In 2020, the workplace, as we know it, will have changed. Whether we call them Millennials, Generation Y, or just the Next Great Generation, in a few years time, they will have a significant impact on your workplace. They will be a significant part of your workplace.
These employees do not expect to change the world on their own time, they expect to do it during office hours. They want to make a profit without compromising on their personal values. To them, it is business AND personal.
“You don’t have to choose between doing good and doing well, it’s a false choice, today more than ever.” (Tim Cook)
So whether you are a CEO, a business leader or manager – have you considered the four P’s of you workplace? Are you ready to attract, retain and engage the future workforce?
It is ‘buyers’ market. Talent will be hard to come by. This means that companies more than ever before have to consider their People Strategy. What is your core competence, how do you train for it, how do you recruit for it? Do you have a talent pipeline for your core engineers and your key specialists? Where and how will you source the resources necessary? When they are on board, how will you retain them? Can your company offer the flexibility, freedom, responsibilities, ambitious goals and opportunity to make a difference that these talents crave for?
Making a profit has been the focal point of every business since the beginning of time. However, for the first time in a long time, how you make a profit (and quite possibly, how you choose to use that profit), will be a deciding factor for the future success of your business.
What is the Passion of your business? What is the deep and driving essence? What is your WHY? If you cannot answer that questions for your future job applicants, chances are they will not be all that into your business. Knowing your why is core to employees, who do not come to work simply to pick up a paycheck.
Is your business sustainable? Do you actively consider how to reduce or eliminate your carbon footprint? Are you taking your environmental responsibilities seriously? (And I don’t mean in some meaningless CSR report that nobody read or cared about – I mean serious action and daily behaviours that indicate that your company respects Mother Earth!)
If you haven’t already, I recommend you start considering the Four P’s of your organization. Especially, if you hope to be a successful business in 2020 with an agenda of growth and (disruptive?) innovation.
Personally, I cannot wait for the Next Great Generation to impact my workplace. But are we really ready for them?
(This post was originally published on LinkedIn on May 18, 2015)