Just as employers get their heads around what needs to be done to attract eternally fickle Gen X workers, a new bunch has loomed into view. Say hello to Gen V. This new group - also known by the moniker 'Generation Virtual' - is not defined by age, sex, social status or geography. Rather it’s a group of people who have grabbed digital technology with both hands and are making use of it in all areas of their lives. Perhaps you're a member?
Identified by research company Gartner, Gen V was making its presence felt in the world of work even before it has an official title. By using online tools for everything from work communications to arranging their social life, the group is causing headaches for many established businesses.
Old command-and-control management methods are being overturned and concepts like the traditional division between work and home life are eroding faster than the polar ice caps.
Gen V is also proving difficult for established companies to reach. Like Gen X, they don't tend to watch a lot of television or read newspapers. Rather, they get their information from online news services and communities. If you want to sell to them, you've got a tough job ahead of you.
For this reason, Gartner says companies will need to become more involved in the growing plethora of online communities scattered across the internet. If you want to talk to an audience, you've got to be where they are.
But this will take more than simply setting up a corporate blog or establishing an island in Second Life. Companies need to carefully think about the people with whom they are trying to build a relationship and then create engaging communities to match.
Then it's a matter of monitoring reaction and feedback and tweaking or redesigning the offering to meet the demands of the audience. It's not a case of 'build once and forget about it'.
The companies that manage to snare the attention of Gen V stand to enjoy significant spoils. Those that don't risk watching their existing customer bases slowly wilt. Which category will your business be in?
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I agree with you Ian. I think this will level the playing field of all generations. Not youth or age, just how savy you are with the newest technology.