By 2020, Millennials (those born between about 1980 and 2000) are forecast to comprise half of the American workforce, and by 2025, 75 percent of the global workforce. Companies including Ernst & Young and Accenture have already reported that Millennials make up over two thirds of their entire employee base. As we say goodbye to the Baby Boomer generation, here’s how the emerging Millennial demographic will bring about changes to your office:
Reskilling
With job automation a growing subject of debate, almost all managers say they believe reskilling is important for employees. However, there is a generational divide on the best approach. While the vast majority of baby boomers feel the onus is on employers to reskill their staff, millennials and Gen Z-ers are more likely to proactively seek out self-development and training schemes.
Planning ahead
Younger generation managers are more likely than their elders to consider future workforce planning a top priority. Indeed, they are nearly two times more likely than baby boomers to have made progress in developing a flexible talent strategy as well as in investing in technology to support a remote workforce.
Remote working
Younger generation managers are more likely to embrace remote working, both for their employees and their staff. Three-quarters (74 percent) of millennial and Gen Z managers have team members who work a significant portion of their time remotely, versus 58 percent of baby boomers. By 2028, 73 percent of all teams are expected to have remote workers.
Embracing freelancers
Millennial managers are more than twice as likely as baby boomers to have increased their use of freelancers in the past few years, and are projected to continue increasing their usage going forward. That is due to the value they see in terms of productivity and cost efficiencies.
Source: cnbc.com / inc.com