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Managing the Next Generation:Lessons from the U.S. Is There Something Really Different About Jobs Now? Yes. The notion of a secure, long-term career is harder to imagine. During the economic “boom” 49% still had downsizing AMA survey – 63 percent cutting in one division and expanding in another Economy turns fast – Employers expecting to hire 19% more college grads in Spring 2001 than in 2000. By Sept 2001, expecting to hire 20% fewer grads. It’s The New Deal at Work The End of Lifetime Commitments But Workers are not all Temps, Either! It’s an Open-Ended Arrangement, negotiated and based on the outside market Why does that matter? Is This Really New? That Depends on How Old You Are The Short History of Lifetime Employment Why We Moved Toward Careers Inside Companies It Wasn’t Always So Great. Remember The Organizational Man? What Caused the Change? Institutional Ownership and Shareholder Value: The Scott Paper Case Pressures from Markets: Speed and Variety The Third Wave of Corporate Restructuring New Management Techniques: Bringing the Market Inside the Firm Effects on Employee Management Employee Tenure: Down with employer: Up with occupation Dismissals quicker Training: Not rising Wages: Returns to seniority falling The Big Management Challenges Retention, Training Investments, Commitment How About Demographics? Are There Shortages of Skills? Or is the problem more complex? How About Technical and IT Skills? The “Cobweb” Model …What Else? Talent Management – the best really matter Jobs offer more scope for contributions Poor performers are demoralizing Performance Management – how can you tell who the best are If your best employee had an offer to leave at 2x the pay… Could you match it? How do you feel about forced rankings? Why are they popular? …Does the Next Generation Really Have Different Attitudes? What do they expect from jobs? Characteristics in First Employers*Please rate the importance of each of the following in choosing
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