To help you successfully navigate 2018, we put together a CHRO trends report to cover the five most important trends for every CHRO in the coming year — and tips for leaders who are ready to take action.
Don’t forget to take a look back at each trend in our CHRO trends blog series.
TREND #5: FACING THE FUTURE OF WORK
Any CHRO knows that the demographics of the workplace are changing. Baby boomers are retiring to the tune of about 10,000 people a day and millennials now make up a majority of the workplace.
In 2018, a new generation of workers are starting to enter the workforce at a rapid rate. Generation Z (those born between 1995 and 2009) are beginning their journey into employment. Together with millennials, they are shifting the face of work.
Research from Monster.com shows that 74 percent of Gen Z said work should have a greater purpose than earning a salary, compared with 45 percent of millennials, 40 percent of Generation X and 33 percent of baby boomers.
Finding a balance between the needs of the current workforce and planning for the future is challenging.
While there may be stark contrasts between different experience levels inside organizations, there are common themes that unite everyone — like a sense of purpose and belonging at work, a supportive culture and support for employee well-being.
This year, CHROs have to bridge the divide and face the future of work head-on.
Here’s what you can do in 2018:
1. Build a culture that authentically supports employees
2. Offer a work environment that’s attractive for multiple generations
3. Build relationships with younger workforce entrants
4. Create a strategy that considers long-term talent goals and the needs of a new generation of people