Summary: The workforce of the future is going to be significantly different from that of today and will see a mix of generations working together. Each generation will have different skills, knowledge and will add unique value to the system. But are we well equipped to adapt to the challenges this evolving workforce brings? GlobalLinker member and business coach, Suresh Babu shares his thoughts on why people management is the need of the hour.

Gone are the days when 2020 seemed like a futuristic time that was years ahead. Now it is only 12 months away! And there cannot be a better time than now to start preparing for it.

But why do you think we should be prepared for 2020 in the first place?

Asset called ‘people’
The world economy is driven at large by businesses led by entrepreneurs. Either a product, service or a combination of products and services, everything is managed by the people working in an organisation. The idea of ‘people’ being considered as an asset of the organisation was a bit obscure until now. 2020 will bring forth a definitive change as companies are focusing on creating a healthy workforce.  Keeping their ‘people’ happy can help them achieve that. And a dedicated investment in the maintenance of this asset is something all futuristic leaders must start considering.

Changing workforce
The workforce entering the marketplace in 2020 is going to be drastically different from what it is now. I’m sure most of you are aware of the impact of baby boomers (born between 1946 – 1964) on the world economy back then. The millennials (born between 1980 – 1994) are having a similar impact on the economy today and 2020 is going to be yet another new era. The Gen Z (born between 1995 – 2012) are going to form the backbone of a powerful workforce by 2020 and it will become our utmost priority to be able to handle, manage and co-exist with them if we want to succeed and grow our business.

This makes 2019 the most crucial year to prepare ourselves for all the upcoming challenges in 2020. Less than twelve months is all we have leverage things to our advantage.

Digitalisation is the future
There is no second opinion about digital being the future. The empowering digital world and its integration into our lives has been all-encompassing. But are we living up to its potential?

Today the top 10 movers and shakers worldwide like Instagram, Whatsapp, Snapchat and AirBnB etc did not exist in 2006. It might seem that upcoming new opportunities are technology-centric, but it is all about creating markets, catering to demands and meeting expectations in this new age of digitalisation. SMEs adopting and adapting to this trend will surely benefit from it.

If you refer to Industry 4.0 where predominantly we are talking about artificial intelligence, machine learning, robotics etc the key question that pops up is: Are we ready to accept these changes?

That’s where the art of new generation people management comes into the picture and that’s precisely what it takes to be 2020 ready. Understand this and start your preparation to be 2020 ready.  Make 2019 the year when you create your success blue print!

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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.