The 21st century has brought about many changes, and in turn this has given birth to new challenges and thus fresh thinking. This cannot ring truer in the working world. Companies have become more reliable on technology and are starting to introduce the concept of a multi-generational workforce, which has created the need for new company practices. Because companies are operating in a world that is dynamic and ever-changing, they need to ensure that their practices and policies are up to date and are best suited for an equally dynamic workforce.
What made employees happy two decades ago, will not necessarily satisfy new age employees. This calls for a change in company’s approaches to HR, and as a modern-day employer and entrepreneur, you need to be aware of the HR trends that are taking the working world by storm.
- Millennials are no longer the newbies- make way for Generation Z!
For the past 10 years, the workplace has been dominated by Millennials (people who entered young adulthood around the year 2000). Employers had to accommodate employees who are more demanding of the companies they work for, more ambitious and much more creative. However, if employers thought Millennials were a pain, they have no idea what Gen Z has in store for them. It is time to welcome a more demanding, entrepreneurial, global, fast-paced workforce that is big on individuality.
- Culture and ethics get a revamp!
The past couple of years has seen a rise in many companies being involved in scandals that have brought their company ethics and integrity into question. Now more than ever, consumers don’t only expect good quality products, but also expect that a company’s daily operations are for the greater good of society. This had led to the demand that companies be more honest and transparent, and that employees become a representation of the company’s goodwill.
- Put your staff first, customers second.
For many years the motto in business has been “the consumer comes first”, but this notion is fast changing. Employers are encouraged to put the needs of their employees first as this will spill out into the satisfaction of customer’s needs and wants. Richard Branson said it himself “Clients do not come first. Employees come first. If you take care of your employees, they will take care of your clients.”
- Diversity and Inclusion
Fairness, equity and inclusion are currently hot topics in South Africa- as they should be. The public is calling for the companies they support to be more representative of them- diverse. Not only should the working world make room for a more racially, and generationally diverse crowd, but this should be the case for executive positions as well. In 2017, 80% of executives rate this trend as very important while 50% are admittedly not ready for it.