We live in a world where disruptive innovation is the new norm, and business is almost exclusively digital. The rise of Saas startups, cloud services, and social media has breathed life into a new digital era.
Organizations and companies have realized the need to utilize digital clouds, mobile devices, social media, and analytics. This paradigm shift has created the need to redefine how we engage, attain, and retain our staff.
Organizations that fail to adapt are at risk of having difficulty in acquiring and retaining younger employees in this digital age.
In the past, employees were focused on finding the right company for them, which was heavily dependent on which company offered the best pension. Today, many companies do not offer pensions, and 401K’s are the new norm. Older generations view switching companies as detrimental to one’s career, but the new norm is that millennials change jobs four times by age 32. According to CNN Money, “the Great Recession may have also played a role [in frequent job change] as college grads struggled to get any job, let alone the job they wanted”.
In order to be successful in modern business, it is important to stay engaged and have an open dialogue with your rapidly changing workforce. Many young workers do not fear change and tend to struggle when faced with experienced staff who are typically less accepting of change and new ideas.
Millennials are changing how organizations are managed, and if these changes are not taken in stride, companies may have a harder time staying competitive and lucrative. Young workers are not looking to work in an environment full of cubicles and old coffee machines, they are looking for a modern workplace. A workplace with a relaxed dress code, open-concept work areas and a fancy Keurig with a team-focused setting.