NCET Biz Tips: Creating the workforce of the future

Where did all the leaders go?
As expected, the workplace demographics have shifted significantly. The pandemic accelerated the shift as many Baby Boomers (ages 57-75 years old) retired sooner than expected. By 2025, Millennials (ages 25-40 years old) will be 75% of the workforce. The rapid shift to a majority Millennial workforce has surfaced a culture reflecting Millennial values and expectations, a workforce of digital natives, and a workforce of inexperienced leaders facing unprecedented challenges in the workplace.

What does this mean for your company?
Leadership of your company is shifting from seasoned Baby Boomers who developed knowledge and experience over decades to Millennials who are stepping into mission critical roles with less time to  develop deep capabilities. Millennials will need to quickly acquire knowledge and skills to make strategic decisions and lead teams.

Who will develop the next generation of leaders?
In between a big generation of Baby Boomers and a big generation of Millennials is a small band of GenX leaders. As the smallest generation in the workforce, GenX leaders have an enormous workload. GenX leaders have assumed responsibilities vacated by Baby Boomers - former senior management - while also taking on mentoring responsibilities for Millennials who are stepping into new leadership roles.
In addition to the pressure of added responsibilities, GenX leaders are navigating new ways of leading the workforce of the future.

What is the new leadership paradigm?
Millennials expect a different work experience than their predecessors. They want a purpose-driven role. They want to know that the work they are doing makes an impact in their company, and more broadly in a cause or community. Millennials want a collaborative and inclusive workplace, with remote work options. They want a tech ecosystem that enables them to get their work done efficiently which includes harnessing AI automation.

How will we prepare Millennials to lead?
Millennials are advocating for a new leadership model. The directive leadership style that Baby Boomers and GenX experienced in their career progression is met with resistance. Instead, GenX leaders need to move from directive management to a coach approach to engage, retain, and develop their direct reports. Leader as Coach is a performance management model that asks questions instead of providing answers, focuses on strengths and provides guidance for employees to grow in their career beyond the role-based tasks. The model encourages frequent feedback, and connection to purpose and company culture.

How can we jumpstart leaders with a Learn-Coach-Do Model?
In addition to GenX leaders developing a coach approach, many companies are engaging Millennials in immersive programs designed to jumpstart a cohort of emerging leaders with strategic on-the-job assignments guided by coaches, and experiential learning to practice leadership essentials including constructive conflict, effective communication, and productive team dynamics. Synthology’s Emerging Leaders program is designed as a “learning in the flow of work” experience for high potential employees to practice skills with coaching guidance, and apply new ways of working in dynamic environments.
As we kick off 2024 strategic planning, forward-thinking companies are prioritizing accelerated “Learn- Coach-Do” models for a generation of Millennials on the verge of becoming the majority of the workforce and emerging leaders of our organizations. Is your organization set up for success?
Learn more about creating the workforce of the future at NCET’s Biz Bite on Jan. 24 from 11 a.m. – 1:00 p.m. at Reno Public Market. NCET is a member-supported nonprofit organization that produces educational and networking events to help people explore business and technology. More info at wwww.NCETbite.org.

Cristine Lipscomb believes that people and organizations are capable of wild ambitions when they are set up to succeed. She brings 25+ years of industry experience to the talent lifecycle from recruiting, onboarding, learning, and performance, to leadership and workforce planning.
Executive experience selling, designing, implementing enterprise talent management programs in the US and Europe. Track record of innovation and early adoption of tools and technologies from Extended Reality (XR) to Artificial Intelligence (AI).