In our last two blogs about Millennials, we introduced this digitally native generation, and explained how they are the force behind the modern digital workplace. We also talked about a digital workplace and the various benefits it offers. However, no discussion on Millennials and digital workplaces will be complete without understanding a couple of things – firstly why Millennials want digitalisation in their workplace; and secondly how a company can create a digital workplace to retain its millennial employees. In this blog, we will be talking about these two aspects.
Who are Millennials?
Are you 20-35 years old i.e. born between 1980 and 1994 (some stretch this to year 2000)? Well, if you are, then you might already know that you belong to a generation with a very distinct identity - you are a ‘millennial’. Various other names have been given to this generation – some are cool like Generation Y (because they follow the Generation X born between 1965-1979) and other unflattering ones like Echo Boomers, Gen Next, and of course Facebookers and MySpacers.
When it comes to technology adoption and innovation, it might be intuitive to think that the private sector is a clear leader compared to public organisations and governments. In reality, most private organisations lack long-time vision and adequate risk appetite, claims economist Mariana Mazzucato in her book ‘The Entrepreneurial State’. According to Mariana, despite popular belief, the most innovative countries have their governments leading from the front as opposed to the private sector. She also observes that the private sector starts investing in innovation and advanced technology only after an “entrepreneurial state” has made the initial high-risk investments and paved the way for success.