The World Economic Forum held the Annual Meeting 2023 under the theme ‘Cooperation in a Fragmented World.’ It was a congregation of 2700 leaders, including various top executives.
To shape the future of work, the business leaders met the young people who are a part of the Global Shapers Community (an initiative of the World Economic Forum) at Davos 2023. It is a pivotal time for the business world and the next generation.
Young people from 45 countries want better pay, equitable treatment, growth opportunities, and work-life balance. Here’s how employers can help young people with everything they want.
1. Youth Should Be Given Job Opportunities
According to a report published recently by the ILO, employees under the age of 30 experienced a much higher percentage of unemployment during the Covid 19 pandemic. Youth were left out of the labour force and were unable to enter it in the new scenario of lockdown, inflation, and work expectations.
Global Shapers, while talking to the top executives, emphasised creating relevant and meaningful economic opportunities for youth. Companies should fulfil the aspirations of the youth to do work with purpose and contribute to the world.
2. Meaningful Economic Opportunities Are Desirable
Young employees are ready to quit their job if they do not find meaningful job opportunities. In a session on ‘Quiet Quitting and Meaning of Work,’ it was observed that youth are rejecting jobs with toxic work cultures, unrealistic workloads, and an ‘always on, always available’ mentality.
Global Shapers shared that their colleagues and friends are stressed and burnt out, and therefore, they want to work only for the companies that designate well-being and purpose above the targets.
Ashish Kumar Gupta, Chief Growth Officer Europe and Africa, Diversified Industries at HCL Tech, shared, “The future workplace must be redesigned to operate in a distributed, hyperconnected, collaborative, and agile space that offers flexible work schedules and better work-life balance.”
3. Transparency Is The Key To a Democratic Workplace
Employees want democratised information, equitable treatment, and a transparent recruitment process. Youth employees shared on the summit that if the employers do not live up to their commitment to equity, diversity, inclusion, and sustainability, they are ready to walk away.
Laurent Freixe, Executive Vice President, CEO of Zone Latin America at Nestlé and Global Alliance for YOUth Chair, said, “Organizations need to invest in young employees through educational and upskilling opportunities to create a more resilient world of work. When facing the challenges ahead – people and skills must be our core focus.”
4. Upskilling Is Employees’ Reason To Stay
Global Shapers shared that youth seek employers who provide employees with learning and development training. Employers should make use of young employees’ sense of purpose, desire to learn, wish to contribute, and make a difference.
Employers should provide upskilling opportunities to create a realistic world. One never knows what the future holds, and hence, employers should make their employees foolproof for every change that can happen in future work scenarios.
5. Listening Is An Important Step In Collaboration
Young people should be integrated into decision-making, at every level of work culture, which includes focus groups and boardrooms as well. Intergenerational equity matters and Global Shapers posit that it comes with dialogue.
Employers should listen to their wants and needs, understand them and connect with the young employees wherever they are. They should offer tangible rewards to bridge the gaps between them and the employees. This would be an exchange process where employees would exchange their loyalty and commitment with employers’ concerns.
Young employees want to make sure that their work matters for people and the planet. They want that they’ve paid time off, mental health support, and learning opportunities and want their managers to care. The workplace is now moving from employer oriented to employee-oriented culture.
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Feature image designed by Saudamini Seth
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This post is tagged under: World Economic Forum, global issue, ILO, health support, transparency, equitable distribution, climate change, survival, post-pandemic, employees, young, youth, Global Shapers, initiative, global leaders executives, listening, cooperation, coordination, meaning, job with purpose, change, remote working, workforce, labour force, young employees, upskilling, training, development, job opportunity
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