Higher required salaries might seem like a drain on company resources, but the investment will pay off. Relieved of financial stress -- and possibly the additional stress caused by the need for a second or even third job to make ends meet -- employees will become more engaged and productive, the TINYpulse report predicts.
10. Millennials will dominate workplace culture
Since millennials became the largest generation in the workforce this past year, they also will exert majority influence on company culture. This means that workplace values will shift to those prioritized by this generation, from collaboration to social responsibility and work-life integration, according to Niu.
11. The handoff from the old guard will be rocky
As the retirement of Baby Boomers accelerates, we'll see the transition to a workforce led by Generation X and millennials. Two out of the three jobs that will open up for college graduates will result from retirements, according to Georgetown's Center for Education and the Workforce. One major con predicted by the report, the loss of institutional knowledge as the old guard makes its exit. A major pro, a workforce that's less tethered to "the way things are" will toss out practices that are based on outdated assumptions, the TINYpulse survey predicts.
12. Younger employees will shift the definition of leadership
As baby boomers retire and younger employees fill supervisory roles, the nature of leadership will evolve. "Look to swing towards more collaborative and less hierarchical management best practices. With the workforce embracing personal accountability, this leadership style will have a great wealth of energy to tap into," Wang says.
13. There will be a greater push for transparency
Millennials have grown up with information being instantly accessible, and with constant and continuous feedback on their performance, so with their voice in the workplace increasing, you'll hear them pushing more for management transparency, too, TINYpulse predicts. "This will be a boon for young and old employees alike, since our data has shown that transparency from leadership has a high correlation with employee happiness," according to Niu.
14. More feedback processes will become two-way
With the workforce placing more and more importance on both collaboration from leadership and their own personal accountability, look for more feedback processes to become reciprocal. Performance reviews? Forget the one-way road; they'll become a loop -- or disappear altogether, according to Niu.
15. Those same feedback processes will become more frequent and critical
Collaboration and transparency can't happen without feedback. And feedback that comes late is nothing short of useless. Successful organizations will be those who take the pulse of employee issues -- monthly, weekly even daily -- instead of waiting to do it once a year. Faster information will mean faster reactions and better outcomes, envisages TINYpulse.
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