TDA Conference 2007 - A Vision for 2020: The Changing Workplace

Slide1TDA Conference  2007 TDA  Conference  2007 Organisational Development for 2020 APESMA John Vines Chief Executive Association of Professional Engineers, Scientists & Managers, Australia

Slide2A VISION  FOR  2020 A  VISION  FOR  2020 The Changing Workplace • Focus on asset utilisation and balance sheet management • Workplace flexibility driven by structural reform • Industrial, rule driven logic dominates • Removing the barriers for women The Changing World The Changing Mindset Retirement disappears New generation of old workers Three generations in the workforce • Steadily shortening working life • Baby Boomers dominate workforce > > The New Labour Market China and India emerge as massive economies Offshoring takes off, whole economy affected • 1997 crash puts Asia on back burner • Emergence of low cost economies The New Global Economic Order > > Focus on human optimisation Workplace flexibility becomes key to attracting and retaining staff People and creativity logic emerges Taking accountability for outcomes for women People, Flexibility, Creativity > > > > The Expert Steward • Obsession with shareholder value • 'Cult' of the CEO • Generalists dominate • Dramatic remuneration increases Serving all stakeholders 'Cult' of the top team Experts dominate Managing substantial personal wealth > > > > > Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide3THE NEW  WORKING  LIFE  PROFILE THE  NEW  WORKING  LIFE  PROFILE Working Life 2000 2020 Income Age Pension Income Age 40-45 years working 15-20 years retired 25-30 years working 25-30 years still working Working Life Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide4THREE GENERATIONS  IN  THE WORKFORCE THREE  GENERATIONS  IN  THE WORKFORCE  Idealistic  Highly social  Largely traditional views of corporate loyalty  IT a learned language, for some  Transactionally motivated  Expect to change jobs for career advancement  Naturally collegiate  Early adopters, IT literate  Entrepreneurial aspirations  Expect success  Strong social conscience  IT fluent, native speakers  Attributes and Concerns 2005  Age Range:  2020  Over 60  39 - 59  23 - 39  44 - 60  24 - 44  Age Range:  2005  Under 24  Flower Power  prolonged good times  1946 - 1961  Baby Boomers  The ‘greed is good’ 80s  1961 - 1981  ‘X’  The Dot Com boom and bust  Defining Experience  1981 - 1997  Born  Generation  ‘Y’  Possible Attributes and Concerns 2020  Phasing down work commitment, but not retiring in the traditional sense  Potentially continuing to dominate executive and board ranks  Moving into senior management ranks  Inclusive management styles  Challenged in managing multi generational workforce  Entrepreneurial focus  Self managed careers and lifestyles  Some ‘let down’ as working life fails to meet high expectations Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide5EXECUTIVES' CURRENT  ASSET MANAGEMENT  FOCUS EXECUTIVES'  CURRENT  ASSET MANAGEMENT  FOCUS Physical Assets Finances People In the next decade, executives will need to pay more attention to the management of this key asset Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide6TRANSITION IN  LEADERSHIP  PROFILE TRANSITION  IN  LEADERSHIP  PROFILE • Deep knowledge of the business • Single company career • General management skills, rather than deep expertise • Moves between companies and industries • High order communication and collegiate management skills • Deep industry or subject expertise • Holds senior role for substantial period Job For Life Cross Industry Hire Leader Expert Overall Skill Level 1950  1980 2000 2005 2020 Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide7EXECUTIVE DEVELOPMENT  NEEDS EXECUTIVE  DEVELOPMENT  NEEDS • The Changing World The Landscape • Three generations in the workplace • Longer, later working life Business Impacts • Generation-specific leadership and management skills • Career planning beyond 50 Executive Development Needs • The Changing Workplace • The Changing Mindset • Workplace flexibility • People businesses • Talent optimisation • Serving all stakeholders • Top team focus • Personal expertise matters • Personal wealth • Managing flexible environments • Managing people businesses • Optimising people's performance individually and in teams • Understanding, aligning and balancing stakeholder needs • Leading teams • Building and maintaining personal expertise • Wealth/work and life choices Intellectual property resides with The Boston Consulting Group, Inc. 2006 © Innovation & Business Skills Australia Ltd 2006

Slide8Further IBSA  Initiatives Further  IBSA  Initiatives  Graduate Certificate and Diploma of Organisational Learning & Capability Development (Endorsed by NQC in August 2007)  Search Conference on Innovation (June 2007)  Further research on Management/ Leadership related issues  www.ibsa.org.au