Trends Shaping Tomorrow's - World Future Society

• There are approximately 50 million
people in Europe between the
ages of 15 and 24; 30 million more
are between 25 and 29. The under-30
cohort represents about 22% of the
European population.
• Members of the millennial generation,
now in their 20s, have more
in common with their peers elsewhere
than with their parents’ generation.
Their values and concerns
are remarkably uniform throughout
the world.
• The under-20 cohort is remaining
in school longer and taking longer
to enter the workforce than before.
• The millennial generation is
proving to be even more businessoriented
than their Gen X predecessors,
caring for little but the bottom
line. Twice as many say they would
prefer to own a business rather than
be a top executive. Five times more
would prefer to own a business
rather than hold a key position in
politics or government.
• Many in Generation X were economically
conservative even before
they experienced the 2008–2009 recession.
On average, those who can
do so begin saving much earlier in
life than their parents did in order to
protect themselves against unexpreparing
them for college or a rewarding
career.
■
Two-income couples are becoming
the norm in most of
the industrialized lands, though in
the United States the trend toward
greater employment among women
is slowing.
• The percentage of working-age
women who are employed or are actively
looking for work has grown
steadily throughout the industrialized
world.
• In the United States, it has
grown from 46% in 1970 to about
66%, compared with 77% of men.
• In Japan, a majority of households
have included two earners
since at least 1980.
• The lowest fractions are found
in Italy and Spain, with just 44% and
49% of working-age women employed,
respectively, according to the
Organization for Economic Cooperation
and Development.
• In 2007, about 71% of American
mothers worked or were actively
looking for work, down from a peak
of 80% four years earlier.
• The number of working mothers
with young children has declined in
the last few years, but the dip is extremely
small.
Assessment and Implications: In
the industrialized nations, this trend
has just about played out, as the
number of two-income households
has begun to stabilize. However, it
will be a growing force in India and
other industrializing lands for many
years to come.
This emphasis on work is one big
reason the richest 25% to 50% of the
U.S. population has reached zero
population growth. They have no
time for children and little interest in
having large families.
Demand for on-the-job child care,
extended parental leave, and other
family-oriented benefits can only
grow. In the long run, this could
erode the profitability of some U.S.
companies, unless it is matched by
an equal growth in productivity.
Two-career couples can afford to
eat out often, take frequent short vacations,
and buy new cars and other
such goods. And they feel they deserve
whatever time-savers and out-
48 THE FUTURIST May-June 2010
right luxuries they can afford. This is
quickly expanding the market for
consumer goods and services, travel,
and leisure activities.
This also promotes self-employment
and entrepreneurialism, as one
family member ’s salary can tide
them over while the other works to
establish a new business.
Expect to see many families that
usually have two incomes, but have
frequent intervals in which one
member takes a sabbatical or goes
back to school to prepare for another
career. As information technologies
render former occupations obsolete,
this will become the new norm.
Work and Labor
Force Trends
■
The millennial generation and
their younger siblings will
have major effects in the future.
pected adversity. They made money
in the stock market boom of the
1990s, then lost it in the “dot-bomb”
contraction, but have left their
money in the market. For Generation
X and the millennials, time is still on
their side.
Assessment and Implications: In
values, cultural norms, political issues,
and many other ways, this
change of generations will be every
bit as transforming as the transition
from the World War II generation to
the baby boomers.
Employers will have to adjust virtually
all of their policies and practices
to the values of these new and
different generations, including finding
new ways to motivate and reward
them. The millennials thrive on
challenge, opportunity, and training—whatever
will best prepare
them for their next career move.
Cash is just the beginning of what
they expect.
For these generations, lifelong
learning is nothing new; it’s just the
way life is. Companies that can provide
diverse, cutting-edge training
will have a strong recruiting advantage
over competitors that offer
fewer opportunities to improve
workers’ skills and knowledge base.
Millennials are well equipped for
work in a high-tech world, but have
little interest in their employers’
needs. They have a powerful urge to
do things their own way.
As both customers and employees,
they will demand even more advanced
telecommunications and Internet-based
transactions.
■
Specialization continues to
spread throughout industry
and the professions.
• For doctors, lawyers, engineers,
and other professionals, the size of
the body of knowledge required to
excel in any one area precludes excellence
across all areas.
• The same principle applies to artisans.
Witness the rise of post-andbeam
homebuilders, old-house restorers,
automobile electronics
technicians, and mechanics trained
to work on only one brand of car.
• Modern information-based organizations
depend on teams of taskfocused
specialists.