5 Changes Millennials Already Expect In The Workplace4 min read

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The workforce has already evolved significantly overtime and it wont stop anytime soon. Some of the changes we are likely to see in the future include a change in corporate structure, the improvement and use of technology, monitoring and a change in Australia’s retirement age. It is important for companies to understand the changes and embrace them to remain successful.

1. Corporate lattice over corporate ladder.

The corporate ladder was popular during the industrial revolution, when successful businesses were built on structure, standardisation and economies of scale. The world has now shifted from an industrial age to a digital age and thus require a new model. With constant technological improvements coupled with increasing diversity in the workforce, there is a demand for more flexible and collaborative working conditions. Cathy Benko, vice-chairman of Deloitte estimates that over the past 25 years, companies have ‘flattened out’ by about 25%, decreasing the levels of management and adopting a more ‘lattice’ approach. This grid-like structure allows ideas and creativity to run horizontally, vertically and diagonally. This new model encourages growth and ensures relevance through different roles and experiences to tap into new networks and acquire a number of transferrable skills.

The corporate ladder was popular during the industrial revolution, when successful businesses were built on structure, standardisation and economies of scale.

2. Artificial Intelligence 

In recent years, automated services have become a norm in society including self-checkouts, e-tags and many manufacturing processes. Whilst we have become accustomed to these ideas and often expecting of them, they are replacing a number of jobs and, in some cases, careers. These innovations not only increase productivity and convenience but they also do not need remuneration or work rights. A.I is likely to become more prominent in the future of the workforce.

3. The Human Cloud

The human cloud is a global pool of freelance workers, available to work on demand on a large range of digital tasks. A ‘requester’ invites the freelancers to bid for the task through an online platform. These services allow companies access a large number of willing talent without the need of a recruitment process. Additionally, it provides them with a cheap alternative to a full time employee as they are only required to pay for each task and do not need to provide overheads, paid leave or sick days. Whilst the benefits are high for employers, it diminishes the number of available jobs for employees.

The human cloud is a global pool of freelance workers, available to work on demand on a large range of digital tasks. A ‘requester’ invites the freelancers to bid for the task through an online platform. These services allow companies access a large number of willing talent without the need of a recruitment process.

4. Monitoring of employees

With the increase in technology, it has made it easier for employers to monitor their employees; where they are, what they are doing and how they are feeling. Current technologies such as GPS systems, online trackers and feedback tools are used to assess performance, progress and whereabouts of each employee. In the future we are likely to see monitoring of personal health and wellbeing through improvements in wearable technology. We have already seen the start of this through the fitbit, monitoring exercise, sleep and other health information. This type of technology is likely to help improve the health and wellbeing of employees allowing employers to see what impacts your performance at working including lack of sleep, anxiety and stress levels.

We have already seen the start of this through the fitbit, monitoring exercise, sleep and other health information. This type of technology is likely to help improve the health and wellbeing of employees

5. Rising Retirement age

As the life expectancy continues to rise, people are expecting to work for longer to maximise their retirement savings. The average retirement age currently stands at 64.5 for women and 65 for men and is expected to rise. Trends are beginning to emerge showing that the average worker prefers to gradually stop working as opposed to suddenly stopping upon reaching retirement age.

These five changes are likely to have an impact on the way companies are managed and their current business models. Understanding and preparing for these changes gives managers the best opportunity for success.