Today’s hyper-connected world fundamentally changes how people engage with each other. Digital, social and mobile spheres are quickly converging – connecting customers, employees and partners to organizations and to each other. As a result, employees are beginning to be empowered as part of open, less rigidly controlled organizations.i
The demographics of the workforce are also changing. According to the U.S. Census Bureau, by the end of 2013,ii 47 percent of U.S. employees will be those born after 1977.
Since members of the millennial generation will soon bear responsibility for moving organizations toward successful outcomes, it is important to understand their particular capabilities, expectations and needs. It is also important to anticipate opportunities to capitalize on the differing perspectives that will emerge from divergent but overlapping generational viewpoints.iii
For example, today’s workers do not expect to retire in their current organizations. According to a Mercer study, the number of employees who were "seriously considering leaving" their employers grew from 23 percent in 2005 to 32 percent in 2010.iv Potentially, an entire workforce could turn over in three years, significantly draining an organization of its knowledge base.
Increasing Skills leads to Staff Retention
To reduce defections, improve engagement and capitalize on collective intelligence to build skills, organizations must adapt their systems and policies to reflect the needs of the changing workforce. Social technologies can provide significant benefits in the area of learning and skills development and solve the growing skills crisis organizations face. According to McKinsey, the use of social technologies can reduce the time that employees spend searching for information by 35 percent.v
Download this white paper to learn how a social learning program can improve employee engagement, reduce attrition and decrease the amount of time employees waste searching for information.
i Connected Generation, Perspectives from tomorrow’s leaders in a digital world, Insights from the 2012 IBM Global Student Study, IBM Institute for Business Value, November 2012
ii US Census Bureau, www.census.gov
iii Connected Generation, Perspectives from tomorrow’s leaders in a digital world, Insights from the 2012 IBM Global Student Study, IBM Institute for Business Value, November 2012
iv Mercer What’s Working™ Survey, Mercer LLC, October 2011
v McKinsey Global Institute Report, The Social Economy: Unlocking Value and Productivity Through Social Technologies, July 2012