The ultimate connectivity has changed the way we work and the way we view workplace. The new world of work is not in the future, it's already here and it's shaping the workforce in various angles. How to adopt to these changes?
There are two paths to follow. One is to hold on to the old, which might lead to stagnation. The other path is to adjust and make changes. Neither one is a guaranteed road to success nor a definite recipe for failure. But whenever tackling with difficult choices, a fresh change in perspective will help you move forward.
To help you move forward in 2015, we have gathered some trends we see emerging in the modern workplace. Whether you're leading a large team in a huge corporation or a small start-up, you're forced to move at the speed of life. It'll pay off to anticipate the future in order to change quickly and successfully.
10 trends that will shape your team management in 2015:
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Millennials will take the lead
2015 means adopting to the generational differences. Millennials will become the largest percentage of the workforce in the U.S. This means more millennials will be taking leadership roles. According to study commissioned by Elance-oDesk & Millennial Branding, 27% of millennials are already managers, 5% are in senior management, 2% are executives. In 10 years 47% want to be managers, 7% want to be executives and 15% want to be business owners.
In a situation, where great amount of jobs remain unfilled, many millennials struggle to find their fit. Businesses are having a hard time hiring and integrating these young professionals in their everyday functions. Yet organisations need to adapt to these tech-savvy people in order to keep innovating and stay competitive. Offer millennials more autonomy and flexibility whenever possible.
With the increasing number of millennials entering workforce, prepare yourself for job-hopping. On average, millennials are staying 2 years at a company before leaving. During next year, 32% of employers expect this kind of job-hopping. Employees are more likely to stay if they’re surrounded by like-minded people. Invest time to create an amazing company culture to improve the situation.
Work with freelancers
In 2015 prepare to work more with freelancers. In the U.S. alone 53 million people are freelancing. That’s 34 percent of the entire workforce and millions more will likely follow. For companies it might be a great news. Hiring temp workers is cheaper, provides flexibility and access to specific skills. All this thanks to technology. 69% of freelancers say that technology has made it easy to find freelance work. So, make use of social technology to seize this opportunity and integrate them to your everyday workflow.
Team management moves to mobile
Next year, the business app industry will take up speed. Everything moves to mobile, even team management. For quite some time, mobile industry has revolutionized how people live, now also how they work. 62% of employees claim that mobile access to team information is essential for productivity. 38% say the use of mobile devices reduces the time it takes to do the job by an average of 30 minutes.
Partly because of the hectic lifestyle of constantly moving around and partly due to the need to be connected with the world, mobile apps are a great way to keep an eye on your workforce wherever you are. Moving team management into mobile gives you the opportunity to consume information when its suitable for you. Whether standing in a long line at the local coffee shop or flying from one meeting to another.
Annual performance reviews will loose its importance
Continues feedback will be in the focus of attention. You'll see less annual performance reviews. Perhaps it's time to ditch them altogether. According to Globoforce survey, 92% of performance reviews take place annually, semi-annually or are never even scheduled in the first place. Yet it’s often the only channel of feedback. Nonetheless, 65% of employees state they need and want more feedback. Managers are self-critical about it themselves, openly admitting not providing enough of it.
With a clear positive correlation between higher level of motivation and timely accurate feedback, more managers will seek ways to give effective continuous feedback. Experiment with Weekdone to get insights into your team and keep an eye on your employees’ progress on a weekly base. It's an efficient way to provide timely feedback right on your employees weekly reports.
More emphasize on goal alignment
In 2015 we'll see a growth in companies experimenting with the OKR, Objectives and Key Results. As people are putting more emphasis on linking personal plans and growth with group goals, the OKR is a great technique for goal alignment. The new generation of tools help managers set goals, connect these with personal, team and company objectives and track their progress. The technique is already used all across Google. It has also helped LinkedIn propel to a $20 billion company.
Welcome visual dashboards
As the tidal wave of information grows above our heads, in 2015 it's time to say bye to lengthy word files and hello to dashboards. Dashboards turn big data into smart data. So, it's time to put more emphasize on information visualizations. Turn your team data into a landscape that you can explore with your eyes and get a quick overview. In Weekdone, we have developed team dashboards that show company-wide trends, but also team-members' personal performance with a blink of an eye.
Transparency in leadership
Polish your skills of honesty and transparency, which will be most valued leadership traits in 2015. 52% of Gen Z’s and Gen Y’s state that the most important quality for being a good leader is honesty and transparency. Therefore, companies need to start embracing these qualities more. Take for example the Whole Foods and Buffer. These are great examples of a transparent company culture. Among other modifications, they've implemented an open salary system. While this might be a bit extreme for many companies, you can start by making your own weekly progress, plans and problems public. It gives a great opportunity for the whole team to see what you've been working on and what you have planned next.
To tackle the U.S. employees' stagnating engagement, it's time to measure employee satisfaction and set employee happiness KPIs. According to Gallup, 52% of American workers are not engaged in their work, while another 18% are “actively disengaged.” This disengagement costs U.S. businesses $450 to $550 billion in lost productivity per year. To conquer the tipping point in employee engagement, it's about time to have happiness KPI next to your sales KPIs. In 2015 measure your team-members job satisfaction regularly. Take immediate action whenever you see the indicator drop suddenly. If you're using Weekdone progress reports, encourage your team to use the happiness ratings to evaluate their weekly happiness and job satisfaction on a scale of 1-5 stars.
It's quite likely that during the next year you'll have at least 1 remote employee in your team. Flexible work places will become pervasive. In a short period of time the proportion of people working from out of office has already grown by 80%. In the U.S. 34 million people work in remote teams. This number will swell to 63 million by 2016. This means your company needs to expand the digital footprint and harness new social technology. With remote teams, technology must become your best friend. Here's how AgoraPulse was able to go remote.