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Guess Who’s Coming to Dinner

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  1. Guess Who’s Coming to Dinner Not ^ The Demographic Time-Bomb Jeffrey B. Catrett Dean, Ecole hôtelière de Lausanne

  2. The Generations • War Generation • Born ca. 1920 - 1945 • Post-WWII Baby Boomers • Born ca. 1946-1963 • Generation X (Baby Busters) • Born ca. 1964 - 1980 • Generation Y (Baby Boom Echo) • Born ca. 1981 - ... • Europe = app. 4 years later ?

  3. Some Statistics Source: Economist

  4. Some Statistics Source: Economist

  5. 40’s 50’s 60’s 70’s 80’s Some Statistics - $

  6. Some Statistics Facing Near-Permanent Workforce Shortages

  7. Some Statistics Source: WTO

  8. Outsourced Insourced Some Statistics 37 % 7 % Source: US Dept. of Labor Hospitality Globalization

  9. Some Statistics 49% of Unemployed in US Unemployed > 10 Years Source: US Dept. of Labor

  10. An Inherent Problem Analyzing Generations Life Stage     G e n e r a t i o n

  11. Baby Boomers as Workers • Idealistic; believe in working their way up • Relatively loyal; slow to change • Interested in benefits, including travel benefits, although other benefits more important • Moving from formality to comfort because of advancing age; still ambitious; finance and marketing savvy • Some indications of a yearning for earlier idealism • Hold positions in hierarchy and therefore trust in it Source: Compiled Observations, EHL Degree Dissertation: Tony Chen

  12. Generation X as Workers • Distrustful • Opportunistic / disloyal • Interested in free time and money more than position and travel, meals, etc. : seeking work / life balance • Informal, comfortable, with a short attention span; technologically savvy but childish • Power and hierarchy leave them unimpressed Source: Compiled Observations, EHL Degree Dissertation: Tony Chen

  13. The EmergingGeneration Y • Young and still developing; very little spending power, very hard to generalize • Possess some of their parent’s early idealism – “retro” • Share work / life balance issues with Gen. X • Even greater identity and recognition issues than Gen. X : interested in position and advancement more than Gen. X • Much of the same impatience as Gen. X, but somewhat more confident • Coming of age during an economic recession: more willing to accept economic realities than Gen. X for now Source: Research conducted by the Caterer & Hotelkeeper, Chess Partnerships and EHL

  14. The Old Reality People need companies Machines, capital, and geography are the competitive advantage Better talent makes some difference Jobs are scarce Employees are loyal and jobs are secure People accept the standard package they are offered The New Reality Companies need people Talented people are the competitive advantage Better talent makes a huge difference Talented people are scarce People are mobile and their commitment is short term People demand much more The War for Talent Source: Michaels, Handfield-Jones, Axelrod, The War for Talent

  15. Can Hospitality Meet the Needs of the Emerging (Smaller) Generations ?

  16. IM Profitability Process HR Practice How Will We Address the Issues ?