Young people today do not remember a life before the internet or the mobile phone. They grew up in the age of instant, barrier-free global communication, and are keenly aware of the ways in which technology, in all its forms, has made their lives easier than the lives of previous generations.
They have a positive, optimistic view of the technology they use, and want to learn more about it. They also know their formal education is a solid foundation for their future careers but that in order to succeed in the workplace of tomorrow they need to adapt and learn on the job faster than any generation before them. They must be flexible and continue their learning far beyond the schoolyard.
According to an Infosys survey of 1,000 16-25 year-olds conducted in each of nine industrialised and developing nations, young people are realistic about their education and skills when starting a career in a chosen path. Yet 70 percent report being prepared to learn a whole new skill-set to get a job if necessary.
Young people today are not fazed by rapid transformation. In fact, many embrace the challenges this kind of new work environment will bring, even though they might be apprehensive about the way their educators and institutions have prepared them to face those challenges. And those with high skills and confidence are more likely to see learning a new skill as something that will also enrich their lives outside of the work environment.
Interestingly enough, business management studies and soft skills – such as effective communication, critical thinking, negotiation and persuasion – are also increasingly seen as integral for professional success. And the employers of the future must take a leading role in teaching these skills.
As young people who are starting their careers demand these skills, employers are called upon to rethink talent management models that have worked in the past but are no longer applicable in the 21st century. Employers must grab and hold on to their employees’ attention by keeping the work interesting, and fostering the natural curiosity of a younger generation.
In order to create an innovative workplace with room for creativity and offer positions of responsibility to those who aspire to it, businesses must work more efficiently and bring new technology and tools such as automation and artificial intelligence into the mix. Repetitive, mundane tasks can be done by technology, freeing humans to concentrate on more complex activities which require thought, creativity and imagination.
This leads to what could be called the “uberisation” of the future workplace – breaking down silos and filling the gaps in capacity when and where there is a need. With technology giving us the tools to be able to work remotely and allocate resources smartly where and when they are required, many of the barriers to this kind of company-internal “gig economy” have disappeared.
In most of the countries surveyed, more than 50 percent of young people say they prefer the stability of a large or medium-sized company where they perceive their chances of acquiring skills and training are greatest. Less than one in ten want to live with the volatility of a start-up but they yearn for the excitement and the adrenaline rush that comes with this kind of entrepreneurial venture.
The research findings also reveal that, to some degree, different skills and aptitudes influences the choice of employer or workplace. For example: Those who are interested in working for themselves show a stronger desire for wealth. Those who want to work for a start-up are also strongly motivated by wealth accumulation, but it is their need for creativity that dominates. Responsibility in the workplace is the strongest aspiration among those attracted to working for large corporations.
So what if innovative employers of the future could offer both? What if companies completely reinvented the way they manage talent thereby fulfilling both their needs and their employees’ expectations? Perhaps in finding courage to break down the borders of the established enterprise and build a bold new structure. This structure – a kind of talent ecosystem – could include partnerships with pioneering entrepreneurial ventures, in order to tap into the pool of creative risk-takers who would never have considered a traditional corporate career. And how about if a group of companies got together to share knowledge and talent across their network, filling in gaps and bringing in specialised skills wherever and whenever it is needed.
This kind of disruption in talent management models could give companies an infusion of fresh ideas and individuals the chance to work on numerous different short-term projects without job-hopping. It would be an innovative way to satisfy both the employer as well as to offer the employee an optimum employee experience. The idea that employees are captive audiences or even commodities is a relic from the past, and senior leadership at traditional enterprises would do well to rethink strategies and practices that foster this attitude.
Throughout history, young people have repeatedly proven they are open to change. This new generation is prepared to embrace the idea of lifelong learning and personal flexibility as long as their employers play their part too, namely, implement innovative ways in which to help them acquire the knowledge, skills and experience they will need to succeed during the fourth industrial revolution.
Holly Benson, Managing Partner, Infosys Consulting
