Next breed talent pool: How the trends are changing?
With the Silent Generation out of the business and the Baby Boomers retiring at an all-time high, the business world has come down to the shoulders of generation-x and millennials, and the largest workforce comprising of the generation-z. The digital age has brought about a revolution across industry verticals. The advent of the latest technology such as data science along with business innovations has changed the dynamics of businesses in across industries. The hiring trends for the next generation talent pool have also undergone a drastic change. New hiring trends demand advance skill sets in the employees along with the diverse knowledge of different industry verticals.
The post-millennial generation has shown a drift towards acquiring skill sets through self-drive and training. Self-drive has been the key motivator for the youth to nurture their skills in a comprehensive way. Globally, entrepreneurship and corporate empires both require skill sets to be developed with self-drive but its fraction is below the expectations in the current scenario. Though the quantum of training materials, online information, networking, and knowledge has nearly quadrupled over the last five years, the readership growth has stagnated as it was years ago. This can be addressed through leadership initiative such as offering promotions which can act as key motivator for the new generation to inculcate self-drive process of learning skills.
Now that the goal has been set, the course of action needs to be set as well. Today we have access to a wealth of information on any topic at the click of a button. This makes it imperative for the post-millennial generation to choose the right reading material from varied sources with a smart approach. Identifying and learning the techniques of knowledge management is the need of the hour to develop appropriate skill sets. For this, learners can either rely on training programs by experts or follow a smart strategy using self-drive approach.
Time is ripe for the new generation to show their acumen in deciding the perfect business domain for their growth and strategize to get the best out of it. Globalization has brought along its own set of disadvantages which has compelled the International geographies to tighten their regulatory processes. With this, the US may not be the only ‘land of opportunities’ anymore for IT professionals. The coming generation of tech experts should follow a diversified approach and imbibe themselves with multi-lingual capabilities. In coming days, local language bound countries will have a better growth prospect. The 21st-century world is witnessing a number of powerful emerging economies like Japan, India, Russia, China, Germany, Mexico, and Brazil. These fast-developing nations are making lucrative offers to the tech experts of the generation-z and the recent churning in the job preference of this new generation has strengthened the new trend even more.
What’s going to be more crucial for the post-millennial generation is the multitasking ability. The C-suite and the hiring team across organizations prefer multitaskers over others. The emergence of new technologies such as big data and AI in almost every business segment has also created the requirement for the new talent having expertise in their respective domains and deep understanding of these new business concepts.
Dynamic skill sets
Apart from the new demands in the hiring, the constant skill-set upgradation with training is one of the most integral requirements in the business world today. As per industry experts, the lifespan of skill-sets in today’s scenario is going to be five to seven years; hence the generation-z needs to focus more on short-term skill. The new C-suite will require the post-millennial generation to stay updated with the latest technology, advanced marketing tactics, varied knowledge base and additional capabilities.
The business world is growing fast and this warrants skill learning and knowledge programmes to leave the glacial pace and speed up with the current requirements. The digital age is completely dependent on the post-millennial generation entering the business world and they will be the ones to define the course of development in the coming future.