It seems that every day another news story appears about the changing workforce. Headlines range from the Economist’s cover story “The Search for Talent: Why It’s Getting Harder to Find” to BusinessWeek’s cover story “The Future of Work” to FORTUNE’s cover story “Get a Life! Ditching the 24/7 Culture.” The media’s attention is indicative of the growing importance of these issues to society and, therefore, to business leaders. Yet historical workforce trends are still by and large treated as disparate and disconnected. But in fact, these events are not only connected, they are converging, creating unprecedented pressure on organizations to respond with a significant, structural response.
Mass career customization (MCC) meets these challenges and provides organizations with a new approach for how work gets done and careers are built.
Shrinking Pool of Skilled Labor. The Economic Policy Foundation estimates that there will be a six-million-person gap in the U.S. between the number of students graduating from college and the number of workers needed to cover job growth and replace retiring Boomers by 2012, and a 35 million gap by 2025. Despite assumptions to the contrary, this gap cannot be filled completely using conventional tactics like outsourcing and technology-based productivity gains. In fact, India – a major outsourcing destination – is itself starting to feel the pinch, with a 500,000 worker shortfall predicted in its IT sector by 2010.
Changing Family Structures. Only 17 percent of U.S. households today are traditional with a husband who works outside the home and a wife who does not, compared to 63 percent of households in earlier generations. Nontraditional families are putting pressure on existing workplace models of career progression originally structured to match the mainstream rhythms of the traditional two-parent, single-income household of the past.
Increasing Number of Women. Nearly 60 percent of all college graduates today are women, graduating with better grade point averages and more honors than men. More than half of all management jobs today are held by women. Yet, most women’s lives do not fit traditional career trajectories; indeed, the majority of women have nonlinear or discontinuous careers.
Changing Expectations of Men. More and more men have reached a point where preserving or increasing their personal time is more appealing than acquiring bigger jobs and more money. A recent study found that 56 percent of senior executives surveyed would strongly consider refusing a promotion if it meant fewer hours available for their personal lives.
Evolving Expectations of Generations X and Y. Defined as those between 18 and 43 years of age, these demographic groups have high expectations for both personal and work lives. Members of these generations view careers as personalized paths that fit their individual interests, development goals and desire for many diverse experiences. They are technologically savvy, adaptable to change, and often eager to work using nontraditional methods and schedules.
Increasing Impact of Technology. Advanced technologies continue to pave the way for employers and employees to create new options for when, how, and where works get done. The payoff for using technology in this way can be substantial. Sun Microsystems reported cost savings of more than $387 million over four years from a global program involving more than 55 percent of its 35,000 employees.
Related links
Building a Lattice Organization
About Mass Career Customization
From Ladder to Lattice
Mass Career Customization Framework
Deloitte's Journey
