The facilities management workforce is heading towards retirement, and companies that self-provide FM services are at risk due to the talent gap. By the end of 2014, millennials are expected to make up 47% of the workforce. Recruiting this new wave of talent is key to solving this problem of an aging workforce. Millennials may be unaware of FM careers, however, and the ability to attract and motivate top candidates to FM is crucial in order to survive this demographics shift.
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The future of facilities management: Attracting millennial talent
1. The Future of Facilities Management:
Attracting Millennial Talent
Facilities Management
2. 1
What is a Millennial?
- Millennials are the demographic cohort following Generation X (1965-1980).
- Researchers and commentators use birth years ranging from the early 1980s to the
early 2000s.
- Millennials are highly-educated, confident, demanding, goal oriented, burdened by
debt, and technologically savvy.
- They like immediate and timely recognition and dislike micromanagement.
- Millennials are the most racially and ethnically diverse generation (Pew Research).
- Being a good parent is one of their top priorities in life (Pew Research).
- By 2014, Millennials are expected to make up 47% of the workforce.
3. 2
The Problem
– The average age of FM professionals is 49, far more
skewed than the general working population average
of 43.
– Today’s aging facilities management workforce is
pressuring the Facilities Management (FM) talent
pipeline.
– For companies facing a Baby Boom retirement wave
of FM professionals, a pronounced talent gap is
taking shape.
– The demand for these types of jobs far exceeds
supply.
– Companies that self-provide FM functions and services
are at risk due to the talent gap, starting with the
escalating costs of talent recruiting, onboarding and
training.
Large Scale Talent Gap
(Retirees)
Demand
Supply
4. 3
Why are self-providers of FM at risk?
– Capital funding and cost management
With at least $1-trillion spent on facilities management each year, according to The Economist, it’s
become increasingly vital for self-providers of FM to find alternatives to the escalating pressures of:
– Continuity and resiliency
– Staffing sources and cost of talent development
– Advancing technology, mobility and virtual collaboration
– Data analytics and decision support
– Addressing delivery of non-core functions and competencies
– Leveraging economies of scale attainable via outsourced partners
– Connecting FM services delivery to organizational performance
5. 4
JLL’s Independent Research Study
JLL commissioned an
independent study in
March, 2014, probing the
views of more than 200
millennials. Of those
surveyed, 50% hold
professional jobs, and
50% are still in college.
Percent
Professionally
Employed
50 Percent
Still in College
50
Millennials Ages 21-34
6. 5
Millennial Students Unaware of FM Careers
Scientist, Technologist, Engineer, Mathematician
Business Management, Accounting, Audit
Government (including Defense)
Building Science / Architect
Project & Construction Management
1% Facitlities Management
53%
22%
14%
6%
4%
of them see
themselves in
a research or
lab role
of them see
themselves in a
general business,
consulting or
finance related role
see
themselves in
accounting
What types of roles do students think they will most likely end up in?
7. 6
Hierarchy of Millennials’ career fulfillment
Creating Change
Making a difference in the
world; using innovation
Travel &
Other Perks
Challenge
A job where you are challenged and constantly learning
Growth
There are opportunities to progress and further my career
Ways of Working
An enjoyable, rewarding place to go to work everyday
Salary
Financial stability
Securing a Job & Job Security
In the workforce and not in danger of losing your job
8. 7
A Career in FM satisfies these needs
Challenge
– Ability to make a difference in the world through sustainability, meaning, purpose, and having a voice
that defines an important characteristic of diversity of thought, opinion and expression in today’s
workplace continuity and resiliency
Growth
– Potential to grow their careers through job rotations across multiple client accounts and upward
mobility both geographically and up the career ladder
Ways of working
– Warmth and care from teams and leaders (recognizing individual talent, mentoring and
communication across generations)