What to Expect in the Workforce for 2020
While it may not be noticeable by many, Millennials, who have only just graduated college in recent years, are now career-hungry, driven professionals flooding into the job market. With approximately 80 million young adults that fall under this era born between 1976 and 2001, it is estimated by 2020, almost half of U.S. workers will be Millennials. Undoubtedly, organizations today are experiencing this shift in workforce demographics.
The cultural make up is important to recognize, as the shift in age is also accompanied by a shift in ethnic diversity. In previous generations, only 27.5% (13% African American, 12% Hispanic, 3% Asian, 1.5% Other) were minorities. In the Millennial generation, the numbers have increased to 40.2% (14.2% African American, 18.5% Hispanic, 4.3% Asian, 3.2% Other).
This new wave of talent, as we have observed, has been brought up with technology right at their fingertips. From smartphones to laptops, they have effortlessly learned every tip and trick without ever reaching for a manual. With access to information faster and easier than ever before, we are looking at a multi-tasking generation that has every potential to take our business productivity to the next level. They are also innovative and provocative thinkers who thrive on bringing forth fresh, new ideas to the table. Interestingly, they value work-life balance, finding meaningful work, and being involved in a collaborative work environment.
Source: Weber, B. (n.d.). By The Year 2020, Almost Half Of The Workforce Will Be Made Up Of These People. Retrieved from http://www.upworthy.com/by-the-year-2020-almost-half-of-the-workforce-will-be-made-up-of-these-people-5