Technological innovations are accelerating the rate of change in the labor force and will have a massive impact on the so-called “future of work.” Beyond conversations around globalization and the elimination of jobs via “machines,” there’s the immediate reality that Millennials have unseated Boomers as the largest generation in the U.S. workforce.
Millennials are the first generation of digital natives and they are are the first wave of workers to matriculate as part of the on-demand economy. For these reasons, human resources teams at corporations large and small face new challenge when it comes to attracting, developing and retaining top talent. Here are some reasons why.
Tech-savvy Millennials expect a different type of engagement
Back in the day, it was perfectly acceptable for a company to conduct once-a-year performance reviews. These were customarily used as a time for managers and team members to reflect on objectives and performance. But for Millennials who live in a 140-character world, the questionnaires were often lengthy and seen as a necessary evil.
To address these shifts, some organizations have adopted a more always-on approach to performance reviews. While annual reviews are still used to determine salary adjustments and promotions, more and more companies are relying on technology to capture feedback more quickly. For example, Butterfly provides a mobile experience that allows managers to keep tabs on employee happiness and engagement via 30-second “pulse” surveys, administered once a week. Teams at companies like Coca-Cola, Ogilvy, Ticketmaster and Citi – the last of which we paired via SwitchPitch – are using the platform to help young managers develop their soft skills.
Continue reading this article on the Switchpitch blog.