Generation Y is reshaping the world. Let us take a look at the 10 ways Employee Evolution thinks Generation Y will will change the workplace:
1. We’ll reduce executive compensation for underperforming companies. Generation Y will not allow excessive executive compensation for sub-par performance. This was probably going to happen anyway with the transparency of Generation Y, but the fact that the recession highlighted this topic is icing on the cake.
2. Discussing salaries will be completely normal. Transparency will continue. As Gen Y continues to work our way up the ladder, their salaries and lifestyle will be transparent to their peers and coworkers similar to how transparent their lives are already on social networking sites.
3. Employees will be more loyal than ever before. While Generation Y notoriously jumped between employer to employer, once companies find out how to market their company’s culture to Generation Y, they will be some of their most loyal employees. Companies that adapt will be held with respect and pride.
4. There will be less mass layoffs, but more pay cuts. Generation Y is a team-based generation. They want to win or lose as a team. They will do what is necessary to survive as a team.
5. We’ll truly get over the “punch clock” mentality. By the time Gen Y is ready to retire, people won’t even know what a punch clock is. Work may still be demanding, the the hours will be flexible.
6. Independent contractors will become part of the team. Contractors are everywhere. They are cheap and experienced. As this trend of contracting continues, the lines between employees and contractors will fade, and everyone will be considered part of the team.
7. Corporate branding will work in conjunction with personal branding. Generation Y is all about lifestyle. Companies that adapt and re-brand themselves to market their culture will find themselves successful in the future… especially with the new technology and marketing ventures that Gen Y will pioneer.
8. Leadership will be a team effort. As a team-oriented group, Generation Y will not stand by and watch one person insert his will on the company. Generation Y will restore a democratic voice to business and politics.
9. We will really know people before we hire them. As Gen Y becomes responsible for hiring decisions, you can expect some innovation in employee checks before the job offer.
10. Entry level employees will be students and teachers. Right of passage is a thing of the past. As Gen Y grows up, cross-mentor programs will be instituted. Old will teach young and young will teach old. This will ensure a lifelong education rather than the Peter Principle of being promoted to your level of incompetence.
Read the full article here at Employee Evolution.