If someone had told me 10 years ago that all of my corporate emails would now be searchable and searchable by anyone in the company, I would have eaten my Blackberry. Fast forward to today and we have Slack, a tool the next generation can’t live without that has made just about all business correspondence public and searchable within a company – and just had it. ‘one of the largest stock market debut in recent memory.
Nowadays, the generational gap in the workplace seems more marked than ever. The average age in the suite C is 54, and CEOs and CFOs are aging on average. Meanwhile, millennials have made up the majority of the American workforce. since 2016. Apparently wider than the age gap is the cultural gap. A generation that remembers Betamax will soon be sitting across the boardroom (or video chat) of a near-born generation connected to Wi-Fi.
What does all of this mean for the modern workplace? Here are my predictions for some of the most significant changes the next generation will catalyze in businesses across the country and the world – and some ideas on how to make sure your businesses are ahead of that change and not. relegated to the past.
Social networks, UGC and hiring
Today, it’s a standard operating procedure to set your Facebook to private or to strategically clear your Instagram feed while you’re in the workforce, and the majority of Gen Xers and Gen Xers Older millennials have undoubtedly spent quite a bit of time managing their social media footprint all at once. one way or another.
But what if your whole life was out there in video form, on Instagram or TikTok, from the age of 10 – which is now the average age of children in the United States get their first phone. Further still, a quarter of children under 6 have their own device. Generation Z also likes to create – 25% of Gen Z Post Original Video on a weekly basis.
Will employers always review all of this? And above all, should they be?
Prediction: this content will be an asset, not a handicap.
Businesses will need to find advanced ways to eliminate really problematic red flags through social media, perhaps using artificial intelligence and machine learning. But smart employers (and applicants) will find that they can learn a lot about a prospect, their personality, and their skills through online personas. This will add an interesting vector to the search for talent, and savvy job seekers will find that the social media of the future can indeed be a portfolio or showcase of their previous talents, skills and work. The above article also notes that Gen Z is overwhelmingly saying they consider creative exploration and expression important. I suspect that employers will appreciate this more and more as well.
Benefits and compensation
In a relatively short span of time, Gen Z has begun to usher in a completely different level of comfort with what is private or public in their personal and professional lives.
Conversely, for most businesses and traditional companies, openness in compensation and benefits has not been a priority. In fact, obfuscation is often part of the strategy. But more and more, the younger generations may not accept this.
Today, Beqom reports that almost two thirds Gen Z and Millennials want transparency about their CEO salaries. The younger generations are also much more likely to share their own salary information. Children of the information age have duly learned that knowledge is power and are ready to face the consequences. The corporate culture must prepare for this change.
Prediction: Absolute transparency regarding compensation and benefits will become an expectation of employees.
Companies will have to become ârealâ when it comes to compensation. The prevailing pressure for companies to find concrete and concrete solutions for diversity and inclusion also plays into this prediction: hiding inequalities in the fine print of bonus structures will no longer be an acceptable practice. This future will also require a thorough review of compensation and benefit structures at all levels of the company.
Unfortunately, this will be a painful process for many, and the only way to prepare is to start working towards a compensation structure that you are proud of as a business leader. A few companies are ahead of the game. For example, Amortizethe whole company adheres to a well-thought-out, fully public pay structure – seriously. Anyone can see their entire business wages.
Payroll and payment expectations
My daughter recently started her first âadultâ job. After her very first day, when I called to see how it had gone, I found that she was a little puzzled. She had enthusiastically checked her bank account and had seen no increase. After a long laugh and a short explanation, I actually decided that his wait made a lot of sense. Gen Z’s primary form of money transfer has been instant. Half of Generation Z and nearly three-quarters of millennials have a money or payment app on their phone. Banking no longer involves banks and any waiting period seems arbitrary.
Prediction: The boom in the odd-job economy will change the nature of work and pay.
Combine the expectation of instant gratification with the ubiquity of smart devices – and make a huge change in the way people find, keep and change jobs. The result is an irreversible change in the way we work, before reconciling the effects that automation and artificial intelligence will have on the entire work landscape.
Large employers like Pizza Hut are already experimenting with instant payment, and it’s easy to imagine a future where developers, product managers, HR staff or accountants can easily move from company to company on a project basis – or even work at different paces within a company in a way that has never been possible. Platformization continues to terraform the job market and provide more and more short-term options.
So we’re looking at a new world of content, a growing demand for transparency, and a completely new expectation of how work – and payment works. The change will come, and quickly. Is your business ready?