 2010 21
The contribution revolution is here 22
But not at work! (What s with that? Will the autocrats get overthrown?) 23
McKinsey Study: Benefits Companies Reported for Internal Use of Web 2.0 Technologies Benefit % of Companies Reporting Average % Improvement Increasing speed of access to knowledge 77 30 Reducing communication costs 60 10 Increasing speed of access to internal experts 52 30 Decreasing travel costs 44 20 Increasing employee satisfaction 41 20 Reducing operational costs 40 10 Reducing time to market for products/services 29 20 Increasing number of successful innovations for new products/services 28 20 Increasing revenue 18 15 24
Huge Productivity Gains Possible with Just Information Access Speed Benefit % of Companies Reporting Average % Improvement Increasing speed of access to knowledge 77 30 UC Berkeley estimated information doubling every 2 years; in some fields every 6 months IDC estimates the average knowledge worker spends 15-30% of their time looking for information With 30% improvement, they spend 10.5% to 21% of their time looking for information up to 9% productivity improvement 25
How is social media changing the lives of leaders? 26
Glassdoor.com 27
Is It Really a Big Leap? Rate My Professors: 1 million professors rated 28
The underlying principles on the Web of natural hierarchy, transparency, collaboration, and all the rest those characteristics are going to invade management. The idea of a hierarchy that fundamentally empowers the few and disempowers the many is more or less dead. Gary Hamel, management consultant www.managementexchange.com 29
How can leaders broaden the scope of employee freedom by managing less without sacrificing focus, discipline and order? Gary Hamel, management consultant www.managementexchange.com 30
What Can You Do NOW? 1. Ensure you are fluent in the new language of business 2. Conduct a workforce analysis risk assessment and determine what your workforce plan should be 3. Build a recruiting machine to reach candidates where they live online 4. Develop a clear learning and development strategy to attract new employees and ready your existing employees for the future 5. Make sure your HR systems are app and mobile friendly 6. Use social technologies with video inside your secure environment to allow people to communicate, learn, and collaborate on leading-edge platforms 7. Prepare your leaders with the new competencies required to lead the 2020 workforce 31
R U Rdy? 32
Thank You kwillyerd@successfactors.com Twitter: @angler