A new decade

Whilst the last decade was about work-life balance, "sea-changes" and portfolio careers; it is predicted that this new decade will provide some new stability.  As with every decade there will be challenges and opportunities. Pam Dew, National Manager of Bridge Consulting shares her observations. 

A large percentage of today's senior leaders (at least 40%) - according to the Australian Bureau of statistics, will reach retirement age this decade. Succession planning, career development and training opportunities are going to be critical for both Gen X and Gen Y's.  It is believed that Gen X will take on a higher percentage of senior management roles and Gen Y will also move into management positions. Intergenerational teams are going to be even more diverse when Gen Z enters the workforce later on in the decade.

By 2020 there will be more 65 year olds than 1 year olds; there will be as many people aged 60-70 as there will be aged 10-20. It is predicted that the "population pyramid" will be inverted (according to Mark McCrindle - one of Australia's leading social researcher). 

Recently there has been a lot of media attention being given to Australia's rising population and just how populated we want to become.  Some think it is all to do with immigration although there has been some interesting statistics about our mini baby boom having a lot to do with it as well.  Mark McCrindle from his research also found that, in 2001 our fertility rate was 1.7 and is predicted to fall to 1.5 by 2020.  However in 2009 the fertility rate reached a high of 1.97 and resulted in almost the highest number of births and birth rate since 1977.  Of those having children, the average number of children per household is back to three.

Generational challenges in the workplace will be interesting over the next few years.  Baby boomers will need to resist the urge to become grumpy old men and women in the workplace constantly nagging "in our day ..." We all need to recognise it is everyone's day and accept and embrace the differences.  Personalities will remain a constant variable and the cause of some workplace friction, unless of cause - we embrace diversity and the challenges and benefits that it brings.

Social categories, Heard of them?

1. NETTELS (Not Enough Time To Enjoy Life); these are the very busy couples and families burdened with a large mortgage, a relatively expensive lifestyle and a long working week!

2. Downagers; These are Australian's aged over 60 that feel and act far younger than we expect them to.  They value travel, lifestyle, as well as social connection and are far more willing to adapt to new technology. 

3. TWITS (Teenage Women in Their Thirties); this emerging sector has extended their adolescence and others after starting a family have reached a second teenage lifestyle!

4. SKI's (Spend Kids Inheritance); Also known as the "Blue Brigade" which is those baby boomers travelling around Australia and in fact the world.  No longer concerned with leaving great inheritance for their off-spring but enjoying a life style that they have long dreamed of.

So get ready for a decade that is going to bring greater diversity into our workplaces for people of all generations.  Challenges are common place but the nature of these challenges will be managing career progression and regression; a new generation coming into the workforce and a generation departing.   

For more information on generational differences, personality preferences or diversity issues within your workplace please contact Pam Dew on 03 9864 6040.

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