Tips for Adapting to Regional Workforce Changes

Bain & Co.'s recent report reveals an impending shift: by the next decade, around 25% of the US workforce could be 55 or older, a notable 10% increase from 2011. As the global workforce sees nearly 150 million jobs transitioning to older professionals, the impact of this demographic evolution is undeniable. Companies poised for success will recognize and adapt to this change. Here are strategies outlined by the report: 👉 Recognizing older workers' motivations is paramount. They value meaningful tasks, autonomy, flexibility, and fair pay. Aligning workplace culture with these interests can foster a more engaged senior workforce. 👉 Reskilling is non-negotiable. By updating the skills of older workers, companies can leverage their extensive experience, ensuring an adaptable team that meets future demands. 👉 Respect and recognition of older employees' vast experience and insights will not only enrich the company's knowledge base but also foster a culture of inclusivity and respect. Anticipating these shifts and proactively integrating these strategies will benefit businesses immensely. At The Swan Group, we're advocates for harnessing the strengths of an age-diverse workforce for a more inclusive, innovative, and prosperous future.

A new study finds that 89% of workers report that their company has undergone at least some changes within the past year, such as changes in job roles or responsibilities (35%), workplace technology (30%), and workforce growth (28%). HR leaders should respond to this finding by acknowledging that continuous organizational change, encompassing shifts in job roles, technology, and workforce size, is the prevailing reality. This necessitates a proactive and human-centric approach, where HR's role is to build a resilient and adaptable workforce that can thrive in the face of constant evolution. Key actions include fostering transparent communication about the rationale behind changes, providing robust support for employee well-being and skill development to navigate new demands, and leveraging insights into employee sentiment to mitigate potential burnout or disengagement. By prioritizing adaptability and empathy, HR can transform periods of change into opportunities for growth and ensure the organization's sustained success. Read the article covering the study by Kit Eaton - https://lnkd.in/edA2scCj

Strategies to adapt to and for multi-generational workforces 👵🏼👴👩🏽👧 🧓🏿 According to the Stanford Center on Longevity, advances in healthcare and biotechnology, among others, a 100+ year life-span will be common for those born today. Longer lifespans demand strategies to support multi-generational employees that span not three generations, but four, five, or even six! The dynamics related to these shifts in the global workforce are one of the most exciting to explore in the space of the future of work, and one of the more challenging for organizations and society at large. As Paylocity's Futurist-in-Residence, I offer some suggestions to help structure the opportunities available in this changing landscape: 🔵 Update management mindsets to foster collaboration and inclusion. Multiple and diverse points of view make strategy and decision-making more robust. Experience combined with innovation unlocks new opportunities for growth and improves the ability to mitigate risk. Team-building and project-resourcing upgrade to include multiple perspectives, skills, and experience levels. 🔵 Rethink career paths. Old-school career design was based on the linear, ladder model. One track, one area of focus, limited flexibility, until you retire. A reshaping of career strategy should look more like a mosaic career™️ – a flexibly, dynamic career model rooted in interests, values, and capabilities that can flex and adapt over time with changes in the marketplace. 🔵 Enable continuous reskilling. Gone are the days of “diploma and done.” The pace of technological change, combined with shifts in the marketplace demand life-long learning. Multi-generational classrooms with open, experiential learning opportunities will help prepare individuals and organizations to thrive. My programs teach leading and managing unprecedented change, communicating with empathy, and envisioning strategic workforce plans. Let’s connect to discuss how your organization can get ahead of the curve in preparing for our 100-year life future. With vision, longer careers and generations working together can propel, not hold back, your success. The workforce of the future awaits us. #futureofwork #strategy #leadership

After participating in a series of Gen AI events, we've compiled a summary of our insights regarding the implications that workforce planners should take into account. 1. Leveraging Gen AI, we can enhance productivity with early career talent. As a result, we can do more with early career talent 2. It's essential to reconsider the experience requirements outlined in job descriptions as due to automation, this may change 3. Particular roles, such as Data Engineering, Prompt Engineering could become pivotal and potential bottlenecks without careful planning. 4. AI integration will not merely augment tasks but will be fully integrated into job functions. 5. The Analysts' talent pool must receive training in newer generative AI skills. 6. Initiating projects sooner may be advantageous in some cases, while in others, a different approach may be preferable. 7. Developing comprehensive cost models for Gen AI, including setup, deployment, and yearly operational expenses, will be a critical aspect of Workforce Planning. 8. Proficiency in interpreting and understanding data limitations will become a vital power skill. 9. Smaller talent pool ecosystems will gain prominence, shifting the focus towards the quality of available talent. 10. Collaboration and connectivity between enterprises, universities, research institutions, and professors will significantly expand as enterprises explore advanced AI applications. Draup #workforceplanning