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What the Future of Human Capital Looks Like

Deloitte released the results of its 2016 Annual Human Capital Trends Survey and the revelations were all too familiar. As it turns out, government employees are facing almost the same challenges as our private sector counterparts. Here were some of the highlights.

The private sector is also concerned about demographics.

From the report: “Millennials now make up more than half the workforce, and they bring high expectations for a rewarding, purposeful work experience, constant learning and development opportunities, and dynamic career progression. At the same time, Baby Boomers working into their 70s and 80s are being challenged to adapt to new roles as mentors, coaches, and often subordinates to junior colleagues.”

There have been hundreds of blog posts and articles about generations in the government workforce over the past few years and OPM covers the topic as part of last year’s REDI workforce roadmap. This is happening everywhere.

We may soon be facing more technological change at work. 

Technologies such as mobile devices, 3D printing, sensors, cognitive computing, and the Internet of Things are changing the way companies design, manufacture, and deliver almost every product and service, while digital disruption and social networking have changed the way organizations hire, manage, and support people.”

While the private sector embraced technological change, government remained mostly in the dark ages. The resistance to change however is slowly crumbling, therefore expect to see the same technologies now impacting corporate life appear in government offices over the next 5-10 years.

Career paths are changing for everyone, but faster in the private sector.

The days when a majority of workers could expect to spend a career moving up the ladder at one company are over. Young people anticipate working for many employers and demand an enriching experience at every stage. This leads to expectations for rapid career growth, a compelling and flexible workplace, and a sense of mission and purpose at work.”

Government employees stay longer in their jobs, nearly twice as long according to the Bureau of Labor Statistics, but that is shortening, especially as the public sector workforce gets younger. As people move around and as their expectations change, will government professional development programs keep up? The private sector is struggling, with half of executives surveyed saying their companies aren’t ready to meet leadership needs.

Employee engagement matters everywhere.

Human Capital Trends

Top 10 Trends (Courtesy of Deloitte University Press)

“Last year, ‘culture and engagement’ ranked as the most important issue overall. This year…both [culture and engagement] placed near the top of the importance list, with 86 percent citing culture as an important or very important issue.”

Just as it was on the Federal Employee Viewpoint Survey, the private sector employees also felt that employee engagement within the workplace was important and will remain relevant for years to come. As such, the younger employees in both private and public sectors will be playing a crucial role in shaping a new work culture for the future.

This article was written by Joseph Maltby.

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