9/2/2023 0 Comments Demographic shift![]() ![]() A generation concerned with the environment / Photo from Shutterstock, licensed to author What is clear is that these two generations are the most preoccupied with sustainability, diversity, and inclusion and with companies having a purpose beyond shareholder profits, which, if you ask me, can only mean good news. It is still early days to see how this insecurity will be reflected in their work behaviours and leadership traits once they start climbing the professional ladder. Gen Zers are the most sensitive and insecure generation in history and are prone to suffering anxiety and stress. Millennials are (unjustly) criticised for their seeming lack of loyalty when they have had to face precarious job conditions and job insecurity in their initial formative professional years. Both Millennials and Gen Z are generations marked by the severe crises they had to face when they entered the job market: the Great Recession and the financial crisis in the case of Millennials, and the global pandemic in the case of Gen Zers. What will be the consequences of this?Įach generation seems to have distinct commonalities and ways of looking at the world. In ten years, Millennials will be taking the shots, and Gen Zers will form a big part of the working population. This means that my dear Gen X, also known as the sandwich generation (for being sandwiched between two bigger and more talked about generations like the Boomers and the Millennials), will be the oldest generation in the workplace and will take some of the most senior positions in organisations, but many Gen Xers will also be retiring by that time. In 2030 the oldest millennials will be 50, and most of the baby boomers should be retired. Let’s have a look at them in more detail. They might comprise around 80% of the world population by the end of the century between them.Īll these shifts will have a considerable impact on the way we work and how companies are run. We also know that Asian and African populations will keep growing over the next decades. We also know that a new generation, the so-called Gen Z (those born between 19), is now entering the workforce and that by 2030 a significant majority of the workforce will be composed of millennials and Gen Zers. Demographic changes come slowly and pan out across decades, but their impact can be seen well in advance, as some of them are based on birth and death rates, which don’t change so drastically over the years.įor example, we know that the world, especially the West and some Asian countries like Japan, is ageing, and the cohort of people over 65 years old will be the age segment with the most significant growth in the next decade. We cannot predict the future very accurately in many areas, but many things can be foreseen with a certain degree of accuracy when it comes to demographic changes. The slow but inexorable march of demography is one of the main drivers affecting the Future of work. Demographic shifts will be one of the main drivers impacting on the Future of Work. ![]()
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