Digital technology has had an enormous impact on businesses, not only with regards to how companies are engaging with their customers but also in terms of their hiring needs. Indeed, many firms are trying to attract young tech-savvy millennials who possess the skills and enthusiasm to help bolster their ability to compete in an ever-changing digital business environment.
Millennials expect to work in communities of mutual interest and passion.
Changing expectations in the workplace
It is estimated that millennials (Generation Y) will comprise about 40 per cent of the Australian workforce by 2020, according to McCrindle research. Born in the 80s or 90s, this generation has benefited from being exposed to new technology from a young age and has now entered the workforce in large numbers. As a result, they are already transforming traditional business structures.
In a recent report by PwC, Vineet Nayar, vice chairman and CEO of HCL Technologies, said that millennials expect to work in communities of mutual interest and passion, not structured hierarchies, for example.
"Consequently, people management strategies will have to change so that they look more like Facebook and less like the pyramid structures we are used to," said Mr Nayar.
Companies need to look at how to integrate appropriate digital technology, systems and processes to meet the demands of current and future workforce expectations. According to PwC, 59 per cent of millennials say it is important for their employer to be using the latest technology – the majority believing it will make them more effective in their jobs.
Often, potential job candidates' first impression of a company is their interaction with its HR department. Given the changing nature of the workforce in the coming years, it could very well be that the hiring function of an organisation will play a pivotal role in successfully competing for young talent.
Digital technology has certainly been embraced within the HR departments of many organisations.
HR and digital technology in action
Digital technology has certainly been embraced within the HR departments of many organisations. According to Human Resources Online, the Singapore Land Authority (SLA) has integrated digital platforms to attract new graduates and enhance their engagement once on board.
SLA HR Director Er Chye Har says the SLA believes people are the most important asset and a highly-engaged workforce has a direct impact on the productivity and performance levels of an organisation.
"With the entry of the millennials into the workforce, we have to manage a diverse workforce of four generations of employees in the same workplace today," Er explained.
"We recognise embracing digital technologies is absolutely necessary to help employees stay engaged and productive."
Contact Flexi Personnel's HR Consultants to find out more about how digital technology can transform your business to attract skilled tech-savvy candidates.