Sections

How The Shared Economy And Social Ratings Impact Our Lives

Umut Cikla

How would you rate yourself in terms of trustworthiness on a scale of 1 to 5? How are you perceived by people around you? How would they rate you in your profession?

You had better start thinking about these questions, because in the near future they will affect your career, your salary, your social relations, and many other aspects of your life.

I’ll come back to that point, but first I’ll highlight the trends I observe in the workplace today:

It is expected that by 2020, 40% of the workforce will be “on-demand” or “contingent.” 

That means that more people than ever will be employed temporarily for specific defined tasks. These tasks can vary from “walk the dogs” or “get a spider out of my house” to jobs that require high-level domain expertise or craftsmanship, such as “develop a business case for a big digital transformation project.”

In all industries, there is a strong need to employ the right people with the required qualifications, a good record of history, and recommendations based on their past work. Social media and personal ratings are proven to be the best and the most transparent platform to achieve such ratings.

These days, consumers don’t buy a product online before checking user recommendations, and they don’t make a hotel reservation before going through previous guests’ experiences, right? The same strategy will apply to work life very soon.

Companies and people will employ people who have exceeded expectations in their previous tasks. For that purpose, they will check perspective employees’ established “trustability ratings or reputation passports created by previous employers.

We already have these ratings today, even if we are not aware of them. Here are some examples:

We rate Uber drivers after the trips. But did you know that the drivers rate you as a customer too? It’s a bit difficult to find in the Uber app menu, but I finally found it. Here is mine:

Another example is your social media influencer rating.” For years, consumer product companies and retailers have sent free products or offered discounts to customers who are active on social media and have many followers. They rate people based on how influential they are on social media, and reach out to the top-ranked ones in hopes that these “influencers” will mention and hashtag their products in their channels.

Another example is your credit rating: Financial institutions check this before lending you money, and they change their lending conditions based on it.

We all collect labels and ratings, even if we are not aware of them. These ratings affect companies’ and employers’ attitude toward you, and the trend will continue. We will continue to see individual ratings play a significant role in perception, trust, employment potential, salary, and more.

For more on this topic, watch Series 3-Episode 1 of the British TV series Black Mirror. Although it draws a dystopian picture for the future (which I don’t totally agree with), I found it extremely interesting and would like to hear your thoughts.

 

 

Comments

Umut Cikla

About Umut Cikla

Umut Cikla is focused on growing SAP solutions in the retail and consumer products industries. He is a member of the SAP ANZ Industry Value Engineering team, which works with the broader sales and services teams to showcase to customers the business value of and the road map for SAP solutions to guide them in the relentless transformation to digital in the consumer industries.

What Gen Z’s Arrival In The Workforce Means For Recruiters

Meghan M. Biro

Generation Z’s arrival in the workforce means some changes are on the horizon for recruiters. This cohort, born roughly from the mid-90s to approximately 2010, will be entering the workforce in four Hiring Generation Z words in 3d letters on an organization chart to illustrate finding young employees for your company or businessshort years, and you can bet recruiters and employers are already paying close attention to them.

This past fall, the first group of Gen Z youth began entering university. As Boomers continue to work well past traditional retirement age, four or five years from now, we’ll have an American workplace comprised of five generations.

Marketers and researchers have been obsessed with Millennials for over a decade; they are the most studied generation in history, and at 80 million strong they are an economic force to be reckoned with. HR pros have also been focused on all things related to attracting, motivating, mentoring, and retaining Millennials and now, once Gen Z is part of the workforce, recruiters will have to shift gears and also learn to work with this new, lesser-known generation. What are the important points they’ll need to know?

Northeastern University led the way with an extensive survey on Gen Z in late 2014 that included 16- through 19-year-olds and shed some light on key traits. Here are a few points from that study that recruiters should pay special attention to:

  • In general, the Generation Z cohort tends to be comprised of self-starters who have a strong desire to be autonomous. 63% of them report that they want colleges to teach them about being an entrepreneur.
  • 42% expect to be self-employed later in life, and this percentage was higher among minorities.
  • Despite the high cost of higher education, 81% of Generation Z members surveyed believe going to college is extremely important.
  • Generation Z has a lot of anxiety around debt, not only student loan debt, and they report they are very interested in being well-educated about finances.
  • Interpersonal interaction is highly important to Gen Z; just as Millennials before them, communicating via technology, including social media, is far less valuable to them than face-to-face communication.

Of course Gen Z is still very young, and their opinions as they relate to future employment may well change. For example, reality is that only 6.6% of the American workforce is self-employed, making it likely that only a small percentage of those expecting to be self-employed will be as well. The future in that respect is uncertain, and this group has a lot of learning to do and experiences yet ahead of them. However, when it comes to recruiting them, here are some things that might be helpful.

Generation Z is constantly connected

Like Millennials, Gen Z is a cohort of digital natives; they have had technology and the many forms of communication that affords since birth. They are used to instant access to information and, like their older Gen Y counterparts, they are continually processing information. Like Millennials, they prefer to solve their own problems, and will turn to YouTube or other video platforms for tutorials and to troubleshoot before asking for help. They also place great value on the reviews of their peers.

For recruiters, that means being ready to communicate on a wide variety of platforms on a continual basis. In order to recruit the top talent, you will have to be as connected as they are. You’ll need to keep up with their preferred networks, which will likely always be changing, and you’ll need to be transparent about what you want, as this generation is just as skeptical of marketing as the previous one.

Flexible schedules will continue to grow in importance

With the growth of part-time and contract workers, Gen Z will more than likely assume the same attitude their Millennial predecessors did when it comes to career expectations; they will not expect to remain with the same company for more than a few years. Flexible schedules will be a big part of their world as they move farther away from the traditional 9-to-5 job structure as work becomes more about life and less about work, and they’ll likely take on a variety of part time roles.

This preference for flexible work schedules means that business will happen outside of traditional work hours, and recruiters’ own work hours will, therefore, have to be just as flexible as their Gen Z targets’ schedule are. Companies will also have to examine what are in many cases decades old policies on acceptable work hours and business norms as they seek to not only attract, but to hire and retain this workforce with wholly different preferences than the ones that came before them. In many instances this is already happening, but I believe we will see this continue to evolve in the coming years.

Echoing the silent generation

Unlike Millennials, Gen Z came of age during difficult economic times; older Millennials were raised in the boom years. As Alex Williams points out in his recent New York Times piece, there’s an argument to be made that Generation Z is similar in attitude to the Silent Generation, growing up in a time of recession means they are more pragmatic and skeptical than their slightly older peers.

So how will this impact their behavior and desires as job candidates? Most of them are the product of Gen X parents, and stability will likely be very important to them. They may be both hard-working and fiscally savvy.

Sparks & Honey, in their much quoted slideshare on Gen Z, puts the number of high-schooler students who felt pressured by their parents to get jobs at 55 percent. Income and earning your keep are likely to be a big motivation for GenZ. Due to the recession, they also share the experience of living in multi-generational households, which may help considerably as they navigate a workplace comprised of several generations.

We don’t have all the answers

With its youngest members not yet in double digits, Gen Z is still maturing. There is obviously still a lot that we don’t know. This generation may have the opposite experience from the Millennials before them, where the older members experienced the booming economy, with some even getting a career foothold, before the collapse in 2008. Gen Z’s younger members may get to see a resurgent economy as they make their way out of college. Those younger members are still forming their personalities and views of the world; we would be presumptuous to think we have all of the answers already.

Generational analysis is part research, but also part theory testing. What we do know is that this second generation of digital natives, with its adaption of technology and comfort with the fast-paced changing world, will leave its mark on the American workforce as it makes its way in. As a result, everything about HR will change, in a big way. I wrote a post for my Forbes column recently where I said, “To recruit in this environment is like being part wizard, part astronaut, part diplomat, part guidance counselor,” and that’s very true.

As someone who loves change, I believe there has never been a more exciting time to be immersed in both the HR and the technology space. How do you feel about what’s on the horizon as it relates to the future of work and the impending arrival of Generation Z? I’d love to hear your thoughts.

Social tools are playing an increasingly important role in the workplace, especially for younger workers. Learn more: Adopting Social Software For Workforce Collaboration [Video].

The post What Gen Z’s Arrival In The Workforce Means For Recruiters appeared first on TalentCulture.

Image: Bigstock

Comments

Meghan M. Biro

About Meghan M. Biro

Meghan Biro is talent management and HR tech brand strategist, analyst, digital catalyst, author and speaker. I am the founder and CEO of TalentCulture and host of the #WorkTrends live podcast and Twitter Chat. Over my career, I have worked with early-stage ventures and global brands like Microsoft, IBM and Google, helping them recruit and empower stellar talent. I have been a guest on numerous radio shows and online forums, and has been a featured speaker at global conferences. I am the co-author of The Character-Based Leader: Instigating a Revolution of Leadership One Person at a Time, and a regular contributor at Forbes, Huffington Post, Entrepreneur and several other media outlets. I also serve on advisory boards for leading HR and technology brands.

How The Digital Economy Is Defining An Entire Generation

Julia Caruso

millennial businesswomen using digital technology at work“Innovation distinguishes between a leader and a follower.” – Steve Jobs

As a part of the last wave of Millennials joining the workforce, I have been inspired by Jobs’ definition of innovation. For years, Millennials like me have been told that we need to be faster, better, and smarter than our peers. With this thought in mind and the endless possibilities of the Internet, it’s easy to see that the digital economy is here, and it is defining my generation.

Lately we’ve all read articles proclaiming that “the digital economy and the economy are becoming one in the same. The lines are being blurred.” While this may be true, Millennials do not see this distinction. To us, it’s just the economy. Everything we do happens in the abstract digital economy – we shop digitally, get our news digitally, communicate digitally, and we take pictures digitally. In fact, the things that we don’t do digitally are few and far between.

Millennial disruption: How to get our attention in the digital economy

In this fast-moving, highly technical era, innovation and technology are ubiquitous, forcing companies to deliver immediate value to consumers. This principle is ingrained in us – it’s stark reality. One day, a brand is a world leader, promising incredible change. Then just a few weeks later, it disappears. Millennials view leaders of the emerging (digital) economy as scrappy, agile, and comfortable making decisions that disrupt the norm, and that may or may not pan out.

What does it take to earn the attention of Millennials? Here are three things you should consider:

1. Millennials appreciate innovations that reinvent product delivery and service to make life better and simpler.

Uber, Vimeo, ASOS, and Apple are some of the most successful disruptors in the current digital economy. Why? They took an already mature market and used technology to make valuable connections with their Millennial customers. These companies did not invent a new product – they reinvented the way business is done within the economy. They knew what their consumers wanted before they realized it.

Millennials thrive on these companies. In fact, we seek them out and expect them to create rapid, digital changes to our daily lives. We want to use the products they developed. We adapt quickly to the changes powered by their new ideas or technologies. With that being said, it’s not astonishing that Millennials feel the need to connect regularly and digitally.

2. It’s not technology that captures us – it’s the simplicity that technology enables.

Recently, McKinsey & Company revealed that “CEOs expect 15%–50% of their companies’ future earnings to come from disruptive technology.” Considering this statistic, it may come as a surprise to these executives that buzzwords – including cloud, diversity, innovation, the Internet of Things, and future of work – does not resonate with us. Sure, we were raised on these terms, but it’s such a part of our culture that we do not think about it. We expect companies to deeply embed this technology now.

What we really crave is technology-enabled simplicity in every aspect of our lives. If something is too complicated to navigate, most of us stop using the product. And why not? It does not add value if we cannot use it immediately.

Many experts claim that this is unique to Millennials, but it truly isn’t. It might just be more obvious and prevalent with us. Some might translate our never-ending desire for simplicity into laziness. Yet striving to make daily activities simpler with the use of technology has been seen throughout history. Millennials just happen to be the first generation to be completely reliant on technology, simplicity, and digitally powered “personal” connections.

3. Millennials keep an eye on where and how the next technology revolution will begin.

Within the next few years Millennials will be the largest generation in the workforce. As a result, the onslaught of coverage on the evolution of technology will most likely be phased out. While the history of technology is significant for our predecessors, this not an overly important story for Millennials because we have not seen the technology evolution ourselves. For us, the digital revolution is a fact of life.

Companies like SAP, Amazon, and Apple did not invent the wheel. Rather, they were able to create a new digital future. For a company to be successful, senior leaders must demonstrate a talent for R&D genius as well as fortune-telling. They need to develop easy-to-use, brilliantly designed products, market them effectively to the masses, and maintain their product elite. It’s not easy, but the companies that upend an entire industry are successfully balancing these tasks.

Disruption can happen anywhere and at any time. Get ready!

Across every industry, big players are threatened — not only by well-known competitors, but by small teams sitting in a garage drafting new ideas that could turn the market upside down. In reality, anyone, anywhere, at any time can cause disruption and bring an idea to life.

Take my employer SAP, for example. With the creation of SAP S/4HANA, we are disrupting the tech market as we help our customers engage in digital transformation. By removing data warehousing and enabling real-time operations, companies are reimagining their future. Organizations such as La Trobe University, the NFL, and Adidas have made it easy to understand and conceptualize the effects using data in real time. But only time will tell whether Millennials will ever realize how much disruption was needed to get where we are today.

Find out how SAP Services & Support you can minimize the impact of disruption and maximize the success of your business. Read SAP S/4HANA customer success stories, visit the SAP Services HUB, or visit the customer testimonial page on SAP.com.

Comments

Julia Caruso

About Julia Caruso

Julia Caruso is a Global Audience Marketing Specialist at SAP. She is responsible for developing strategic digital media plans and working with senior executives to create high level content for SAP S/4HANA and SAP Activate.

Running Future Cities on Blockchain

Dan Wellers , Raimund Gross and Ulrich Scholl

Building on the Blockchain Framework

Some experts say these seemingly far-future speculations about the possibilities of combining technologies using blockchain are actually both inevitable and imminent:


Democratizing design and manufacturing by enabling individuals and small businesses to buy, sell, share, and digitally remix products affordably while protecting intellectual property rights.
Decentralizing warehousing and logistics by combining autonomous vehicles, 3D printers, and smart contracts to optimize delivery of products and materials, and even to create them on site as needed.
Distributing commerce by mixing virtual reality, 3D scanning and printing, self-driving vehicles, and artificial intelligence into immersive, personalized, on-demand shopping experiences that still protect buyers’ personal and proprietary data.

The City of the Future

Imagine that every agency, building, office, residence, and piece of infrastructure has an entry on a blockchain used as a city’s digital ledger. This “digital twin” could transform the delivery of city services.

For example:

  • Property owners could easily monetize assets by renting rooms, selling solar power back to the grid, and more.
  • Utilities could use customer data and AIs to make energy-saving recommendations, and smart contracts to automatically adjust power usage for greater efficiency.
  • Embedded sensors could sense problems (like a water main break) and alert an AI to send a technician with the right parts, tools, and training.
  • Autonomous vehicles could route themselves to open parking spaces or charging stations, and pay for services safely and automatically.
  • Cities could improve traffic monitoring and routing, saving commuters’ time and fuel while increasing productivity.

Every interaction would be transparent and verifiable, providing more data to analyze for future improvements.


Welcome to the Next Industrial Revolution

When exponential technologies intersect and combine, transformation happens on a massive scale. It’s time to start thinking through outcomes in a disciplined, proactive way to prepare for a future we’re only just beginning to imagine.

Download the executive brief Running Future Cities on Blockchain.


Read the full article Pulling Cities Into The Future With Blockchain

Comments

Dan Wellers

About Dan Wellers

Dan Wellers is founder and leader of Digital Futures at SAP, a strategic insights and thought leadership discipline that explores how digital technologies drive exponential change in business and society.

Raimund Gross

About Raimund Gross

Raimund Gross is a solution architect and futurist at SAP Innovation Center Network, where he evaluates emerging technologies and trends to address the challenges of businesses arising from digitization. He is currently evaluating the impact of blockchain for SAP and our enterprise customers.

Ulrich Scholl

About Ulrich Scholl

Ulrich Scholl is Vice President of Industry Cloud and Custom Development at SAP. In this role, Ulrich discovers and implements best practices to help further the understanding and adoption of the SAP portfolio of industry cloud innovations.

Tags:

Why HR Is The New Marketing

Michael Brenner

In a world of infinite media choices, the best way to reach new buyers and new talent might be right under your nose. Your own employees represent the greatest opportunity to create meaningful marketing and to develop human resources programs that increase sales, while also finding and retaining top talent. Is HR the new marketing?

In the battle for new talent, HR departments have been forced to expand their role from hiring and firing, overseeing personnel systems and processes, and handling benefit management to include leadership development and training, employer branding, and diversity initiatives.

HR has been forced to adopt strategies that look, well, very much like marketing. These days, HR develops campaigns to grow employer awareness, to build the employer brand as a “great place to work,” and to retain top talent—all traditional marketing objectives.

While many in HR have embraced these traditional marketing skills, the most effective companies are moving beyond HR simply applying marketing techniques to a whole new opportunity. These effective companies are actually activating employees as a new marketing channel to achieve both HR and marketing objectives.

Proceed with caution

One of the biggest obstacles to achieving the potential of employees as a new marketing channel is the perception of marketing as advertising.

Asking (or forcing) your employees to share product content on their social media channels is just as dangerous as asking them to share (or guilting them into sharing) what a great place your company is to work.

Consumers are increasingly ignoring and blocking advertising messages, with some research even suggesting that promotional messages from brands can have the opposite of their intended effect. These misguided efforts can actually cause sales to decline!

While some employees may authentically share their excitement and passion for the products they work on, the projects they are engaged in, and the company they work for (and we should celebrate that), this is not a sustainable strategy for getting new customer or talent.

Content marketing and HR

Content marketing has emerged as one of the hottest trends in marketing. Marketers are learning to think and act like publishers to create entertaining, interesting, or helpful content that consumers actually want to read and share (vs. promotional ads). And this approach allows a brand to reach, engage, convert and retain new customers.

The opportunity to activate employees to achieve marketing and HR objectives starts by creating content they naturally want to share.

As the first VP of content marketing at SAP, I learned to tap into the power of my fellow employees to create a marketing program that delivered massive ROI. The biggest lesson I learned: HR is the new marketing!

With a limited budget for content, I asked our internal experts to write articles on whatever they wanted. We had one editorial rule: no product promotion. Our internal experts could explore their professional or personal passions and interests, even if it meant writing about cat videos. Because somewhere out in the world, I believed there was a potential customer, employee, partner or investor who might also loved cat videos. (No one ever wrote about cat videos. Bummer!)

I even created a slideshare deck to explain the value for these employees/budding content marketers:

  • Grow your personal brand
  • Increase or establish your authority on the topics you are interested in
  • Gain new social media followers
  • Maybe even find that new job or get promoted

We also encouraged this behavior by publicly recognizing our top articles and authors each week in a round-up post. We made rock stars of the best performers as their social connections and influence increased. And this drove more employees to sign up.

Today, that site has hundreds of employee contributors. All are growing their personal brand, while expressing their passions and expertise to the world. And many of the employees who don’t write articles voluntarily share the content with their social connections.

As LinkedIn’s own Jason Miller mentioned in his article, the trick is to define what’s in it for them.

Why does this work?

Because you can create massive momentum when we combine the needs of our customers, our employees, and our company based on THEIR own distinct interests:

  • Companies want more loyal customers and talented employees.
  • Employees want purpose and meaningful work that has real impact on their career and the world.
  • Customers want to form relationships with brands on their terms and based on their self-interest

What you can do to activate HR as the new marketing

1. Create a customer-centric vision

Look around your organization, and you will see people above you, below you, and beside you. The traditional org chart still exists to focus on your position in the hierarchy. But where’s the customer? Where is the customer in your org chart? 

Even if your company mission isn’t customer-centric (“we are the leading provider of widgets”), your marketing vision must be. And there is one simple formula to get there:

Become a sought-after destination for which topicin order to deliver what customer value or impact.

2. Create content employees who want to share

According to LinkedIn, the combined connections of employees on the LinkedIn platform is 10 times larger than any company’s followers. And just 3 percent of company employees sharing branded content generate 30 percent of the views and clicks on that content.

Platforms such as LinkedIn Elevate, social selling programs, and other tools can dramatically increase the reach of your content, grow your company’s social presence, and improve the effectiveness of marketing programs — without spending a single dollar on paid media.

But you have to create content your employees want to share. You might even ask them to help you. The trick is to explain what’s in it for them: creating or sharing content can help them build more connections, establish relationships with other leaders in your industry, and grow their personal brand so they can achieve happiness in their careers.

3. Measure the results

Measure the impact of your employee content sharing for your company. Demonstrate how it has benefited the employees (increased connections, awards, and recognition). Discuss ways to profile your best customers as well.

And partner with your colleagues across HR, marketing, and sales to determine the best ways to continuously optimize what is working for everyone.

If you’re in marketing, it’s time to start thinking about your colleagues in HR as your new best friend. And if you’re in HR, it’s time to think about how marketing can help you acquire and retain the best talent — while making the leadership team happy as well.

For more strategies that create a culture that drives business growth, see Employee Advocacy = Engaged Employees.

Comments

Michael Brenner

About Michael Brenner

Michael Brenner is a globally-recognized keynote speaker, author of  The Content Formula and the CEO of Marketing Insider GroupHe has worked in leadership positions in sales and marketing for global brands like SAP and Nielsen, as well as for thriving startups. Today, Michael shares his passion on leadership and marketing strategies that deliver customer value and business impact. He is recognized by the Huffington Post as a Top Business Keynote Speaker and   a top  CMO influencer by Forbes.