Working In The Generations
LM Aero Diversity Office

ONE OF THE MOST CHALLENGING ISSUES FACING LOCKHEED MARTIN AND MANY CORPORATIONS IS HOW TO ATTRACT AND RETAIN TALENTED EMPLOYEES TO ENSURE A SOLID FUTURE.

According to a yearlong study by McKinsey & Company, a leading business consulting firm in the U.S., human capital will soon be the resource in the shortest supply. How this situation materialized and what we must do to minimize the impact to our business is significantly tied to our ability to create a more inclusive work environment, where all employees can contribute fully, drawing upon their different perspectives, life experiences and abilities.

The changing face of U.S. workers

Over the past 50 years America has changed. How that change has and will continue to materialize is impacting Lockheed Martin and every other company in the U.S. The ability of our company to embrace a diverse workforce – not only people from different ethnic backgrounds and genders, but also people with different ways of working and learning – will have a tremendous influence on how successful we will be in attracting and retaining the most talented people.

The U.S. labor market has contracted and expanded alternately over the last 50 years. There has been an increase in racial and ethnic diversity. The number of women joining the workforce has jumped dramatically.

In nearly every way, the demographic makeup of the U.S. workforce changed significantly in the last half of
the 20th century.

One significant change was revealed through what the Department of Labor calls labor force participation. That change shows a rapid growth of women in the job market.

The 21st century workforce

The 21st century is here and businesses across America are challenged to manage the needs of a changing society. There are now four generations in the workplace, more women in the workplace, and a substantial growth of minorities in the labor market.

Right now, Baby Boomers are 78 million strong, and Gen Xers represent a much smaller percentage of the population at 46 million. Generation Y, or the Millennials, are the youngest generation and are expected to exceed 70 million as they enter the workforce. In fact, by 2025 the Millennial generation is expected to make up 60 to 75 percent of the workforce.

To further complicate the issues of filling the talent pipeline, industries needing engineering and science majors are competing for an even smaller number of available candidates to fill the vacancies created by the number of retiring workers. However, many of those new engineering and science hires will be women, and there will be greater percentages of minorities.

A 2008 BusinessWeek article projected that by 2010, the U.S. would need 20 percent more engineers, while the growth rate in the number of engineering, math and science graduates is only expected to grow about 2 percent.

Facing the challenge head-on

The challenge for Aeronautics and other U.S. businesses is real, but it may be difficult for many employees to see. Recruiters and managers attempting to hire new employees are competing for the country's most talented graduates and are the first to recognize that the talent pool has changed.

Knowing this, businesses cannot afford to be complacent, even in this bad economy.

The challenge today and into the future is how to create a work environment where new faces, new perspectives and new ways of working provide an attractive environment conducive to the 21st century worker.

So how might Aeronautics be different going forward? What will it take to attract and retain the best and the brightest from a diminishing and much more diverse talent pool?

A Gallup study shows that talented diverse workers across industries and the demographic distinctions have similar things about their workplace environment that cause them to be engaged or to disengage from their jobs.

Things that create engagement

• Engaged managers and supervisors
• Positive co-worker relationships
• Adequate and up-to-date resources
• Trust and fair treatment by upper management
• Opportunities to learn and grow
• Clear expectations about work requirements
• Competitive compensation, reward and recognition
• Contemporary work culture and environment

Things that create disengagement

• Prejudice and discrimination for arbitrary reasons
• Poor career development opportunities
• Poor work environment or climate
• Low organizational savvy on the people issues
• Pressure to conform or assimilate
• Disengaged managers and supervisors

As the worker evolves, so do the needs.

Some of the most recent studies conducted by the Hidden Brain Drain Task Force, a group of 50 multinational corporations committed to global talent innovation, found that, as many Baby Boomers plan to delay their retirement, Generation Y is moving into the workplace.

Ironically, research indicates they share many of the same attitudes regarding work, one being the preference for flexible working arrangements.

Companies may be confronted with how to change the work environment in significant ways considering the size of these two groups and the flexibility in work styles they will desire.

If we are to maintain our competitive edge, our focus will have to be on identifying and finding ways to satisfy the needs of a new workforce.

As each of us acknowledges the need to change and contributes to being more open, accepting and respectful of our many dimensions of diversity, Aeronautics will be the company of choice for many years to come.

< Back to News List | Next News Article >

Back to Top