Shifting Workforce Demographics

A new generation of employees entering the workforce brings a very different set of expectations in terms of available technology, communication styles, compensations plans, available benefits, and advancement opportunities.  Striking a balance between new and existing employees will require agility and flexibility.

In addition to acquiring new skills and raising the overall profile of human capital, companies must deal with new opportunities and challenges brought about by the country's changing demographic makeup and trends within the distribution industry itself.  Some specific trends to consider are:

• The graying of the workforce.  As an increasing number of knowledgeable and seasoned employees near retirement age, distributors face the potential loss of valuable relationships, product knowledge, and market insights.
• Managing a new generation of employees. A new generation of employees entering the workforce brings a very different set of expectations in terms of available technology, communication styles, compensations plans, available benefits, and advancement opportunities.  Striking a balance between new and existing employees will require agility and flexibility.
• New kinds of workers.  A growing number of ex-service personnel (from the Army, Navy, Air Force, and so on) are entering or re-entering the workforce--bringing with them unique leadership, teamwork, and management skills as well as insights about critical areas such as logistics, communications, information technology and collaboration.
• Gender dynamics. More women are entering the distribution workforce--assuming leadership roles and bringing a new dynamic to what was traditionally a male dominated industry.
• Ownership and management succession at many distributors.  This is exacerbated by the limited interest of some second-and third- generation owners to assume the responsibility of running the family business (especially after an exceptionally challenging economic environment and an extended period of uncertainty ahead.)

ACTION POINT: Understand the challenges and embrace the opportunities you are facing with the workforce of today.