Training Magazine - July 2008 - (Page 12)

soapbox Training the Next Generation With Baby Boomers set to retire in record numbers in the coming years, the war for emerging young leadership talent will be a major preoccupation of U.S. employers. How can the next generation be trained and assimilated to take the place of those Baby Boomers? BY SHARON BIRKMAN FINK The upcoming generation of business talent will have needs—and parameters for personal and organizational success—that are far different from their current workforce counterparts. Training them to be outstanding performers and team contributors will be the No. 1 organizational development challenge between now and 2020. The working world has undergone incredible changes over the last 10 years. According to the U.S. Bureau of Labor Statistics, the average job Sharon Birkman Fink is tenure is currently only four years (compared to 15 years in 1980). The average worker could change president and CEO of jobs as many as six times, and that number will Birkman International, only go up for younger workers just now entering Inc., which provides an the job market. At the executive level, according to assessment tool that the Corporate Leadership Council, on average, 50 measures internal needs, percent of newly hired executives are fired or quit behaviors, occupational within the first three years. Up to 40 percent are laid preferences, and organioff within 18 months of hiring. Studies show that 25 zational strengths. She percent of managers in the Fortune 500 change jobs can be reached at every year. 713.623.2760 or This kind of rapid turnover creates two organizasfink@birkman.com. tional imperatives. The first is the use of personality assessment to identify the leadership capabilities of each person within an organization so that those with high potential can be nurtured and targeted for retention. The second, related effort is the implementation of leadership development programs. Every company should identify where leadership and talent gaps are likely to occur through retirement and normal attrition. The company then should plan a strategy to develop talent internally, or source it externally, or both. According to a recent study sponsored by Birkman International and Stanton Chase, only 18 percent of U.S. companies have put in place a talent acquisition plan, with 31 percent saying they have one planned but not implemented and 51 percent having done neither. GENERATIONAL PERSPECTIVE The realities of high turnover and the need to identify new talent and capabilities must be viewed through the lens of workplace demographics. Most organizations now understand there are significant 12 generational differences in the primary demographic segments of their workforce. From the trainer’s perspective, there are three main age categories, and members of each group have their own characteristics and their own needs when it comes to the focus, content, and delivery of their individual development plan (IDP). Baby Boomers are those individuals approximately 47 to 62 years old, and there are anywhere from 70 to 80 million of them in the workforce today. As a group, they tend to define themselves through their jobs and achieve their identity through the work they perform. Boomers tend to be competitive, moralistic, optimistic, and self-focused. From an IDP standpoint, Boomers typically view training as a means to career advancement, defined as achieving the highest feasible income and responsibility levels. IDP delivery forms they are most comfortable with are classroom teaching, independent reading, and one-on-one coaching. Generation X, ages 26 to 46, are the “baby bust” group—the lower birthrate of their age cohort means they make up about 40 million members of the workforce. Gen Xers define success by creating the life they want, value flexibility, and view themselves as free agents not indefinitely tied to any organization. Their IDP expectations are above all for self-focus and self-investment, with programs adding to their intrinsic personal value by helping them build a portable repertoire of skills. If the IDP delivery is fast-paced and interactive, it will register with Gen Xers. Millennials is the term now commonly applied to the youngest workers, those ages 25 and under, a group formerly referred to as Generation Y. They just now are entering the workplace in force, and there are potentially 80 million or more of them. For Millennials, everything is about speed, customization, and interactivity—the more digital the better. They love freedom and responsibility, and have been given both throughout their lives. As the products of “helicopter parents” and similarly inclined teachers who have hovered over them and provided praise, stimulation, and support, Millennials expect w w w. t r a i n i n g m a g . c o m | JULY / AUGUST 2008 t r a i n i n g http://www.trainingmag.com

Table of Contents Feed for the Digital Edition of Training Magazine - July 2008

Training Magazine - July 2008 Contents Online TOC Editor’s Note Training Today Soapbox How-To World View Managing the Magic Keys to the Kingdom Good Job! Personalities & Performance Hidden Potential The Executive Entrance Live & Online No More Revolving Door Questions for Covey TMI Brochure

Training Magazine - July 2008

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