The millennial age
Erickson’s list takes into account the latest generation to enter the workforce, the millennials. She notes that millennials want enough: enough time, enough flexibility and of course enough money. And as one of our crowd-solving participants said, millennials value a voice over a secure paycheck. They want to be able to make a difference, to have their ideas heard and accepted. To them, titles mean nothing; it’s about what you are good at.
As Erickson puts it, if you ask millennials whether they’d like to do a boring job for a couple of years, they’ll say no, thanks. Organizations need to adjust to the fact that millennials are passionate about things for three months.
Loyalty in the gig economy
As described, millennials seem ideally suited to a gig economy. Hiring people by the project makes good economic sense for organizations as well, but there is one pressing challenge: there’s no inherent loyalty on either side of a gig economy transaction. Work culture matters to millennials. But how can organizations incorporate gig employees into that culture?
A company led by one of our crowd-solving participants is working hard to build a relationship with its favorite gig employees. The organization has identified a pool of about 70 it wants to continue working with; it sends them the company newsletter, keeps them up to date on the latest changes, and is rewarded when they say yes to the next project request.
Intriguing approaches, but no easy answers
The future of work and the workforce of the future — how to attract it, train it and retain it — formed a major theme at the World Entrepreneur Of The Year Forum, with entrepreneurs and executives of high-growth companies engaging in discussions that crossed sessions, borders and industries.
Clearly, there are no easy answers, just as there is no “one-size-fits-all” approach. But the attendees, especially those taking part in our crowd-solving sessions, showed they were addressing the challenge with exceptional creativity and energy. Perhaps it’s time to add to the list of certainties in an uncertain time: Where there’s a challenge, entrepreneurs will find a way to meet it.