Change: What is the Future — Living in a Fast-paced World?
An interesting glimpse into the generational shift in the workforce and the changing expectations and behaviours of millennials and Gen Z
It is predicted that by 2025, millennials and Gen Z will make up 75% of the global workforce, while the generation that entered employment in the 1980s will retire, bringing a gap between the way it was and the way it is now.
These new people entering the labour market will come with their own predetermining goals, based on their experience of life thus far. Back in the 1980s, technologies were a new thing. Computers were bulky and had their own language, and very little function but typing letters and printing. Mobile phones had not reached the masses yet. Only a very few had satellite phones that were as big as bricks and expensive. Smartphones were not even thought of yet.
Forget Wi-Fi and the internet at the touch of a button, social media platforms and other stuff we think we cannot live without anymore. Especially, the new generations.
The new generations now expect everything to happen ‘NOW’ and a growing body of evidence also shows that they have a much-reduced attention span.
This means that a huge proportion of the labour market whose patterns of consumption, relationships with technology, politics, culture, and ethics, and definitions of success in life and in the workplace are reshaping the way companies will attract and retain their personnel.
What is already known:
70% of the global workforce is passive talent
6 out of 10 millennials say they are open to new job opportunities even though they are not actively seeking work
80% of Millennials look for people and culture fit with employers, followed by career potential
Nearly 80% of job seekers will consider a company’s mission before applying, and
over 60% attribute the main reason they stay in their current jobs to their company’s mission
Job-seekers consider current employees the most trusted source of information about a company, in a way they use reviews before buying a certain product. It also means that they are constantly connected (online) and use all data at their disposal to make choices. Very often, opting for the easiest solution with the minimum of effort.
The millennials have probably no idea what it was to not have everything at the touch of a button, let it be electricity or hot water, which is still just about 100 years old.
What are the consequences of a constantly connected world, 5G (and similar future technology), and how is it affecting their life choice, work, and overall health?
Let’s face it. If your attention span is just a few seconds, and you are used to having everything at the touch of a button, will you ever cook from scratch or will you just push the button on the microwave or order your next meal by using an app, or simply open a bag of snack that was delivered within minutes of ordering it. This means that diet habits are also changing and this will inevitably affect the health of the new generations. Ultra-processed foods are already a real problem, and much evidence has already linked regularly eating takeaways and ready-made meals to metabolic disorders and obesity.
Have you noticed a change in eating habits in your lifestyle, the ever-increasing availability of ultra-processed foodstuff, while the cost of fresh produce keeps going up and up and up…? Has the way you eat changed in the last decade?
Generational Impact on the Future:
As millennials and Gen Z continue to shape the workforce and consumer landscape, their preferences and habits will have far-reaching effects. Here are some additional statistics and insights to consider:
1. The Gig Economy and Flexibility:
By 2025, it's estimated that the gig economy, also known as the freelance or on-demand economy, will account for a significant portion of employment, with many millennials and Gen Z seeking flexible work arrangements.
This shift will likely impact traditional job structures and benefits, leading to a reevaluation of labour laws and social safety nets.
This also provides insights into infrastructures and city transportation as many of these new generations will expect to work from home and create their own schedule.
2. Sustainable Practices:
A growing number of young professionals prioritise sustainability in their career choices and consumer decisions.
This trend will drive companies to adopt more environmentally friendly practices, impacting supply chains and production methods.
Unfortunately, the impact on the environment will not be lifted as more and more companies will provide delivery services. Using electric fleets will not resolve the problem as those cars/vans need to be built with rare materials that are interlinked with child slavery and abuse, and the electricity required to power those vehicles need to be generated, and more demand — as we witnessed in 2022-2023, can lead to using extremely polluting solutions like coil and other questionable energy production methods — will lead to greater environmental pollution and major health concerns.
3. Technology and Automation:
Automation and artificial intelligence will play a prominent role in future job markets, potentially displacing routine tasks.
Younger generations will need to adapt to these changes, yet, at the same time, may learn very little as they will create content by using prompts and other methods, taking away any form of reflection and questioning, as they probably will copy-and-paste AI-copied-and-pasted responses.
It also means that AI will have a greater influence on our lives. “The Internet of Things” will be the dominant factor in manufacturing and production, and most appliances will be expected to be linked to some form of data extraction (Wi-Fi, Bluetooth, etc.), increasing the level of radiation exposure, and the next wave of targeted systems (6G is nearly out there even though 5G has not rolled out everywhere… What’s next 7G, 10G and the iPhone 100 which will be able to take over your entire life and privacy?)
4. Healthcare and Well-being:
With a focus on wellness, millennials and Gen Z may demand more comprehensive healthcare benefits and workplace well-being programs.
This could lead to changes in healthcare policies and corporate wellness initiatives.
On the other hand, we may see a growing wave of mental health disorders as many of these generations will work from home and experience little social interactions, and it may be more difficult for them to develop meaningful relationships and be part of (real-life) strong social networks.
5. Impact on the Food Chain:
The "instant gratification" culture of these generations may lead to increased demand for fast food and food delivery services.
Traditional agriculture may need to adapt to cater to the changing dietary preferences and convenience-driven food choices.
This promises the creation of a tsunami of preservatives and additives, and their effects on human health will be devastating.
6. Health Consequences:
The rise in ultra-processed foods and sedentary lifestyles among younger generations could contribute to a higher prevalence of obesity, diabetes, and other health issues.
Public health initiatives and education campaigns will become critical in addressing these challenges.
Increased mental health support will also require more therapists and mental health centres, and the development of holistic medicine with mental health at their core.
7. Economical Shifts:
The spending patterns of millennials and Gen Z, influenced by technology and social consciousness, will shape industries such as tech, renewable energy, and sustainable fashion.
Investors and businesses will need to align with these trends to remain competitive.
Will this also lead to the end of haute-couture and fashion designers as we know it today?