Companies must embrace the new rules for engaging the workforce of the future

By 2020, the workplace will look and operate very differently to the way it does today. Fifty years ago the workplace looked vastly different to what it does today and it is changing at an unprecedented rate. Companies that don't keep pace with changes in the market are part of a dying breed that could become obsolete in the next eight years.

More women in leadership roles

Internationally, trends show that more women are attending university than men. As a result, there will be more women in leadership roles as those graduates move up the ranks. There is currently still a slant towards placing men in top positions, but as organisations work on gender equity retention strategies, they will have to look at their environment and adjust policies to accommodate working mothers in order to stay competitive.

Already companies are changing their policies. Risk management company Aon, for instance, has been recognised for its flexible work programmes and commitment to empowering women by Working Mother magazine, which named it in the top-100 Best Companies for 2012. Also dramatically shifting the business landscape are technologies like Web 2.0, which allow techno-savvy, increasingly connected employees to become publishers of web content and companies to engage in bi-directional communications with their customers and employees.

The demise of Kodak

Companies that don't acknowledge these market shifts risk becoming redundant. Complacency and resistance to change are already proving to have serious implications on businesses. The demise of Kodak is an example.

According to analysts, Kodak's complacency, stifling of innovation and failure to keep up with the digital revolution are the reasons for the company's collapse. I believe that these are symptoms of many failing organisations. Nurturing a culture of innovation, giving innovators a platform to be heard, and staying tuned to market changes and advances in technology are critical to the success of all businesses into the future.

So, what are the rules of engagement for the workplace of the future?

Five key principles

The book The 2020 Workplace by Jeanne C Meister and Karie Willyerd says that there are five key principles that underlie the values, brand and practices of companies that are able to engage the 2020 workforce effectively. These principles are: collaboration; authenticity; personalisation; innovation; and social connection. Companies have become more global and decentralised, calling for increased levels of collaboration, both internally and externally, to bridge distances between people through the use of technology. The need to step up collaboration with people outside the organisation, including suppliers, customers, consumers, the government, NGOs and local communities, is becoming increasingly pertinent. Organisations in services industries will have to look at placing employees in client and supplier environments in order to manage the distance barriers.

There is also a massive global shift towards environmental awareness, corporate responsibility and social consciousness. After incidents of political excess and corporate irresponsibility, there is a greater sense of responsibility, accountability and authenticity. As we move into the future, CEOs will need to ensure that they have aligned their organisations accordingly. Employees will want to witness their organisation involved in responsible business and they will be attracted to organisations that live by an acceptable set of values and ethics.

Innovation a key feature

Higher degrees of personalisation will be expected from organisations as people become more self-actualised and are no longer satisfied with being "processed" generically. Companies will have to focus more on personalising employees' roles, career paths and goals. Innovation, as always, will be a key feature of sustainable companies and workforces as we move toward 2020. It is what keeps businesses ahead in the marketplace and encourages people to keep advancing their skill sets. Innovative organisations are also better able to attract innovative employees who are creative and who are comfortable with change.

Workplaces will have to be vibrant and social to engage and fulfil the workforce of 2020. Increasing social connection, whether physical or virtual, is pertinent for businesses. There is a tendency for the modern workforce to move away from work-life-balance towards flexibility. The 2020 workforce will want to have social engagements and they want to have fun. They will be more comfortable in an exciting environment where they are connected to their colleagues and have the freedom to create their own work schedule.