Engaging the 21st-century workforce
we begin 2014, global organizations have le the recession in the rear-view mirror and are positioning themselves aggres-sively or growth. Sluggishness has given way to expansion. Retrenchment has been replaced by investment. Te need or caution has been superseded by the need to take action. Yet as the economic recovery takes hold, businesses realize that the workorce today has changed. Skills are scarce, workers have high expectations, and Millennials are now in charge. Enter the 21st-century workorce. Te 21st-century workorce is global, highly connected, technology-savvy, and demand-ing. Its employees are youthul, ambitious, and ﬁlled with passion and purpose. Millennials are a major orce—but so are older workers, who remain engaged and valuable contribu-tors. Critical new skills are scarce—and their uneven distribution around the world is orcing companies to develop innovative new ways to ﬁnd people, develop capabilities, and share expertise.
Awakening to a new world: After the Great Recession
Future observers may look back at 2014 as a turning point: the time when the global recession ended and businesses put plans in place or a new wave o growth. But as this growth begins, companies are ﬁnding that they are dealing with a workorce with di-erent demographics, diﬀerent demands, and diﬀerent expectations.
The world is much more global and interdependent
Globalization is a key theme in our research. In 2013, the developing countries contributed 50 percent o the world’s GDP.
Tis is expected to grow to 55 percent by 2018, a signiﬁcant increase in business opportunity centering on these newer economies.
And these countries now have a large buying seg-ment: Te global middle class is expected to increase rom 1.8 billion in 2009 to 3.2 billion in 2020, with Asia’s middle class tripling in size to 1.7 billion by 2020.
rends in leadership, talent acquisition, capability development, analytics, and HR transormation are all impacted by globaliza-tion. Companies that learn to leverage global talent markets while localizing their HR strate-gies will be poised or strong perormance.
Mobile, social, and cloud computing continue to explode
echnology has transormed the workplace. At the start o 2008, there were only 3 million Apple iPhone® mobile devices in the world.
At the end o 2013, according to a Gartner estimate, there were 1 billion smartphones and more than 420 million iPhone mobile devices
Global Human Capital Trends 2014: Engaging the 21st-century workforce