The world of business is changing. Gone are the days of 9-to-5, cube farms and water cooler chit chat. Okay, maybe not entirely; however, companies need to recognize that younger generations are looking for more than just a job. It’s no longer enough to promise a steady paycheck, health insurance and a few days of paid time off each year.
People want to be able to connect with their employer’s values and feel like they are part of a community. They want growth opportunities and regular feedback, acknowledgement of a job well done as well as areas for improvement. Employees want to be given the freedom to create in spaces that foster innovation and forward thinking. They want to be inspired.
In order to maximize growth potential, businesses need to focus on hiring the best talent and hiring the best talent requires an in-depth analysis of company culture. This is not a new concept, but expectations are shifting along with the rising percentage of millennials and the entrance of Generation Z into the workforce.
The startup mentality with its remote work, daily team lunches, free beer and office dogs is reshaping the way employees view the professional culture and life in general. The balance between work life and personal life is becoming increasingly important but significantly less mutually exclusive.
Why Is It Changing Now?
Entering a new decade affords businesses with the perfect opportunity to evaluate current culture trends and update company values to align with transitioning expectations. Change is hard and it certainly doesn’t happen overnight, but even taking small steps by initiating conversations and reviewing existing policies can demonstrate an ambition to improve company culture.
Office spaces are becoming more open and engaging. Offering non-traditional perks, such as gym memberships or passes for public transportation, are more prevalent. Communicating with team members and seeking to understand what might make their work experience more enjoyable can result in higher employee satisfaction and improved output which can directly impact customer relationships and loyalty.
How Are Jobs Created?
A large part of the population is aging out of the labor force and the new entrants have considerably different ideals regarding where and how they want to contribute to society. Understanding these dissimilarities and making concessions to appeal to an alternate demographic will go a long way toward enticing and keeping top talent.
Younger candidates vying for job openings are requiring organizations to make necessary changes to increase their attractiveness to prospective employees; not to mention to retain existing talent from pursuing opportunities elsewhere.
What Else Is Technology Changing?
The world is well on the way to embracing job flexibility and the ongoing evolution of technology is making it easier than ever to stay connected. As long as you have access to a reliable internet connection, many jobs can be done from anywhere in the world. From an office in New York City to a beach off the coast of Thailand, a wide variety of platforms and programs make access to colleagues and resources instantaneous and available day or night.
Accepting this changing environment and the virtual culture can broaden the pool of available candidates thus forcing a shift in the corporate dynamic. Many business leaders are beginning to recognize the importance of diversity and varying cultural perspectives in the workplace. New ideas and thought processes can enhance the effectiveness of an organization and result in business growth.
In the day and age of distributed teams and unlimited vacation, it’s difficult to stay competitive but crucial to an organization’s success. Solving issues with employee retention or new talent acquisition may not be a simple task but embracing new culture trends that align with a new generation of worker’s values and adapting to modern technologies can have a tremendous effect. Not everything has to change all at once, but things do need to change. Business leaders are quickly recognizing that the old way of doing things is exactly that, the old way. Don’t get left behind.