Technology is creating opportunities for new forms of collaboration, changing not only where we work from, but how we work, and who we work with. The way companies do business with other companies and people in different time zones demands flexibility and agility. No one group grasps this concept more than ‘Generation Y’.
This group are the first regiment who have grown up within a connected world of social platforms and sophisticated devices-these Gen Y’ers are intimately connected to a new online ecosystem. The social habits and behaviours of this generation differ substantially from generations before them. They are accustomed to rapid change, this generation will vent their frustration when confronted with the inflexibility of traditional businesses, or the inertia of a job that lacks upward mobility. A survey by Cisco reported that 45% of Gen Y employees would accept a lower paying job if it provided more flexibility (A future of work report, 2012).
Business needs to to listen to the expectations of Generation Y as they make up approximately 50% of the current workforce. This number will continue to grow and then make way for Gen Z, which will expect more ‘virtual working’, greater collaborative space and increased flexibility in working hours/location. By encompassing their expectations business will stay competitive in the global marketplace and help prevent a further talent drain in the UK.