By the year 2020 there will be more Millennials in the workforce than any other generation. As Millennials have never known a non-digital world, they demand greater connectivity and flexibility in the workplace. With this brings a new set of challenges to the workforce and causes a significant change in the way businesses function and engage their employees.
At Future Knowledge we regularly hear from business leaders who are unprepared for the changes Millennials will bring to the workforce. We recongise the need for businesses to prepare now for this change to attract the best top talent, engage their employees and maintain productivity.
This is why we have provided the top three ways businesses can prepare for workforce 2020.
Greater workforce flexibility
By 2020, the new generation will have a perspective of the working landscape that is centred on what they can offer an employer – not necessarily what an employer can offer them, which was the viewpoint of previous generations.
We will also see a shift towards greater flexibility in regards to employment. A world where employees invoice businesses rather than earn a salary. And where the best and brightest will showcase their body of work in a portfolio, not a CV.
Greater personalisation in the workplace
Savvy businesses are realising the new wave of workers expect a level of understanding and personalisation. This means executives need to plan how their businesses can take a similar approach to data collecting giants, such as Amazon and Facebook, to work out what drives and excites Millennials and supports them to work to their full potential.
Destroy the ‘Sunday/Monday’ crisis
The Sunday/Monday crisis is a motivation killer for Millennials. It refers to the dread they have for using extremely outdated technology during the week at work. Businesses then need to put in place an ongoing people and technology strategy so the tools available to Millennials match the intuitive, easy to operate devices they use on a personal level.
We strongly recommend that businesses act now and prepare for the influx of Millennials in the workplace to attract, retain and engage the cream of the Millennial crop. From our analysis into this trend, we predict businesses that aren’t prepared for this change, will find it harder to compete in an already ruthless market place.