The workforce is changing, and the workplace is changing along with it. Mobile, social and cloud computing technologies are impacting both our personal and professional lives and redefining workplace expectations and models of productivity. At the same time, the talent pool is changing. There is a new generation that is flooding workforce with different values, expectations and perspectives—the Millennials.
This new world of work presents both difficult challenges and game-changing opportunities for businesses. In order to obtain the best talent, an empowered workforce and a winning position in the marketplace, organizations must embrace the new paradigm and the trends that are driving it.
Demographics are shifting. The Millennial Generation will soon outweigh Baby Boomers in the workforce. In fact, by 2025, 75% of the workforce will be millennials. They are being called “the next greatest generation” and they are entering the workforce with unique expectations for their careers, as well as fresh ideas and new ways of working.
The demand for greater mobility and collaboration is rising. With more smartphones than people in the world, we are more connected than ever before. Employees expect mobility in the workplace and they demand the greater collaboration across corporate and geographic boundaries that comes with it. Mobile devices and collaboration are seen as essential to their productivity.
There is a global competition for talent. The marketplace is global and so is the talent market. This means that even companies with only local or regional operations now go head-to-head with international competitors. But that also means an opportunity to source talent from all over the world.
As the workforce changes, the challenge for businesses is to find new ways to engage, connect and empower their employees, their most valuable asset. An engaged workforce will drive innovation, revenue, growth and ultimately a company’s future success. Unlocking the potential of this new workforce isn’t just a competitive advantage—it is an imperative.