CEO Today - October 2023

To tackle the problem, companies must rethink their approach to work. It’s time to reinvigorate the workplace as global firms welcome the new generations who seemingly will not tolerate what has gone before. There are seven rules to follow. The seven rules First, enable personal development. GenZ are used to being able to access new content and learn daily. Learning for them needs to be instant and on-demand, always. Learning Experience Platforms such as Degreed, Symfni and Thrive have enabled by the growth of instant learning, providing the user with holistic learning content from inside and outside the company. The employee takes control of their learning, supported, in many cases, by AI, which will recommend content based on needs. In addition to the vast number of digital tools available to support learning, companies must create a learning mindset culture. Second, recognise employees and make them feel valued. A recent Gallup poll stated that younger generations want more recognition than their older peers. Gen Z employees and younger millennials are 73% more likely to say they want recognition at least a few times a month when compared to baby boomers. In contrast, Generation X and baby-boomer employees are more likely to say they never want recognition when compared to Gen Z and millennials. Of course, one size does not fit all, so it is vital to understand each individual’s specific needs. Third, develop people first, inclusive leadership. As more disruptions transpire and the fast pace of change gains momentum, leaders no longer can have all the answers. They need to be adaptable, have high learning agility and be able to collaborate to navigate to the future. Firms must reimagine the role of the leader so they can bring out the best in everyone, irrespective of who they are. This rethinking means selecting, developing and promoting the right leaders who put people at the core of what they do. Fourth, offer flexible work. According to a January 2022 LinkedIn survey, Gen Z (72%) is the generation most likely to have either left or considered leaving a job because their employer did not offer a flexible work policy. But flexible working is not just about where employees work. Some employers enable their people to work four days a week and spend the fifth following a passion or outside interest. This approach can help motivate employees in their four days at work and help enable retention. Fifth, embed career development and opportunities. Gen Z wants clarity around career paths. A recent Amazon report found that 74% of Gen Z/Millennials say a lack of

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