Manufacturing growth has skyrocketed over the last few decades, but the industry continues to lag in growing its most important asset: its people. A spike in retirements, paired with a drop in analytical leaders entering the field, is creating demand for procurement and supply chain talent that far outpaces supply.
It would be far too simple to craft an “us versus them” story when it comes to different generations in the workforce today. For example, one could say older workers, like Baby Boomers, are outdated, and Generation Z, today’s youthful college graduates, are the tech-savvy heroes. Or perhaps the Boomers are experienced and hardworking while Gen Z are tech addicted and anti-social.
It’s always struck me as a somewhat interesting paradox that despite the fact that age, like race or gender, is a “protected class” when it comes to workplace discrimination, we continue to talk about “millennials” in offensive ways that are a blatent compliance violation.
Much is being made about the need to attract and retain millennial talent in today’s economy. Companies that are focused on long-term sustainability are intently focused on those entering the workforce now, as they need to fill the void that will undoubtedly be left by the mass exodus that will take place in the coming years with the Baby Boomers retiring. But are companies becoming a little too obsessed with the Generation Y (millennial) workers and neglecting those who are set to lead their organizations in the nearer term?
Commentators have long debated the extent to which ‘short-termism’ (the concentration on short-term objectives for immediate profits) in business impacts both individual organisations and the wider economy. According to recent research, however, companies deliver significantly improved results when leaders manage with long-term strategic goals in mind and resist pressure from investors to focus excessively on meeting short-term financial targets.
It’s the first thing millennials see in the morning, the last thing they look at before going to bed, and their constant companion throughout the day. It’s their phone. The younger generation’s dependency on mobile is driven by the considerable role technology plays in our everyday lives. With the touch of a button, these young men and women can do anything from ordering a car or depositing a check to sharing photos, videos and stories with friends and the public at large.