Historically, companies rarely experienced the risk of a talent shortage or a workforce with options. In many ways, this meant traditional compensation packages including retirement plans, health benefits, and a ‘competitive salary’ would get and retain talent. However, many of these benefits can be obtained independently now. Employees are no longer dependent on an employer if they want medical benefits or even a retirement plan. There are entirely new market segments being created by and for the ‘gig economy’.

While the older generations might not be ready to make the leap, the younger generations are. ‘Millennials’ have now surpassed the ‘Boomer’ generation as the largest generation in the current workforce. Why should you care? 

The Millennial generation aligns with the next transformational phase of your business. These individuals will be represented as your new buyers which will make it critical that they are part of your organizational strategy. They know what your future workforce and customer want, no different than their predecessors did.