The rate of change in today’s working environment is phenomenal. Mass digitalisation, increased globalisation and an ostensibly fragmented political and economic backdrop necessitate it. One of the most obvious products of this change, is also one of the fundamental drivers in moving it forward – the ‘millennial’ generation workforce. A highly educated, talented and more questioning generation than has gone before them, they look for greater meaning in their work, what it can do for them and how to create a life beyond their jobs. This presents a real challenge to business. It requires employers to think more effectively and creatively about how to harness the energy and drive that this generation brings to the marketplace, and consider how to sustain that in the long term to benefit both people and organisations.
Alternative models of business, such as employee and family owned, partnerships or shared enterprises can greatly enhance an employee’s sense of ownership and helps to promote an harmonious and beneficial relationship. These models typically offer an opportunity to take a longer-term view in contrast to those constrained by shareholder reporting in the stock market. The millennial generation has much value to add, but is also keen to be recognised and to reap benefit in the long term.
In our latest edition of CANVAS, we provide insight from an event which recently took place at the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce) and involved three champions of employee owned business, including Saxton Bampfylde. The topic for the panel-led event was ‘Partnership, Purpose and Productivity’. We will consider what is the key to productivity and prosperity and how to engage the current and future generations of employees to deliver and strive on a daily basis. The alternatively owned business sector is demonstrating real innovation and flexibility and delivering impressive results. For this, it is attracting interest at an unprecedented level.