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Deloitte Millennial Model: An Approach to Gen Y Readiness

Deloitte Millennial Model: An Approach to Gen Y Readiness

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Published by Neil Tambe

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Published by: Neil Tambe on Sep 29, 2012
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11/09/2013

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Deloitte Millennial ModelAn approach to Gen Y Readiness
 
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Attracting, developing andretaining Generation Y is achallenge worth investing in.We believe no employer isbetter positioned to do so thanthe Federal Government.
 
Deloitte Millennial Model
An Approach to Gen Y Readiness
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The Challenge
The writing is on the wall that the ederal workorce willsoon undergo a transormation. First, the Baby Boomerswill rapidly begin leaving the Civil Service as 40 percent othe ederal workorce is slated to retire within the next veyears, according to the Oce o Personnel Management.Meanwhile, a 2009 report published by the non-protPartnership or Public Service predicts that the FederalGovernment will make nearly 273,000 hires in mission-critical elds by the year 2012, adding to the magnitudeand diculty o the imminent ederal workorce transition.
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 This looming talent crisis is oten described as a tsunamiheaded towards the U.S. Government, threatening to washaway critical institutional knowledge and manpower. TheFederal Government already has a grayer workorce thanthe private sector – workers over age 40 represent 74percent o ederal sta, while those under 30 represent just eight percent. Comparatively, in the private sector,25 percent o workers are under the age o 30.
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With asignicant percentage o the ederal workorce alreadynearing retirement, now is the time to capitalize onopportunities to recruit, develop and retain top talent romthe younger generations.
1 “Where the Jobs Are 2009.” http://wherethejobsare.org Partnership orPublic Service. 2009.2 “Annual Report 2008.” http://ourpublicservice.org Partnership or PublicService. 2009.
Generation Y – reerring to people born between thelate 1970s and the early 2000s, who are also knownas “Millennials”
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– is the largest young generation romwhich the Federal Government can and should recruit.But recruiting, retaining and developing this generation issomething that the government has had diculty doingusing current methods and practices. Consequently,government aces two linked challenges: dealing with theretirement o the Baby Boomers and updating its practicesto attract their replacements.
3 The book-end years o Generation Y are loosely dened acrossbodies o literature, so we dene Generation Y’s boundarieswithout exactitudes
 Age RangeFederal Workforce Age DistributionPrivate Sector Workforce Age Distribution
Under 30 8% 25%3039 18% 24%4049 31% 25%50 and over 43% 26%

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