Deloitte Millennial Model: An Approach to Gen Y Readiness |
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The writing is on the wall that the Federal workforce will soon undergo a transformation. First, the Baby Boomers will rapidly begin leaving the Civil Service as 40 percent of the Federal workforce is slated to retire within the next five years, according to the Office of Personnel Management. Meanwhile, a 2009 report published by the non-profit Partnership for Public Service predicts that the Federal government will make nearly 273,000 hires in mission-critical fields by the year 2012, adding to the magnitude and difficulty of the imminent Federal workforce transition.
This looming talent crisis is often described as a tsunami headed towards the U.S. Government, threatening to wash away critical institutional knowledge and manpower. The Federal government already has a grayer workforce than the private sector – workers over age 40 comprise 74 percent of Federal staff, while those under 30 constitute just eight percent. In the private sector, comparatively, 25 percent of workers are under the age of 30.2 With the Federal workforce already nearing retirement, time is running out to avert the already impending talent crisis by recruiting, developing, and retaining top talent from the younger generations.
Generation Y – referring to people born between the late 1970s and the early 2000s, and who are also known as “Millennials”3 – is the largest young generation from which the Federal government can, and should, recruit. But recruiting, retaining, and developing this generation is something the government has had difficulty doing using current methods and practices. Consequently, the Federal government faces two linked challenges: managing the retirement of the Baby Boomers and updating its practices to attract their needed replacements.
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Deloitte Millennial Model: An approach to Gen Y Readiness
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