PKF Texas – Entrepreneur’s Playbook®:The Blended Workforce

by | Mar 5, 2010 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website. 

It’s a pretty fair assessment that the US population will be getting older.   So when we talk about the Blended Workforce, we need to set a baseline of understanding:

Blended workforce. With the US population getting older, the Gen X and Millennials find that they have to work with the Boomers. And, (let’s keep this between us) they will be financial responsible for us.  Now for a young man of 52, I find that quite interesting.  I hope the young people are ready to take care of me and my fellow Boomers.   At present, the ratio of US workers to pensioners is about 6:1.  In Europe is 4:1.  By 2025 Europe will be at 2:1. 

Blended work styles.  With young and old working together you will find challenges in the workplace whereby the younger generation will be multi-tasking, enjoying personal time and taking care of an ever growing older group of parents and relatives.  Thus challenging them like they never expected.

Blended world.  As the world shrinks more and more of us are ever dependent upon other workers from other parts of the world to complete our jobs.  It’s pretty routine for me to have conversations with European or Asian counterparts on a regular basis about business here in Houston.

Recent studies estimate that there are 42 million independent workers in the US.  This is about 31percent of the workforce.

So what does all this mean?

In the US it means major changes for the young folks of the working world.  And major changes are in store for business owners in the next 25 years.   Shortages of talent, math/science personnel, technical personnel, accountants, etc.  are coming and fast.  Talent challenges will be the norm and where will you find the workers?  Workers will become more virtual and they may indeed become part of outsourcing relationships due shortages in talent and expertise.  

The best way to take advantage of such talent is by using technology to ensure collaboration, communication and support of virtual workers.  If you are not looking at technologies that embrace this success, don’t be surprised if your competition leaves you behind.  It’s time to adopt a strategy for the future and shore up those gaps.

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