Are you getting your company ready for the new generation of workers?
It wasn’t too long ago when the “millennial” generation was not a popular subject for discussion in the boardroom. However, with millennials becoming the biggest generation in the U.S. workforce — 75.4 million, according to Pew Research— there has been a noticeable change in how companies engage with the new generation of workers.
A very recent example is Goldman Sachs. They have discovered something important about their new generation of employees: they want more feedback on how they’re doing, and more time one-on-one. For this reason, Goldman Sachs is adopting new feedback practices to focus further on growth and development; like emphasis on qualitative feedback, and a 360-degree feedback approach. If you’re not familiar with this style of feedback, here is an interesting article by Harvard Business Review that explains how to get 360 reviews right.
Besides the one-on-one attention that the newer generation of workers prefer, there are other aspects of work that are impacted by their new way of doing things, such as information and knowledge sharing.
Sharing is the Key
The millennial workforce likes transparency. Adopting a transparent, and fully collaborative workplace sets the perfect scenario for sharing information. The newer generations (coming soon to your company, Generation Z) like to share where they are, what they do, and what they know, and expect the same communication style in return. When the newer generation of workers face the way companies handle knowledge and information — in silos, repositories, static databases — they are unable to produce the best possible results, and might even fail to adapt altogether.
Instead of pushing back, and resisting what it’s now a reality of the workplace, companies should adapt and cater to this new work style. Because adapting pays off. At the end of the day, if you look to increase productivity, more efficiency, more sales, increased ROI — you should be ready to adapt to the changes, including how your company shares and finds information and answers to everyday questions.
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