The Anatomy of The Hourly Workforce

A The Anatomy of THE HOURLY WORKFORCE HOURLY WORKERS work 59.1% 50% 30% of the US workforce is made up had little/no control over had to work overtime of workers on hourly wages. their work schedule with minimal notice Approximately 74 Million People! Letter of Resignation Poor treatment of hourly workers leads to high Replacing an hourly worker can cost upwards of 30% of that employee's annual salary 80% - 100% The retail industry has a absenteeism and turnover turnover rate of 80-100% GEN Y Characteristics Are more culturally and ethnically diverse 1. than previous generations Have higher expectations about career 2. progress and are more willing to switch jobs 3. Have a greater sense of social responsibility 4. Are more Tech Savvy 5. Do not use their career to define themselves 6 Identify more strongly with their work than their company GEN Y IN THE WORKPLACE 25% of the American workforce is Gen Y in 2013 75% of the American workforce will be Gen Y in 2025 91% of Gen Y employees expect to stay in a job for less than 3 years Avarage salary $44,600 $39,700 $35,400 Average income for workers 25 – 34 has fallen 8% Most Gen Y workers spend less than 2 years at their first job since 2007 Percentage of Gen Y workforce by company size LARGE MEDIUM SMALL 23% 30% 47% 1500+ employees 100-1500 employees <100 employees Most common Gen Y jobs are low-skilled Preferred sectors of work (with low median wage) Cell phone sales representative Merchandise Clothing sales representative Public Non-profit Private displayer Gen Y are more likely than other generations to consider relocation or commuting $23,400 $28,400 $27,800 55% 24% of Gen Y consider their current job Gen Y employees are dissatisfied at their current job just a step in their overall career Gen X Baby Boomers Gen X Baby Boomers 48% 35% 14% 18% JOHN DOE Most common Gen Y facebook titles Work as: 1. Server 2. Manager 3. Intern 4. Sales associate 5. Owner EMPLOYEE ENGAGEMENT 2011 Globally in 2011 The global rate of employee engagement was 58% 55% (65% in the US) 63% (60% in the US) would put extra effort into achieving business success of employees would consistently speak positively about their company 55% (68% in the US) had an intense desire to remain part of the company 29% in the US 15% NOT ENGAGED 52% in the US Companies with disengaged employees risk losing 6% of net profits 4% ACTIVELY DISENGAGED 88% 19% in the US Overall, employee engagement of workers consider "positive culture" an essential part of their dream job has decreased since 2009 EMPLOYEE ENGAGEMENT FOR GENY Global employee engagement is lowest among Gen Y 57% 59% 62% Gen Y Gen X Baby Boomers 61% in the US 62% in the US 64% in the US WHAT GEN Y WANTS What we want! 81% 80% 52% Flexible hours Immediate Career feedback progression 65% 22% 74% Personal Training Work development environment of young people would take a 15% pay cut to work at a company with shared values 58% 45% would take a 15% pay cut to work for a job Gen Y workers have a higher desire than previous that makes a social/environmental impact generations to contribute creatively to their company Gen Y employees want to work at companies who share their values SOURCES When I Work http://online.wsj.com/article/SB10001424052970204422404576597503016469330.html http://www.payscale.com/gen-y-at-work http://www.bloomberg.com/news/2012-12-21/american-dream-fades-for-generation-y-professionals.html http://www.forbes.com/sites/susanadams/2012/08/21/the-best-cities-for-gen-y-jobs/ http://www.forbes.com/sites/jeannemeister/2012/08/14/job-hopping-is-the-new-normal-for-millennials-three-ways-to-prevent-a-human-resource-nightmare/ http://netimpact.org/docs/publications-docs/Netlmpact_WhatWorkersWant2012.pdf http://www.aon.com/attachments/human-capital-consulting/2012_TrendslnGlobalEngagement_Final_v11.pdf http://visual.ly/gen-y-expectations-workplace http://thenextweb.com/insider/2012/01/25/generation-y-the-new-kind-of-workforce/ http://www.cio.com/article/697702/Gen_Y_Traits_in_the_Workplace_Unveiled http://www.nslw.org/generation_y.pdf http://onlinemba.unc.edu/mba-at-unc-blog/geny-in-the-workplace/ http://www.staffingdaily.com/employment-traits-gen-y-vs-gen-x-vs-baby-boomers-infographic/ http://payments.intuit.com/millennials-job-market/ http://www.gallup.com/poll/150383/majority-american-workers-not-engaged-jobs.aspx