Employers find themselves facing a complex conundrum. They can no longer afford to offer employees the types of benefits they once did, while for the first time there are five different generations in the workforce — from Baby Boomers through to Millennials — all with different expectations, desires and needs. In short, organisations need to transform their approach to talent to keep pace with the fast-changing environment in which they are operating.
Specifically, organisations need to refocus their talent strategies to deal with Millennials (those born between 1980 and 2000) who by 2020 will make up the majority of the global workforce. Millennials (sometimes referred to as Generation Y) are proving to be both a
positive and disruptive new addition to the workforce. They differ from other generations in that they are seeking continuous, always on and in-the-moment learning, with exciting and stretching challenges to ‘have a go at’ to succeed.