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Innovation Overload - Technology, Jobs and the Future

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Innovation Overload - Technology, Jobs and the Future

  1. 1. Technology, Jobs and the Future Speaker: David Smith This is not your grandfather’s job market where one could work and retire from one company after 40 years. Your father and your company have probably not fared that well either. The fast pace of technology change and productivity improvements, in an increasingly competitive market, have forced companies to change their strategy, frequently upgrade and improve their products or services, and adjust their workforce. Downsizing, outsourcing, automation, financial pressures, short-term demands, and failed strategy all contribute to the challenges. This talk explores the future of work and how it impacts companies and you.
  2. 2. David Smith Technology, Jobs and the Future
  3. 3. Work “No other technique for the conduct of life attaches the individual so firmly to reality as laying emphasis on work: For work at least gives one a secure place in a portion of reality, in the human community.” Sigmund Freud The product of work contributes to health, well-being and economic & social stability.
  4. 4. Changes to the Future of Work
  5. 5. But the Work Will Not be The SAME
  6. 6. Source: Employment Policy Foundation analysis and projections of Census/BLS and BEA data. Millions of People Expected Labor Force and Labor Force Demand Growing Shortage of U.S. Workers 0 50 100 150 200 250 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 Labor Needed Labor Available
  7. 7. Female Labor Force Participation (as a Percent of the Female Population Age 15+), 1990-2011
  8. 8. Screeching to a Halt: Growth in the Working-Age Population Source: Deloitte Research/UN Population Division (http://esa.un.org/unpp/) : Do You Know Where Your Talent Is? Why Acquisition and Retention Strategies Don’t Work, p.6 -50% 0% 50% 100% 150% 200% Mexico Brazil India China South Australia Canada US Netherlands Spain France UK Russia Italy Japan Germany Korea 1970-2010 2010-2050
  9. 9. 5% 5% -9% 18% 48% 15% -20% 0% 20% 40% 60% 80% 16-24 25-34 35-44 45-54 55-64 65+ Age of Workers Percent Growth in U.S. Population by Age: 2000-2010 Dramatically Different Patterns of Growth by Age 1. Declining number of mid-career workers 2. Few younger workers entering 3. Rapid growth in the over-55 workforce Source: U.S. Census Bureau
  10. 10. . . . Continuing Into the Future Age of Workers Percent Growth in U.S. Workforce by Age: 2000-2020 7% 8% 7% -10% 3% 73% 54% -20% 0% 20% 40% 60% 80% under 14 15-24 25-34 35-44 45-55 55-64 65+ Source: U.S. Census Bureau
  11. 11. In 2000, A Fairly “Young” World . . . Under 5% 5% to 12.4% 12.5% to 20% Above 20% Source: U.S. Census Bureau Percent of Population Age 60+ in 2000
  12. 12. . . . Rapidly Aging by 2025 Source: U.S. Census Bureau Under 5% 5% to 12.4% 12.5% to 20% Above 20% Percent of Population Age 60+ in 2025
  13. 13. “Sudden” Boom in Life Expectancy Source: U.S. Census Bureau Life Expectancy at Birth: 1000 - 2000 Age 76.5 47 38 3635 30 25 0 10 20 30 40 50 60 70 80 1000 1200 1400 1600 1800 1900 20
  14. 14. And a Dramatic Drop in Birth Rates Source: Age Wave TotalFertility Rate Total Fertility Rate: 3.3 2.8 2.9 3.6 2.0 2.5 2.5 4.0 5.9 2.0 1.7 1.7 1.6 1.4 1.3 1.2 1.8 3.1 0 1 2 3 4 5 6 7 US UK France Canada Japan Germany Italy China India 1960 2000
  15. 15. Why? The Baby Boom Pattern Source: U.S. Census Bureau International Data Base 1930 1940 1950 1960 1970 1980 1990 4.5 4.0 3.5 3.0 2.5 2.0 BirthinMillions The Boom Years: 1946-1964
  16. 16. “Multi-Generational” Workforce Five generations (cultures) are being asked to coexist in the early 21st century workplace
  17. 17. When I was growing up, my parents used to say to me, "Tom, finish your dinner. People in China and India are starving." Today I tell my girls, "Finish your homework. People in China and India are starving for your jobs." Source: “The New York Times' Thomas Friedman on Globalization,” CIO Magazine, March 25, 2005 —Thomas Friedman, The World is Flat
  18. 18. Falling Desire for Jobs with Greater Responsibility Source: Generation & Gender in the Workplace, An Issue Brief by Families and Work Institute 69% 41% 14% 60% 54% 31% 15% 80% Under 23 years old (Gen-Y in 2002) 23-37 years old (Gen-X in 2002) 38-57 years old (Boomers in 2002) 58 or more years old 1992 2002
  19. 19. Declining Desire for Jobs with Greater Responsibility By Gender Source: Generation & Gender in the Workplace, An Issue Brief by Families and Work Institute 52% 68% 1992 2002 Men 36% 57% 1992 2002 Women Employees Wanting Jobs with Greater Responsibility
  20. 20. Lower Alignment with the Organization 45 39 32 48 44 28 57 52 35 65 61 53 0 10 20 30 40 50 60 70 I really care about the fate of this organization (agree) I’m willing to put in effort beyond that normally expected to help the organization be successful (agree) I find my values and the organization’s are similar (agree) Y X Boomer Traditionalist Source: The New Employee/Employer Equation, The Concours Group and Age Wave
  21. 21. • to disappear • to go away • to withdraw Source: Webster's New Twentieth Century Dictionary Webster's Definition of Retirement
  22. 22. Average Retirement Age of Males Source: Center for Strategic and International Studies France 64.5 59.2 65.2 60.5 64.5 60.6 66.2 62.3 66.2 62.7 66.5 63.6 67.2 Germany Italy Canada UK US Japan 1995196068 66 64 62 60 58 56 66.5
  23. 23. Education Work Leisure 0 10 20 30 40 50 60 70 80 Shifting the Old Work/Life Paradigm . . . Age Source: The Concours Group and Age Wave
  24. 24. Education Work Leisure 0 10 20 30 40 50 60 70 Age 80 . . . To a “Cyclic” Life Paradigm Source, The Concours Group and Age Wave
  25. 25. Education Work Leisure 0 10 20 30 40 50 60 70 Age 80 . . . Evolving to a “Blended Lifestyle” Source: Demography is Destiny, The Concours Group and Age Wave
  26. 26. Cutting Back Has New Meaning: Cyclic Work 12% 39% 49% Working full-time Working part-time Moving back and forth between working full-time and not working The most popular pattern for working after “retirement” is not part-time, but moving back and forth between periods of working and not working. Source: The New Employee/Employer Equation
  27. 27. 12% 39% 49% Working full-time Working part-time Moving back and forth between working full-time and not working The most popular pattern for working after “retirement” is not part-time, but moving back and forth between periods of working and not working.
  28. 28. Copyright 2012@ HBMG Inc.
  29. 29. Copyright 2012@ HBMG Inc.
  30. 30. The reward for work well done is the opportunity to do more. - Jonas Salk (1914 - 1995)

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