Millennials and Gen Z are Reshaping Today's Workforce

By: First Union | Date:

business-strategyresources

Millennials and Gen Z are Reshaping Today's Workforce

See Your Loan Options

Get Started

While many are apt to dismiss these younger generations as not being driven enough, being work shy or seeming too "snowflake-like" in their mentality, Millennials and those of Generation Z are in fact making a meaningful difference when it comes to today's workforce. In a number of important ways, they are shifting viewpoints and practices that have otherwise been part of a traditional workplace mindset now for as long as most can remember. And many of these shifts are quite positive.

Among the changes that we are increasingly seeing as far as the work environment: more remote work is being done, freelancing is on the rise, and perhaps most crucially, Millennials and Gen Z employees are truly focused on their own vocational development.

  • Self Development – Especially as we see automation starting to become more and more pervasive along with the implementation of AI technology, employees really do need to be retrained and develop accordingly in relation to how such innovations intersect with their jobs. More so than older generations, those younger workers are taking it upon themselves to seek out educationalgrowth opportunities.
  • Remote working – In a recent survey, it was discovered that 75% of Millennial and Gen Z managers have at least one employee who is, in fact, a remote worker. Within the next five to eight years that number is expected to get a lot bigger as remote working truly does become a workplace mainstay.
  • More freelancing – Millennials especially are very open to utilizing freelancers for various projects. When it comes to the overall efficiency and of course cost, you really can't go wrong with using talented freelancers who specialize in certain fields/niches.

For Millennials and Gen Z it really is about redefining what a typical 9 to 5 day looks like; basically, in this new landscape, that 9 to 5, for the most part, doesn't exist. Beyond the above, the younger generation of workers is also invested in planning for the future of the company, in reducing pressure and stress associated with their jobs and in collaborating more. It will certainly be interesting to see how the workplace evolves in the years to come.

At First Union Lending, we focus on helping small businesses keep pace with the changing nature of business. If you need extra cash to carry out a project, update equipment, even hire additional employees, we can help. Call today!

Better Business Bureau
5 star rating
Trustpilot reviews

First Union Lending LLC is a dually licensed Lender/Broker with its main offices located at 4900 Millenia Blvd First Floor Orlando, FL 32839. First Union Lending LLC and its ads are meant for continental United States, including Alaska and Hawaii small business owners. Business Loans offered by First Union Lending LLC have varying rates and terms that can range from 30 - 120 payments and all rates and terms are based on eligibility of the business and its owners. The actual terms are based on credit, business history, industry, amount and terms. As an example, a $5,000 loan paid over 5 years at 8% would have a total repayment of $6,082.92 over the life of the loan. We use the latest encryption to protect sensitive information transmitted online, as well as run our own secure server network to ensure your information is protected offline as well.

Copyright © First Union Lending, LLC. 2021