In 2015 in Canada, there were 19% Millenials in Canadian households, 28% Gen X, 38% Boomers, and 15% Pre-Boomers.
The predictions by 2030 are that the workforce will be largely Millenials (1980-1995) and Gen Xers (1967-1979), with a relatively small group of Baby Boomers (50-69) at retirement age. Gen Z has started entering the workforce (1995-2012) and beginning to show up in lower level positions.
Given that the bulk of the workforce will be millennials and baby boomers, what are some of the requirements for employers and employees by 2030?
For Baby Boomers, employers will need to focus strongly on succession planning with individuals in this group, seasoned and experienced in the skills areas, a boon for Gen Xers looking for promotion and increased responsibilities in their roles. The difficulty for Gen Xers is access to this transfer of knowledge and mentoring. In addition, Millenials may look forward to increased opportunities and earlier promotions to assume responsibilities as demanded by the workplace. It is not anticipated that Millenials will have any difficulty reaching out to absorb through online research, information gathering with baby boomers and with organizational data, to support their efforts to achieve success in the area of interest.
For Millenials, their technology complaints may include the frustrations of time wasted searching for documents, finding specific information about a project or task and trying to locate key contact details for co-workers, clients, suppliers and resources who may be virtual connections only. The solution of access to efficient technology services may be a frustration left over from Boomers not as well versed with ICT systems. In addition, Millenials are a generation that seeks to solve problems themselves and if the technology being offered is not satisfactory they will find something else to use, whether company supported or not. For example, the use of Dropbox, Google Drive and iCloud.
Canada brings in 250,000 skilled immigrants a year and this continues to fall short of the demand in the workplace. Locating career opportunities is important, yet also understanding the ways that you can build your career to be successful in the labour market.
What can Millenials do to accelerate their careers?
If you are a Millenial, or an upcoming Gen Z, you will need Communication Strategies to build positive relationships with your managers, whether Gen Xers or Boomers. Airing frustrations with technology and the differences in supporting job needs, Conflict Resolution or Stress Management, Dealing with Difficult People or even Assertiveness Training can increase your flexibility in approach and resolution of a situation.
What can Baby Boomers do to manage the transition?
Business owners, executive teams and senior management need to be aware of the dynamics created by changing demographics and invest in management training accordingly.