We Know Next Weekly Recap: October 15-19th

News Updates

In case you missed it, here’s what happened on We Know Next this week.

Millennial job seekers just wanna have fun, and employers looking to recruit and retain recent graduates should make workplace fun a “central focus of recruiting efforts,” according to recent academic research. The findings hold up even at a time when a sluggish economy is leaving many graduates under- or unemployed, says John W. Michel, Ph.D., assistant professor of management at Loyola University Maryland.

By the year 2020, approximately 50 percent of the US workforce will be composed of Generation Y workers – those born between 1976 and 1991 – and only 25 percent baby boomers. The US workforce will change dramatically in the next eight years. "We are facing a huge generational shift as baby boomers (born between 1946 and 1964) leave the workforce, and that means we have to rethink our workspace," says Michael O'Neill, senior director of workplace research for Knoll, Inc.

Many American workers can expect gains in compensation in 2013, although wage growth continues to make slow strides in the post-recession economy. U.S. employees should see median base salary increases of 3 percent in 2013, according to global consultant Hay Group. When an anticipated consumer price growth of 2.2 percent is factored in, workers will see a net gain of 0.8 percent in pay in 2013—an improvement from a net loss of 0.6 percent in 2012.

“Intuition absolutely plays a part [in business] but describing it in tangible business-related terms is a challenge,” said Madeline Hollis, SPHR, HR manager for a Tennessee-based financial services company.

Hollis, a Society for Human Resource Management (SHRM) member, has found her intuition to be “spot on” and believes there’s a notable difference “between intuition and initial bias to a situation.” She adds: “That’s why I internally or sometimes externally probe for understanding.” Often, she has found that the business-related reason for her gut feeling becomes apparent.

Youth unemployment and skills shortages are driving some business leaders to get more involved in the education of the future workforce. Often, they focus on the need to prepare young people for jobs in industries and professions that are growing the fastest.Very high levels of youth unemployment have been a key characteristic of the post-recession, low-growth global economic environment. The latest findings from the Organisation for Economic Co-operation and Development (OECD) reveal just how devastating the recession was worldwide.

Check out SHRM's interview with Bruce Tulgan, Founder of Rainmaker Thinking Inc., where he talks with Joseph Coombs, SHRM's Workplace Trends and Forecasting Specialist, about the advantages and difficulties associated with managing multiple generations.

We Know Next is the leading resource for business executives, policymakers and human resource leaders to explore and discuss the latest workforce and workplace trends—providing the in-depth research and insights needed to adapt and take advantage of what’s next.