Guess Who's Coming to Dinner: Federal Disaster Relief for ...
Guess Who’s Coming to Dinner
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Transcript of Guess Who’s Coming to Dinner
Guess Who’s Coming to Dinner^
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The Demographic Time-Bomb
Jeffrey B. CatrettDean, Ecole hôtelière de Lausanne
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 ?
Some Statistics
Source: Economist
Some Statistics
Source: Economist
Some Statistics
40’s 50’s 60’s 70’s 80’s
- $
Some Statistics
Facing Near-Permanent Workforce Shortages
Some StatisticsPopulation Distribution
Asia Europe / Ex USSR
Africa
Latin AmericaNorth
AmericaOceania
Source: WTO
Some Statistics
Outsourced
Insourced
Hospitality Globalization
7 %37 %
Source: US Dept. of Labor
Some Statistics
49% of Unemployed in US Unemployed > 10 Years
Source: US Dept. of Labor
An Inherent Problem Analyzing Generations
Life
Stage
G e n e r a t i o n
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
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
The Emerging Generation 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 nowSource: Research conducted by the Caterer & Hotelkeeper, Chess Partnerships and EHL
The War for TalentThe Old Reality
People need companiesMachines, capital, and geography
are the competitive advantageBetter talent makes some
differenceJobs are scarceEmployees are loyal and jobs are
securePeople accept the standard package
they are offered
The New RealityCompanies need peopleTalented people are the
competitive advantageBetter talent makes a huge
differenceTalented people are scarcePeople are mobile and their
commitment is short termPeople demand much more
Source: Michaels, Handfield-Jones, Axelrod, The War for Talent
Can Hospitality Meet the Needs of the Emerging (Smaller) Generations ?
How Will We Address the Issues ?
IM Profitability
ProcessHR Practice