Understanding demographic trends in the workforce is imperative as many of us take our first step into the workplace this summer. We analyzed four demographic trends that are creating an increasingly diverse workforce: increase of women, increase of difference racial groups, the growing mismatch between workers’ educational attainment and occupational requirements and the large number of people in the work force that are aging. While we may not encounter all of these in our internships this summer it is important to be aware of them and their potential effect on the workplace and environment.
Women are encountering a glass ceiling
In recent years the glass ceiling for women has become less and less of an issue. In the most recent statistics women have just as much chance as their male peers of winning promotion to top management. Over the last ten years we have seen the most improvement, in 2001 just 30.7% of managers and senior officials were women now it is up to 35.5% which better reflects the full time workforce (which is 35.8% women). While it seems that the glass ceiling will soon be a barrier of the past, it is important to be aware of it, especially entering the workforce. This upcoming summer a good portion of the junior class will be stepping into their first workplace environment. Although the overall statistics support the notion that there is no longer a glass ceiling for women, in certain industries it still exists and there are people, coworkers, bosses that we will run into that have an old fashion way of thinking. It is important to be aware of demographic trends, such as the increase of women in the workplace, to better understand the workplace as a whole, whether you are an intern or full time employee.
http://www.thisismoney.co.uk/work/article.html?in_article_id=524480&in_page_id=53928
Racial Groups: Glass Ceiling and Discrimination
In 2008, the Population Reference Bureau did an extensive study on US labor force trends. They found that in 2005, the American workforce was compiled of 70% white non-Hispanic, 13% Hispanic, and 17% non-Hispanic. By year 2050, minorities are estimated to comprise 49% of the US labor force. This means that during our lifetime, the majority in which we are currently a part of, will become even with all other minorities in the workplace. It will be increasingly important for our generation to look at the labor force through an equal lens, knowing that talented workers can come from any race. Also, with the increasing amount of globalization of businesses, it will be important to foster relationships with people of differing backgrounds. Managers should welcome the opportunity to work with people of global races because it may give them a new perspective, or ability to work on the global scale more effectively. Companies also need to be cognizant of any glass ceilings in their company. It is not enough to simply employ a racial diverse workforce; we must be willing to give everyone equal opportunities at advancement, without any glass ceilings.
http://www.prb.org/pdf08/63.2uslabor.pdf
http://www.dol.gov/oasam/programs/history/reich/reports/ceiling.pdf
Mismatch Worker Education Attainment and Occupational Requirements
Over the past 30 years, education levels in the United States has waned significantly when compared to the rest of the world. Whereas the United States used to boast 30 percent of the world’s college population, that level has fallen to 14 percent in recent years. Recent studies have shown that American college graduates lack teamwork skills, critical thinking, and analytic reasoning when compared to the rest of the world. In addition, there is a shortage of graduates in the technical fields. In an increasingly global world, where technology and the Internet have lead to higher levels of interconnectedness than ever before, this has a number of implications for us heading into the work force. Not only are we competing against other college graduates from the United States, but college graduates from all over the planet. Its important to recognize and understand the mismatch between education and occupational requirements, as it directly affects the opportunities we will have both for internships and for jobs post-graduation. As the quality of American education continues to decline versus the rest of the world, it will mean more and more opportunities being outsourced overseas, alongside a number of other negative implications for future college-graduates.
Aging Workforce
It is evident that America’s workforce is getting progressively older. To many people the idea of an aging workforce is unknown; many believe the younger generations are taking over and starting new trends. Studies show that between 2010 and 2050 the population of 65 year olds and over will more than double while the population ranging from 18 to 24 will only increase by 21%. In addition it is calculated that by 2025 the portion of the workforce below 25 years old will actually decline by a percentage point to 8.9%. These statistics seems confusing to me as I am soon to join the workforce this summer. With many of my friends doing the same, applying for summer internships to major firms, I am blinded with the idea that my generation is taking over the workforce when we still only make up a very small portion and are not increasing as fast as other groups may be. I come to the conclusion that this is happening due to the increasing life expectancy. People are not retiring at the same age anymore. With an increasing life expectancy many people stay healthy and able to work for a longer period of time. Although the birth rate is also an increasing statistic, it is not as high as the increasing life expectancy. I look forward to experiencing the workforce this summer while at first I expected to work with many my age, it is clear that I will more than likely be surrounded by people much older than me.
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