Companies need to update their work culture for strategies to work

Companies need to update their work culture for strategies to work

Strategy Development Weekly Reflections

A global change in the meaning and meaningfulness is at the horizon and as people are getting more connected, they are getting much more access to opportunities and thus have a far more freedom to chose who they what for and what that work represents. It is also imperative that employees in a company no longer accept where they are put at and these companies need to realign how they manage their resources to sustain their workforce and continue being an attractive option for them to work for.

There are many forces that are leading to this change in the supply of talent including the attitude of a young workforce towards the work they do and the fulfilment they seek from their work. The millennials are already passing on their entrant positions to the generation Z who is also being called as the culture creators. These are the people who would be constituting the major part of the workforce for the next few years which would be the most crucial times for most companies as they try to survive this shift in economies. For most companies that have taken over the position of the most valuable companies in the world, the same people are their target group of primary users. In the near future, these companies would not only be driving for but also be driven by Generation Z. 

Always connected to their peers via various social networks, this young population is hugely influenced by each other. And the many ever increasing influencers want to project a lifestyle where they are working on stuff that they are passionate about and something that they can own. They also want to project a lifestyle where they travel and explore the world while making a living out of what interests them. They want to be known as people who care for social change and are creating something meaningful that could benefit someone or that someone could learn from directly. Collaborating with each other is also a major trend where people leverage each other's talents and skills to create awesome stuff together.

Companies can use this knowledge to create work opportunities that would leverage the skills of these youngsters while providing them with the sense of accomplishment that they seek. Most companies align their operational plans with their strategies and hope to achieve milestones that take them to their goals. When employees are the fundamental units in an organisation, it is important to understand the direction they want to go so the whole organisation moves as a whole together towards the same goal. There are many different ways for companies to create an environment for young employees so they can both benefit each other. The most effective way for companies is to give ownership of projects to youngsters so they can fuel their entrepreneurship to be successful at accomplishing the task. The companies also need to give them the freedom to work in their own style at their own space and pace so they are able to maintain the work-life balance that they want and are not feeling constrained by their responsibilities in doing someone else's work. While many companies are opting the model of renting their employees on contract rather than employing them into full-time positions, this is helping them to rotate talent among projects so the pace of innovation doesn't slow down, the talent is also happy in this arrangement because they don't get bored of the work they are doing and are able to showcase a variety of projects which also helps them explore and pursue the kind of career they want to have. However, there is a gap in knowledge in such an arrangement, with the continuously rotating workforce, it is a challenge to manage knowledge resources and transfer knowledge to the new team. Some companies have adopted a structure where the key knowledge managers are more permanent and they are responsible for allocating tasks within the team using the young ones as resources.

This change in the work environment is new in all industries and a common challenge for Human Resources Managers everywhere. It is also a challenge and responsibility for career planners to discover talent and show them the right direction.

References

1. Bhalla, Vikram, et al. “Twelve Forces That Will Radically Change How Organizations Work: The New New Way of Working.” Https://Www.bcg.com, 27 Mar. 2017, www.bcg.com/en-us/publications/2017/people-organization-strategy-twelve-forces-radically-change-organizations-work.aspx.