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Technology is changing the way we work. As a result, tools, processes and people expectations have also seen a significant transformation. This has created both exciting opportunities as well as host of challenges. However, to thrive in today's highly-dynamic business landscape, it is important to embrace the change.
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Technology has changed how we work and quickened the pace of business. For individuals, it means having instant access to infinite amounts of information and being connected 24/7 – anytime, anywhere. For businesses, data and analytics have dramatically improved efficiencies and allowed operations to become increasingly agile, which are all necessary to thrive in today’s economy.
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Bad managers—we’ve all had them. From the manager who micromanages every tiny detail, down to the amount of copy paper used (true story!) to the manager who reacts defensively to new suggestions or belittles individual contributions, many of us have worked for some “interesting” leaders.
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Investing in your team is perhaps the single most valuable thing you can do to improve the quality of their performance, no matter what line of business you’re in. As the New Radicals proclaimed, “You only get what you give.”
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Tech employees may be well-pampered, but are hardly loyal, by and large. According to LinkedIn research, most companies that are perennial "best places to work" like Facebook, Google and Salesforce still can't "perk" their way to employee loyalty beyond a mere 2-3 years, on average.
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Since 2006, PayScale has been producing the PayScale Index, which tracks quarterly and annual trends in compensation. Admittedly, the PayScale Index hasn’t shown a lot of fluctuation over the last few years, mostly due to the fact that America has been experiencing its best economy since the great recession in 2008 with a historically low level of unemployment.
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Time to boost the basic benefits package as companies are competing for top talent to entice prospective employees and keep current employees through desirable office features.
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Engaging top talent can be challenging, especially when it comes to those generations newest to the world of work. According to a recent Allegis Group survey, 51 percent of HR professionals are concerned about their ability to recruit and retain Millennials (born 1980-1995), and 45 percent share similar concerns about Gen Zs (born after 1995). Likewise, 62 percent of HR decision-makers believe issues with attracting workers of these generations could negatively affect company growth, productivity, execution on business goals, company innovation and hiring cycle costs.
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If you look around your organization, you will be sure to notice what wonderful employees’ millennials are. They bring energy that radiates up through your company and offer fresh new perspectives. They know what is happening in the marketplace. If you are a boomer-aged executive like I am and don’t know the difference between Snapchat and Instagram, one of the younger millennials on your team can probably pull out a phone and show you in a less than a minute.
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