Millennials: Challenges and opportunities that come with the new workforce
While CVs and the paper-heavy recruitment practices that come with them have all but faded into obscurity, the rapid changes brought on by digital transformation make the days of lengthy employment processes feel like aeons ago. But transformation isn’t reserved only for the way people find work: incumbent processes, procedures and cultures within the workplace are also being questioned in the wake of a hyper-connected world and a new workforce with a vastly different set of expectations, skill-sets and cultures than that of their predecessors.
Depending on how you perceive them, these sweeping changes can hold either risk or reward for your business and in this blog, we’ll take a look at how companies can bring the next-generation employee into the fold and learn a thing or two from them about what it means to run a successful business in the digital age.
Challenge: Meeting the demands of
Older generations of employees were content to start their careers at the bottom of the ladder and work their way up. While this had merits in terms of learning the intricacies of a particular career, the return on time and resource investment simply doesn’t appeal to a new generation that values inclusion and investment in their capabilities.
This doesn’t mean that millennials are shy of a hard day’s work, but that they are far more concerned with adding value to organisations than spending time in the mailroom as a rite of passage. Businesses with rigid structures a start at the bottom culture are at risk of missing out on huge talent if they maintain a speak unless spoken to mentality.
Opportunity: Millennials are ready to make an impact. Leverage it.
This assertive new workforce may seem a tad too demanding for their own good, but employers who embrace the millennial worldview stand to gain considerably from it. For example, millennials offer senior employees new insights to improving upon existing processes that may be in need of a revamp. People often get stuck in doing things for the sake of doing them while deriving little benefit.
The new generation hardly thinks in this way and are in a position to identify new and more efficient ways of doing things and offer businesses the introspection they need to make the necessary changes within the company to remain relevant.
Challenge: Tech isn’t going anywhere, but your business might
According to Fast Company, “When it comes to technology and social media—or marketing, design, and customer experience—the person with the most innovative idea in the room may happen to be the youngest.” This makes sense when you think about how ingrained technology has become in virtually everything humans do. Senior staff may be holding on to familiar tools and processes, but this won’t serve the long-term objectives of any company. Change is inevitable, and adoption is key to survival.
Opportunity: A tech-savvy workforce can help your business stay relevant
Younger employees can influence senior staff to embrace digital transformation and aid companies who suffer from dear-in-headlights syndrome, to emerge as a relevant player in a hyper-connected age. This is evident in the fact that millennials are starting up new businesses at a staggering rate while many older companies struggle to position themselves in this new and fast-changing era. The Kodak example comes to mind here: a multi-billion dollar company that enjoyed massive market share but failed to heed the warnings of sweeping change at its peril.
The Kodak example is a textbook lesson in the importance of adapting to change and should give modern business leaders pause for thought when engaging the younger workforce and also make a concerted effort to understand the value they hold in building a business that speaks to the demands of today.
At InteriMarket, we’re at the forefront of change. With years of experience in Human Resource and Talent Management, we understand the challenges of an ever-changing market. That’s why we built a platform that speaks to the needs of the workforce of tomorrow. Register now and get access to some of the most sought-after interim gig opportunities on the UK market.